FY25 Financial Results - Media Release
| Stock | GR Engineering Services Ltd (GNG.ASX) |
|---|---|
| Release Time | 25 Aug 2025, 9:33 a.m. |
| Price Sensitive | Yes |
GR Engineering Reports Strong FY25 Financial Results
- Revenue of $479.0 million, up from $424.1 million in FY24
- EBITDA of $57.2 million, up from $50.9 million in FY24
- Profit before tax of $51.1 million, up from $46.1 million in FY24
GR Engineering Services Limited (ASX:GNG) today announced its financial results for the financial year ended 30 June 2025 (FY25). The Group reported revenue of $479.0 million, up from $424.1 million in FY24, EBITDA of $57.2 million, up from $50.9 million in FY24, and a profit before tax of $51.1 million, up from $46.1 million in FY24. The improved results were driven by solid contracting activity from the core business and the key subsidiaries, GR Production Services (GRPS), Mipac, and Paradigm. The Group's mineral processing and energy order book for works currently being undertaken and which will continue into FY26 includes major projects such as the King of the Hills Operations Stage 1 and Stage 2 Upgrade, the Eloise Copper Expansion Project, and the Kainantu Gold Project. The Group's process controls business, comprising Mipac and Paradigm, continued to deliver control systems, automation, and digital solutions for key repeat clients. GRPS achieved revenue contributions primarily through the provision of operations and maintenance services to the energy sector, including conventional gas, coal seam gas to liquefied natural gas, LNG, green hydrogen production and transport, carbon sequestration, and the onshore and offshore oil and gas sectors throughout Australia. The Group maintained a solid cash position of $71.0 million at 30 June 2025 with negligible external bank debt and paid out $33.4 million in fully franked dividends to shareholders during the year.
The Group intends to provide FY26 guidance at its 2025 Annual General Meeting, to be held on 21 November 2025, when it is likely to have more certainty in relation to the timing of key projects.
The Group's contracted and near-term pipeline across the business is solid and continuing to grow, and the Group's medium to long term visibility for project work remains high based on the pipeline and the high levels of study work.