Perenti (PRN) investor relations material

Executive summary

• Achieved record underlying EBITA of AUD 340 million, up 2% year-over-year, with revenue steady at AUD 3.46 billion and a strategic shift in revenue mix from Africa to Australia and North America.

• Fifth consecutive year meeting guidance, with strong second-half earnings.

• Portfolio transition included divestment of BTP Group and exit from surface mining in Ghana/West Africa, recycling capital into higher-return opportunities.

• Strong safety performance with zero fatalities and improved injury rates and critical control management.

• Statutory NPAT fell to AUD 44 million due to non-cash impairments and losses on discontinued operations.

Financial highlights

• EBITA margin increased to 9.8%, a record level; EBITDA of AUD 652 million, down 2% from FY25.

• Underlying NPATA grew 8% to AUD 192 million; underlying EPS up 7.3% to AUD 0.205 per share.

• Free cash flow of AUD 182 million exceeded upgraded guidance; operating cash conversion at 97%.

• Final dividend of AUD 0.045 per share, total FY26 dividend AUD 0.0775 per share, up 7%.

• Leverage at 0.4x and gearing at 12.8%, with net debt reduced to AUD 271 million.

Outlook and guidance

• FY27 revenue guidance: AUD 3.45–3.65 billion; EBITA: AUD 335–355 million; net capital expenditure expected at AUD 370 million.

• Portfolio management to unlock ~AUD 150 million for reinvestment; earnings expected to be 2H-weighted.

• Work in hand at AUD 6.2 billion; tender pipeline at AUD 20 billion, with strong opportunities in Australia and North America.

• Drilling utilization expected to rise to mid-70% in FY27.

• Guidance assumes completion of BTP Group sale.