Duratec Limited · ASX:DUR
Duratec — Shareholder Meeting (November 2025)
52 slides from Duratec's shareholder meeting presentation, Nov 20, 2025
Slide 1: 2025 Annual General Meeting: Chair and Managing Director's Address
ASX ANNOUNCEMENT 20 November 2025 2025 ANNUAL GENERAL MEETING CHAIR AND MANAGING DIRECTOR’S ADDRESS TO SHAREHOLDERS & PRESENTATION For personal use only Australian engineering, construction, and remediation contractor Duratec Limited (Duratec or the Company) (ASX: DUR) is pleased to provide the Chai
Slide 2: Chair's address: FY25 resilience and progress
FY25 has been a year of resilience and progress. Despite geopolitical uncertainty and inflationary pressures, Duratec has again demonstrated the strength of its diversified business model and disciplined strategic execution, to deliver a milestone result. Our full year revenue reached $573.0m, a 3.1
Slide 3: Chair's address: sustainability, safety and outlook
Executive Director to further enhance our Board’s capability. During the year we completed Scope 1 and 2 emission baselines, adopted emissions intensity as our primary sustainability performance metric, and advanced Scope 3 materiality assessments. These steps position us to meet client expectations
Slide 4: Managing Director's address: FY25 financial results
Revenue delivered in FY25 was $573.0m, up 3.1% compared to FY24 and the highest revenue in the Company’s history – this was predominantly driven by an outstanding performance across our Energy and Emerging sectors. Normalised EBITDA was a record result at $53.0m, and importantly the overall EBITDA m
Slide 5: Defence and Mining & Industrial sector update
In the second quarter of FY26 we submitted our largest tender for Duratec in the Defence sector in the form of the Learmonth Fuel Upgrade submission which is a similar project to the one we recently completed at Tindal for Defence. Other long-term opportunities remain a key focus, particularly in fu
Slide 6: Energy and Emerging sectors update
secured its first direct contract with Woodside Energy – a $21.8m wharf refurbishment at King Bay Supply Base in Dampier, WA. Our inclusion in APA Group’s four-year national fabrication panel expanded our presence in Darwin and strengthened our fabrication capacity, with in-service welding works und
Slide 7: Subsidiary updates: EIG and MEnD
capabilities. It supports Duratec’s strategic growth by expanding our end-to-end self-perform capabilities in high barrier, high value sectors. We are really excited about the capability that EIG brings to Duratec and anticipate continued positive contributions through FY26 and well beyond. During t
Slide 8: Outlook and ECI contract conversion
and now a large façade refurbishment project in Brisbane continue. Subsidiary companies EIG, WPF and DDR all have good work on hand and multiple opportunities ahead. We anticipate converting several Defence and Building & Facade ECI contracts into delivery phase with immediate commencement upon awar
Slide 9: About Duratec Limited
About Duratec Limited Duratec Limited (ASX: DUR) is a leading Australian contractor providing assessment, protection, remediation, and refurbishment services to a broad range of assets and infrastructure. The Company’s multi-disciplined capabilities combine engineering experience with project delive
Slide 10: Duratec Limited FY25 Annual General Meeting
For personal use only Duratec Limited FY25 Annual General Meeting Thursday, 20 November 2025
Slide 11: Chair Address
For personal use only Chair Martin Brydon Address Non-Executive Chair Duratec Limited – FY25 Annual General Meeting – 20 November 2025
Slide 12: Proxy Summary
For personal use only Proxy Summary Duratec Limited – FY25 Annual General Meeting – 20 November 2025
Slide 13: Proxy Summary
Proxy Summary For personal use only RESOLUTIONS FOR AGAINST DISCRETIONARY ABSTAIN RESOLUTION 1: Adoption of Remuneration 91,659,835 957,998 94,761 27,816 Report 98.87% 1.03% 0.10% RESOLUTION 2: Re-election of Mr Martin 131,252,568 5,257,043 194,761 62,816 Brydon as a Director 96.01% 3.85% 0.14% RESO
Slide 14: Online Meeting Platform Information
For personal use only Online Meeting Platform Information Duratec Limited – FY25 Annual General Meeting – 20 November 2025
Slide 15: How to ask a question
How to ask a question For personal use only • To ask a written question select the Q&A icon • Select the topic your question relates to from the drop-down list • Type your question in the text box and press the send button • To ask a verbal question follow the instructions below the broadcast window
Slide 16: How to vote
How to vote For personal use only • When the poll is open, select the vote icon at the top of the screen • To vote, select either For, Against or Abstain • You will see a vote confirmation • To change or cancel your vote “click here to change your vote” at any time until the poll is closed Duratec L
Slide 17: Meeting Resolutions
For personal use only Meeting Resolutions Duratec Limited – FY25 Annual General Meeting – 20 November 2025
Slide 18: Receipt and Consideration of Financial Statements and Reports
