Vysarn (VYS) Investor presentation summary

Financial performance and growth

• 1HFY26 delivered record half-year earnings with EBITDA of $13.9m (up 71% YoY) and NPBT of $10.0m (up 92% YoY), with operational revenue at $66.8m (up 63% YoY).

• FY26 NPBT target reaffirmed at $20.0m, representing 33% growth over FY25 and 81% over FY24.

• Strong balance sheet with $59.1m in net tangible assets and $13.8m in cash, supporting acquisition and organic growth.

• Operating cash flow timing impacted by late delivery of work, with expectations for improved collection in 2H.

• Work on hand and anticipated project awards position the group to replicate 1H earnings in 2H.

Segment performance and outlook

• Industrial segment achieved record earnings, driven by strong iron ore demand and fleet expansion, with NPBT up 147% YoY.

• Advisory segment expanded nationally and into New Zealand, with NPBT up 189% YoY and a strong tender pipeline.

• Technology segment saw earnings skewed to 2H due to project timing, but maintains a robust pipeline and market leadership in WA.

• Asset management advanced the Kariyarra Water Scheme, lodging key regulatory reports and progressing offtake and funding discussions.

Strategic initiatives and market positioning

• National platform established with over 360 professionals and operations across Australia and New Zealand.

• Focus on sustainable, integrated water services across the full project lifecycle, targeting both resource and infrastructure markets.

• Expansion into Pilbara and Eastern Seaboard markets, leveraging strong client relationships with tier-1 miners and water authorities.

• Ongoing investment in technology, fleet, and advisory capabilities to support long-term growth and recurring revenue streams.

• Strategic partnerships, including a 50/50 JV with KAC RNTBC, embed social and governance outcomes in key projects.