• Revenue $1.65 billion, up 15.8%
• EBITDA $188.8 million, up 20.1%
• EBITA $96.9 million, up 5.3%

NRW Holdings Limited (ASX: NWH) has announced a 15.8% revenue growth to $1.65 billion, compared to $1.43 billion in the prior comparative period. The growth in first half revenue reflected the strong increase in activity across all three operational segments, with significant contributions from the resources sector in the Civil segment and major projects in the MET segment. In the Mining segment, revenue from the new South Walker Creek (SWC) contract helped grow the business during the period, despite challenges faced by the early termination of the Mt Cattlin lithium contract and the descoping of two fleets at Curragh. The solid revenue growth was offset by the margin impacts of contract changes in the mining business and the impacts of higher than average rainfall during the period. Despite this, the Group's Operating EBIT still increased by 5.3% to $96.9 million. The company also provided an update on the OneSteel situation, noting that it is owed approximately $113.3 million in trade receivables and contract assets, and believes the security has sufficient value to allow recovery of the amounts outstanding. The company has various options regarding the enforcement of this security and will make a decision on the path forward based on the best interest of its shareholders and other stakeholders.

Revenue expected to increase to $3.2 billion to $3.3 billion (from $3.1 billion previously guided); Earnings (EBITA) for FY25 expected to be between $205.0 million to $215.0 million (unchanged); Cash and gearing consistent with long-term averages.

The Civil segment is well placed to secure work from its tier one customer base in the iron ore sector as they undertake previously announced capital expenditure programs. The Mining segment has secured over 95% of its expected revenue for the second half of the financial year with strong visibility of revenue and earnings for future years. The MET segment is well diversified across iron ore, gold, rare earths and battery critical minerals, and is expected to enhance competitiveness in the future and potentially deliver major new sources of revenue and profitability outside of direct contracting.