Symal Group (SYL) H1 2026 earnings summary

Executive summary

• Normalised revenue for 1H FY26 was $504.2 million, up 21% year-over-year, with normalised EBITDA of $51.4 million, up 6% year-over-year.

• Normalised NPAT A reached $20.9 million, a 4% increase year-over-year; statutory NPAT was $19.3 million, up 176%.

• Declared interim dividend of 3.3 cents per share, representing 40% of NPAT.

• Five strategic acquisitions completed or announced, expanding scale and capabilities nationally, including Locale Civil, McFadyen Pipeline Construction, Timms Group, L&D Contracting, and Davison Earthmovers.

• Work in hand at $1.64 billion and ECIs at approximately $1.4 billion, providing strong forward visibility.

Financial highlights

• Statutory revenue grew 24.6% to $504.2 million; normalised revenue increased 20.7%.

• Normalised EBITDA grew 5.5% to $51.4 million; EBITDA margin at 10.2%, within 10–12% target.

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

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

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

Outlook and guidance

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

• Strong visibility for H2 revenue and EBITDA, supported by high work in hand and robust ECI pipeline.

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

• Further guidance update to be provided upon completion of announced acquisitions.

• Anticipates continued margin stability in the 10–12% range across geographies.