Wagners Guides FY27 EBIT of $72m to $76m, Wins PNG LOI

Wagners (ASX:WGN) used its AGM trading update to set FY27 EBIT guidance of between $72 million and $76 million and to disclose a Letter of Intent for supply to the PNG LNG project.

H1 FY27 EBIT is guided at between $40 million and $42 million. The company reports robust demand for cement, concrete and quarry products as South-East Queensland projects move from planning into delivery, and strong Composite Fibre Technologies order activity led by cross arms and utility poles from electricity networks in Australia and New Zealand. A new concrete plant at Caboolture is in the final stages of commissioning, and three further sites will move to planning and approval. The JGC-Hyundai Joint Venture issued Wagners a Letter of Intent for aggregates and concrete supply to the PNG LNG project, with Wagners' scope valued between US$50 million and US$55 million over a two-and-a-half year period. The guidance allows for increased clinker and shipping costs in the second half that could be up to $5million, and seasonal volume effects that could be up to $3million.

The PNG LNG project remains subject to a Financial Investment Decision expected mid-December 2026. The guidance assumes current market conditions continue, and the company says the clinker and shipping cost impact is not yet certain.