Srg Global Limited · ASX:SRG
Srg Global — H1 FY2026 Earnings Presentation
40 slides from Srg Global's earnings presentation, Feb 17, 2026
Slide 1: 1H FY26 Results Presentation
1H FY26 RESULTS PRESENTATION
Slide 2: We are a diversified infrastructure services company
WHO WE ARE WHAT WE DO OUR VISION We are a diversified We bring an The most sought-after infrastructure engineering mindset diversified infrastructure services company to deliver critical services business services for major industry 2
Slide 3: Diversified Infrastructure Services
» LWERSIFIED ons INFRASTRUCTURE SERVICES
Slide 4: SRG Global at a glance
S&P/ASX North-West North Queensland 300 Cape Preston Broome Gladstone Brisbane People Diversified Onslow North Island Infrastructure 5,000 Services Business 80% Annuity / Recurring Port Hedland Earnings Profile Industries 20+ Perth Fremantle Geographic Newcastle split 45 Roxby Downs Sydney Revenue %
Slide 5: Executive Summary
1H FY26 RESULTS Executive Summary Record 1H Financial Result Returns to Shareholders Excellent Cash Generation 1H FY26 EBITDA1 of EPS(A)1 of EBITDA Cash Conversion of 1H FY26 Results $ 71.0m Up 20% on 1H FY25 5.5cps Up 20% on 1H FY25 97% Reduced Net Debt to $21.2m as at 1H FY26 EBIT(A)1 of $53.2m, u
Slide 6: 1H FY26 Results Overview
CANNING DAM, WESTERN AUSTRALIA ADD 1H YOUR FY26 Results PRESENTATION Overview TITLE HERE 1H FY26 RESULTS 6
Slide 7: 1H FY26 Financial Performance Key Highlights
1H FY26 RESULTS 1H FY26 Financial Performance Key Highlights 1H FY25 1H FY26 Change Revenue $619.7m $743.9m ▲ 20% EBITDA $59.0m $71.0m ▲ 20% EBIT(A) $42.1m $53.2m ▲ 26% NPAT(A) $26.6m $33.7m ▲ 27% Record EBITDA % margin 9.5% 9.5% - Financial EBIT(A) % margin 6.8% 7.2% ▲ 6% Result NPAT(A) % margin 4.
Slide 8: 1H FY26 Financial Performance Key Highlights
1H FY26 RESULTS 1H FY26 Financial Performance Key Highlights 5 00 EPS(A) REVENUE 6.5 5.5 5.5 4.6 EBITDA cents per share 20% 4.5 3.4 20% YOY 3.5 3.0 75 YoY 744m 2.3 2.5 $ 65 31% 1.5 YoY 0.5 55 -0.5 1H22 1H23 1H24 1H25 1H26 32% YoY 45 $ Millions 26% 35 YoY EBITDA Dividend 32% YoY Cash Conversion 3.5 3
Slide 9: Long Term Track Record of Delivery
1H FY26 RESULTS Long Term Track Record of Delivery 1H FY22 1H FY23 1H FY24 1H FY25 1H FY26 Revenue $297.0m $380.0m $510.7m $619.7m $743.9m EBITDA $27.0m $34.0m $45.1m $59.0m $71.0m EBIT(A) $15.9m $20.9m $28.4m $42.1m $53.2m NPAT(A) $10.1m $13.2m $17.7m $26.6m $33.7m Continuing to EBITDA % margin 9.1
Slide 10: Positive Cash Generation Funding Growth
1H FY26 RESULTS Positive Cash Generation Funding Growth Continued strong focus on working capital management delivering operating cashflow before interest and tax of $65.2m 67.0 1.8 (3.6) (16.7) 50.0 (4.7) 1.7 97% EBITDA to cash (6.7) (5.3) conversion of 126.2 (18.4) 111.9 (50.8) TAMS Acquisition in
Slide 11: Robust Financial Position
1H FY26 RESULTS Robust Financial Position Balance Sheet ($m) 1H FY26 $ 126.2m Cash on hand Available liquidity: $ 273.0m $ 146.8m Available undrawn working capital Cash and cash equivalents 126.2 and equipment finance facilities Trade, other receivables & contract assets 280.4 Inventories 29.6 Prope
Slide 12: Underpinned by a Strong Foundation
Underpinned by a Strong Foundation WEST WIND FARM, MERIDIAN ENERGY, WELLINGTON, NEW ZEALAND 12
Slide 13: Environmental, Social & Governance in Action
1H FY26 RESULTS Environmental, Social & Governance in Action Environmental Workiva carbon platform deployed, enabling consistent, auditable FY26 climate reporting. Engineered solar-integrated façade at Atlassian Central project to support 6-Star NABERS and Green Star rating. Implemented recycl
Slide 14: Operating Segment Update
AUCKLAND HARBOUR BRIDGE MAINTENANCE, NEW ZEALAND TRANSPORT AGENCY ADD YOUR Operating PRESENTATION Segment Update TITLE HERE 1H FY26 RESULTS 14
Slide 15: Strong Segment Financial Performance
