FY2026 results presentation: Genus doubles revenue past $1.28 billion milestone
In its FY2026 results presentation for the 12 months ended 30 June 2026, GenusPlus Group (Genus) outlined record revenue of $1.281 billion, up 70.5% on the prior corresponding period (PCP), alongside record normalised EBITDA that broke through the $100 million threshold.
Management framed the year as a period of significant scaling for the diversified Australian infrastructure service provider, which has grown from $551 million to $1.28 billion in revenue across two years while maintaining its safety performance and operational discipline.
The presentation detailed several transformational moves during the period, including the MPK (MPC Kinetic) acquisition, the Railtrain Group Holdings acquisition completed on 31 March 2026, and a completed $200 million equity raise.
Key headline metrics highlighted in the update included:
- Normalised EBITDA of $100.8m (up 49.6%); statutory EBITDA of $95.8m
- Underlying NPAT of $54.7m (up 44.0%); statutory NPAT of $49.0m
- Orderbook of $2.2b
- 2,503 employees, with a total recordable injury frequency rate (TRIFR) of 2.6
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FY2026 financial highlights at a glance
The scorecard showed broad-based growth across earnings, profitability and shareholder returns. Notably, the total dividend for the year rose 55.6% to 5.6 cents per share.
The prior guidance upgrade in May 2026 had already signalled the $96m-$100m normalised EBITDA range, with Railtrain contributing an estimated $2m-$3m and the remainder driven by organic trading performance, making the final $100.8m result a top-end delivery rather than a surprise.
| Metric | FY2025 | FY2026 | Change |
|---|---|---|---|
| Revenue (A$m) | 751.3 | 1,281 | +70.5% |
| Normalised EBITDA (A$m) | 67.4 | 100.8 | +49.6% |
| Underlying NPAT (A$m) | 38.0 | 54.7 | +44.0% |
| Statutory NPAT (A$m) | 35.4 | 49.0 | +38.5% |
| Basic EPS (cps) | 19.75 | 26.75 | +35.5% |
| Total dividend (cps) | 3.6 | 5.6 | +55.6% |
Management also pointed to a strengthened balance sheet and cash-generative growth. Highlights included:
- Cash balance of $476.0m (up $315.2m)
- Net cash of $399.3m (up $285.8m), including approximately $195.6m raised for the MPK acquisition
- Net cash from operating activities of $194.0m (up 60.4%)
- Free cash flow of $229.7m (before income tax payments), representing a free cash flow to EBITDA conversion rate of 239.9%
- A fully franked final dividend of 3.6 cps, payable 30 October 2026
The quality of earnings was a notable theme, with the company demonstrating that top-line growth translated into strong operating cash generation rather than accounting profit alone.
The MPK acquisition: diversifying into gas and LNG
Management outlined the MPC Kinetic (MPK) acquisition, which completed on 1 July 2026, after the reporting period ended. MPK was described as a leading provider of gas gathering, well servicing, major pipeline, and renewable construction services to Tier 1 asset owners in Australia.
The completion of the MPC Kinetic acquisition on 1 July 2026 marked the formal transfer of MPK’s gas gathering and well servicing operations into the Genus platform, with funding drawn from existing cash reserves, the enlarged debt facility, and net proceeds from the equity raise.
Headquartered in Brisbane, Queensland, MPK operates with a workforce of approximately 900 skilled personnel. The majority of its revenue is derived from onshore gas gathering work in the Surat basin, relating to ongoing work required to maintain LNG supply.
The presentation set out a maximum total consideration of A$400 million, implying an approximate 4.3x FY27 EBITDA and 5.7x FY27 EBIT multiple, assuming the top end of the FY27 earn-out target is achieved. In FY25, approximately 69% of MPK’s revenue was based on schedule of rates, cost reimbursable and target cost work, spanning Tier 1 clients including Santos, Arrow, Origin, QGC and Vestas.
