Kelsian Group Limited (ASX: $KLS) FY24 Half Year Results Overview

Kelsian Group Limited (ASX: $KLS) has reported its half year results for the six months ended 31 December 2023, with a 44.9% revenue growth to $982.7m. The underlying EBITDA grew by 63.5% to $130.5m, reflecting the successful integration of All Aboard America! Holdings, Inc. ('AAAHI') and new Sydney contracts. The company also achieved a solid progress in the integration of AAAHI and established a ring-fenced financing structure to fund and house Government-backed assets.

Executive Commentary on FY24 Half Year Results

Kelsian's Managing Director & Group Chief Executive Officer, Clint Feuerherdt, highlighted the successful execution of the company's growth strategy, emphasizing the seamless transition of new contract regions in Sydney and the continued growth of the Marine & Tourism business. Feuerherdt also expressed confidence in Kelsian's leadership position in electric vehicles and the company's ability to maintain competitive advantage as governments focus on decarbonisation.

Summary of FY24 Half Year Results and Outlook

Kelsian's FY24 half year results reflect the successful execution of its growth strategy, driven by new organic growth and strategic acquisitions. The company's ambitions include maintaining its leadership position in electric vehicles, leveraging synergies and efficiencies from the integration of new contracts and acquisitions, and benefiting from government's focus on decarbonisation and traffic reduction. With a strong management team and a resilient business model, Kelsian is well positioned to continue delivering growth underpinned by economies of scale, efficiencies, and global procurement opportunities.