SRG Global Delivers Record First Half Performance and Upgrades FY26 Outlook
SRG Global Ltd (ASX: SRG) delivered a record first half FY26 result, reflecting strong operational execution across its Maintenance & Industrial Services and Engineering & Construction divisions. Revenue increased 20% to AU$743.9 million, while underlying EBITDA rose 20% to AU$71 million, representing a margin of 9.5%. EBIT(A) improved 26% to AU$53.2 million, highlighting operating leverage and disciplined cost control.
Cash generation remained a standout, with an EBITDA-to-cash conversion of 97%, enabling net debt to decline to AU$21.2 million, following a AU$52.5 million pro forma net debt position after the TAMS acquisition in October 2025. Earnings per share on an adjusted basis climbed 20 per cent to 5.5 cents, with a fully franked interim dividend of 3.0 cents per share declared, up 20 per cent year on year.
SRG reported a record AU$4.2 billion Work in Hand and an AU$11.5 billion opportunity pipeline, providing strong revenue visibility. Supported by a high proportion of recurring earnings and exposure to infrastructure growth sectors, FY26 guidance has been upgraded to AU$164–AU$168 million EBITDA and AU$126–AU$130 million EBIT(A).
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
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SRG Global Delivers Record First Half Performance and Upgrades FY26 Outlook
SRG Global Ltd (ASX: SRG) delivered a record first half FY26 result, reflecting strong operational execution across its Maintenance & Industrial Services and Engineering & Construction divisions. Revenue increased 20% to AU$743.9 million, while underlying EBITDA rose 20% to AU$71 million, representing a margin of 9.5%. EBIT(A) improved 26% to AU$53.2 million, highlighting operating leverage and disciplined cost control.
Cash generation remained a standout, with an EBITDA-to-cash conversion of 97%, enabling net debt to decline to AU$21.2 million, following a AU$52.5 million pro forma net debt position after the TAMS acquisition in October 2025. Earnings per share on an adjusted basis climbed 20 per cent to 5.5 cents, with a fully franked interim dividend of 3.0 cents per share declared, up 20 per cent year on year.
SRG reported a record AU$4.2 billion Work in Hand and an AU$11.5 billion opportunity pipeline, providing strong revenue visibility. Supported by a high proportion of recurring earnings and exposure to infrastructure growth sectors, FY26 guidance has been upgraded to AU$164–AU$168 million EBITDA and AU$126–AU$130 million EBIT(A).
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au