Close the Loop Limited achieved its FY24 financial guidance with total revenue of $219m (up 59%) and EBITDA of $45m (up 85%).
North America contributed significantly, representing 58% of revenue and 74% of EBITDA, driven by the successful acquisition of ISP Tek Services (now Close the Loop Renew Solutions).
The company expanded its partnership with HP Inc., becoming HP's first Renew Solutions Platinum Partner, opening new opportunities for sourcing and refurbishing products globally.
Despite challenges in the Australian packaging business, the company maintains a positive outlook for FY25, with strong macro, regulatory, and social tailwinds supporting its growth in sustainable solutions and circularity.
ASX Code: CLG