Codan EBIT up 28 per cent to $146 million

Electronics manufacturer Codan has delivered its full-year results, with group revenues up 22 per cent to $674.2 million and “all profitability metrics increased” versus the previous financial year.

According to a statement from the ASX-listed company on Thursday, net profit after tax was up 27 per cent to $103.5 million and earnings before interest and tax rose 28 per cent to $146 million, after expensing $5 million of non-recurring, pre-tax costs.

The company described the group revenue result as reflecting strong organic growth, supplemented by the acquisition of US-based Kägwerks by subsidiary Codan US Inc., announced in September last year. 

Kagwerks became part of Codan’s Tactical Communications, one of two divisions alongside metal detections business Minelab. Revenues for each were up 26 per cent to $413.5 million and 16 per cent to $254.8.

CEO Alf Iannello described FY25 as a period of strong performance for the company.

“With our disciplined approach and a strengthened balance sheet, Codan is well positioned to pursue future opportunities from a position of confidence,” said Iannello.

“As we look ahead, we remain committed to building a stronger Codan – investing in innovation, broadening our capabilities, and delivering long-term value to our shareholders.”

Picture: credit Codan/Linkedin

Further reading

Codan enters US with communications acquisition

Codan sales and profits up in communications, detection

Codan delivers record sales, profit and dividend