Key highlights for 1H FY26:
- Revenue of A$380.4 million
- EBITDA of A$46 million equating to EBITDA margin of 12%
- NPAT of A$21.4 million equating to net profit margin of 5.6%
- Earnings per share of 4.21 Australian cents
- A$87.6 million cash at 31 December 2025
-
Strong order book of A$1.35 billion at 31 December 2025 (increasing from A$1.25 billion
at 30 September 2025) - Interim dividend of 2.5 Australian cents for 1H FY26, consistent with 1H FY25
The Group's cash and cash equivalents stood at A$87.6 million, with net assets of A$534.6
million, representing a net asset value per share of A$1.05. Earnings per share were 4.21c
Australian.
The Company has declared an interim dividend of 2.5 Australian cents which will be fully
franked and paid on 10 April 2026.
Chairman James Fitzgerald said, "Our sustained returns to shareholders reflect the strength
and resilience of our business model. The growth of our order book to A$1.35 billion
demonstrates the trust our clients place in us and highlights the depth of capability across the
Group. These results are a direct reflection of our team's ability to consistently deliver complex
projects and generate value for our stakeholders."
Order Book
As of 31 December 2025, Civmec's order book stood at over A$1.35 billion, reflecting the
successful conversion of tenders during the half year. The order book continues to strengthen,
driven by a diverse range of contracts across our operating sectors, including several
significant awards secured during the period. In addition to these wins, the Group has been
engaged on several early contractor involvement (ECI) processes for medium to large-scale
projects, indicating a clear uplift in activity and strong momentum across the multiple markets
we operate in.
Chief Executive Officer Patrick Tallon said, "Our solid half year results are driven by the strong
execution capability of our people and the consistent delivery we bring to every project. Our
growing order book provides an excellent foundation for the upcoming periods, and we remain
firmly committed to sustainable, long-term growth that supports ongoing value creation for our
shareholders."
Operational Update
The Group had several key operational highlights in 1H FY26, including the successful
completion of projects, receipt of awards and continued development across the sectors we
operate in.
-
BHP Port Debottlenecking Project 2 - Civmec has secured a significant contract with
BHP for the Port Debottlenecking Project 2 (PDP2) at Nelson Point, Port Hedland. As
part of PDP2, Civmec has been awarded the contract to deliver the earthworks and
concrete for the installation of a sixth car dumper (CD6) which is also being
manufactured by Civmec at its Henderson fabrication facility; Civmec has now
mobilised to site and commenced construction activities.
The award of the PDP2 civils package follows the recent award of the steel fabrication
package, which consists of ~700t of structural steel modules including one shuttle, four
maintenance gates, CD6 enclosure and various other structures, as part of the greater
PDP2 project. -
NUSHIP Pilbara (OPV 3) - Civmec Defence Industries (CDI), Civmec's naval
shipbuilding business, successfully launched NUSHIP Pilbara at its Henderson
shipyard on 31 October 2025, marking a significant milestone in the development of
CDI and Western Australia's sovereign shipbuilding capability; NUSHIP Pilbara is the
third of six Arafura Class Offshore Patrol Vessel being built and is the largest steel
naval ship ever built in Western Australia. NUSHIP Pilbara is progressing through
remaining fit-out and sea trials ahead of delivery later this year. Construction of the
three remaining Arafura Class Offshore Patrol Vessels (NUSHIP Gippsland, NUSHIP
Illawarra and NUSHIP Carpentaria) continues at the Group's Henderson facility. -
Fortescue Contracts and Green Iron Project - Civmec has also been awarded a
contract for the construction of Light Mobile Equipment and Support Mobile Equipment
charger facilities and pit power infrastructure at Fortescue's Eliwana and Flying Fish
mine sites. The scope encompasses construction, installation, verification and
commissioning of multiple charger facilities, ranging from prefabricated DC distribution
units to integrated AC chargers along with civil works and electrical integration for
transportable pit power substations. These substations, designed for modular
deployment, will support the rollout of electric excavators and drills, reinforcing
Fortescue's decarbonisation objectives.
Civmec continues to support Fortescue's decarbonisation initiatives, including its
ongoing delivery of concrete and SMPE&I works for Fortescue's Christmas Creek
Green Iron Project. -
Inland Rail - Albury to Illabo footbridges - Civmec has been awarded a package of
work for the steel fabrication and installation for two new footbridges in Wagga Wagga
NSW, the Mothers Bridge at Wagga Wagga Station and the Cassidy footbridge,
supporting the Albury to Illabo section of Inland Rail. Fabrication is progressing at our Newcastle facility, reinforcing local manufacturing capability, with on-site construction -
to occur in stages within a live rail environment.
-
BHP Car Dumper 4 (CD4) - Civmec has successfully completed the fabrication phase
of Car Dumper 4 as part of BHPs ongoing port infrastructure upgrades. The 450-tonne
tandem rotary cell was manufactured at Civmec's Henderson facility and now moves
into the final machining and assembly / commissioning phase of the project. -
Dalrymple Bay Shiploader - Civmec's scope for the Dalrymple Bay Terminal (DBT)
includes the supply, manufacture and assembly of the new shiploader, with all
fabrication and preassembly works being undertaken at our Henderson facilities. The
fabrication phase of the shiploader has now been completed, marking a key project
milestone and progressing the delivery of this major asset for Dalrymple Bay's export
operations. The shiploader has now moved into final assembly and commissioning
phases. -
Chevron DE-PMP Modules - Fabrication of the DE-PMP modules for Chevron's
Gorgon CO₂ Long-term Optimisation project is nearing completion at Civmec's
Henderson facility. Delivery of completed modules has now commenced. This
achievement represents another important milestone in Civmec's long-standing and
trusted relationship with Chevron, built on consistent delivery across multiple major
projects. -
BHP WAIO Vendor Excellence Recognition - Civmec received the Recognition
Award from BHP's WAIO Leadership Team for its contribution to BHP's car dumper
program, reflecting the strong collaboration between both organisations and the
consistent performance of our team. The multi-year program has engaged more than
400 trades and 90 apprentices from our Henderson facility and is supported by ongoing
investment in precision engineering, quality control and advanced manufacturing
technologies. This recognition reinforces Civmec's commitment to continuously
enhancing its people, processes and capability. -
Growth in Balance Machine Division - Currently, two materials handling machines
are progressing through Civmec's manufacturing and assembly phases, with one of
these machines designed by Civmec's in-house engineering team. In parallel, three
additional machines are advancing through in-house design, reflecting continued
utilisation of Civmec's internal design capability. Civmec continues to engage in tenders
and early-stage discussions for further materials handling projects, with ongoing
engagement across three additional prospective clients, supporting continued activity
within the division.