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Thu 28 Aug 2025
Close: 481c 
Day's move: 3c (0.63%)
Volume: 24 086
Trades: 28
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Continuing operations
Revenue for the year lowered to AUD2.6 billion (AUD3.1 billion) with gross earnings stumbling to AUD79.3 million (AUD175.6 million). Operating loss after capital items came to AUD68.2 million (profit of AUD27.2 million) with loss for the year attributable to equity holders of the parent ending on AUD92.5 million (earnings of AUD25.7 million). Additionally, headline loss per share from continuing and discontinued operations was AUD64.6c per share (headline earnings of AUD29.6c per share).
Company outlook
Infrastructure
The Infrastructure segment remains well positioned in light of expected increased market activity in specialty sectors. In Australia, ongoing re-prioritisation of public sector investment away from major transport and toward water, defence, and social infrastructure aligns with specialist strategic focus. The temporary slowdown of opportunities coming to market in New Zealand is expected to improve in the coming year and in the Pacific the outlook is positive on the back of defence spend and investment by multi-lateral funding agencies. The Southeast Asia business unit is expected to benefit from the increasing pipeline of marine prospects, specifically in Singapore and Indonesia.
The current work in hand provides a robust revenue platform, with over 68% of planned revenue for FY26 secured and 10% of FY27 planned revenue secured. Work in hand comprises 74% in the government sector and 26% in the private sector.
The business remains focused on converting current tenders of AUD1.9 billion in preferred bidder status to award, with a further AUD3.3 billion in tenders submitted pending decision or in progress.
Building
Built Environs enters the 2026 financial year with 96% of the FY26 planned revenue secured. Markets in Australia remain strong, with government spend in healthcare / life sciences, education and recreation sectors growing in line with the growth in population and the replacement of ageing infrastructure. A recent slow-down in activity in New Zealand has been noticed, however there is a visible forward pipeline in healthcare given the aging healthcare infrastructure.
Built Environs has a preferred bidder status of AUD106 million and current tenders of AUD146 million pending decision.
Mining
Entering the 2026 financial year, the geopolitical market fragmentation and inflationary cost pressures remain key drivers on mining sentiment across Africa. Despite emerging opportunities in the SADC region in the longer term, the current mining environment continues to be impacted in South Africa by logistics infrastructure constraints in rail and port capacity.
Moolmans' consolidation and reset strategy agenda includes a focus on improved operational performance and cash- generation. A key factor to success is contract execution on the newly awarded long-term Gamsberg contract. Despite client mine planning issues, financial performance at Tshipi is expected to improve in line with production levels and the resolution of commercial claims and improved contractual administration.
In order to support the strategy, the overall fleet rationalisation programme continues through the utilisation and renewal of existing fleet and the addition of new equipment. Additional capital expenditure for new equipment and a renewal plan for existing equipment supported by OEMs, over the contract period, will continue. This will be funded through project cashflows.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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