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Codan Limited (ASX:CDA)

ALERT: Price-sensitive ASX Announcement for CDA
Current share price for CDA : $50.100 6.62 (15.23%)+
Announcement
Release
20 Aug 2026 9:00AM
Price at Release
$43.480
Full Release
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Summary
Codan Limited reported a strong financial performance for FY26, with a total revenue increase of 30% to $875 million. The Communications segment saw a 22% rise in revenue, bolstered by strong demand for unmanned systems and defense applications, contributing to a 45% increase in segment profit. The Metal Detection segment also experienced significant growth, with revenue up 42% and segment profit rising by 65%, driven by global demand for gold detectors. The company's Earnings Before Interest and Tax (EBIT) surged 67% to $244.1 million, and Net Profit After Tax (NPAT) increased by 69% to $175.2 million. Codan maintained a robust balance sheet with significant cash flow improvements and a substantial reduction in net debt. The company continued to invest heavily in engineering, with $78 million spent, equating to 9% of group revenue, to support ongoing product innovation and market competitiveness.
Key Points
  • Strong group financial performance with revenue of $875 million, up 30% from FY25.
  • Communications revenue increased by 22% to $506.2 million.
  • Metal Detection revenue increased by 42% to $362 million.
  • Earnings Before Interest and Tax (EBIT) rose by 67% to $244.1 million.
  • Net Profit After Tax (NPAT) increased by 69% to $175.2 million.
  • Communications segment profit was $156 million, up 45%.
  • Metal Detection segment profit was $162.4 million, up 65%.
  • Group NPAT margin increased to 20.0% of revenue from 15.3%.
  • Strong cash flow and a significant reduction in net debt by $123.9 million.
  • Substantial engineering investment of $78 million, accounting for 9% of group revenue.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.