Tasmea (TEA) H2 2025 earnings summary

Executive summary

• Record order book of $600 million, up 29–30% year-over-year, supporting strong FY 2026 outlook.

• FY 2026 net profit after tax forecasted at $70 million, a 32% increase from FY 2025's $53 million.

• Achieved record statutory revenue of $547.9 million, up 37% year-over-year, and pro-forma revenue of $620.8 million, up 52%.

• Strong structural tailwinds from electrification, remote work, and aged fixed plant maintenance.

• High recurring revenue base and industry-leading margins from self-performance and cross-selling.

Financial highlights

• FY 2025 statutory revenue reached $547.9 million, up 37% year-over-year; pro-forma revenue $620.8 million, up 52%.

• Statutory EBIT for FY 2025 was $74.4 million, up 60%, with a margin of 13.6%; pro-forma EBIT $93.2 million, up 70%.

• Statutory net profit after tax was $53.1 million, up 74% year-over-year; pro-forma NPAT $62.5 million, up 69%.

• Earnings per share grew 47% over four years; statutory EPS up 53% to 23.2cps; pro-forma EPS up 48% to 27.3cps.

• Free cash flow for FY 2025 was $25 million; operating cash flow before interest and tax was $49.2 million.

Outlook and guidance

• FY 2026 guidance reconfirmed: $110 million EBIT and $70 million net profit after tax, representing 32% NPAT growth.

• Strong organic growth and acquisition pipeline, with significant cross-sell and electrification opportunities.

• Order book and MSA growth underpin optimistic revenue and earnings visibility.

• Targeting ASX 300 entry in March next year, with EBIT goal of $110 million achieved one year early.

• Aspirational EBIT targets of $135 million and $160 million for subsequent years.