Aurizon Holdings Limited (ASX:AZJ)

Aurizon Holdings Limited announced their FY2025 financial results, achieving an underlying EBITDA of $1,576 million, which was in line with the revised expectations. Key highlights include a 3% increase in Network EBITDA driven by higher regulatory revenue, a flat Coal EBITDA at $527 million, and a significant 26% decrease in Bulk EBITDA to $169 million, attributed to the cessation of a rail maintenance contract and lower grain volumes. The company's underlying NPAT was $348 million, showing a decline of 14% from the previous year. Statutory NPAT decreased by 25% due to significant items, including a $57 million goodwill impairment. Aurizon declared a final dividend of 6.5 cents per share, fully franked, amounting to a total dividend of 15.7 cents per share for FY2025. Additionally, the board announced an on-market share buy-back of up to $150 million following the completion of a $300 million buy-back in FY2025. Despite challenging market conditions, Aurizon secured a significant contract with BHP, advanced regulatory certainty for its Network business, and continued its cost-out program to position itself for future growth.