What CEOs have been saying during the ASX reporting season

Insurance

“Inflation is beginning to ease, which is a positive sign, contributing to a moderation in premium increases across our portfolios.” Nick Hawkins, CEO, Insurance Australia Ltd

"Private health insurance membership continues to outpace total population growth…Although I note we have seen a recent trend down in insurance coverage from gold packages." Natalie Davis, CEO, Ramsay Health Care Ltd

Financial Markets

“Yes. We have seen a bit of a pickup in listings.” Helen Lofthouse, CEO, ASX Ltd

Supply Chain & Logistics

"Pallet demand from existing customers improved from subdued levels in the prior year although underlying consumer demand for their products varied by region in 1H25. Conditions improved in the US and Australia, while consumer demand in Europe continued to be impacted by weak macroeconomic conditions." Market Statement, Brambles Ltd

“The industry-wide inventory transition from just-in-case to just-in-time stockholding levels stabilised during the December half. Subsequently, the group has observed improving warehouse utilisation levels and steady volumes through the Port Logistics business." John Sood, CEO, Silk Logistics Ltd

Consumer Electronics & Kitchens

“Whilst we are pleased to see sales momentum continue into January, we remain cautious given the uncertainty in the retail market and the continued competitive activity.” Terry Smart, CEO, JB Hi-Fi Ltd

“Ovens are performing well and other subcategories are finding their footing." Jim Clayton, CEO, Breville Group Ltd

Consumer Banking

“You're well aware that the market we're operating in with our bank remains extremely competitive.” Alexis George, CEO, AMP Ltd

"While market conditions for mortgages were generally soft, as noted at the half year [Jun-24], if interest rates remain stable, then the market should also stabilise over the second half [2HCY24]. This is what happened." Mario Rehayem, CEO, Pepper Money Ltd

Fitness & Wellness

“While many industries face pressures on discretionary spending, the health club sector stands apart. Fitness is a lifestyle choice, and the demand for health and fitness remains stronger than ever.” Harry Konstantinou, CEO, Viva Leisure Ltd

Construction

"We’re now really just seeing that first little bit of competitive tension come back into the front end of the construction process. And that’s encouraging for us.” Campbell Hanan, CEO, Mirvac Group Ltd

"In terms of the outlook, overall construction activity remains relatively soft and less conducive to ongoing price rises." Wes Maas, CEO, Maas Group Ltd

Food & Beverage

“Our premium and commercial portfolio declined approximately 5%, reflecting the continued softness in demand around the globe for wine at lower price points.” Tim Ford, CEO, Treasury Wine Estates Ltd

"This is a challenging QSR [quick service restaurant] environment." Mark Van Dyke, CEO, Domino's Pizza Enterprises Ltd

Automotive

“The Australian and world economies remain challenging. Nonetheless, the Company’s order book remains healthy relative to historical averages and daily sales order intake remains close to historical highs despite declines in new vehicle supply and reduced consumer discretionary spending.” Market Statement, ARB Corporation Ltd

"Over the last eighteen months across our industry, we have seen discretionary servicing needs change. I mean, customers have been pushing service jobs out as they manage their own wallets." Angus Mackay, CEO, Bapcor Ltd

Shopping Centres & Supermarkets

"Outside foot traffic was down approximately 8% on average across the shopping centres that we operate in, continuing the decline that we saw last year." Cameron Fox, CEO, Shaver Shop Group Ltd

“We've seen a significant channel shift with out-of-home consumption declining, a lot of people shifting back into consuming at home. That shifted volume back into the core grocers. But then within that grocery channel, we've seen volumes shifting into retailer own brand and also into some of the more traditional discount retailers being Aldi and Costco in particular. So some significant shifts across those channels.” Pete Findlay, CEO, Bega Cheese Ltd

Travel & Transport

"Traffic grew across all markets in which we operate." Michelle Jablko, CEO, Transurban Ltd

“Convenience retail commenced the year solidly, albeit in a rising fuel price environment. Green shoots of improved trading conditions are evident in New Zealand as the benefits of the rate cutting cycle take effect.” Market Statement, Ampol Ltd

“Looking forward, we continue to see intention to travel from leisure and corporate customers remaining high." Vanessa Hudson CEO, Qantas Airways Ltd

Media & Advertising

"Print advertising declined by 14%, reflecting the softness in travel, business, and luxury goods. While digital advertising revenue proved more resilient declining by just 4% across the half." Graeme Casals, Acting CFO, Nine Entertainment Group Ltd

Defence & Infrastructure

“The outlook for the second half is very positive with potential for the order book to grow further if the Australian Government contracts programs through the Strategic Shipbuilding Agreement, and we continue to see operational improvements on our US build programs and through the increased volume of commercial work in Asia." Patrick Gregg, CEO, Austal Ltd