1H FY26 RESULTS Strong Total Corporate Segment Financial Revenue Revenue Revenue Revenue Performance $743.9m $504.3m $239.6m (nil) EBITDA EBITDA EBITDA EBITDA Revenue 71.0m 70.8m 16.7m ($16.5m) 20 % $ $ $ EBITDA Margin of 9.5% EBITDA Margin of 14.0% EBITDA Margin of 7.0% EBITDA Margin of (2.2%) from
Slide 16: Maintenance & Industrial Services: integrated asset services
Integrated asset program management, • Asset Program Management asset monitoring, inspection & testing, • Asset Monitoring & Testing asset maintenance & remediation, • Asset Maintenance & Remediation specialist drill & blast and geotech, • Specialist Drill & Blast; and Geotech engineered products an
Slide 17: Maintenance & Industrial Services in Review
OPERATING SEGMENT UPDATE Maintenance & Industrial Services in Review Long-term contracts secured Secured a number of long-term contracts with key blue-chip, repeat clients across Australia including Wesfarmers, South32, VIDA Roads, Tianqi, Alcoa, Roy Hill and Rio Tinto. Geographic spread across dive
Slide 18: Engineering & Construction: specialist infrastructure services
KEEPIT DAM STRENGTHENING, WATER NSW Specialist engineering and • Advisory Services construction of critical infrastructure • Specialist Design Services across a diverse range of growth • Early Contractor Engagement sectors including water, transport, • Civil Infrastructure defence, resources, energy
Slide 19: Engineering & Construction in Review
OPERATING SEGMENT UPDATE Engineering & Construction in Review Delivery of Specialist Water Infrastructure Secured specialist dam anchoring and tank infrastructure projects with major water authorities across Australia including SEQWater, Hunter Water, SA Water and WaterCorp WA. Winning in Transport,
Slide 20: TAMS Acquisition
TAMS ACQUISITION csr
Slide 21: Update on TAMS
TAMS ACQUISITION Update on TAMS Transformational Successfully Fully Delivered to Strong cultural Robust acquisition of TAMS completed integrated business case and client pipeline of a market-leading effective from into SRG Global in first 2 months alignment opportunities specialist marine 1 November
Slide 22: Strategic Rationale
TAMS ACQUISITION Strategic Rationale Transformational Clear Market Acquisition Strategic Fit Leadership of market leading specialist with complementary in highly attractive growth marine infrastructure self-perform delivery segments for critical services provider capability infrastructure services C
Slide 23: TAMS Critical diversified marine infrastructure services
v TAMS ACQUISITION TAMS Critical diversified marine infrastructure services Service Offering Asset • Routine provision of inspection and monitoring services – includes specialist 1 Inspection divers, ropes and moorings, subsea technicians and general marine services Early • Identification of critica
Slide 24: Highly Complementary Core Capabilities
v TAMS ACQUISITION Highly Complementary Core Capabilities TAMS’ core capabilities are highly complementary with SRG Global’s service offering in delivering critical infrastructure services to the marine industry and its associated users (government, resources, energy, defence and water). Maintenance
Slide 25: Strengthens marine infrastructure offering with combined market-leading experience
TAMS ACQUISITION v Strengthens marine infrastructure offering with combined market-leading experience Broome Port Hedland Gladstone Fremantle Port Wharf construction Infrastructure Maintenance Wharf Maintenance Infrastructure Maintenance Green Island Swanston Dock South Trees Fremantle Port Jetty Re
Slide 26: Case Study – TAMS Experience Port Hedland Shore-Base
TAMS ACQUISITION v Case Study – TAMS Experience Port Hedland Shore-Base Client Core Service Asset Maintenance Description • Long-term relationship with key blue-chip clients, under term contracts • Demonstrates the range and breadth of services o Subsea Services o Asset Maintenance o Asset Remediati
Slide 27: Case Study – TAMS Experience Broome Floating Wharf
