Symal Group (SYL) H1 2026 earnings summary

Executive summary

• Normalized revenue for H1 FY26 was AUD 504.2 million, up 21% year-over-year, with normalized EBITDA of AUD 51.4 million, up 6%, and normalized NPAT A of AUD 20.9 million, up 4%.

• Five strategic acquisitions completed or announced, expanding scale, capability, and national footprint, particularly in Queensland and South Australia.

• Interim dividend of 3.3 cents per share declared, representing 40% of normalized NPAT, fully franked and in line with dividend policy.

• Net cash position at AUD 6.1 million at period end, reflecting acquisition and dividend payments.

• Strong operational momentum supported by investment in AI-enabled productivity, safety, and workforce expansion to over 1,500 employees.

Financial highlights

• Statutory revenue grew 24.6% to AUD 504.2 million; normalized EBITDA up 5.5% to AUD 51.4 million; normalized NPAT A up 4% to AUD 20.9 million.

• EBITDA margin at 10.2%, within 10%-12% target range but down from prior period due to project mix and overhead investment.

• Net cash position of AUD 6.1 million at period end, with cash conversion at 108%.

• Operating cash flows of AUD 37.7 million; total investment cash outflow of AUD 76 million, mainly for acquisitions and plant/equipment.

• Net assets increased to AUD 179.3 million, with significant investments in plant, equipment, and intangibles.

Outlook and guidance

• FY26 normalized EBITDA guidance reaffirmed at AUD 117 million–127 million, excluding contributions from pending acquisitions.

• Significant pipeline in data centers, renewables, defense, and infrastructure, with AUD 1.64 billion work in hand and AUD 1.4 billion ECIs as of December 31.

• Targeting AUD 200 million EBITDA platform by 2030 through organic and inorganic growth.

• High visibility for H2 revenue and EBITDA, with continued focus on disciplined execution and margin protection.