Reliance Worldwide Corporation Limited (RLLWF) Q4 2026 Earnings Call Transcript

Operator

Thank you for standing by, and welcome to the Reliance Worldwide Corporation Full Year Earnings Call. [Operator Instructions]

I would now like to hand the conference over to Heath Sharp, CEO. Please go ahead.

Heath Sharp
CEO, MD & Director

Good morning, everyone. Welcome to RWC’s Financial Year 2026 Results Call. This is Heath Sharp, and I’m joined here in Sydney by Andrew Johnson, our CFO.

This morning, we released our full year results material. But before we turn to the results, I want to deal with our second announcement this morning. So let’s start on Slide 3 of our presentation.

RWC has entered into a process deed with Brookfield Capital Partners on August 17. This relates to Brookfield’s unsolicited nonbinding indicative proposal to acquire RWC for AUD 4.75 cash per share. The proposal follows earlier approaches from Brookfield at $4.15, $4.25 and $4.50 per share, which the board considered insufficient.

Following a period of engagement including providing Brookfield with nonpublic information over an approximately 8-week period, Brookfield submitted its current $4.75 proposal. The proposal values RWC at an enterprise value of approximately AUD 4.1 billion. This represents an FY ’26 EV-to-EBITDA multiple of 12.9x on a pre-AASB 16 basis. This is at the upper end of