Codan Ltd banner

Codan Ltd
OTC:CODAF

Watchlist Manager
Codan Ltd Logo
Codan Ltd
OTC:CODAF
Watchlist
Price: 23.61 USD Market Closed
Market Cap: $4.3B

Codan Ltd
Investor Relations

Codan Ltd is an Australian industrial technology company that makes radio communications equipment, metal detection gear, and related electronic systems. Its products are used in places where reliable communication or detection matters, such as mining sites, emergency services, remote work sites, and security or recreational metal detecting. The company sells hardware, software, and accessories, and it also earns money from after-sales support, spare parts, and service. A big part of Codan’s business is rugged equipment that works in harsh, remote environments where ordinary consumer devices are not enough. In communications, it supplies satellite and high-frequency radio products that help teams stay connected when mobile networks are unavailable. In detection, it sells metal detectors used by hobbyists, prospectors, and professional users, which gives the company exposure to both specialist industrial customers and consumer buyers. What makes Codan’s business model different is that it sits at the intersection of mission-critical communications and detection hardware. Customers buy its products because reliability matters more than low cost, so the company competes on durability, performance, and support rather than mass-market scale. That gives Codan a focused role in the supply chain: it designs specialized equipment, sells through dealers and direct channels, and builds recurring relationships through service and replacement demand.

Show more
Loading...
No Stocks Selected

Compare the stock's returns with its benchmark index and competitors. Gain insights into its relative performance over time.

Select Stock to Compare
Last Earnings Call
Fiscal Period
Q2 2026
Call Date
Feb 19, 2026
AI Summary
Q2 2026

Strong Growth: Codan reported group revenue up 29% to $394 million, with EBIT up 52% and NPAT up 55% to $71 million, reflecting robust growth in both Communications and Metal Detection.

Segment Performance: Communications revenue rose 19% to $222 million, and Minelab (Metal Detection) revenue jumped 46% to $168 million, with segment margins expanding to 45%.

Margin Strength: NPAT margin improved to over 18%, and Minelab’s 45% contribution margin is expected to be sustainable into H2.

Order Book Visibility: Communications order book up 19% to $294 million, supporting revenue visibility into the second half.

Dividend Increase: Interim dividend raised to $0.195 per share, up 56% year-on-year.

Positive Outlook: Communications is on track for 15%-20% FY '26 revenue growth; Minelab’s H2 revenue is expected to be at least in line with H1.

Leadership Transition: CFO Michael Barton will retire after FY '26; Deputy CFO Kayi Li named as successor.

Key Financials
Revenue
$394 million
NPAT
$71 million
NPAT Margin
over 18%
Interim Dividend per Share
$0.195
Net Debt
$88 million
Engineering Investment
$36 million
Engineering Investment as % of Revenue
9%
Leverage
0.4x EBITDA
Undrawn Debt Facility
$140 million
Accordion Capacity
$150 million
Tax Rate
25%
Communications Revenue
$222 million
Communications Segment Profit
$58 million
Communications Segment Margin
26%
Communications Order Book
$294 million
DTC Unmanned Revenue
$73 million
Minelab Revenue
$168 million
Minelab Segment Margin
45%
Earnings Call Recording
Other Earnings Calls
2026

Management

Mr. Alfonso Ianniello
MD, CEO & Director
No Bio Available
Mr. S. Paul Sangster B.S.
President & Executive GM of Tactical Communications
No Bio Available
Mr. Ben Harvey B.A., M.B.A.
President & Executive GM of Minelab
No Bio Available
Mr. Scott A. French B.Sc.
President & Executive General Manager of Zetron
No Bio Available
Mr. Michael Barton B.A., BA (Acc), CA, F.C.A.
CFO & Company Secretary
No Bio Available
Mr. Daniel Hutchinson B.Com., L.L.B.
Executive General Manager of Strategy, Corporate Development & M&A
No Bio Available
Ms. Marjolijn Woods
Chief Human Resource Officer
No Bio Available

Contacts

Address
SOUTH AUSTRALIA
Technology Park, 2 Second Avenue, Mawson Lakes
Contacts
+61883050311.0
codan.com.au
Get AI-powered insights for any company or topic.
Open AI Assistant

Intrinsic Value is all-important and is the only logical way to evaluate the relative attractiveness of investments and businesses.

Warren Buffett