Ventia shares climb on full-year result, CEO exit
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More news: Shares in Ventia Services soared after the infrastructure group posted a 13% rise in full-year profit and announced that CEO Dean Banks would depart later this year.
Shares were up 7.3% to $5.95 at 11:30am AEDT, taking 12-month gains to 44%.
Ventia CEO Dean Banks to depart, FY25 profit lifts 13% to $258m
The news: Infrastructure group Ventia has announced that its managing director and CEO Dean Banks will step down from his role later this year.
The company also released its full-year earnings this morning, delivering a 13% increase in full-year net profit after tax and amortisation (NPATA) to $257.6 million as ‘work in hand’ hit a record $22.1 billion.
The numbers: The NPATA figure was behind consensus estimates of $268.9 million, according to Visible Alpha.
The company’s full-year underlying earnings before interest, tax, depreciation and amortisation was up 6.6% to $532.1 million.
The company declared a final dividend of 12.54 cents per share, franked at 90%, putting the total dividend at 23.25 cents per share. This is more than the 19.98 cents a year prior and ahead of consensus estimates of 22.56 cents.
The context: Banks, who joined Ventia in January 2021, will step down from his role in Q4 of the 2026 calendar year. He led the company through its listing on the ASX and NZX in November 2021. Ventia said succession planning is “well underway”.
In Banks’ last full-year earnings, Ventia announced NPATA guidance of 7-10% growth, compared to underlying FY26 NPATA.
