Coventry : 19/07/2022 – Q4 FY22 Trading Update

ASX RELEASE

CYG - Q4 FY22 Trading Update

19 July 2022

Coventry Group Ltd (ASX: CYG) announced today an update on the Group's trading.

Full year FY22 Group sales of $322.8m up +11.6% on the prior year.

Robert Bulluss, Group CEO and Managing Director of Coventry Group said, "The Group delivered pleasing full year sales growth despite significant global and COVID-19 related disruption. FY21 acquisitions (HIS Hose and Fluid Power Services) are performing to expectations and recent acquisitions (GHL and Fraser Coast Bolts) have performed well in the first three months post-acquisition. We continue to have a strong pipeline of acquisition opportunities."

Sales growth

Sales growth is being driven by our strong value proposition, activity in our key market sectors, acquisitions and diversification into new markets. Percentage sales growth change for the full year FY22 when compared with the prior year is shown below:

	Segment			Full Year FY22 vs Full
				Year FY21
				% sales change
	Fluid Systems (FS)			+13.4%
Trade Distribution (TD)	+9.0%
Consolidated Group	+11.6%

Global volatility and COVID-19

We are managing the impact of supply chain issues, stock shortages, labour and skills shortages and significant price and cost inflation.

Outlook

The markets in which FS and TD operate are to date performing well. We are pleased to confirm our guidance for FY22:

• FY22 forecast EBITDA (unaudited, pre AASB16 and before one-off/significant items) of $15m to $16m, being 15.7% higher at the mid-point from FY21; and
• FY22 forecast NPBT (before one-off/significant items) of $10m to $11m, being 13.6% higher at the mid-point from FY21.

Authorised for release by the Board of Directors of Coventry Group Limited.

For further information contact:

Robert Bulluss

Chief Executive Officer and Managing Director 0455 664 555

Coventry Group Ltd | ABN 37 008 670 102 | 235 Settlement Road, Thomastown Vic 3074 | Tel: [phone] | www.cgl.com.au