Trajan Group Holdings Ltd reported a normalized EBITDA of AUD 10.5 million for the fiscal year ended June 30, 2026, as H2 EBITDA surged 61% to AUD 5.5 million from AUD 5 million in H1. The group’s gross margin expanded by 3.2 percentage points to 41% in H2, up from 37.5% in the first half.
Revenue from components and consumables, which account for roughly two-thirds of total sales, held steady at AUD 102.6 million year-on-year. Capital equipment revenue declined 9.7% to AUD 52.9 million, while disruptive technologies revenue rose 14.2% to AUD 5.9 million, with the segment’s EBITDA loss narrowing to AUD 0.6 million from AUD 1.5 million.
Operating cash flow fell to AUD 1.5 million from AUD 13.4 million in the prior year, with a cash conversion ratio of 0.11 times. Net debt increased to AUD 34.6 million, and the year-end cash balance stood at AUD 12.6 million. Working capital outflows totaled AUD 5.2 million, compared with an inflow of AUD 2.2 million in FY 2025.
Trajan’s stock fell 2.78% to $0.18, bringing its 52-week range to $0.17–$0.94. The company’s market capitalization remains near AUD 20 million. Analyst price targets range from $0.54 to $0.67. The CEO noted the group’s global diversification and infrastructure as key strengths amid shifting market conditions.
Currency movements, particularly in the U.S. dollar and euro, impacted revenue by approximately AUD 5 million and EBITDA by about AUD 2.4 million in H2. The group expects mid-single-digit organic growth in FY 2027, with EBITDA growth outpacing revenue. Capital expenditure is forecast at AUD 4 million to AUD 5.5 million for the next fiscal year, while a AUD 2.5 million ERP implementation cost in Germany is expected to normalize by H1 FY 2027.
Softness in capital equipment was concentrated in food applications, driven by customer delays, geopolitical conflicts, tariffs, climate-related supply disruptions, and shifts in U.S. healthcare planning linked to GLP-1 drug adoption. Project Neptune cost savings contributed AUD 1.2 million in H2, following a shift in production to Penang, Malaysia, while corporate service adjustments added another AUD 1.2 million in savings.
