FDC lifts FY27 guidance by 5-10% as work in hand hits $2.85 billion
FDC Consolidated Holdings Limited (ASX: FDC) has upgraded its FY27 revenue and normalised EBIT guidance by 5-10%. The company said the FY27 guidance upgrade is supported by project execution, earnings performance to date and new contract wins.
Updated FY27 revenue guidance is $2.00-$2.08 billion, while normalised EBIT guidance is $105-$110 million. Work in hand has reached $2.85 billion, according to the announcement dated 11 November 2026.
Guidance versus the prospectus forecast
The table compares the updated guidance with the FY27 pro forma prospectus forecasts.
| Measure | Prospectus forecast | Updated guidance |
|---|---|---|
| Revenue | $1.9 billion | $2.00-$2.08 billion |
| Normalised EBIT | $100 million | $105-$110 million |
| Normalised EBIT margin | 5.3% | ~5.3% |
The prospectus figures are FY27 pro forma forecasts presented on a rounded basis. The updated guidance is on the same normalised basis, and all figures relate to the year ending 30 June 2027.
With the margin held at roughly 5.3%, the EBIT uplift comes from higher revenue.
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Work in hand reaches $2.85 billion
As at 31 October 2026, work in hand stood at $2.85 billion, up $350 million or 14% compared to 30 June 2026. Revenue delivered to date, together with secured work scheduled for the remainder of FY27, now fully supports the original prospectus revenue forecast.
No single sector accounts for more than one-fifth of work in hand. The largest sector weightings are:
- Industrial: 18.1%
- Education: 17.1%
- Data centres: 16.3%
New project wins across both Construction and Fitout & Refurbishment further strengthen this diversification. They span retirement living and aged care, education, industrial, health, data centres, public spaces and commercial.
Russell Grady, Chief Executive Officer
“Our performance reflects the continued success of our stated growth plan. Importantly, our diversified portfolio provides opportunities for growth across sectors, geographies and project sizes. We remain disciplined in selecting projects that meet our delivery, risk and return criteria…”
What drives the upgrade: how construction contractors build earnings
Work in hand is the secured, contracted revenue a contractor still has to deliver. A larger balance gives a clearer view of the revenue already lined up for coming periods.
Normalised EBIT is earnings before interest and tax, adjusted for the items set out in the prospectus. It is a non-IFRS financial measure, presented on a basis consistent with the pro forma prospectus forecasts, and should be considered alongside statutory financial measures.
The company attributed the upgrade to continued execution of its stated growth plan, delivering:
- Project execution and earnings performance to date.
- New contract wins secured through disciplined project selection, increasing work in hand to $2.85 billion.
- Growth across an increasingly diversified mix of sectors, geographies and project sizes.
Assumptions behind the guidance
The revised FY27 guidance assumes:
- Current trading conditions continue.
- Projects progress broadly in line with expected schedules.
- No material adverse changes occur in market conditions or the Group’s operations.
Financial information for the four months ended 31 October 2026 is unaudited. The announcement also notes that changes in economic conditions, project timing and delivery costs may cause actual results to differ materially.
FDC is an Australian construction and building services contractor founded in 1990, employing more than 730 people and focused primarily on the non-residential building market.
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