GR Engineering Services (GNG) H2 2026 earnings summary

Executive summary

• Achieved FY26 revenue of $493.2 million, up from $479.0 million in FY25, and record EBITDA of $63.1 million (FY25: $57.2 million), with strong project execution across all business units.

• Over $1.0 billion in new contract wins since April 2026, expanding the pipeline for FY27 and FY28.

• Final FY26 dividend increased to 13.0 cents per share, totaling 25.0 cents per share fully franked for the year.

• Announced $100 million institutional placement and $10 million SPP to fund working capital, acquisitions, and IT infrastructure.

Financial highlights

• FY26 revenue: $493.2 million (FY25: $479.0 million); EBITDA: $63.1 million (FY25: $57.2 million); EBITDA margin ~12.8%.

• NPAT: $39.0 million (FY25: $34.2 million); Basic EPS: 23.1 cps (FY25: 20.5 cps).

• Cash balance at 30 June 2026: $87.9 million; nil debt.

• Pro forma cash position post-raising: ~$198 million; pro forma market cap: $1,160.8 million.

• Total FY26 dividends: 25.0 cents per share, fully franked (FY25: 22.0 cents).

Outlook and guidance

• FY27 revenue forecast: $825–$850 million, a 67–72% increase over FY26.

• Over 90% of high-end FY27 revenue guidance secured by contracted projects.

• More than 60% of FY27 revenue expected from commodities other than gold.

• Strong pipeline and order book for FY27 and FY28, with ongoing studies and early works across multiple commodities.