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Service Stream (SSM) investor relations material
Service Stream H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved strong financial performance with double-digit earnings and profit growth, robust cash flow conversion, and a strengthened net cash balance sheet.
Expanded work-in-hand by 40% to $7.6 billion, with a 98% contract renewal rate and a diversified, long-term order book.
Increased annual dividends and improved shareholder returns, supported by a strong net cash position.
Maintained industry-leading safety performance, with a 24% reduction in injury rates and significant sustainability achievements.
Financial highlights
Group revenue reached $2.42 billion, up 1.2% year-over-year, with underlying EBITDA at $146.1 million, up 13.1%.
NPATA was $68.5 million, up 36.7%, and statutory NPAT was $59.2 million.
Operating cash flow was $149 million, with a 104% EBITDA to OCF conversion.
Net cash position improved to $73.6 million, up $65.7 million year-over-year.
Full-year dividend increased 22% to $0.055 per share, fully franked.
Outlook and guidance
FY 2026 earnings growth expected, supported by a strong order book and further utility margin improvements targeting 5–6%.
85% of FY 2026 work-in-hand under contract, with 80% in lower-risk R&M works.
Continued investment in core markets, organic growth, and potential for strategic M&A.
Strong pipeline of growth opportunities across current and adjacent markets.
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2025 revenue rose 11% to $275B; 2026 outlook projects $280B revenue and $30.25+ EPS.
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