ARB Corporation Ltd
F:A7W
ARB Corporation Ltd
ARB Corp. Ltd. engages in the design, manufacture, distribution, and selling of motor vehicle accessories and light metal engineering work. Its product range includes a host of different accessories, from vehicle specific applications to a range of accessories, which are suitable for vehicles. Its products include earth camper; bull bars; side rails and side steps; rear protection, towing and wheel carriers; canopies; UTE lids and tub accessories; roof racks, cross bars and carriers; Old Man Emu 4X4 Suspension; Linx; driving lights; air compressors and tire accessories; air lockers; winches; recovery equipment; recovery points; under vehicle protection; fuel tanks and fuel storage; drawers and cargo solutions; slide kitchen; portable fridge freezers; tents, swags and awnings; camping and touring accessories; UHF radios, GPS and reverse cameras; safari snorkels; dual battery and solar systems; general accessories; interior protection, and merchandise.
ARB Corp. Ltd. engages in the design, manufacture, distribution, and selling of motor vehicle accessories and light metal engineering work. Its product range includes a host of different accessories, from vehicle specific applications to a range of accessories, which are suitable for vehicles. Its products include earth camper; bull bars; side rails and side steps; rear protection, towing and wheel carriers; canopies; UTE lids and tub accessories; roof racks, cross bars and carriers; Old Man Emu 4X4 Suspension; Linx; driving lights; air compressors and tire accessories; air lockers; winches; recovery equipment; recovery points; under vehicle protection; fuel tanks and fuel storage; drawers and cargo solutions; slide kitchen; portable fridge freezers; tents, swags and awnings; camping and touring accessories; UHF radios, GPS and reverse cameras; safari snorkels; dual battery and solar systems; general accessories; interior protection, and merchandise.
Sales Decline: ARB's sales revenue for the half year was $358 million, down 1% as new vehicle sales softened globally, especially impacting the Australian aftermarket and OEM channels.
Profit Drop: Profit before tax fell 18.8% to $57.1 million, with underlying profit down 16.3%, mainly due to lower gross margins from FX headwinds and reduced factory overhead recoveries.
Strong U.S. Growth: U.S. sales were a bright spot, growing 26.1% thanks to relationships with Toyota and eCommerce, and the integration of the ORW and 4 Wheel Parts acquisition.
Margin Pressure: Gross margins declined due to a weaker Australian dollar against the Thai baht and lower factory recovery, but margin improvement is expected in the second half as FX headwinds are largely hedged and prices have risen.
Cash & Dividends: ARB ended the half with $59.4 million in cash and no debt, after paying $59.3 million in dividends, including a $0.50 special dividend. An interim dividend of $0.34 per share was declared, unchanged from last year.
Order Book & Outlook: The order book is up 5% year-on-year, and management expects improved financial performance in the second half, with margin and sales trends forecast to rebound.
Store & Channel Expansion: ARB continues to invest in new store openings, eCommerce, and an expanded U.S. footprint, aiming to drive future growth.
