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Close the Loop Ltd (ASX:CLG)

ALERT: Price-sensitive ASX Announcement for CLG
Current share price for CLG : $0.043 0.005 (13.16%)+
Announcement
Release
24 Aug 2026 10:04AM
Price at Release
$0.038
Full Release
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Summary
Close the Loop Ltd. reported its FY26 results on 24 August 2026, highlighting a strategic reset that resulted in a more focused portfolio and improved financials. The company achieved a 6% increase in revenue to $125.6 million and a 34.2% rise in EBITDA to $12.4 million, while also reducing net debt by 52% since the year-end to $18.3 million. The Packaging Division performed exceptionally well, whereas the Resource Recovery Division underperformed due to restructuring. Looking forward to FY27, the company will concentrate on executing strategies to grow high-margin businesses, enhance profitability through AI and automation, and improve cash generation.
Key Points
  • Close the Loop Ltd. (ASX: CLG) released its FY26 results on 24 August 2026.
  • The company undertook significant strategic restructuring to simplify its portfolio and focus on high-margin businesses.
  • Revenue for FY26 increased by 6% to $125.6 million.
  • Gross profit rose by 25%, with a gross profit margin increase to 36.8%.
  • EBITDA grew by 34.2% to $12.4 million.
  • Net debt was reduced by 29% to $38.1 million by the end of FY26, with further reduction to $18.3 million by 31 July 2026.
  • The Packaging Division showed strong performance with 16% revenue growth and 48% EBITDA growth.
  • The Resource Recovery Division faced challenges, resulting in an EBITDA loss of $2.8 million.
  • The company plans to enhance operational efficiency through AI, automation, and technology-enabled processes.
  • For FY27, Close the Loop aims to focus on execution, improving profitability, and increasing cash conversion.
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.