GenusPlus Group (GNP) H1 2025 earnings summary

Executive summary

• Achieved record half-year revenue of AUD 333 million (or $332.9 million), up 33% year-over-year, with strong growth across all business segments.

• Normalised EBITDA reached AUD 27.4 million, up 25%, and statutory NPAT was AUD 13.7 million, up 51% year-over-year.

• Major infrastructure and industrial services projects awarded, expanding the national footprint and order book to a record AUD 1.5 billion.

• Strategic acquisitions of Comtel/CommTel, Partum, and Geographe Trees diversified the business and enhanced capabilities.

• Workforce expanded to over 1,200 employees, with a focus on diversity, inclusion, and Indigenous engagement.

Financial highlights

• Revenue for the half was AUD 333 million; normalized EBITDA AUD 27.4 million; statutory NPAT AUD 13.7 million; basic EPS 7.69 cents, up 51% year-over-year.

• Free cash flow from operations was AUD 35.5 million, with a conversion rate of 136%.

• Cash balance remained strong at AUD 89.9 million after funding acquisitions and CapEx.

• CapEx for the half was AUD 16.7 million, with a full-year forecast of AUD 35 million.

• Bank guarantee and surety bond facility increased to AUD 230 million, with AUD 115.4 million available.

Outlook and guidance

• Reiterated guidance for at least 20% EBITDA growth in FY2025, with recurring revenue forecast at AUD 276 million.

• Robust tender pipeline at AUD 2.2 billion and order book near AUD 1.5 billion, up from AUD 519 million at FY24 end.

• Significant opportunities in infrastructure, especially with "Rewiring the Nation" and major transmission projects.

• Infrastructure margins expected to return to 10-11% as resourcing investments are absorbed and project volumes increase.

• No interim dividend declared for the half year ended 31 December 2024.