• Disciplined strategy execution delivering strong results and driving positive momentum
• Delivered strong growth in revenue, earnings and profit
• Exceptional cash flow generation and strengthened balance sheet
• Continued improvement in Utility Division earnings and margins

Service Stream has reported a strong first-half performance for FY25, exceeding expectations across all key financial metrics. Total revenue increased by 7.9% to $1,267m, with growth achieved across all three business segments. Underlying EBITDA from Operations grew by 16.4% to $73.6m, driven by a margin improvement in the Utilities division. Adjusted NPAT increased by 49.9% to $37.7m, benefiting from lower interest and depreciation costs as well as a one-off tax benefit. The company generated exceptional operating cash flow, with a conversion rate of 126.3%, enabling a 25% increase in the interim dividend to 2.5 cents per share. Service Stream's work in hand has grown by 17% to $5.9bn, with 99% of FY25 work already secured under contract or extension options. The company is well-positioned for continued growth, with a strong order book, improved balance sheet and favourable market conditions. Key highlights include disciplined strategy execution, strong revenue and earnings growth, exceptional cash flow, and continued improvement in the Utilities division.

The Group is on target to deliver solid earnings growth and improved quality of earnings in FY25, supported by a strong order book, improved balance sheet and favourable market conditions.

Service Stream is expecting further improvements in the quality of earnings across its Utility operations, with a first-half bias in FY25 due to stronger than anticipated contributions from the Telecommunications segment. The company has a strong pipeline of opportunities across current and adjacent markets to support growth over the medium and longer-term.