Tasmea (TEA) H2 2026 earnings summary

Executive summary

• Achieved record FY26 results with revenue up 136% year-over-year to $1,293.3m and underlying EBITA/EBIT of $118.1m, up 54%, both exceeding guidance.

• Underlying NPAT reached $73.7m, up 42% year-over-year, surpassing guidance.

• Earnings per share rose 27% to 28.8cps; total dividends (excluding special) up 32% to 14.5cps.

• Operating cash flow rose 126% to $147.1m, with 125% EBIT conversion.

• Total shareholder return since IPO in April 2024 reached 523%.

Financial highlights

• Organic revenue growth of 18% year-over-year; underlying EBITA at $118.1m, up 54%.

• Underlying NPATA reached $73.7m, up 42%; EPS at 28.8cps, up 27%.

• Gross margin on net revenue was 16.2%; return on capital employed increased to 37.8%.

• Second half EBIT was $73.8m, up from $44.3m in the first half; margin improved from 13.4% to 18.5%.

• Net debt reduced to $59.6m from $110.9m; net leverage down to 0.4x from 1.0x year-over-year.

Outlook and guidance

• Upgraded FY27 guidance: underlying EBITA of $205–210m and NPATA of $130–133m, minimum growth of 74% and 76% over FY26.

• Guidance assumes full-year contributions from Maxim and JPS acquisitions and 10–15% organic growth.

• Record order book provides over 90% revenue pipeline visibility; strong early FY27 trading performance.

• Five-year incentive plan proposed, targeting EBIT growth from $200m in FY27 to $600m in FY31.