GenusPlus Group (GNP) H2 2025 earnings summary

Executive summary

• Achieved record FY2025 revenue of $751.3 million, up 36% year-over-year, and record normalised EBITDA of $67.4 million, up 49% year-over-year, reflecting strong operational execution and successful conversion of the order book.

• Statutory NPAT reached $35.4 million, up 84% year-over-year, with basic EPS of 19.7 cps, up 82%.

• All business segments—Infrastructure, Energy & Engineering, and Services—delivered strong results, with major contract wins, successful integration of acquisitions, and expansion in east coast operations.

• Orderbook surged to $2 billion, up from $0.5 billion, with a strong tendered pipeline of $2.4 billion and recurring revenue forecasted to grow 20% in FY2026.

• Significant progress made on multi-year strategies, with organic growth, strategic M&A, and expansion of national footprint.

Financial highlights

• Revenue: $751.3 million (+36.3%), normalised EBITDA: $67.4 million (+48.6%), statutory NPAT: $35.4 million (+83.6%).

• Cash balance: $160.8 million, net cash: $113.5 million, with strong cash conversion and free cash flow before tax of $138.1 million.

• Fully franked final dividend of 3.6 cps ($6.5 million) to be paid 31 October 2025, up 44% from FY2024.

• Acquisitions contributed $90 million in revenue and $7.9 million in EBITDA; $27.7 million in cash-funded acquisitions, net of $6.5 million debt.

• CapEx for FY2025 was $29.9 million, with FY2026 forecast at ~$30 million, driven by growth in major projects.

Outlook and guidance

• FY2026 normalised EBITDA expected to grow 20–25%, supported by a record orderbook and industry tailwinds.

• Recurring revenue in FY2025 was $311 million (+39%), forecast to grow ~20% in FY2026.

• Tendered pipeline remains strong at $2.4 billion, with continued focus on M&A and expansion into new geographies and services.

• Opportunities in wind energy and renewables are being actively pursued, with a strategy in place to secure projects.

• Continued growth anticipated from east coast operations and services revenue.