TAMS ACQUISITION v Case Study – TAMS Experience Broome Floating Wharf Client Core Service Engineering Construction Description • Innovative, state of the art floating wharf infrastructure project to provide 24/7, 365-day access to Broome Port • Full end-to-end self perform engineering construction i
Slide 28: Critical sovereign infrastructure
v TAMS ACQUISITION Critical sovereign infrastructure Marine infrastructure is vital to Australia’s trade, economy and sovereignty and is treated as critical infrastructure EXPORTS Capital-intensive, ageing infrastructure Bulk ports dominate Australian exports Australian volume of goods exported by p
Slide 29: Increased demand on port infrastructure
v TAMS ACQUISITION Increased demand on port infrastructure TAMS core clients are exposed to key Australian export industries including energy and resources, which have sustainably grown output for decades, ensuring continued demand for port infrastructure to facilitate upgrade / expansion works and
Slide 30: Significant project pipeline
TAMS ACQUISITION Significant project pipeline Australian private and public infrastructure projects in marine and coastal areas will continue to underpin strong earnings growth for TAMS Growth from corporate and private investment in key sectors Committed pipeline of new marine construction Logistic
Slide 31: Long-Term Investment in Defence
v TAMS ACQUISITION Long-Term Investment in Defence The Australian Government is investing heavily in Defence capability; TAMS provides significant exposure to naval and marine expenditure • Australian Government Defence budget of A$765 billion over Integrated Investment Program the next ten years to
Slide 32: Way Forward
MORGAN TO WHYALLA PIPELINE RENEWAL, SA WATER, SOUTH AUSTRALIA ADD Way YOUR PRESENTATION Forward TITLE HERE 1H FY26 RESULTS 32
Slide 33: Building the Most Sought-after Diversified Infrastructure Services Business
1H FY26 RESULTS Building the Most Sought-after Diversified Infrastructure Services Business Zero Harm / ESG industry leader and recognised employer / partner of choice Continuing to enhance our Innovation and Technology to drive sustainable growth and competitive advantage Selective strategic ac
Slide 34: Strategic Transformation Delivering Sustainable Growth
1H FY26 RESULTS Strategic Transformation Delivering Sustainable Growth Upgraded FY26 EBITDA Strong Platform Exposure to 180 guidance to $164m to $168m for Sustainable Diverse Sectors 170 160 Earnings Growth and Geographies 150 140 Work in Hand: Opportunity Pipeline: 127 4.2b 11.5b 130 120 $ $ 110 98
Slide 35: Positive Outlook
1H FY26 RESULTS Positive Outlook Operating segment performance… …driving positive momentum FY26 guidance upgraded to $164m to $168m EBITDA and $126m to $130m EBIT(A) $4.2b Work in Hand and $11.5b Opportunity Pipeline provides platform for long-term sustainable growth Positive exposure to growth
Slide 36: Investment Proposition
1H FY26 RESULTS Investment Proposition End-to-end Diverse Highly asset lifecycle market sectors scalable capability / geographies business model $ Annuity Capital High growth earnings light dividend profile investment profile stock 36
Slide 37: Appendix 1: Reconciliation of Financial Information
CANNING DAM, WATERCORP, WESTERN AUSTRALIA Appendix 1: Reconciliation of Financial Information 1H FY26 RESULTS 37
Slide 38: Appendix 1: Reconciliation of Financial Information
1H FY26 RESULTS Appendix 1: Reconciliation 1HFY22 1HFY23 1HFY24 1HFY25 1HFY26 of Financial Profit before Tax 12.9 18.0 21.0 27.1 38.4 Information Finance costs Amortisation of Acquired Intangibles / Customer Contracts 1.2 1.8 1.8 1.1 4.0 3.4 4.0 6.0 4.7 6.1 Acquisition and integration costs 0.0 0.0
Slide 39: Disclaimer
Disclaimer Summary information Future performance and forward-looking statements This Presentation is for information purposes only and is a summary only. It should be read in conjunction with SRG This Presentation contains certain forward-looking statements. The words “expect”, “anticipate”, “estim
Slide 40: srgglobal.com.au
srgglobal.com.au