Mayank Bansal, CFA
Mayank Bansal is a CFA Charterholder and heads the Equity Research team at Kapitales Research, with over 5 years of experience analysing global equity markets. He leads fundamental, data-driven research combining rigorous financial analysis with macro trends.
Duratec Reports Record AU$650.8 Million Order Book as FY26 Profit and EBITDA Reach New Highs
Highlights:
Introduction
Duratec Limited (ASX: DUR) delivered record profitability and strengthened its project pipeline during FY26, supported by disciplined project execution, strategic acquisitions and growing demand across its infrastructure and maintenance markets. Although annual revenue remained broadly stable, improved margins and a stronger order book positioned the Australian engineering and remediation contractor for further growth in FY27.
In its full-year results announcement released on 26 August 2026, the company reported a solid financial performance for the year ended 30 June 2026, with record earnings and a strong balance sheet.
Record Earnings Despite Stable Revenue
Duratec recorded revenue of AU$570.3 million in FY26, compared with AU$573 million in the previous financial year. Despite the slight decline, normalised earnings before interest, tax, depreciation and amortisation (EBITDA) increased 10.5% to AU$58.5 million from AU$53 million.
The EBITDA margin also improved to 10.3%, compared with 9.2% in FY25. Net profit after tax (NPAT) reached a record AU$23.8 million, representing 4.1% annual growth. Earnings per share increased to 9.25 cents from 9.10 cents. The company ended the financial year with AU$78.8 million in cash, compared with AU$84 million a year earlier.
Order Book Expansion Supports FY27 Outlook
A major highlight was the expansion of Duratec's order book to a record AU$650.8 million as of 21 August 2026, up 67% from FY25. Its tender opportunities stood at AU$1.3 billion, while the broader project pipeline reached AU$4.8 billion.
The Building and Facade division delivered record revenue of AU$138.8 million, increasing from AU$111.9 million in FY25. The Energy division also recorded 11% revenue growth to AU$91.6 million, supported by maintenance, fuel infrastructure and decommissioning activities.
Meanwhile, the Defence division generated AU$157.8 million in revenue, while Mining and Industrial revenue reached AU$114.3 million. Emerging sectors, including Marine, Transport Infrastructure and Water Infrastructure, recorded an 11.8% increase in revenue to AU$67.8 million. Managing Director Chris Oates highlighted the contribution of targeted acquisitions and expanded in-house capabilities to the company's performance.
Dividend and Financial Outlook
Duratec declared a final fully franked dividend of 2.5 cents per share, taking its total FY26 dividend to 4.25 cents per share. The final dividend has a record date of 16 September 2026 and payment date of 14 October 2026.
Conclusion
With record earnings, a growing order book and opportunities across multiple infrastructure sectors, Duratec enters FY27 with a strengthened project portfolio. Its focus on recurring revenue, strategic acquisitions and operational capabilities is expected to support its future growth ambitions.
Note: All data presented is based on information available at the time of writing.
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