- Johns Lyng Group (JLG) has announced a robust financial year performance in FY21, increasing sales revenue by 14.8 per cent
- Earnings before interest, taxes, depreciation, and amortisation (EBITDA) grew 28.3 per cent to $52.6 million
- Johns Lyng CEO Scott Didier says the results showcased that the businesses operations are broadly insulated from COVID-19 factors
- Shares in JLG fell 5.81 per cent to $6 at the end of trading
Johns Lyng Group (JLG) has announced a robust performance in FY21, increasing sales revenue by 14.8 per cent, driven by performance in the group’s core Insurance Building and Restoration Services (IB&RS) arm.
Earnings before interest, taxes, depreciation, and amortiSation (EBITDA) grew 28.3 per cent to $52.6 million.
The IB&RS division recorded 29 per cent business as usual (excluding FY20 acquisitions) EBITDA growth from FY20, which LJG said was driven by a high volume of job registrations across the year and the signing of new and renewed contracts with insurance industry clients.
EBITDA from catastrophe (CAT) activity grew 7.8 per cent, as the group responded to major disasters in New South Wales, Queensland, Victoria and Western Australia over the course of the year.
Johns Lyng CEO Scott Didier said the results showcased that the businesses operations are broadly insulated from COVID-19 factors.
“Our CAT response activity during the year was again a clear indication of the value of the national scale we have built, responding to disasters from southeast Queensland to coastal Western Australia,” he said.
“The growing strength of our offering was recognised late in the year when we entered into a partnership with the State Government of Victoria, for clean-up and Makesafe works on damaged properties following a significant storm event in June.
“This is a major milestone for our Group, with works expected to be conducted over several distinct phases.”
The company acquired Change Strata Management (CSM), Structure Building Management (SBM) and Shift Facilities Management and Bright & Duggan during the period in the strata market.
It also acquired Unitech Building Services and Steamatic Australia to increase its footprint in the CAT market.
The group declared a final dividend of 2.8 cents per share (fully franked), in addition to the previously announced half-year dividend of 2.2 cents per share (fully franked), for a total of five cents per share and roughly 61 percent of NPAT attributable to shareholders in FY21.
JLG has forecasted a sales revenue of $635.4 million and a EBITDA of $60.1 million in Fy22.
Shares in JLG fell 5.81 per cent to $6 at the end of trading.