Key points
- Mungari Future Growth Project - $155 million EPC contract
- Kainantu Gold Mine - $81 million EPC contract for 1.2Mtpa Process Plant
- King of the Hills Operations Stage 1 Upgrade - $75 million EPC contract
Full summary
GR Engineering Services Limited reported strong half-year results, with revenue of $272.1 million and EBITDA of $34.5 million. The company secured several major new contracts during the period, including a $155 million EPC contract for the Mungari Future Growth Project, an $81 million EPC contract for a 1.2Mtpa Process Plant at the Kainantu Gold Mine, and a $75 million EPC contract for the King of the Hills Operations Stage 1 Upgrade. GR Engineering's design and construction order book includes these new projects as well as ongoing work on the Woodlawn Restart Project and the Kathleen Valley Lithium Backfill Project. The company's process controls subsidiaries, Mipac and Paradigm, also contributed solid results, and the GR Production Services business continued to provide operations and maintenance services to the energy sector. GR Engineering ended the half-year with a strong cash position of $111.8 million and negligible external bank debt.
Guidance
For the 2025 financial year, GR Engineering expects to continue its strong operational performance, with work on major projects continuing into the second half of FY25 and FY26.