Reliance Worldwide Corporation released trading update for September 2022 quarter.

Reliance Worldwide Corporation Limited (ASX: RWC) has provided trading update for quarter ended 30 September 2022.

1. Sales for the period were US$303.1 million, up 23% on the prior corresponding period. It includes net sales of US$53.8 million from EZ-Flo which was acquired in November 2021.

2. Sales growth apart from EZ-Flo was driven by price rises of 7.9% achieved to offset inflation.

3. EBITDA increased 16% to US$76.8 million compared to the previous corresponding period (pcp).

4. Net debt stood at US$518.2 million at 30 September 2022. This debt was US$32.9 million lower than at 30 June 2022, due to US$25.2 million received from the sale of a surplus property in the UK.

5. Net debt increased significantly by 223% to US$518.2 million on pcp.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au