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Korvest Ltd (ASX:KOV)

ALERT: Price-sensitive ASX Announcement for KOV
Current share price for KOV : $17.260 4.09 (31.06%)+
Announcement
Release
31 Oct 2025 11:07AM
Price at Release
$13.170
Full Release
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Summary
The Chairman's Address at the Korvest Ltd Annual General Meeting highlighted record financial results for the 2025 fiscal year, with revenue reaching $119.6 million and an after-tax profit of $13.2 million. This success was attributed to strong performances from both EzyStrut and Korvest Galvanisers, despite challenges such as a significant operational issue in November 2024 that led to a 17-day production halt. Major projects contributed significantly to revenue, prompting the announcement of a special 10 cent dividend on top of a 40 cent final dividend. Additionally, the company outlined strategic plans for capacity expansion at the Kilburn site with a $7.4 million investment and future machinery purchases estimated at $4 million, aiming to double capacities in various processes. The outlook for 2026 remains solid, supported by initiatives like the Kilburn site redevelopment and securing gas supply and pricing till 2027.
Key Points
  • Record revenue and profit in FY25 with $119.6M revenue and $13.2M profit.
  • Significant contributions from EzyStrut and Korvest Galvanisers.
  • Operational issue in Nov 2024 resulted in a 17-day production halt.
  • Special dividend of 10 cents announced in addition to a 40 cent final dividend.
  • Kilburn site capacity expansion with $7.4M investment and $4M in machinery purchases.
  • 100% increase expected in strut roll forming, laser cutting, and weld bays.
  • Outlook for FY26 includes Kilburn redevelopment and securing gas supplies.
  • Company focused on strategic growth, cost reduction, and sustainability initiatives.
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.