Baker Technology (BTP) H1 2026 earnings summary

Executive summary

• 1H2026 revenue fell 16% YoY to $19.3m; net loss narrowed to $10.5m from $17.4m, while the loss attributable to owners improved to $9.4m from $18.6m.

• Gross loss of $1.9m replaced a $0.3m gross profit in 1H2025, reflecting vessel off-hire, lower fleet utilisation and weaker spare sales.

Financial highlights

• Revenue was $19.278m versus $22.995m YoY; loss before tax narrowed to $10.235m from $16.640m.

• Net loss was $10.536m versus $17.363m; loss attributable to owners was $9.380m versus $18.568m.

• Foreign exchange gain was $0.7m in 1H2026 versus an $8.0m loss in 1H2025, contributing to the narrower net loss.

• Operating cash outflow was $8.309m versus $6.023m; cash and short-term deposits were $82.639m at 30 June 2026 versus $95.228m at 31 December 2025.

Outlook and guidance

• 1H2026 results were broadly in line with profit guidance announced on 15 July 2026.

• Focus remains on securing business, improving operational efficiency and optimising asset utilisation, with prudent operations and investment decisions.