Austin Engineering (ANG) AGM 2026 summary

Opening remarks and agenda

• AGM opened with quorum confirmed; agenda covered FY2026 financial statements, remuneration, director re-election, CEO incentive-plan participation, the CEO address and stakeholder Q&A.

• Webcast viewers could watch and submit written questions but could not vote or participate in the meeting.

Financial performance review

• FY2026 revenue was AUD 329.0m versus AUD 376.7m; EBITDA was AUD 20.4m versus AUD 43.0m, and EBIT was AUD 10.8m versus AUD 33.2m, excluding FX and for continuing operations.

• Operating cash flow rose to AUD 26.7m from AUD 2.6m, supported by a AUD 32.2m inventory reduction; free cash flow was AUD 19.9m and net debt fell to AUD 5.8m from AUD 12.8m.

• APAC revenue was AUD 147.1m and EBITDA AUD 24.9m; its full-year EBITDA margin was 16.9%, with the 2H margin improving to 18.7% from 15.0% in 1H.

• North America revenue was AUD 127m and EBITDA AUD 9.5m, down from AUD 18.3m; its margin fell to 7.5% from 12.5%.

• South America recorded an AUD 9.3m EBITDA loss; a legacy OEM contract contributed AUD 5.7m of loss on AUD 21m revenue, alongside higher labour, contractor and steel costs.

Board and executive committee updates

• FY2026 was Sybrandt van Dyk’s first year as CEO and Managing Director; the Chair cited his operational experience and detailed business knowledge during a period of change.

• Workforce totaled 1,314 at FY2026 year-end, down from 1,616 a year earlier, as staffing and costs were aligned with available work.

• Management strengthened production systems, workforce capability, regional structures, contract discipline and operating controls.