• Challenging year with revenue decline, but normalized EBITDA improved by 15%
• Engineering business rebounded in 2H after decisive action in Q2
• Powerhouse technology advancing, securing supply chain to maintain leadership

Synertec Corporation Ltd has reported its FY2025 results, with the company facing a challenging year but taking decisive action to improve performance. Total revenue declined 8% to $18.2 million, down from $19.8 million in the prior corresponding period. However, the company's normalized EBITDA improved by 15% to a loss of $2.8 million, compared to a loss of $3.3 million in the prior year. The Engineering business was impacted by broader sector headwinds, leading to redundancies and a company-wide restructure in the first half of the year. However, the decisive action taken by management saw the Engineering division rebound strongly in the second half. The company's pipeline of opportunities remains healthy, and it is looking to recruit additional staff to deliver the current pipeline.The Technology business, led by the Powerhouse proprietary renewable energy system, continues to advance. Powerhouse has been embraced by Santos to power coal seam gas wells in remote Queensland, and the team has engaged with global partners to secure the supply chain and maintain Powerhouse's technology leadership. The company is confident that other operators will follow Santos' lead and deploy Powerhouse to their remote operations.The board and executive team have also undergone a renewal process, with the retirement of the previous Chair and the appointment of Mr. Johannes Risseeuw as the new Chair. The company has also promoted Mr. Yash Gala to the role of Chief Financial Officer, following the transition of Mr. David Harris to the newly created Head of Technology Solutions role.Overall, while FY2025 was a challenging year, Synertec has taken decisive action to restructure the business and position it for future growth. The company's focus on government agencies, utilities, and the development of its Powerhouse technology provide a solid foundation for the future.

The company is confident that the Powerhouse technology will continue to gain traction in the market, with other coal seam gas operators investigating its application to their remote operations. The company is also well-positioned to deliver on its current pipeline of opportunities in the Engineering division, and is looking to recruit additional staff to support this growth.