The acquisition was funded via the completed $200 million equity raise, with the revolving syndicated facility increased to $549m. Management set out four strategic pillars supporting the transaction:
- Strategic diversification into the attractive gas and LNG sector, critical for energy security and the energy transition in Australia and globally
- Complementary skills and service offering, with MPK typically performing Civil Balance of Plant (CBOP) scope while Genus performs Electrical Balance of Plant (EBOP) scope on renewable projects
- Highly earnings accretive, supported by strong operating cash flow generation
- Long-term relationships and multi-year contracts with a Tier 1 client base of energy asset owners
Understanding Genus: what a diversified infrastructure service provider does
For investors newer to the company, Genus operates across three reporting segments spanning transport, water, power, oil and gas, renewables and rail.
Two terms feature heavily in the presentation. The orderbook refers to contracted future work already secured, while the tendered pipeline represents opportunities the company has bid for but not yet won. A third measure, recurring revenue, captures long-term customer, panel and multi-year supply and maintenance contracts that provide a more predictable earnings base.
These metrics connect directly to national megatrends, including the “Rewiring the Nation” transmission build-out, the broader energy transition, growing data centre power connection demand, and rising rail infrastructure spend.
| Segment | FY26 Revenue | Change on PCP | Normalised EBITDA |
|---|---|---|---|
| Infrastructure | $837.4m | +101.5% | $55.3m |
| Energy & Engineering | $368.7m | +57.2% | $20.7m |
| Services | $152.2m | +23.5% | $22.8m |
Segment performance driving the growth
Infrastructure powering “Rewiring the Nation”
The Infrastructure segment recorded revenue of $837.4m (up 101.5%) and normalised EBITDA of $55.3m (up 67.6%). Management noted that construction works across the HumeLink East project are fully underway and tracking to current expectations, while the TasNetworks NWTD project continues to progress in line with milestones.
The Hunter-Central Coast Renewable Energy Zone project moved into the construction phase during the year. The Western Power Clean Energy Link progressed positively, with additional work packages totalling $110 million awarded, and the integration of MGC Rail is nearing completion within the segment.
Energy & Engineering ramping renewables
Energy & Engineering delivered revenue of $368.7m (up 57.2%), with normalised EBITDA of $20.7m. Management noted the stable EBITDA reflected the timing benefit of project completions in the prior year and increased investment in pre-contract activities to support future growth.
The segment was awarded the Koolunga 200MW/800MWh Battery Energy Storage System, valued at approximately $110m and now in execution. Commtel was successfully restructured, with a new management team appointed following its acquisition through the administration process.
Services delivering margin strength
The Services segment recorded revenue of $152.2m (up 23.5%) and normalised EBITDA of $22.8m (up 49.2%), reflecting solid margins due to strong execution. Management highlighted strengthening delivery partnerships with Telstra and nbn, while the Environmental business is examining a strategy to expand nationally.
FY2027 outlook: guidance points to circa $200m EBITDA
Looking ahead, management provided guidance for FY2027 EBITDA of circa $200m to $205m, supported by continued momentum across the Group. The orderbook has grown to $2.2 billion (excluding recurring revenue) from $2.0 billion at June 2025.
Forecast FY27 recurring revenue is approximately $764m (including MPK), while the tendered pipeline of $3.6 billion was described as remaining firm despite converting tenders to contract awards during FY26. FY27 CAPEX is forecast at $65m to $70m, including MPK and Railtrain.
Growth thematics the presentation pointed to included:
- The transition of energy networks and decarbonisation of the Australian energy industry
- Diversification into the gas, water and rail sectors
- Anticipated growth in data centres across Australia and participation in connection delivery
The guidance implies a step-change in earnings relative to the FY2026 result.
Presentation highlight
Exceeding $100m normalised EBITDA marks a major milestone in Genus’ growth since listing in December 2020.
Track record: six years of compounding growth
The presentation reinforced a multi-year growth story, with recurring revenue compounding at a rate of 47.5% between FY21 and FY26.
- Revenue: FY21 $318m to FY26 $1,281m
- Normalised EBITDA: FY21 $32.4m to FY26 $100.8m
- Recurring revenue: FY21 $64m to FY26 $446m
On a corporate basis, the share price rose from $4.60 on 22 August 2025 to $8.91 on 21 August 2026, taking market capitalisation to $1,810.0m across 203.1m shares. The board is led by Non-Executive Chairman Simon High and Managing Director/Founder David Riches.
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