Coates sees revenue decline and launches sales initiative

Coates in Australia has launched a new sales initiative, Grow30, to increase its market share in the face of mixed conditions in its markets.

The initiative comes as the business reported a 9% decline in sales to A$1.04 billion (€582 million) for the year to 30 June, with sales in the states of Victoria and South Australia 19% lower year-on-year. EBITDA profit was down 8% at A$486 million.

The Grow30 strategy was launched in July and aims to capture greater market share of the estimated A$1.7 trillion pipeline of infrastructure and construction projects that Coates has identified.

It will target sectors such as renewables, utilities, defence, and residential construction, said the company, with a focus on building its specialist divisions and “improving customer alignment.”

The business will expand its portable accommodation and traffic equipment divisions into national offerings, create regional growth plans, and invest in sales systems and customer engagement to improve its responsiveness and customer service.

Ryan Stokes, president of CEO of parent company SGH, told analysts; “The Grow30 strategy for us is about how we look at those different opportunity sets, be it other segments we’re not quite as strong in, that we need to be leaning into, [and] couple that [with] a much stronger focus on sales execution, and we want to grow that share.”

He said the sales performance hadn’t been a highlight in the second half of the 2025 financial year; “We’ve been pushing but haven’t seen that translation of that competitiveness in a sales context as much as we would like. Hence the focus is now on how we drive that.

“We still think we can grow share. We still think we’ve got fleet positioned in the right locations and the ability to move to where there is demand and ultimately have the right base of fleet and original cost basis. All of which sets Coates up to play into that market activity.”

Stokes added that the appointment of a chief revenue officer would drive accountability for sales in the current financial year.

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