“In terms of the broader economic settings affecting Downer over the past 3 or so years, higher inflation and labour shortages have been challenging. However, the level of disruption continues to reduce, and we are navigating the remaining areas of price escalation, which continue to remain sticky through our commercial arrangements.” Peter Tompkins, CEO, Downer EDI Ltd

Employment

"Job ad volumes are relatively stable in Australia." Ian Narev, CEO, Seek Ltd

Hard Commodities

“We have seen significantly different markets depending on where you are in the world over the last twelve months...It is hard to see China cutting steel production in the short term and thereby lowering exports. This will continue to dampen global ferrous scrap prices and steel prices.” Stephen Mickelson, CEO, Sims Ltd

Soft Commodities

"Based on current commodity pricing levels and observed trends, Inghams expects some net benefit from lower key feed costs in FY25." Market Statement, Inghams Group Ltd

"In Australia, despite constrained consumer spending, we continue to see resilient consumer demand for supermarket floral product." Hugh Toll, CEO, Lynch Group Holdings Ltd

Schools & Childcare

“Sales growth in the first 7 weeks of H2 has been positive including a record result from Back to School across the business." Daniel Agostinelli, CEO, Accent Group Ltd

“Along with anticipated improving macro factors, we remain cautiously optimistic for a more positive 2025. We have seen momentum in inquiries and tours being booked building in the last few weeks following a slow start.” Pejman Alkavat, CEO, G8 Education Ltd

Residential

"Australia is due a super cycle in residential. Just the sheer demand and lack of availability in the market you'd have to say something has to give in that equation." Mark Schwartz, CEO, Qualitas Ltd

“While we know the short term will have its challenges, the current environment is one Reece has seen before." Peter Wilson, CEO, Reece Group Ltd

Mining Services

“Despite challenging market conditions following a number of site closures leading to instability in the Australian labour pool...The market has [now] turned, labour recoverability has improved, and we are now able to deploy a much larger workforce.” Justin Niwitsch, CEO, Mader Group Ltd

“The market sentiment, as I indicated before, in Asia Pacific at the beginning of the year felt a little bit cool. I think I used the expression previously that it felt like a bit of a chill running down St. George's Terrace here in Perth. And we certainly saw that in the first quarter. But things started to strengthen after that…In fact, I would say now that the order book pipeline that we have ahead of us is probably the strongest. In fact, I think I can be quite clear, it's the strongest that I have seen in my 4 years as CEO of this business.” David Singleton, CEO, Austin Engineering Ltd

SMEs

"Throughout the past few years, despite all the challenges, SMEs have shown resilience and a willingness to invest in growth and efficiency." Chris Bayliss, CEO, Judo Capital Ltd

Capital Cities

“So, calling out a few observations, Brisbane and Adelaide continue to show strength with record high dwelling prices and tighter supply. Sydney's price growth moderated in the late part of 2024 and the supply of housing into New South Wales is well below target. Auckland is showing signs of affordability improvement, and it looks to have turned the corner out of the bottom of the cycle, albeit it's still early days. Melbourne is the weakest capital city market by far with limited signs of near-term recovery.” Phil Kearns, CEO, AVJennings Ltd

"Queensland, in terms of the construction industry, to any great degree, you can't not see what's ahead of that particular industry in that state. So, there's a significant opportunity for Acrow to capitalise on those tailwinds." Steven Boland, CEO, Acrow Ltd

Specialty Health

"One of the significant ones [recent trends] that we are seeing with the cost of living pressures, particularly in the U.S., is that we are seeing a higher rate of cancellations or inquiries that don't follow through when people see they're out of pocket." Dig Howitt, CEO, Cochlear Ltd

"IVF industry demand drivers remain compelling despite some short-term oscillations in some markets and segments over the last twelve months, which followed twelve months of strong industry growth in the calendar year of 2023." Michael Knaap, CEO, Monash IVF Group Ltd

Industrials

“Overall segment growth was tempered by softer consumer activity, which impacted Metropolitan C&I [commercial & industrial] operations.” Mark Schubert, CEO, Cleanaway Waste Management Ltd

“Orora has managed softness in commercial wine and beer volumes in Australia for several years, and in light of this has undertaken a review of glass capacity across the Australasian market.” Brian Lowe, CEO, Orora Ltd

Telecommunications

"But just like mobile networks have not replaced fibre, satellite does not have the capacity to replace mobile in the majority of areas. Terrestrial mobile networks will remain the primary form of connectivity for most people." Vicki Brady, CEO, Telstra Ltd