PWR’s record revenue and profits

Automotive, aerospace and defence manufacturer PWR Holdings has reported a Net Profit After Tax (NPAT) of $24.8 million for the year ended 30 June 2024 on revenue up 17.8 percent to $139.4 million.

The company, best known for the manufacture of specialist radiators for F1 cars, reported EBITDA of $45.2 million and an operating cash flow $38.7 million.

Revenue for FY2024 is ahead of FY2023 with revenue growth across key markets in Australia, the United States of America, and the United Kingdom.

Emerging technologies revenues grew by 57.8 percent and now represents 25.1 of group revenue.

This included growth in the aerospace and defence market, where PWR manufactures components for drones, of 100 percent to $21.0 million.

The company added 67 employees during the year and gained early access to its new Australian factory in Staplyton, Queensland, allowing a transition from the Ormeau factory.

The new facility, supported by $8.78 million through the state government’s Invested in Queensland programme, is receiving a $25 million fit out including $13.0 million in new equipment for Australia.

Founding shareholder and Managing Director Kees Weel said: “The full year result reflects a solid performance across all parts of the business which continue to grow and execute well.

“FY2025 will be a transition year for PWR which is crucial to successfully position us for future growth, as we move to our new headquarters in Stapylton.

“Margins will be impacted in the near term as we invest ahead of the curve to set us up for the future.”

The new factory will increase Australian factory space by 84 percent to 20,800m, and Australian manufacturing capacity by more than 100 percent.

Picture: PWR Holdings