Mastermyne Group Ltd (ASX: MYE) posted a 47.1% year-over-year increase in underlying EBITDA to $20.3 million for the fiscal year ended June 30, 2026, as revenue rose 13.1% to $237.7 million.
Underlying net profit before tax climbed 148% to $15.7 million, while net profit after tax surged 186% to $11.0 million. Operating cash flow increased 20.1% to $20.3 million, and the ending cash balance grew by $16.8 million to $47.2 million. Net cash totaled $46.5 million as of June 30, up 60% from $29.1 million a year earlier.
The order book reached $432 million, a 37.6% increase from $314 million in the prior year, including $178 million in contract extension options. A post-year-end Dendrobium contract adds $85 million in gross revenues for the initial two-year term, with potential to reach $255 million over six years. Mastermyne has already secured approximately $200 million in revenue for FY27, including $40–$45 million from the Dendrobium contract.
The targeted project pipeline expanded to roughly $1.5 billion, with about $823 million in near-term opportunities expected to be awarded or converted in FY27, particularly in the first half. The company’s strata consolidation segment now accounts for 30% of group revenue, up from 26% in the prior year.
Chief Executive Geoff Whiteman noted that revenue and underlying EBITDA exceeded the upper end of guidance provided in February. Chief Financial Officer Matt Ruhl attributed the improvement to a favorable mix shift toward higher-margin activities and continued cost discipline.
Mastermyne’s workforce grew from 640 to 689 employees during FY26, with plans to approach 1,000 as it mobilizes for the Dendrobium contract. Total assets increased by $17.0 million to $124.5 million, while total liquidity stood at $76.5 million, including an undrawn $30 million working capital facility renewed in July.
Capital expenditure remained modest at approximately 2% of revenue. Non-underlying items reduced net profit after tax by $8.8 million, primarily due to a $7.6 million provision for legal penalties and associated costs, along with M&A-related expenses and asset impairments.
Mastermyne’s shares fell 6.67% to $0.56 following the presentation, after trading in a 52-week range of $0.12 to $0.625. No final dividend was declared for FY26.
