Civmec delivers FY26 revenue of A$903M and NPAT of A$52M
For the full year ended 30 June 2026 (FY26), Civmec (ASX:CVL, SGX:P9D) delivered revenue of A$903.0 million, up 11.4%, and net profit after tax (NPAT) of A$52.1 million, up 22.5%.
The Group’s order book stood at A$1.4 billion as at 31 July 2026. Civmec Defence Industries was established as a prime contractor to the Commonwealth. Directors declared fully franked total dividends of 6.0 Australian cents for the year.
The figures point to disciplined, broad-based growth across the Group’s operating sectors, supported by a substantial forward workload.
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FY26 financial results at a glance
The FY26 scorecard shows double-digit growth across the Group’s core earnings metrics, with profitability expanding faster than revenue.
| Metric | FY26 | Change on FY25 | Margin / Note |
|---|---|---|---|
| Revenue | A$903.0M | +11.4% | — |
| EBITDA | A$107.3M | +17.0% | 11.9% margin |
| NPAT | A$52.1M | +22.5% | 5.8% margin |
| EPS | 10.23 cents | +22.2% | — |
| Net assets | A$591.2M | — | — |
EBITDA margin of 11.9% and EPS growth outpacing revenue growth reflect profitability expanding faster than revenue across the year.
Balance sheet and cash position
The Group’s financial position reflects continued investment to support a growing workload. Key balance sheet figures at 30 June 2026 included:
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Cash and cash equivalents: A$54.6 million
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Total borrowings: A$60.0 million
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Operating cash flow before working capital movements: A$107.2 million, up 20.0%
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Property, plant and equipment: A$619.6 million
The movement in the cash position over the year reflected increased investment in working capital to support higher levels of activity and the growth in secured work. Net assets of A$591.2 million were underpinned by the Group’s substantial property, plant and equipment base.
A$1.4 billion order book underpins forward earnings
Civmec’s order book stood at A$1.4 billion at 31 July 2026, reflecting the successful conversion of tenders during the second half and a diverse range of awards across its operating sectors.
Civmec’s Q3 FY26 order book had already surged 70% year-on-year to A$1.3 billion as at mid-May 2026, with BHP, Chevron, Woodside and Rio Tinto among the clients contributing new awards, providing a clear line of sight to the A$1.4 billion position reported at 31 July 2026.
Significant awards secured during the year included major SMPE&I packages at Iluka Resources’ Eneabba Rare Earths Refinery and the Perth Sporting and Entertainment Precinct. Tendering activity across the Group remained very strong, with a growing pipeline of early contractor involvement (ECI) and pre-FEED processes across the resources, energy and infrastructure sectors.
Patrick Tallon, Chief Executive Officer
“Our FY26 result reflects the strength of our people, our proven execution capability, and the consistent delivery we bring to every project. The establishment of Civmec Defence Industries, together with the expansion of our regional facilities in Port Hedland and Gladstone, has further broadened our capabilities and market reach. With strong contributions across all sectors, we enter FY27 with a substantial order book, strong market demand, and a robust pipeline of opportunities.”
Operational milestones across sectors
The Group recorded a number of significant operational milestones in FY26, spanning project completions, new awards and continued capability development. Key projects included:
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Iluka Eneabba Rare Earths Refinery — completed over 14,000m³ of concrete works, with further SMPE&I installation packages awarded comprising approximately 4,000 tonnes of steel, 87km of piping and 585km of cabling, plus a follow-on piping fabrication package.
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BHP Port Debottlenecking Project 2 (PDP2) and Car Dumper Program — mobilised to Nelson Point, Port Hedland for civil concrete works on a sixth car dumper (CD6), with CD6 and CD4 in manufacture at Henderson following completion of CD3 during the year.
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Perth Sporting and Entertainment Precinct — delivered under an integrated alliance, with scope covering ground improvement, piling, concrete construction, structural steel installation and fit-out of entertainment areas and public amenities.
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Chevron Gorgon Carbon Capture and Storage (CCS) — secured a follow-on package expanding the scope to 30 module structures and 75 pre-assembled structures of approximately 2,100 tonnes, including 18km of piping and 6.6km of cable, with module delivery having commenced during the year.
Understanding Civmec’s integrated engineering model
Civmec is an integrated, multi-disciplinary construction and engineering services provider to the Energy, Resources, Infrastructure and Marine & Defence sectors.
Two terms recur across the Group’s project work. SMPE&I refers to structural, mechanical, piping, electrical and instrumentation works, the core disciplines of heavy industrial construction. ECI, or early contractor involvement, describes engaging a contractor during the design phase to shape a project before construction begins.
Defence expansion and leadership strengthening
Defence continued to develop as a growth vertical during FY26, with the establishment of Civmec Defence Industries as a prime contractor to the Commonwealth. The expansion of regional facilities in Port Hedland and Gladstone further broadened the Group’s capabilities and market reach.
The Company promoted Mark Clay to Executive General Manager, Defence. Clay joined Civmec in 2018 and was influential in building the Group’s defence business, including the acquisition and integration of Luerssen Australia. In his expanded role, he will lead the Group’s defence capabilities across naval shipbuilding, sustainment and emerging programs.
James Fitzgerald, Chairman
“FY26 was a year of disciplined growth and strategic progress. We grew earnings across a broad mix of sectors, established Civmec Defence Industries as a prime contractor to the Commonwealth, and delivered a strong safety performance across all metrics. The Board is pleased to maintain a fully franked dividend of 6.0 cents for the year, which reflects our confidence in the quality of our order book and the opportunities available to the business.”
Dividend and the FY27 outlook
Directors declared a final dividend of 3.5 Australian cents, fully franked and payable on 23 October 2026, taking total dividends declared for FY26 to 6.0 Australian cents, fully franked.
Looking ahead, the combination of a A$1.4 billion order book, strong tendering activity and a growing pipeline of ECI and pre-FEED opportunities forms the basis of the forward case, alongside broadening capability across defence and regional facilities. Consistent margin expansion and EPS growth over FY26 add further weight to that positioning.
Management noted the Group enters FY27 with a substantial order book, strong market demand and a robust pipeline of opportunities across its operating sectors.
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