Key Highlights

• North America passed a revenue milestone, strengthening its contribution to Redox’s expansion.
• Profitability improved, but underlying earnings reveal a more measured pace of growth.
• Stronger cash generation underpins higher dividends as operating pressures persist.

Redox Limited (ASX: RDX) released its FY26 results on 20 August 2026, followed by its Annual Report on 27 August 2026. Revenue reached a record AU$1,330.21 million for the year ended 30 June 2026, increasing 6.9%, while statutory net profit advanced 19.2% to AU$91.91 million. The Annual Report covers financial results, business development priorities and shareholder information.

Product Mix Helps Lift Profitability

Redox generated approximately AU$298 million in gross profit, an 11.0% increase. Gross margin improved by 0.8 percentage points to 22.4%, reflecting changes in the Asia-Pacific sales mix and better margins across North America.

Underlying EBITDAFX increased 9.9% to AU$133.70 million, while underlying net profit on the same basis rose 9.0% to AU$87.28 million. Both measures exclude unrealised foreign exchange revaluations.

These results demonstrate improved business performance, although the larger statutory profit increase also benefited from favourable unrealised currency movements. That distinction helps explain why reported earnings grew considerably faster than sales.

International Business Builds Scale

North American revenue expanded 33.8% and exceeded AU$100 million for the first time. Growth reflected new customer relationships, additional business from existing clients and the introduction of 47 active products.

Australia remained the largest revenue contributor, with sales increasing 6.1% to approximately AU$1,120 million. The Molekulis integration supported Asia-Pacific operations while extending Redox’s presence in transformer oils supplied to manufacturers and electricity businesses.

Regional conditions were mixed, however. New Zealand sales declined 4.0% as demand weakened in the human health segment.

Cash Improvement Supports Shareholders

Cash generated from operating activities increased to AU$87.81 million, compared to AU$47.83 million, improving financial flexibility.

A final dividend of 6.5 cents per share, fully franked, will be paid to shareholders on 22 September 2026.Annual dividends totalled 13 cents per share, increasing 4% and accounting for 74% of profit.

Growth Depends on Disciplined Execution

Management sees scope to expand through customer growth, additional geographic markets and acquisitions across the fragmented chemical distribution industry.

However, rising employee expenses, transport charges and fuel costs could constrain profitability. Middle East conflict has also affected supply availability, replacement prices and demand.

Maintaining momentum will require Redox to balance expansion with margin protection and effective working-capital management.

Note- All data presented is based on information available at the time of writing.

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