• Resilient performance in challenging macroeconomic environment
• Secured major panel appointments in water sector
• Powerhouse technology revenue grew 90% with 90%+ EBITDA
• Expanded Powerhouse applications to include NEM grid support

Synertec Corporation Ltd delivered a strong performance in FY25 despite a challenging macroeconomic environment, with total revenue and other income of $18.2 million and normalised EBITDA of $2.2 million for the engineering segment, a significant improvement from the prior year. The company's strategic focus on five core sectors - Water, Transport, Energy & Resources, Life Sciences, and Defence & Manufacturing - underpinned this turnaround, with approximately 90% of annual revenue derived from repeat customers. A key highlight was Synertec's success in securing major panel appointments, particularly in the water sector, including the Western Australia Water Corporation Process Control Technologies Panel and the Sydney Water SCADA and Electrical Services Panel. These appointments not only validate the company's technical capabilities but also provide a strong foundation for future growth. Synertec's proprietary Powerhouse technology also delivered impressive results, with revenue growing 90% to $2.0 million and achieving over 90% EBITDA on the five contracted units. The company has also expanded Powerhouse's applications to include NEM grid support, arbitrage, and spinning reserve, significantly expanding the market opportunity. Looking ahead, Synertec is well-positioned to capitalize on the significant opportunities before it, with a strong panel pipeline, deep client relationships, and innovative technology platform.

Synertec reported $18.2 million in revenue and other income for FY25, a decrease of 8% from the prior year, primarily due to sector-wide slowdowns and project timing delays. However, the company's engineering segment delivered a normalised EBITDA of $2.2 million, a significant improvement from $0.8 million in FY24. Powerhouse technology revenue grew 90% to $2.0 million, with an annualised revenue of $2.4 million and over 90% EBITDA on the five contracted units.

Synertec is well-positioned for continued success, with a strong panel pipeline, deep client relationships, and innovative technology platform. The company is confident that its strategy, leadership, and people will continue to drive value for all stakeholders in FY26 and beyond, despite the challenges in the broader economic environment.