Leading national mining and civil contractor NRW Holdings (ASX: NWH) has announced its financial results for the six-month period to 31 December 2025.
NRW reported revenue of $2 billion for the period, an increase of 19.5% compared to the prior comparison period.
The growth in activity across the group resulted in an underlying EBITA of $132.3 million, 36.4% higher than December 2024.
Highlights
- Fredon acquisition successfully completed
- Revenue $2 billion, up 19.5% pcp
- Underlying EBITA $132.3 million, up 36.4% pcp
- Underlying EPS 18.1 cents per share, up by 41.4% pcp
- Statutory net profit after tax of $72.8 million, up 40.8%
- Record cash at bank of $342.4 million driven in part by cash flow conversion of 114.1%
- Strong order book of $7.5 billion, inclusive of repeat business
- Growing near-term pipeline at $25.2 billion, with $9.2 billion of active tenders
- Fully franked interim dividend declared of 8.5 cents per share, up 21.4%
- Guidance further upgraded to full year FY26 underlying EBITA of $275 million – $285 million
Commenting on the strong first-half result, NRW managing director Jules Pemberton said:
“I am delighted to present a very strong set of financial results for the first half of FY26, reflecting the strength of our diversified business model and the disciplined execution of key projects delivered across the group. We have delivered earnings growth and a strong cash performance while positioning NRW to benefit from a broad range of future opportunities.
“Following the successfully executed acquisition of Fredon, I have been very impressed by the business and the people that make up that business, and I see significant upside opportunities from their exposure to several growth sectors including data and defence. We have received overwhelmingly positive feedback from Fredon’s clients and, importantly, from their employees, whom we are pleased to welcome to the NRW group.
“Looking ahead, I am optimistic about the outlook across all four segments, each of which enters the second half with strong momentum and clear opportunities for long-term sustainable growth. With a $7.5 billion order book and record $9.2 billion of active tenders across the group, I remain confident in our ability to convert opportunities and deliver strong growth for our shareholders.
“In closing, I want to thank our circa 12,000‑strong workforce for their dedication to delivering for our clients. Their efforts continue to drive the success of the NRW group.”
