Macquarie Technology Group (MAQ) investor relations material

Executive summary

• Revenue grew 6% year-over-year to $390.0m in FY26, with EBITDA up 2% to $115.9m and EPS down 8% to 124.6 cents per share.

• Twelve consecutive years of EBITDA growth, with FY26 results in line with guidance and a 3-year EBITDA CAGR of 4.0%.

• 95% of revenue is from contracted monthly recurring revenue, supporting stability.

• Major investments in digital infrastructure, including IC3 SuperWest and the Macquarie Engineering & Technology Campus (METC), with a new 34,200sqm site acquisition for $240m.

• Secured $200m investment from the National Reconstruction Fund Corporation, enhancing balance sheet flexibility and supporting technological innovation.

Financial highlights

• FY26 revenue: $390.0m (+5.5% vs FY25); EBITDA: $115.9m (+2.0%); NPAT: $32.1m (-8.0%).

• Operating cash flow: $94.6m; cash conversion rate: 108%.

• Capital expenditure totaled $230.5m, with $193.3m growth capex.

• Strong balance sheet with $4.9m cash, $496.5m undrawn debt, and $100m hybrid securities available.

• 95% of revenue derived from contracted monthly recurring revenue.

Outlook and guidance

• Modest EBITDA growth expected in FY27, with IC3 SuperWest Phase 1 revenue commencing in 2H FY27.

• FY27 is a year of strategic investment, focusing on cloud, AI, cyber security, and telecom solutions.

• IC3 SuperWest Phase 1 (6MW) to be delivered by September 2026; Phase 2 (13MW) by June 2027.

• Group capex for FY27 expected between $485m and $506m, with significant investments in data centres and technology campus.

• Telecom EBITDA expected to decline by $2m–$3m in FY27, with margins in mid to high teens.