Symal Group, the Australian infrastructure services provider, reported first-time revenue above $1 billion for the year ended June 30, 2026, as diversification across energy, defense and digital infrastructure offset regional cyclicality.
The company posted total revenue of $1.14 billion, up 25.9% from the prior year’s normalized $901.7 million, according to presentation materials released on August 24, 2026. Normalized EBITDA increased 17.2% to $124.3 million, driven by 10.4% organic growth and 6.8% contributions from acquisitions completed during the year. The group’s five-year EBITDA compound annual growth rate stands at 27%, while normalized net profit after tax rose 7.4% to $49.0 million.
Work-in-hand expanded to $1.9 billion, an 8% increase from the prior year, while the total tendered pipeline reached $9.1 billion. Combined, the company’s contracted and prospective work totals $11.0 billion, up from $3.8 billion at listing. Operating cash flow conversion remained within target at 95%, and net leverage stood at 0.4x, supported by $259 million in total liquidity.
Symal completed four acquisitions in FY 2026, including Locale, McFadyen and Timms Group, with total consideration of $81.5 million. A fifth acquisition, Shamrock Civil, is pending at $51 million and expected to add approximately $100 million in annual defense revenue. Management also highlighted a $300 million debt facility established with trusted lenders to support further expansion.
The company’s contracting services segment generated $936 million in revenue with a 7.9% EBITDA margin, while its plant and equipment division reported $207 million in revenue and a 22.0% margin. Geographic diversification improved, with 35% of work-in-hand now outside Victoria, compared to 5% at listing. Sector diversification also increased, with 54% of work now outside traditional infrastructure, up from 21%.
Digital infrastructure contributed $820 million in work-in-hand and pipeline, including 18 completed data centers with combined contract values exceeding $380 million. The company estimates its addressable market in energy and utilities at $500 billion, with $6.6 billion in work-in-hand and pipeline. In defense, work-in-hand doubled to $100 million, with Shamrock Civil expected to add another $100 million annually.
For FY 2027, management guided to normalized EBITDA of $153–163 million, representing 23–31% growth over FY 2026. EBITDA margins are projected at 10–12%, with capital expenditure expected to normalize at $25–30 million. The company’s long-term target of $200 million in EBITDA by 2030 has been upgraded from an aspiration to an expectation.
Shares of Symal rose 4.35% to $2.88 following the presentation, trading 70% above the 52-week low of $1.63 and 22.5% below the annual high of $3.56.
