GenusPlus Group (GNP) Investor presentation summary

Transaction overview

• Acquisition of 100% of MPC Kinetic Holdings Pty Ltd (MPK) for up to A$400m, including A$325m upfront, A$25m deferred, and up to A$50m earn-out based on FY27 EBIT targets.

• Funding includes up to A$200m institutional placement, upsized debt facility, and existing cash reserves, maintaining a conservative pro forma Net Debt/EBITDA ratio of 0.01x to 0.39x.

• Completion is subject to equity raising, material contract consents, and ACCC approval, with expected completion by 1 July 2026.

• MPK is a leading provider in gas gathering, well services, and renewable energy construction, with a strong Tier 1 client base and recurring revenue streams.

• Acquisition is expected to be highly EPS accretive (~59% on FY26F basis) and nearly double pro forma EBITDA and EBIT.

Strategic rationale and benefits

• Diversifies into the gas and water sectors, critical for Australia's energy transition and security.

• MPK’s pipeline and civil capabilities complement Genus’ electrical expertise, enhancing self-perform capacity for renewable projects.

• Long-term, multi-year contracts with Tier 1 clients provide revenue stability and cross-selling opportunities.

• Attractive acquisition multiples: 4.3x FY27 EBITDA and 5.7x FY27 EBIT at maximum consideration.

• Strong operating cash flow expected to support earn-out payments and future growth.

MPK financial performance

• FY25 EBITDA of A$104m and EBIT of A$83m; FY26F EBITDA of A$116m and EBIT of A$95m.

• FY27 performance expected to be lower as major renewable projects reach completion; earn-out structured to mitigate downside risk.

• Majority of revenue from schedule of rates, cost reimbursable, or target cost contracts.

• Key clients include Santos, Origin, Arrow, QGC, and Vestas.