Q1 FY27 highlights: revenue up ~70% to A$324 million
In its Q1 FY27 quarterly update for the quarter ended 30 September 2026, Civmec Limited recorded revenue of A$324 million, up approximately 70% on Q1 FY26 (A$190.4 million). The company attributed the increase to a significant uplift in activity across its Construction division.
EBITDA (earnings before interest, tax, depreciation and amortisation) was A$35.1 million, a margin of 10.8%. Net profit after tax (NPAT) was A$18.4 million, a margin of 5.7%, up approximately 75% on Q1 FY26 (A$10.5 million).
Civmec reported an Order Book of approximately A$1.4 billion and was awarded the construction contract for the Wagerup Gallium project. The final dividend for FY26 of 3.5 cents per share (fully franked) was paid on 23 October 2026.
| Metric | Q1 FY27 | Q1 FY26 | Change |
|---|---|---|---|
| Revenue | A$324 million | A$190.4 million | Up ~70% |
| EBITDA | A$35.1 million | n/a | n/a |
| NPAT | A$18.4 million | A$10.5 million | Up ~75% |
| Order Book (comparison is the same time last year) | ~A$1.4 billion | A$1.15 billion | n/a |
Chairman James Fitzgerald linked the result to the company’s strategy:
James Fitzgerald, Chairman
“Our first quarter reflects an increase in activity across the business and is a clear demonstration of the success of Civmec’s diversification strategy. Strong contributions from our resources, energy, infrastructure and defence work, together with new awards such as the Wagerup Gallium project, give us a solid platform for the year ahead…”
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Order book of ~A$1.4 billion and a strengthening pipeline
As at the date of the announcement, the Order Book stood at approximately A$1.4 billion, compared with A$1.15 billion at the same time last year.
This followed the 5 October 2026 announcement of new contract awards and extensions with a combined value exceeding A$220 million, to be delivered across FY27 and FY28. Led by Wagerup Gallium, the awards reflect the Group’s continued success in converting its pipeline of opportunities in the critical minerals sector, and the strength of its long-standing relationships with Tier-1 clients.
The new contract awards announced on 5 October also included a Glencore Murrin Murrin Bulk Cargo Terminal package, underlining maintenance work as a growing pillar alongside construction and backed by permanent facilities in Port Hedland and Gladstone.
The Order Book remains diversified across the resources, energy, infrastructure, and marine and defence sectors.
Tendering activity remains robust. Civmec is taking part in a number of early contractor involvement (ECI) processes on medium- to large-scale projects, spanning critical minerals, alumina, gold, copper, and port and transport infrastructure, while the East Coast pipeline continues to grow.
Wagerup Gallium and major project progress
Wagerup Gallium at Alcoa’s Wagerup Alumina Refinery
Civmec was awarded the construction contract for the gallium production plant at Alcoa’s Wagerup Alumina Refinery in Western Australia. The project brings together government and industry partners from Australia, Japan and the United States.
A final investment decision was made in July 2026, and a groundbreaking ceremony in August 2026 marked the start of construction.
Civmec will deliver the multidisciplinary construction of the process facilities, including civil, structural, mechanical, piping, and electrical and instrumentation works, along with the process building, tanks, laboratory and supporting infrastructure. It will support Alcoa through commissioning, and the project is expected to support up to 200 local construction jobs.
Operational highlights
- SEA 1180 Arafura Class OPV Program: all four remaining vessels (OPV 3 to OPV 6) are under construction at Henderson, and the Commonwealth accepted the baseline schedule for the remainder of the program through to 2029.
- Henderson loadouts: the 1900-tonne Shiploader for Dalrymple Bay has been installed on the load-out wharf in Queensland, and BHP’s 500-tonne Car Dumper 4, the second of three being manufactured by Civmec, arrived in Port Hedland.
- BHP Port Debottlenecking Project 2 (PDP2): piling works continue to make substantial progress, while fabrication of Car Dumper 6 continues at Henderson.
- Iluka Eneabba Rare Earths Refinery: Civmec continues to ramp up resources on the SMP and E&I package.
- Completions: packages on the Fortescue Green Iron plant and a major shutdown on CSBP’s Sodium Cyanide Expansion project.
- First BHP Olympic Dam award: Civmec secured its first supply contract for the operations, described as modest in size but strategically important.
- Newcastle: work on bridges for Transport for NSW, fabrication of an approximately 1,000-tonne steel package for the M5 bridge project, and an order for dump truck trays for WesTrac.
Chief Executive Officer Patrick Tallon pointed to the ramp-up on major projects:
Patrick Tallon, Chief Executive Officer
“We have made a strong start to FY27, with revenue up significantly on the same quarter last year as our teams ramp up on major projects such as BHP’s PDP2 and Iluka’s Eneabba refinery. Securing the Wagerup Gallium project, along with milestones such as the loadout of the Dalrymple Bay Shiploader and BHP Car Dumper 4 from Henderson, demonstrates the breadth of our integrated capability…”
What is an order book and why it matters to investors
An order book is the value of contracted work a company has won but is yet to deliver. For investors, it offers visibility on work already secured.
Civmec’s Order Book of approximately A$1.4 billion compares with quarterly revenue of A$324 million for Q1 FY27.
Early contractor involvement (ECI) means a contractor takes part in project planning ahead of a full construction contract being awarded.
Henderson Defence Precinct and what happens next
During the quarter, the Western Australian and Commonwealth Governments jointly confirmed the zone allocation for the Henderson Defence Precinct. Defence expansion activity, including shipbuilding and sustainment and nuclear-powered submarine sustainment, will be located to the north of Civmec’s Henderson facility, with the area immediately in front of it allocated to non-defence industry.
According to Civmec, this allows it to continue operating across all of its sectors from Henderson with minimal interference, while remaining well positioned to pursue opportunities in the build and development programs associated with the precinct.
For investors weighing how the precinct could shape Civmec’s longer-term pipeline, our deep-dive into Civmec’s Henderson Defence Precinct plans and shareholder questions sets out the A$25 billion funding envelope, the Arafura Class vessel status and the scope and procurement detail still to come.
Key upcoming events stated in the update:
- Annual General Meeting: 10:30 AM (AWST/Singapore time) on 30 October 2026 at the Carlton Hotel Singapore, 76 Bras Basah Road, with virtual attendance available for shareholders unable to attend in person.
- CSBP Sodium Cyanide Expansion: the final shutdown is scheduled for November 2026.
- M5 bridge steel package: delivery and installation is scheduled for early 2027.
- OPV program: the baseline schedule has been accepted through to 2029, and Civmec remains on track to achieve the key delivery milestones.
- Henderson Defence Precinct: Civmec looks forward to further detail on the scope and timing of the planned investment.
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