Mayfield Group Holdings (MYG) AGM 2026 presentation summary

FY26 financial performance

• Revenue rose 43.0% YoY to $169.0m; underlying EBITDA increased 54.0% to $18.5m, with margin up 80 bps to 10.9%.

• Underlying NPAT grew 50.1% to $10.9m; underlying basic EPS increased 28.8% to 10.05c, while statutory basic EPS rose 2.1% to 7.38c.

• Organic underlying NPAT growth was 23% excluding acquisition contributions; manufacturing drove revenue growth, with improved performance in critical communications.

• Cash at 30 June was $21.8m, up 29.0%, with no drawn borrowings; operating cash flow was $5.0m versus $9.5m in FY25.

• FY26 fully franked dividends totalled 4.4c per share: 2.0c interim and 2.4c final.

Acquisitions and integration

• BE Switchcraft contributed $18.6m revenue over 10 months and $1.4m FY26 profit after tax; completed 29 August 2025 and performed above expectations.

• SMEC Power & Technology contributed $11.9m revenue from 1 April to 30 June and $0.6m FY26 profit after tax; completed 31 March 2026 and performed in line with expectations.

• Nilsen Switchboards division acquisition completed 31 July 2026; expected FY27 revenue contribution of $10m-$15m, with staged transfer underway and N-Series production being established in South Australia.

• BE Switchcraft, SMEC and Nilsen integration adds manufacturing capability, customer relationships and product platforms; N-Series final handover to Old Port Road is scheduled by 30 November 2026.

Trading update and outlook

• FY27 revenue guidance increased to $226m-$232m, representing 34%-37% growth on FY26; EBITDA margin guidance is 10%-11%.

• Q1 FY27 revenue and earnings were ahead of expectations, led by project delivery and stronger SMEC demand; gross margins were ahead of plan and working capital improved.

• Work in hand was $114.7m at 30 September 2026, with a $1.4bn pipeline and $244m of projects awarded to clients; pipeline values are unweighted and not a revenue forecast.

• Data centres accounted for 14 live tenders worth $239m; $189m was on projects past the design stage. When client projects proceed, around two in three decided bids are won.

• FY27 guidance reflects full-year contributions from SMEC and BE Switchcraft and around eight months from N-Series, supported by demand across data centres, mining electrification and grid investment.