Receipt and Consideration of Financial Statements and Reports To receive and consider the Financial Report of the Company, the Directors’ Report and the For personal use only Auditor’s Report for the year ended 30 June 2025. Further Information • Ashley Muirhead, Chief Financial Officer, and Tutu Ph
Slide 19: Resolution – Adoption of Remuneration Report
Resolution 1 – Adoption of Remuneration Report That, for the purpose of section 250R(2) of the Corporations Act, the Remuneration Report, which For personal use only forms part of the Directors’ Report for the financial year ended 30 June 2025, be adopted. This is an advisory only resolution. FOR AG
Slide 20: Resolution – Re-election of Mr Martin Brydon as a Director
Resolution 2 – Re-election of Mr Martin Brydon as a Director • Mr Martin Brydon was appointed as a Director on 1 September 2020. The Board considers For personal use only Mr Brydon to be an independent Director. • Mr Brydon has more than 30 years’ experience in the Australian construction materials
Slide 21: Resolution – Re-election of Mr Martin Brydon as a Director
Resolution 2 – Re-election of Mr Martin Brydon as a Director That, for the purposes of clause 14.4 of the Constitution, Listing Rule 14.4, and for all other For personal use only purposes, Mr Martin Brydon, who retires by rotation in accordance with the Constitution and the Listing Rules and, being
Slide 22: Resolution – Election of Ms Emma Scotney as a Director
Resolution 3 – Election of Ms Emma Scotney as a Director • For personal use only The Board appointed Ms Emma Scotney as a Director effective 1 September 2025 and consider Ms Scotney to be an independent Director. • Ms Scotney has a background in corporate law and is an experienced non-executive dire
Slide 23: Resolution – Election of Ms Emma Scotney as a Director
Resolution 3 – Election of Ms Emma Scotney as a Director That, for the purposes of clause 14.2 of the Constitution and for all other purposes, Ms Emma For personal use only Scotney, being a Director who was appointed by the Board since the last AGM, retires in accordance with the Constitution and, b
Slide 24: Resolution – Approval of Company's Employee Equity Plan
Resolution 4 – Approval of Company’s Employee Equity Plan • The Company established an Employee Equity Plan to allow the Board to issue Awards to eligible For personal use only participants to link the reward of participants to the performance of the Company and creation of Shareholder value. • The
Slide 25: Resolution – Approval of Company's Employee Equity Plan
Resolution 4 – Approval of Company’s Employee Equity Plan That, for the purposes of Listing Rule 7.2 exception 13(b) and for all other purposes, approval be For personal use only given to the Company’s Employee Equity Plan and for the issue of securities under the Company’s Employee Equity Plan on t
Slide 26: Resolution – Approval to grant Performance Rights to Executive Director Mr Oates
Resolution 5 – Approval to grant Performance Rights to Executive Director Mr Oates • The Company has agreed, subject to obtaining shareholder approval, to grant a total of 492,438 For personal use only Performance Rights to Mr Chris Oates (or his nominee(s)) under the Employee Equity Plan. • Subject
Slide 27: Resolution – Approval to grant Performance Rights to Executive Director Mr Oates
Resolution 5 – Approval to grant Performance Rights to Executive Director Mr Oates That, for the purposes of Listing Rule 10.14 and for all other purposes, approval is given for the grant For personal use only of up to 492,438 Performance Rights under the Company’s Employee Equity Plan to executive
Slide 28: Resolution – Reinstatement of Proportional Takeover Provisions
Resolution 6 – Reinstatement of Proportional Takeover Provisions • Section 648G of the Corporations Act permits a company to include, in its constitution, proportional For personal use only takeover provisions prohibiting the registration of a transfer of securities resulting from a proportional tak
Slide 29: Resolution – Reinstatement of Proportional Takeover Provisions
Resolution 6 – Reinstatement of Proportional Takeover Provisions That, for the purposes of section 648G of the Corporations Act and for all other purposes, approval For personal use only be given for the Company to amend the Constitution by reinserting the proportional takeover provisions set out in
Slide 30: Questions & Answers
For personal use only Questions & Answers Duratec Limited – FY25 Annual General Meeting – 20 November 2025
Slide 31: Conduct of Poll
For personal use only Conduct of Poll Duratec Limited – FY25 Annual General Meeting – 20 November 2025
Slide 32: Meeting Closed
For personal use only Meeting Closed Duratec Limited – FY25 Annual General Meeting – 20 November 2025
Slide 33: Operational Update
For personal use only Operational Chris Oates Update Managing Director Duratec Limited – FY25 Annual General Meeting – 20 November 2025
Slide 34: Important Notice & Disclaimer
Important Notice & Disclaimer For personal use only This presentation has been prepared by Duratec Limited (ACN 141 614 075) ("Duratec", "Duratec Group" and the "Company"). The information contained in this presentation is for information purposes only. The information contained in this presentation
