Full Year 2026 SRG Global Ltd Earnings Call Transcript
Key Points
- Record FY26 results with EBITDA of $170.1 million, up 34% year-over-year, exceeding upgraded guidance.
- Strong cash generation with 101% EBITDA-to-cash conversion and a return to a net cash position of $6.2 million.
- Successful TAMS acquisition delivered 11% above business case in its first 8 months, with full integration and cultural alignment.
- Robust work-in-hand of over $5 billion, up 42% year-over-year, providing strong forward visibility and an 80%+ annuity recurring earnings profile.
- Upgraded FY27 guidance to $195-$205 million EBITDA, reflecting confidence in continued growth and momentum.
- Organic growth in FY26 was modest at 7-8% EBITA growth, with a heavier reliance on M&A for overall earnings expansion.
- Defense sector opportunities are expected to be a medium-term play, with material uplift not anticipated until FY29-FY30.
- The company's guidance implies a conservative second-half split, with potential timing risks on project spending affecting FY27 performance.
- M&A pipeline remains non-committal, with no advanced discussions disclosed, limiting near-term inorganic growth visibility.
- Cash conversion is expected to normalize to around 80% in future years, suggesting FY26's 101% may not be sustainable.
Thank you for standing by, and welcome to the SRG Global full-year results investor briefing. (Operator Instructions)
I'd like to introduce today's presenters, Mr. David Macgeorge, Managing Director; and Mr. Roger Lee, CFO. I'd now like to hand the conference over to Mr. David Macgeorge. Please go ahead.
Thanks, Darcy. First, I'd like to welcome everyone to the full year results call for SRG Global for FY26. And look, before I start, I'd really like to acknowledge our people. There will be many of you bringing in today and really acknowledge your efforts in delivering FY26. You continue to step up -- you continue to live and breathe what we stand for, for the challenge smart together, never give up and have each other's backs.
And these results today are a testament to your hard work over the last 12 months. So thank you.
I always like to start with a little bit about us on Slide 2, who we are, what we do and what we're trying to be and who we are. We're a
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
