Half Year 2026 Southern Cross Electrical Engineering Ltd Earnings Call Transcript
Key Points
- Southern Cross Electrical Engineering Ltd (ASX:SXE) reported a record half-year gross profit of $65.9 million, up 30.3% from the previous period.
- The company achieved an underlying EBITDA of $35.4 million, marking a 30.8% increase from the prior corresponding period.
- The order book increased by 6% to $710 million, indicating strong future business prospects.
- The company declared a fully franked interim dividend of $2.05 per share.
- Southern Cross Electrical Engineering Ltd (ASX:SXE) has raised its FY26 EBITDA guidance to at least $72 million, reflecting confidence in future growth.
- Revenue decreased by 12.2% due to the completion of major projects like the Collie and Western Sydney Airport terminal projects.
- The company incurred a NPAT loss of $12.8 million due to the WestConnex arbitration settlement.
- Overheads increased by 29.4%, primarily due to the consolidation of the Force Fire acquisition.
- The cash balance decreased to $58.8 million following the WestConnex settlement payment.
- Future gross margins are expected to decrease to 16-17% in the second half, down from the current 18.9%.
Thank you for standing by and welcome to the Southern Cross Electrical Engineering Limited Half Year 26 results webcast.
(Operator Instructions) I would now like to hand the conference over to Mr. Graeme Dunn, CEO and Managing Director.
Good afternoon, ladies and gentlemen. Welcome to SCEE half year results presentation. Turning to slide two for a brief introduction to SCEE. SCEE is a leading and trusted national provider and manufacturer of specialized electrical instrumentation, communications, security, fire, and maintenance services and products that operate across the three broad market sectors of infrastructure, commercial, and resources.
We operate through several company entities as shown, that have been acquired through our discipline M&A strategy. This has resulted in the company being diversified across multiple market sectors and geographies, with 85% of our order book on the east coast.
Additionally, we are
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