Lycopodium (LYL) H1 2026 earnings summary

Executive summary

• Reported revenue of $174.5 million for the half-year, up year-over-year, with NPAT of $18.3 million and a 10.5% NPAT margin, meeting internal targets and supported by strong operating cash flows.

• Maintains a diversified client and commodity base across geographies, with a robust order book and pipeline valued at ~$1.3 billion.

• Expanded global presence through new and enlarged offices, especially in the Americas and Middle East, and secured significant new project awards in gold, copper, and lithium.

• Reorganized segment reporting to focus on Asia Pacific, Africa, Americas, and Other, reflecting its global footprint.

Financial highlights

• Revenue for the period was $174.5 million, up 11.7% year-over-year; NPAT was $18.3 million; EBITDA reached $29.6 million.

• Declared a fully franked interim dividend of 22.0 cents per share, totaling $8.7 million.

• Cash and cash equivalents at period end were $80 million, with minimal debt and net tangible assets at $3.52 per share.

• Return on equity was 11.7% for 1H FY26; equity up 11.8% year-over-year.

• Committed contracts valued at $415 million, with a revenue opportunity pipeline of $1.3 billion, both up from the previous period.

Outlook and guidance

• FY26 revenue guidance updated to $370–410 million; NPAT guidance $37–41 million, maintaining a target NPAT margin of ~10%.

• Expects a strong second half, with utilization and headcount forecasted to increase into FY 2027.

• Demand drivers remain strong in gold, copper, lithium, and critical minerals, with infrastructure investment supporting growth.

• Directors recommended an interim dividend of 22.0 cents per share, reflecting confidence in future cash flows.