PWR (PWH) H2 2026 earnings summary

Executive summary

• Achieved record revenue of AUD 171 million ($170.7m), up 31% year-over-year, with strong growth in Motorsports (+45%) and Aerospace & Defence (+31%).

• Statutory NPAT rose 83% to AUD 17.9 million ($17.9m), with NPAT margin improving to 10.5%.

• Completed major facility relocation to new Australian headquarters, enabling record domestic revenue and operational leverage.

• Entered FY 2027 with a record order book exceeding AUD 82 million ($82m), half from A&D, providing strong revenue visibility.

• Strategic investments in R&D, new materials, and global capacity underpin future growth, including new Poland facility for European A&D market.

Financial highlights

• EBITDA reached AUD 40.7 million ($40.7m), margin up 4.2 percentage points to 23.8%.

• Free cash flow turned positive at AUD 10.6 million ($10.6m), a AUD 25.6 million improvement from FY 2025.

• Final fully franked dividend of AUD 0.05 per share, full year dividend AUD 0.08 (8.00 cents), double prior year.

• Return on equity improved 7.1 percentage points to 16.8%.

• Net debt reduced to AUD 5.6 million ($5.6m), with gearing at 4.7%.

Outlook and guidance

• Motorsports expected to maintain higher revenue baseline in FY 2027.

• A&D revenue growth trajectory of ~30% anticipated to continue, supported by AUD 40 million ($40m) order book.

• OEM segment forecasted for ~20% revenue growth in FY 2027, with further momentum in FY 2028.

• Statutory NPAT margin expected to improve by ~2 percentage points in FY 2027, with further recovery toward 17.8% by FY 2028–2030.

• Poland facility start-up costs to reduce FY27 NPAT by less than $1m.