Gale Pacific FY24 financial results overview

Gale Pacific (ASX:GAP) has released its FY24 financial results, revealing a 7% drop in revenue to $174 million. The company, known for its innovative and sustainable fabric solutions, reported a 31% decrease in EBITDA to $14.2 million and a net profit after tax loss of $0.3 million. Despite these challenges, Gale Pacific has made significant improvements in net cash from operating activities, reaching $26.7 million.

Gale Pacific's strategic outlook and future plans

Gale Pacific is navigating a challenging FY24 with a focus on innovation and sustainability. The company's strategy includes maintaining market leadership in Australia/New Zealand, driving growth in the Americas, and investing in developing markets. Key initiatives involve expanding omni-channel retail presence and optimizing global operations. The successful implementation of a new ERP platform is expected to enhance efficiency. Despite lower consumer demand in certain regions, Gale Pacific is optimistic about its future, with a positive sales performance in Bunnings and growth in the Middle East and Europe. The company anticipates H1 FY25 EBITDA to be between $5.5M and $6.5M, with further guidance expected in February 2025.

Executive insights on Gale Pacific's performance

Our focus remains on driving growth through innovation and sustainability. Despite a challenging year, we have successfully implemented strategic initiatives that position us for future success. We are committed to maintaining market leadership and optimizing our operations across key markets.