News & Insights

Cardno Announces FY21 Results

Environmental Services and Professional Infrastructure Consultancy Cardno Limited (ASX:CDD) today announced FY21 pre-AASB16 underlying EBITDAI of $51.2M - up 19% from $43.0M in FY20 and exceeding previously provided market guidance. The company announced a final FY21 dividend of 4.0 cents per share (unfranked).

Full-Year to 30 June 2021 FY 2021
(A$m)
FY 2020
(A$m)
FY Change %
Gross Revenue 890.4 978.3 (9.0%)
Fee Revenue 612.7 677.1 (9.5%)
Underlying EBITDA1 (pre AASB 16) 51.2 43.0 19.0%
Underlying EBITDAI1 (inc AASB 16) 78.5 73.5 6.8%
Underlying NOPAT2 27.7 9.4 194.7%
Net Profit after tax 32.7 56.6 (42.2%)
Operating Cash Flow3 62.6 73.5 (14.8%)
EPS from continuing operations – basic (cents) 7.88 (15.07) 152.3%
Dividend declared (cents per share)4 5.5 - -

EBITDA = EBIT plus underlying adjustments, depreciation, amortisation and impairment losses. 
2 NOPAT = NPAT plus underlying adjustments and tax effected impairment losses.
3 In FY2020 Cardno received a deferral of $12.0M of Australian GST and payroll taxes, being a concession provided by the Australian Taxation Office associated with the COVID-19 pandemic. $10.4M was repaid in 1HY21.
4 Interim Dividend of 1.5 cents per share (60% franked), Final Dividend of 4.0 cents per share (unfranked).

Cardno Chairperson Michael Alscher said:

“I am pleased to report that your company achieved results that were both up on last year and ahead of guidance with an underlying Earnings Before Interest Tax Depreciation Amortisation and Impairment of $51.2 million (stated on a pre-AASB 16 basis). This represents a 19% increase on last year’s result. Pleasingly, this is the fifth year in a row where Cardno has hit or exceeded market guidance”.

“Cardno’s clients are B2B (business to business) or B2G (business to government). At FY21 year end Cardno’s working capital metrics approached best practice and net debt was positive (cash exceeded debt). Despite the challenges associated with COVID-19, Cardno commences FY22 with encouraging levels of backlog and pipeline of future work.

“As we advised last year, in FY22 some Cardno businesses will undoubtedly be impacted by the COVID-19 pandemic, but equally some businesses stand to gain both market share and share of wallet.

“The Board expects that the business will continue to grow from its FY21 level, but the Board has chosen to not provide explicit earnings guidance to the market for FY22 due to the ongoing Strategic Review process”.

Please view the announcement here.

For all media enquiries please contact:

Jackie McPhee
Corporate Marketing Manager
t: +61 7 3100 2142
m: 0421 896 983
e: Jackie.McPhee@cardno.com.au

 


To view all of our ASX announcements, please visit our company page on the Australian Securities Exchange here.