SHAPE Australia (SHA) H2 2025 earnings summary

Executive summary

• Achieved record revenue of $956.9 million, up 14% year-over-year, with EBITDA rising 26% to $32.7 million and net profit after tax up 32% to $21.1 million.

• Earnings per share rose 33% to 25.5c, and declared dividends per share increased 32% to 22.5c.

• Diversification strategy and geographic expansion drove significant gains, with non-office sector and new regional offices contributing to growth.

• Project wins totaled $981.6 million, backlog orders stood at $492.4 million, and identified pipeline reached $4.0 billion.

• Headcount grew 7% to 686, supporting business growth.

Financial highlights

• Revenue increased to $956.9 million from $838 million, a 14% rise year-over-year.

• EBITDA improved to $32.7 million, up 26%, and net profit after tax reached $21.1 million, up 32%.

• Earnings per share rose to 25.5c, and declared dividends per share increased 32% to 22.5c.

• Cash and marketable securities at $128.3 million, up 30% year-over-year.

• Operating cash flow was $53 million, up from $30 million last year.

Outlook and guidance

• Entering FY26 with a $492 million backlog and a $4.0 billion pipeline, both up year-over-year.

• Focus on sector diversification (education, health, defense, aged care), geographic expansion, and service diversification.

• Modular and design/build services expected to grow, with M&A actively evaluated for strategic expansion.

• Continued regional expansion in Gold Coast, Newcastle, Tasmania, Geelong, and Townsville.

• Targeting growth in education, hotels, defense, health, transport, aged care, and community sectors.