市场见解

Brambles (ASX:BXB) share price up on 17% increase to after tax profits

Let’s take a look at how Brambles performed over FY21.
The post Brambles (ASX:BXB) share price up on 17% increase to after tax profits appeared first on The Motley Fool Australia. –

The Brambles Limited (ASX: BXB) share price is 3.17% higher today after the global supply chain logistics company released its results for the financial year (FY21) last night.

Right now, shares in Brambles are going for $12.38 a piece.

Brambles share price jumps on profit increase

Here’s how Brambles performed during FY21:

Sales revenue of around US$5.2 billion – a 7% increase

Earnings before interest, tax, depreciation, and amortisation (EBITDA) of around US$1.74 billion – up 11% on FY20
US$526 million of profits after tax, 17% more than in FY20
An 8% increase in underlying profits, which reached US$879.3 million
Fully franked 14.24-cent final dividend announced

At the end of the period, Brambles had US$409 million in cash in the bank and around US$2.05 billion of debt.

What happened in FY21 for Brambles?

Over the financial year just been, Brambles reported a 5% increase in its revenue from pallets. The gain was mainly driven by an increase in demand caused by COVID-19 and Brexit, as well as new wins in central and eastern Europe.

The company’s RPCs & Containers’ revenue grew 6% due to the recovery in the automotive business and the impact of COVID-19 shutdowns in the fourth quarter of FY20.

The company experienced increased transport and handling costs, again caused by Brexit stockpiling in Europe and COVID-19 related supply chain disruptions.

Brambles also continued its ongoing on-market share buy-back through FY21. As of 30 June 2021, the company had purchased 158 million of its own shares for around $1.75 billion.

Additionally, Brambles achieved carbon neutrality over the period. It also launched what it calls “ambitious” sustainability goals to be reached by 2025.

What did management say?

Brambles’ CEO Graham Chipchase commented on the results driving the Brambles share price higher today:

I am very proud of how our teams responded to the challenges we faced in 2021 and our ability to strengthen our global leading position in sustainability while continuing to manage ongoing uncertainty across supply chains due to COVID-19, Brexit and the unprecedented conditions experienced across global lumber markets.

Looking forward, we are accelerating our Shaping Our Future programme to transform our business to benefit our people, our customers, and our shareholders. This will include a step change in digitisation and improved customer experience as well as further developing our culture of innovation and continuous improvement.

What’s next for Brambles?

According to Brambles, it plans to provide detailed guidance for FY22 at its investor day in September.

However, here’re some forward-looking plans that might boost the Brambles share price in FY22.

The company’s on-market share buy-back is expected to be completed in FY22, subject to funding and liquidity.

Additionally, it plans to increase the efficiency and resilience of its operations and develop industry-leading standards for customer experience, service quality, and innovation in FY22.

Brambles also expects to unlock value using digital technology and data analytics across its operations. It will use the technology and data to simplify its processes to be more efficient.

The company hopes its FY22 efforts will have a positive effect on its bottom line in FY23.

Brambles share price snapshot

The Brambles share price has gained 16.75% year to date. It is also currently 10% higher than it was this time last year.

The post Brambles (ASX:BXB) share price up on 17% increase to after tax profits appeared first on The Motley Fool Australia.

Should you invest $1,000 in Brambles right now?

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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned.

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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