Brambles (BXB) – Road trip review

Brambles operates as a supply-chain logistics company. It operates through CHEP North America and Latin America; CHEP Europe, Middle East, Africa, and India; and CHEP Australia, New Zealand and Asia. The company engages in the pooling of unit-load equipment and associated services, focusing on the outsourced management of pallets, crates, and containers. It serves customers in the fast-moving consumer goods, fresh produce, beverage, retail, and general manufacturing industries. Brambles was founded in 1875 and is based in Sydney, Australia.

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Brambles is currently conducting an investor tour in the US, where management outlined plans to leverage business momentum, further investing in automation/digital assets, and set achievable financial targets. The company has also identified significant whitespace opportunities to convert new customers to its ‘share and reuse’ model in the following key growth markets:

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• US: Up to 60% new business volume growth potential
• Germany: 70% growth potential
• Italy: 70% growth potential
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FY25 guidance assumes 1% volume for new business wins, with a slight improvement to 1–2% per annum from FY26 as whitewood prices recover and customers recognise the benefits of the pooling program.

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