EBOS Group Limited (EJG) Q4 2026 Earnings Report

The call communicated solid top‑line growth, completion of a major A$360m infrastructure program that materially reduces future capital needs, meaningful momentum in higher-growth divisions (Animal Care, Medical Technology, Retail Pharmacy Brands) and a disciplined M&A and capital allocation approach. Temporary headwinds were acknowledged — notably FX translation, fuel costs, margin pressure and a known NZ contract roll-off — but management framed these as manageable or transitory and backed guidance that excludes further acquisitions. Balance sheet metrics, free cash flow generation and a maintained dividend were highlighted as strengths. Overall the positives (portfolio re‑positioning, completed investment cycle, strong divisional growth and capital flexibility) outweigh the measurable but contained lowlights.

EBOS guided FY27 underlying EBITDA of A$635–655 million (midpoint ~A$645m), implying mid‑single‑digit EBITDA growth and explicitly excluding any new acquisitions; CapEx is expected to normalise to ~A$100m (down from A$145m in FY26), supporting stronger free cash flow after FY26 reported free cash flow of A$204m and facilitating ~A$150m of additional bolt‑on M&A capacity within a leverage ceiling of 2.3x (FY26 leverage 2.1x, target range 1.7–2.3x) and with A$726m undrawn committed facilities and WA debt maturity >3 years. Management also flagged a targeted 30% productivity uplift at Kemps Creek by end FY27, stable cash conversion days (~20) and only A$7m NWC growth on 10% revenue growth, while noting depreciation and financing costs will be elevated as recent investments are annualised and the final dividend was maintained at A$0.615 per share.