Civmec’s First-Quarter Revenue Jumps 70% as Order Book Climbs to About AU$1.4 Billion

Highlights:

• Revenue for the quarter rose roughly 70% from a year earlier to AU$324 million.

• Net profit after tax grew about 75% to AU$18.4 million.

• The Order Book now stands near AU$1.4 billion, lifted by recent contract wins.

Civmec Limited (ASX: CVL) opened FY27 with sharp gains in revenue and profit, helped by busier construction sites and fresh contract wins across its main markets. In an operational update on 29 October 2026, the company said revenue for the three months to 30 September 2026 was AU$324 million, about 70% above the AU$190.4 million of the first quarter of FY26.

EBITDA came to AU$35.1 million, a margin of 10.8%. Net profit after tax was roughly 75% higher at AU$18.4 million, against AU$10.5 million a year before, for a margin of 5.7%.

New Contracts Lift the Order Book

As at the date of the update, the Order Book was about AU$1.4 billion, up from AU$1.15 billion a year earlier. Much of the increase came from contract awards and extensions worth more than AU$220 million, announced on 5 October 2026. That work will be delivered over FY27 and FY28, and the Wagerup Gallium project is a notable addition. The pipeline is spread across resources, energy, infrastructure, marine and defence. Civmec also reported busy tendering, including early contractor involvement on a number of mid-sized and large opportunities.

Wagerup Gallium and Defence Work

In the quarter, Civmec won the contract to build a gallium production plant at Alcoa’s Wagerup Alumina Refinery in Western Australia. The scope covers civil, structural, mechanical, piping, electrical and instrumentation work, plus process facilities, tanks, a laboratory and supporting infrastructure. Civmec will also help Alcoa through commissioning, and the project is expected to create as many as 200 local construction jobs.

At Henderson, work on the SEA 1180 Arafura Class Offshore Patrol Vessel program carried on, with four vessels still being built. The Commonwealth has accepted the baseline schedule for the rest of the program, which runs to 2029.

Civmec also shipped a 1,900-tonne shiploader for Dalrymple Bay, and BHP’s 500-tonne Car Dumper 4 reached Port Hedland for final installation. Work continued on BHP’s Port Debottlenecking Project 2 and on Iluka Resources’ Eneabba Rare Earths Refinery.

Dividend and Outlook

The FY26 final dividend of 3.5 cents per share, fully franked, was paid on 23 October 2026. Chief Executive Officer Patrick Tallon pointed to progress on major projects and growing opportunities in critical minerals, infrastructure and defence. He added that the expanding pipeline and clearer direction for the Henderson Defence Precinct could open up significant long-term prospects.

With a large Order Book, rising project activity and ongoing tendering, Civmec’s focus is on delivering its current commitments and building its workforce for future growth.

Note: All data presented is based on information available at the time of writing.

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