• Resilient performance in FY25 despite industry challenges
• Strengthened balance sheet, reduced net debt ratio
• Announced $23.5M sale of Techforce Personnel, realizing 100% return on investment
• Positioned to benefit from Queensland infrastructure pipeline and Defence sector opportunities

PeopleIN Ltd reported its FY25 financial results, with revenue of $1.098 billion and normalised EBITDA of $33.3 million, down 6.5% and 10.0% respectively on the prior year. The results were impacted by softer business confidence, interest rate uncertainty and severe weather events in Queensland. However, PeopleIN outperformed its peers, maintained an industry-leading net revenue margin of 23.3%, and reduced its net debt ratio from 2.1x to 1.6x through cost reductions and strong cash conversion. This gave the Board confidence to announce a $6 million on-market share buy-back. The company also announced the sale of its 79.3% stake in Techforce Personnel Pty Ltd for $23.5 million, representing more than a 100% return on investment and a higher multiple than the overall PeopleIN group. This divestment further strengthens PeopleIN's capital management position, with its net debt position projected to fall to 1.1x on completion. The company remains well-positioned to benefit from growth opportunities in Queensland's major infrastructure cycle, which is expected to create demand for more than 30,000 additional workers through to FY29. PeopleIN is also poised to support the Defence sector, with increased investment by the Australian and US Governments. The company remains the largest sponsor of the Pacific Australia Labour Mobility (PALM) scheme workers, supporting more than 4,200 participants, and is working to diversify the scheme into aged care, hospitality and construction. In Q1 FY26, PeopleIN delivered a $8.1 million normalised EBITDA result, up 4% on Q4 FY25, with its Engineering Trades and Labour and Professional Services divisions benefiting from improving market conditions, especially in Queensland.

In Q1 FY26, PeopleIN delivered a $8.1 million normalised EBITDA result, up 4% on Q4 FY25. The company's net debt ratio remains stable at 1.7x as at the end of September.

PeopleIN is well-positioned to benefit from growth opportunities in Queensland's major infrastructure cycle leading into the 2032 Olympic Games, as well as the Defence sector, where the company has built strong relationships with the Department of Defence and Defence-industry contractors. The company is focused on capturing demand from Queensland's infrastructure pipeline, deepening client partnerships in defensive and growth sectors, harnessing technology to drive productivity and efficiency, expanding its Defence and Defence-industry staffing capabilities, and pursuing selective accretive acquisitions.