K&S (KSC) H1 2026 earnings summary

Executive summary

• Operating revenue for the half-year ended 31 December 2025 was $359.7 million, down 6.2% year-over-year.

• Statutory profit after tax was $11.2 million, a decrease of 30.2% compared to the prior year.

• Underlying profit before tax for H1 FY2026 was $15.9 million, down 32.2% year-over-year.

• Operating cash flow increased to $27.9 million, up $1.2 million from the previous year.

• Cost reduction initiatives and operational efficiencies positively impacted results.

Financial highlights

• EBIT for the period was $18.2 million, down 26.9% year-over-year.

• EBITDA was $39.4 million, a 14.7% decrease from the prior year.

• Statutory profit before tax was $16.2 million, down 29.7% year-over-year.

• Underlying profit after tax was $11.0 million, 32.6% lower than the prior year.

• Interim dividend declared at 5.0 cents per share, down from 8.0 cents per share in the prior period.

Outlook and guidance

• Second half result for FY2026 is anticipated to be lower than the prior comparative period.

• Persistently low growth economic environment and margin pressure in Australian Transport segment expected.

• No specific earnings guidance provided due to economic uncertainty.

• Majority of InfraBuild services expected to continue through Q3 FY2026, with cessation timing still unclear.