Symal Group (SYL) H2 2025 earnings summary

Executive summary

• Achieved FY25 normalised EBITDA of $106.1m, up 22% year-over-year and above Prospectus guidance.

• Normalised NPAT reached $45.7m, a 50% increase year-over-year and above Prospectus guidance.

• Normalised revenue grew 15% to $901.7m, though below Prospectus guidance due to project timing.

• Work-in-hand increased 35% to $1.76bn, with significant new contracts and acquisitions.

• Expanded national footprint and advanced organic, inorganic, and innovative growth strategies.

Financial highlights

• Normalised EBITDA margin improved to 11.8%, up 0.7 percentage points year-over-year.

• Normalised EBIT rose 42.5% to $74.2m; EBIT margin at 8.2%.

• Net cash position of $46.1m as of 30 June 2025, up $5.8m from prior year.

• Full-year dividend declared at 5.9 cps, fully franked and 50% of pro-rata NPAT since listing.

• Normalised cash conversion at 121%, supported by working capital benefits.

Outlook and guidance

• FY26 normalised EBITDA guidance set at $115–$125m, including impacts from recent acquisitions.

• Completion and integration of Locale Civil acquisition expected in FY26, subject to closing conditions.

• Continued focus on scaling Sycle and Searo businesses, pursuing further acquisitions, and maintaining dividend payout policy at 30–50% of NPAT.

• Strong WIH and pipeline across infrastructure, power, renewables, data centres, utilities, defence, and building sectors.