NRW Holdings (NWH) Investor presentation summary

Business overview and strategy

• Operates as a diversified group with nine market-leading businesses across engineering, manufacturing, construction, operations, and maintenance in resources, infrastructure, and government sectors.

• Employs approximately 13,000 people across Australia, New Zealand, USA, and Canada.

• Recognized among the top 10 ASX stocks for total shareholder return over the past decade, with a 52.4% annualized return.

• Pursues disciplined, value-accretive M&A to expand capabilities, especially in energy transition and digital innovation.

• Maintains a strong geographic presence and a track record of integrating acquisitions for growth.

Financial performance and guidance

• FY26 revenue guidance is $4.1B–$4.2B, with underlying EBITA guidance of $275M–$285M.

• Half-year revenue reached $2.0B, with cash holdings of $342.4M and underlying NPAT of $83.1M.

• Order book stands at $7.5B as of December 2025.

• Fully franked interim dividend of 8.5cps declared.

• Demonstrates a circa 27% CAGR in revenue since FY16.

Growth through acquisitions

• Recent acquisitions include Fredon Industries (2025), HSE Mining (2024), OFI (2023), and Primero (2021), each expanding capabilities and market reach.

• Acquisition multiples have ranged from less than 1x to 5.2x EV/EBIT.

• Over 150 current projects and more than 100 clients across 10+ commodities.