Boral, the Australian building materials giant, is celebrating significant improvement across all its trading metrics in the 2023 financial year.
The company’s AUS$3.46bn (US$2.26bn) revenue was up 17% year-on-year, with EBITDA of AUS$454.4mn (US$296.9mn), equating to a 38% rise against the same 12-month period of 2021-2022. The firm’s EBITDA margin of 13.1% was up year-on-year by 196 bps.
Boral chief executive officer Vik Bansal said: “I am pleased to see Boral deliver full-year results that show clear improvement across the entire business and point to the opportunities that remain ahead. We have seen volume growth across all our products, coupled with a disciplined approach to price, cost, and cash.
“Safety of our people is our highest priority, and zero harm remains our goal. Significant work remains to deliver the best-in-class performance we strive for, and a 47% improvement in our recorded injury rates equates to 83 fewer people injured than the previous year.
“Along with the improvement in the safety of our people, we remain focussed on improving our customer service.”
Bansal commented on Boral’s progress against environment and sustainability goals: “We remain committed to our ambition of net zero emissions by 2050. We are assessing our alignment with a global sectoral approach to reducing emissions in the cement industry. We will continue to point out the benefits that flow from the recarbonation of concrete, acknowledged and confirmed by the Sixth Assessment Report of the United Nation’s Intergovernmental Panel on Climate Change, and advocate for an effective Carbon Border Adjusted Mechanism for Australia.”
