SGH Ltd

L1 Capital Long Short Fund continues to hold Seven Group Holdings after a strong trading update at its AGM in November, with the company forecasting double-digit earnings growth for its WesTrac and Coates business units in FY23. These units, which represent about two-thirds of group earnings, are positioned for continued growth as investment in mining, construction, and infrastructure rises. Additionally, Seven's 72.6% stake in Boral, a major Australian building materials company, offers further upside potential. While Boral’s earnings have been impacted by rising input costs and wet weather, L1 Capital believes that, under new leadership and in a more stable trading environment, Boral could more than double its earnings over the medium term.

L1 Capital Long Short Fund continues to hold Seven Group Holdings following a strong trading update at its AGM, where the company announced double-digit earnings growth expectations for its WesTrac and Coates business units in FY23. These divisions, which account for about two-thirds of group earnings, are poised for continued growth, driven by increasing investment in mining, construction, and infrastructure. Additionally, Seven holds a 72.6% stake in Boral, a leading construction materials company in Australia. While Boral's earnings have been affected by rising input costs and wet weather delays, L1 Capital remains optimistic about the company's prospects under new leadership. In a normalized environment, Boral has the potential to significantly increase earnings, which supports L1 Capital's positive medium-term outlook for Seven Group.

L1 Capital Long Short Fund continues to hold its position in Seven Group Holdings after the company reported strong FY23 results and provided a positive outlook for FY24, forecasting high-single-digit EBIT growth. The Fund remains optimistic about Seven's key businesses, WesTrac and Coates, which are well-positioned for medium-term growth as investments in mining, construction, and infrastructure continue to rise. Additionally, Seven holds a 71.6% stake in Boral, one of Australia's largest building and construction materials companies. While Boral has faced earnings challenges due to rising input costs and weather-related delays, L1 Capital sees significant upside potential. With new leadership and a return to a more normalized trading environment, the Fund believes Boral has the potential to double its earnings over the medium term.

L1 Capital Long Short Fund continues to hold its position in Seven Group Holdings (SGH), which has seen strong share price growth, rising 26% following its solid FY23 results and an optimistic outlook for FY24, with high-single-digit EBIT growth expected. The company’s subsidiaries, WesTrac and Coates, are well-positioned for continued growth, supported by ongoing investment in mining, construction, and infrastructure. Additionally, Seven’s 71.6% stake in Boral, a major Australian building and construction materials company, adds significant value to the portfolio. Despite Boral’s recent earnings challenges due to rising input costs and adverse weather conditions, L1 Capital believes that under new leadership and in a more normalized trading environment, Boral has the potential to significantly increase its earnings. This combination of strong performance in WesTrac and Coates, alongside the recovery potential in Boral, underpins L1 Capital’s continued confidence in Seven Group's growth trajectory over the medium term.

L1 Capital Long Short Fund continues to hold its position in Seven Group Holdings following strong FY23 results and a positive outlook for FY24, with high-single-digit EBIT growth expected. The Fund is encouraged by the strong performance of WesTrac and Coates, which are well-positioned to benefit from increased investment in mining, construction, and infrastructure over the medium term. Additionally, Seven Group holds a 71.6% stake in Boral, one of Australia's largest building and construction materials companies. Although Boral’s earnings have been impacted by surging input costs and wet weather, L1 Capital believes that under new leadership and in a normalized environment, Boral has the potential to significantly grow its earnings, potentially doubling from FY23 levels over the medium term.