Symal Group Ltd reported record annual revenue of AUD 1.14 billion for the fiscal year ended June 30, 2026, marking the first time the company surpassed the AUD 1 billion threshold. Normalized earnings before interest, tax, depreciation and amortization rose 17% year-over-year to AUD 124.3 million, with organic growth contributing nearly 10% and acquisitions adding just under 7%, placing results at the upper end of guidance.
The company recorded a normalized net profit after tax of AUD 49 million and earnings per share of AUD 0.206. Symal declared a final dividend of AUD 0.049 per share and introduced a dividend reinvestment plan. Cash conversion stood at 95%, within the target range of 90% to 110%, while capital expenditure totaled AUD 75 million gross, or AUD 64 million net after asset sale proceeds. Return on invested capital reached 23% and return on equity stood at 29% over the last twelve months.
Liquidity remained robust at AUD 260 million, comprising AUD 82 million in cash and AUD 177 million in undrawn credit facilities. Net leverage increased to 0.4 times as the company moved from a net cash position to net debt, with a debt-to-equity ratio of 0.92. Bank guarantees and bonding commitments totaled AUD 107 million as of June 30.
Work in hand hit a record AUD 1.9 billion, while the total tendered pipeline and early contractor involvement agreements reached approximately AUD 9.1 billion. Energy and resources, utilities, defense, digital infrastructure and other sectors accounted for 54% of total work in hand. The company operates 12 businesses, employs more than 1,800 staff and maintains 22 offices and yards across Australia.
Safety performance improved, with a rolling total recordable injury frequency rate of 1.4, 76% below the industry average, and zero lost time injuries. Work cover premiums were 30% below industry benchmarks. Project execution milestones included the Eastern Freeway job, approximately 70% complete and ahead of schedule, and the completion of 18 data centers since 2020. Energy projects secured in the past year exceeded AUD 200 million, with an active pipeline of over AUD 6 billion.
Symal completed four strategic acquisitions during FY26, spending just over AUD 81 million. The company also reached an agreement for a fifth acquisition, Shamrock Civil, with an upfront payment of AUD 51 million expected in early FY27, including about AUD 10 million in scrip.
Management guided FY27 normalized EBITDA to AUD 153-163 million, down from AUD 124.3 million in FY26, while capital expenditure is expected to decline sharply to AUD 25-30 million. Depreciation and amortization for FY27 is forecast at AUD 55-60 million. The company’s long-term target of AUD 200 million in EBITDA by 2030 was described by management as now more of an expectation than an aspiration, with the company aiming to reach the target sooner.
Symal’s shares were last unchanged at AUD 2.76, having traded in a 52-week range of AUD 1.63 to AUD 3.56.
