GenusPlus Group (GNP) H1 2025 earnings summary

Executive summary

• Achieved record half-year revenue of AUD 333 million (up 33% year-over-year) and statutory NPAT of AUD 13.7 million (up 51%), with strong growth across all business segments.

• Normalized EBITDA reached AUD 27.4 million, up 25%, reflecting improved performance across all segments.

• Major contract wins and strategic acquisitions, including Comtel, Partum, and Geographe Tree Services, expanded national footprint and service offerings.

• Order book surged to AUD 1.5 billion, supporting robust earnings growth outlook for FY2025.

• Workforce expanded to over 1,200 employees, with a focus on diversity, inclusion, and Indigenous engagement.

Financial highlights

• Revenue for the half was AUD 333 million; normalized EBITDA AUD 27.4 million; statutory NPAT AUD 13.7 million.

• Free cash flow from operations was AUD 35.5 million, with a conversion rate of 136%.

• Cash balance remained strong at AUD 89.9 million after funding acquisitions and CapEx.

• Basic EPS was 7.69 cents, up 51% year-over-year; diluted EPS 7.56 cents, up 48%.

• Order book at AUD 1.5 billion, up from AUD 519 million at FY24 end; forecast FY25 recurring revenue of AUD 276 million.

Outlook and guidance

• Reiterated at least 20% EBITDA growth guidance for FY2025, with a robust tender pipeline and order book near AUD 1.5 billion.

• Recurring revenue expected at AUD 276 million for FY2025, up 23% from FY2024.

• Significant future opportunities in infrastructure, especially with "Rewiring the Nation" and major transmission projects.

• Tender pipeline remains strong at AUD 2.2 billion, with an additional AUD 4 billion in opportunity leads.

• Infrastructure margins expected to return to 10-11% as resourcing investments are absorbed and project volumes increase.