• Revenue of $287.3m and EBITDA of $26.9m delivered (a 12.3% increase from $24.0m in PCP)
• Increased EBITDA and NPAT margins compared to the PCP
• Tenders at a record high of $1.6bn, with a pipeline of $4.1bn

Duratec Limited (ASX: DUR), a leading Australian contractor, has announced its 1H FY25 financial results. The company delivered revenue of $287.3m and EBITDA of $26.9m, a 12.3% increase from the prior corresponding period. Duratec's EBITDA and NPAT margins also increased compared to the previous period. The company's order book stands at $410m, with tenders at a record high of $1.6bn and a pipeline of $4.1bn. Duratec's Managing Director, Chris Oates, commented on the strong performance, highlighting the company's progress in delivering its strategy, supported by a strong balance sheet and good cash conversion. The company remains well-positioned for future growth, with key sectors such as Defence, Energy, and Mining & Industrial providing significant opportunities. Duratec has also successfully increased its project bank guarantee and bonding facilities by $110m to $225m, further strengthening its financial position. The company is confident in its ability to deliver on its stated guidance for FY25, with revenue expected to be in the range of $600m to $640m and EBITDA forecast at $52m to $56m.

Duratec remains well positioned to deliver on its stated guidance for FY25, with revenue expected to be in the range of $600m to $640m, delivering a forecast EBITDA of $52m to $56m.

The order book is healthy, demonstrating good win rates on the small to medium sized projects across all sectors. The tender pipeline is underpinned by ECI opportunities across Defence, Building & Facade, and Mining & Industrial sectors, which provide great confidence and visibility of growth into FY26 and beyond. The Energy Sector continues to provide opportunities for Duratec and WPF, and Duratec's diversification into this sector has been hugely successful.