SHAPE Australia (SHA) H2 2026 earnings summary

Executive summary

• Achieved record revenue of AUD 1.24 billion, up 30% year-over-year, surpassing the billion-dollar mark for the first time, with NPAT up 50% to AUD 31.7 million and EBITDA up 53% to AUD 50.1 million, reflecting improved margins and disciplined cost management.

• Diversified revenue streams, with 57% of revenue from non-office sectors and significant growth in education, data centres, hotels, retail, aged care, and industrial segments.

• Project wins reached AUD 1.3 billion, up 37%, with a backlog of AUD 628 million and a pipeline of AUD 4.8 billion, reflecting strong future growth.

• Completed strategic acquisitions (Arden and Australian Professional Shopfitters), expanding recurring revenue, capabilities, and market reach, with high customer and key employee retention.

• Maintained a strong liquidity position with AUD 136 million in cash and marketable securities.

Financial highlights

• Revenue increased 30% year-over-year to AUD 1.24 billion; EBITDA up 53% to AUD 50.1 million; project wins rose 37% to AUD 1.3 billion.

• Net profit after tax increased 50% to AUD 31.7 million; EPS up 49% to 38.1 cents; declared dividends per share up 42% to 32.0 cents.

• Gross margin improved from 9.2% to 9.8%, supported by higher-margin modular and acquisition contributions; EBITDA margin rose to 4.0% (from 3.4%).

• Operating expenses as a percentage of revenue decreased from 6.7% to 6.5%, highlighting operating leverage.

• Cash and marketable securities totaled AUD 136 million, including AUD 32 million in liquid investment-grade bonds.

Outlook and guidance

• Entering FY27 with a strong backlog (AUD 628 million) and pipeline (AUD 4.8 billion), positioning for continued growth.

• Margin expansion expected as acquisitions (Arden, APS) contribute for a full year and modular business grows.

• Focus on organic growth, sector diversification, regional expansion, and capability enhancement, including modular construction.

• Well capitalised to pursue further strategic acquisitions.

• Data centres, defense, modular construction, and regional markets identified as key growth areas.