NRW Holdings Ltd (NWH) reported a 31.4% year-on-year increase in revenue to AUD 4.3 billion for the fiscal year ended June 30, 2026, alongside a 38.8% rise in underlying earnings before interest, tax, depreciation and amortisation (EBITA) to AUD 288.6 million. Underlying net profit after tax climbed 43.6% from the prior year, while cash holdings totalled AUD 319.7 million at year-end.
The company declared a final dividend of AUD 0.145 per share, a 53% increase from the prior year’s AUD 0.095, representing a 2.5% dividend yield. Operating cash flow before capital expenditure reached AUD 327 million, with capital expenditure broadly flat at AUD 146 million. Cash conversion improved to 94%, up from 83% in FY2025.
NRW’s order book stood at AUD 7.5 billion, with a near-term pipeline of AUD 29.8 billion in tenders and awards. The group’s four divisions reported varied performance: the Mining division delivered AUD 1.54 billion in revenue with earnings up 15.6% to AUD 139.9 million, while the MET division saw revenue rise 35.1% to AUD 1.26 billion and earnings increase 40.5% to AUD 96 million. Fredon, acquired in late FY2025, contributed AUD 684.2 million in revenue and AUD 38.1 million in earnings over the nine months post-completion.
Guidance for FY2027 anticipates revenue of AUD 4.6-4.8 billion, with underlying EBITA projected at AUD 320-330 million. Capital expenditure is expected to rise to AUD 165 million, while Fredon’s revenue is forecast to exceed AUD 1 billion, growing over 20% from a pro forma FY2026 base of AUD 840 million.
The company refinanced its banking facilities in June, expanding the limit by AUD 300 million to AUD 700 million and adding a AUD 100 million uncommitted accordion facility. Lenders include Commonwealth Bank of Australia, National Australia Bank, Westpac, Bank of China and HSBC. NRW’s shares rose 3.05% to AUD 7.43 in trading on Tuesday, near the top of its 52-week range of AUD 3.40 to AUD 7.84.
