GenusPlus (ASX: $GNP) Earnings Guidance Upgrade Announcement

GenusPlus Group Ltd (ASX: $GNP) has announced an increase in its EBITDA guidance for the FY2024 financial year. The revised guidance reflects a better than forecast financial result for the March 2024 quarter, driven by current projects performing ahead of expectations and earlier project starts than originally anticipated during the second half of the financial year. Genus anticipates normalised FY2024 EBITDA growth to be in the range of 20% - 25%, exceeding the previous guidance of 10-15%.

Executive Commentary on Earnings Guidance Upgrade

The upgraded guidance, recent contract awards, and increased momentum in industry tailwinds, supports management's confidence in the continued growth and resilience of the business in the current market environment and its continued growth in FY2025 and beyond. Genus remains committed to delivering long-term value to our shareholders and stakeholders. We believe that our continued focus on safety, customer satisfaction and expertise including to support the national energy transition will sustain our growth trajectory and drive shareholder returns.

Summary of GenusPlus (ASX: $GNP) Earnings Guidance Upgrade

GenusPlus Group Ltd (ASX: $GNP) has upgraded its EBITDA guidance for the FY2024 financial year, anticipating a 20% - 25% growth compared to the previous year. The improved financial performance in the March 2024 quarter, along with recent contract awards and industry tailwinds, has bolstered management's confidence in the company's growth and resilience. Genus remains focused on delivering long-term value to shareholders and stakeholders, emphasizing safety, customer satisfaction, and expertise to support the national energy transition, aiming to sustain its growth trajectory and drive shareholder returns.