Monadelphous Group (MND) H1 2026 earnings summary

Executive summary

• Achieved record half-year revenue of $1.53 billion, up 46% year-over-year, driven by strong demand and activity across resources, energy, and infrastructure sectors, with expanded service capabilities.

• Net profit after tax rose 53% to $64.9 million, with earnings per share of 65.2 cents, and EBITDA up 45.6% to $116.2 million at a 7.59% margin.

• Significant contract wins and extensions totaling over $1.4 billion since the start of FY26, especially in iron ore, energy, and renewables.

• Workforce at approximately 8,400, with ongoing investment in leadership, training, diversity, and expanded Indigenous participation.

• Strategic acquisitions of Kerman Contracting, Australian Power Industry Partners, and High Energy Service broadened delivery capability and market reach.

Financial highlights

• Revenue from contracts with customers reached $1.53 billion, up 46% year-over-year; statutory revenue was $1.436 billion after excluding joint ventures.

• EBITDA was $116.2 million, up 45.6%, with an EBITDA margin of 7.59%.

• Net profit after tax was $64.9 million, up 53% year-over-year; EPS increased to 65.2 cents.

• Cash balance at period end was $322 million, with cash flow from operations of $171.1 million and a cash flow conversion rate of 186%.

• Interim dividend declared at 49 cents per share, fully franked, up from 33 cents last year.

Outlook and guidance

• Full-year FY26 revenue forecast to be approximately 30% higher than the prior year, with operating margins maintained.

• Long-term demand in resources and energy sectors expected to remain strong, supported by commodity prices, global economic growth, and energy transition investments.

• Continued focus on selective new work, disciplined risk allocation, and leveraging enhanced delivery capability.

• Energy transition and decarbonization projects present significant long-term opportunities.

• Over $1.4 billion in new contracts secured since the start of FY26.