Duratec Limited reported a 10.5% year-over-year increase in normalized EBITDA to AUD 58.5 million for the fiscal year ended 2026, driven by a record AUD 650.8 million order backlog. Revenue remained broadly flat at AUD 570.3 million, while net profit after tax rose 4.1% to AUD 23.8 million.
The company’s normalized EBITDA margin expanded to 10.3%, up from 9.3% in the prior year, supported by a 190-basis-point improvement in gross margin to 20.5%. Gross profit reached AUD 116.9 million, while operating cash flow before interest and tax totaled AUD 37.3 million, reflecting a 74% cash conversion rate. The cash balance at year-end stood at AUD 78.8 million, with net assets increasing 26% to AUD 93.8 million.
Duratec declared a final dividend of AUD 0.025 per share, fully franked, bringing the full-year payout to AUD 0.0425 per share. Total dividends paid during the year amounted to AUD 9.4 million. Capital expenditure totaled AUD 12.1 million in plant and equipment, with an additional AUD 14.4 million invested in business acquisitions. The company’s current ratio was 1.26, and its Altman Z-Score improved to 6.17.
The order backlog of AUD 650.8 million represents a 66.9% increase from FY2025, with 70% to 80% expected to be delivered in FY2027. The tender pipeline reached an all-time high of AUD 1.3 billion, while the broader project pipeline expanded to AUD 4.8 billion. Early Contractor Involvement opportunities worth AUD 280 million remain outside the order book.
Revenue growth was led by the Building & Facade segment, which reported a 24.1% increase to AUD 138.8 million, while the Defense segment contributed AUD 158 million, supported by the AUD 300 million HMAS Stirling Diamantina Wharf upgrade. The Mining & Industrial segment saw gross margins rise to 23%, and the Energy segment grew 11% to AOD 91.6 million.
Duratec’s share price last traded at AUD 2.12, down 0.93% from the previous close, with a 52-week range of AUD 1.50 to AUD 2.96. The company’s P/E ratio stood at 24.79, and its Price/Book multiple was 6.73, according to InvestingPro.
