Full Year 2026 Southern Cross Electrical Engineering Ltd Earnings Call Transcript
Key Points
- Record underlying EBITDA of $77 million, up 40.5% year-over-year, and record underlying NPAT of $39.4 million, up 24.3%.
- Record order book of $810 million, up 18.2%, providing strong visibility for FY27 growth.
- Strong cash position of $261.5 million, with $28 million in operational cash generation before the capital raise.
- FY27 EBITDA guidance of at least $100 million, representing 30% growth, supported by a record order book and strong pipeline.
- Diversified revenue streams with over 40% from non-electrical disciplines and 31% recurring revenue, enhancing stability.
- Statutory NPAT fell 77% to $7.1 million due to $46.1 million WestConnex arbitration settlement costs.
- Revenue declined 10% to $718 million, driven by the completion of major projects like Collie BESS and Western Sydney Airport Terminal.
- Overheads increased 15.7%, largely due to the full-year consolidation of Force Fire, though partially offset by flat other costs.
- Share-based payment remeasurement of $4.4 million negatively impacted underlying NPAT, driven by a 166% share price surge.
- Dependence on data center and infrastructure projects exposes the company to sector-specific risks, such as grid access issues and project delays.
Thank you for standing by, and welcome to the Southern Cross Electrical Engineering Limited FY26 results webcast. (Operator Instructions)
On the call today, we have Mr. Graeme Dunn, CEO and Managing Director; and Mr. Chris Douglass, Chief Financial Officer.
I would now like to hand over to your first speaker today. Thank you, Graeme. Please go ahead.
Good afternoon, ladies and gentlemen, and welcome to SCEE's full-year results presentation. Turning to slide 2 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 operates 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 disciplined M&A strategy. With our focus on operational excellence,
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