Slide 35: Business History
Business History Growth over 15 years RC EIG For personal use only Construction (DDR) KEY BUSINESS DRIVERS AsClear • Aged infrastructure A&B CAGR1 Welding (WPF) GFE • Asset capacity expansion (WPF) • Growing asset markets 30.2% WPF Listed on ASX Spatial KEY MARKET SECTORS DDR Division • Defence Aust
Slide 36: Our Portfolio
Our Portfolio For personal use only Duratec Limited – FY25 Annual General Meeting – 20 November 2025 27
Slide 37: FY25 Financial Highlights
FY25 Financial Highlights For personal use only $573.0m $53.0m Revenue1 EBITDA2 ↑3.1% on FY24 $555.8m ↑11.3% on FY24 $47.6m FY25 Revenue by Operating Segment $22.8m 9.10c NPAT Earnings Per Share3 ↑6.5% on FY24 $21.4m ↑5.0% on FY24 8.66c 4.25c $84.0m Dividend4 Cash Per share, fully franked ↑28.8% on
Slide 38: Master Services Agreements
Master Services Agreements For personal use only • In FY25 MSA and annuity style projects represented approximately 31% of revenue compared to 26% in FY24 • Annuity style contracts and MSA works growing strongly • Continued focus on growing MSA work with new customers and through diversification of
Slide 39: Safety & Sustainability
Safety & Sustainability • Workforce grew to 1,265 For personal use only People & Culture • Expansion of People & Culture function to Eastern States Our People • Company-wide Employee Survey guiding FY26 initiatives • 83% increase in apprenticeships and traineeships completed • TRIFR increased to 5.8
Slide 40: Operational Update: Defence and Mining & Industrial
Operational Update Defence Mining & Industrial For personal use only $181.4m $23.6m 13% $136.6m $27.8m 20.3% Revenue Gross Profit Gross Margin Revenue Gross Profit Gross Margin ↓17.6% on FY24 $220.2m No change on FY24 Up from FY24 11% ↓12.2% on FY24 $155.6m ↓17.3% on FY24 $33.6m Down from FY24 22% •
Slide 41: Operational Update: Building & Facade and Energy
Operational Update Building & Facade Energy For personal use only $111.9m $20.6m 18.4% $82.5m $23.9m 28.9% Revenue Gross Profit Gross Margin Revenue Gross Profit Gross Margin ↑0.5% on FY24 $111.3m ↓1.4% on FY24 $20.9m Down from FY24 18.8% ↑77% on FY24 $46.6m ↑56.2% on FY24 $15.3m Down from FY24 32.9
Slide 42: Operational Update: Emerging Sectors
Operational Update Emerging Sectors For personal use only $111.9m $60.6m $20.6m $10.5m 18.4% 17.3% Revenue Gross Profit Gross Margin ↑0.5% onon ↑175.5% FY24 $111.3m FY24 $22.0m ↓1.4% onon ↑288.9% FY24 $20.9m FY24 $2.7m Down Up from from FY24 FY24 18.8% 12.4% • Upcoming marine works in Victoria, Quee
Slide 43: Subsidiary Update: DXP Energy Solutions
Subsidiary Update Highlights For personal use only • Formation of DXP Energy Solutions Pty Ltd, a strategic incorporated company • Integrating Duratec’s regional delivery with deep sector expertise and client network to deliver end-to-end lifecycle services across development, operations, and decomm
Slide 44: Subsidiary Update: WPF and EIG
Subsidiary Update • FY25 Revenue1 of $58.9m, gross profit of $17m For personal use only • Relocated to a 12,000m2 facility at Naval Base, WA, expansion of in-house service offerings • Continuing decommissioning project works with Santos – and recent award of B Tank Refurbishment at Varanus Island in
Slide 45: Subsidiary Update: MEnD and DDR
Subsidiary Update • Relocated to a new office and custom laboratory in East Perth, enhancing service capacity For personal use only • Launched 3D reality modelling project for Flinders Ports and secured first Bass Strait project to conduct testing offshore oil and gas platform • New projects include
Slide 46: Pipeline & Outlook
For personal use only Pipeline & Outlook Duratec Limited – FY25 Annual General Meeting – 20 November 2025
Slide 47: Order Book, Tenders and Pipeline
Order Book, Tenders and Pipeline For personal use only 1, 2 1, 2, 3 1, 2, 4 5 Note 1: As of 18 November 2025 Note 2: Figures include 49% share of DDR Australia Pty Ltd and RC Construction WA Pty Ltd’s Order Book, Tenders, and Pipeline Note 3: Tenders includes submitted and currently being tendered o
Slide 48: Outlook
Outlook Short term Outlook For personal use only • MSA annuity style work strongly growing • Continue working on many medium sized projects in all sectors • Large projects including Coonawarra, Woodside, Tom Price and CBD Brisbane façade replacement works in progress • Conversion of several ECI Buil
Slide 49: Questions & Answers
For personal use only Questions & Answers Duratec Limited – FY25 Annual General Meeting – 20 November 2025
Slide 50: Appendix
For personal use only Appendix Duratec Limited – FY25 Annual General Meeting – 20 November 2025
Slide 51: Corporate Snapshot
Corporate Snapshot For personal use only Share Price and Volume – FY25 Duratec Limited Board Martin Brydon Non-Executive Chair $1.7 Chris Oates Executive Director, Managing Director Share price (AUD) $1.6 Phil Harcourt Non-Executive Director $1.5 Gavin Miller Non-Executive Director $1.4 Emma Scotney
Slide 52: Duratec Limited FY25 Annual General Meeting
For personal use only Duratec Limited FY25 Annual General Meeting Thursday, 20 November 2025