BKW has published its annual report for the fiscal year 2023

Brickworks Limited (ASX: BKW) reported AU$508 million in underlying Net Profit After Tax (NPAT) for the year ending July 31, 2023. Although lower than the prior year, earnings in FY23 were resilient in the face of several challenges such as rapidly increasing interest rates, significant inflationary pressures, widespread labour shortages, and raw materials supply issues. EBITDA stood at AU$784 million, while EBIT reached AU$709 million post depreciation and amortization.

The company's Property division continued to shine during the year, marked by the noteworthy sale of Oakdale East Stage 2 in collaboration with the Industrial JV Trust and Goodman Group (ASX: GMG). Additionally, ongoing development activities at the Oakdale West Estate in Western Sydney further supported property earnings. Despite rising interest rates and significant inflationary pressures, the company achieved a robust increase in market rent for prime industrial properties, leading to a revaluation gain.

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