Highlights:

• Maas Group Holdings reported record FY26 Underlying EBITDA of $300.3 million, up 37% year on year.
• The company is moving forward with plans to divest its Construction Materials division in a transaction valued at up to $1.703 billion.
• Electrical infrastructure remains a key growth area, with approximately $1.2 billion in secured work in hand.

Record FY26 Performance

Maas Group Holdings Limited (ASX: MGH) outlined its FY26 performance and strategic priorities in an ASX announcement dated 24 September 2026, highlighting a record financial result and continued progress towards reshaping the Group. The company reported Underlying EBITDA of $300.3 million, representing a 37% increase from FY25. Underlying revenue rose 27% to $1.264 billion, while Underlying net profit after tax climbed 57% to $123.4 million. Underlying earnings per share increased 51% to 34.2 cents, and statutory NPAT attributable to MGH owners reached $136.1 million, up 89%.

Operating cash flow before land inventory, interest and tax was $183.5 million, translating into a 93% cash conversion rate of Underlying EBITDA excluding fair value gains. Net leverage stood at 2.6 times at 30 June 2026, within the company's target range of two to three times.

Electrical Infrastructure Drives Growth

Maas said its Electrical, Civil Construction and Hire operations delivered Underlying EBITDA of $65.1 million, an increase of 64% from FY25. Growth was supported by electrical infrastructure, data-centre and energy-related projects, along with improved plant utilisation.

The business has secured around $1.2 billion in electrical work, including an approximately $855 million order announced in August for modular Power Cube solutions and related high-voltage infrastructure.

Construction Materials Sale and Strategic Repositioning

Maas is advancing the planned sale of its Construction Materials division to Heidelberg Materials Australia, with the deal carrying a total cash value of up to $1.703 billion, including $120 million in contingent payments. The transaction secured ACCC approval on 31 July 2026 and is scheduled for completion in October 2026, subject to shareholder approval and the fulfilment or waiver of the remaining conditions.

The company said the transaction could strengthen its balance sheet and provide greater flexibility to redeploy capital towards electrical infrastructure, digital infrastructure, electrification and related sectors.

Market Update

At the provided market price, Maas Group shares were trading at AU$6.570, up AU$0.140 or 2.177%. Maas also announced that it will discontinue formal short-term quantitative earnings guidance, instead focusing market communication on operational drivers, capital allocation and longer-term strategic milestones.

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

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