• Selling Health and Community brands to Healthcare Australia for $20.25m at a 6.2x multiple
• Focused growth plan in key sectors: infrastructure, defence, food services, and professional services
• Solid Q2 momentum with over 15% organic growth in Engineering, Trades and Labour

PPE Limited has announced a strategic decision to divest its Health and Community brands, including the FCC and Edmen businesses, to Healthcare Australia Pty Ltd. The sale, at a compelling multiple of 6.2x, will provide PPE with capital to accelerate its focused growth plan in key sectors such as infrastructure construction (especially in Queensland), defence and defence-industry, food services and agriculture, and professional services. The Health and Community brands were acquired between 2017 and 2021, but lacked the scale to compete effectively with key competitors, particularly during structural changes in major public and private health organisations. The divestment to Healthcare Australia, which has the scale and market position to further grow the businesses, represents a strategic opportunity for PPE.The company also provided a trading update for Q2, reporting solid momentum across the business. Engineering, Trades and Labour is on track to deliver over 15% organic growth due to increased hours and billing rates. While the RWM division faced some challenges earlier in the half, these are starting to dissipate with positive net PALM visa arrivals in October and November, and the lifting of drought-related shutdowns in Victoria and South Australia. The Education division also saw organic growth of $0.5m in H1, and the Professional Services division is relatively stable, with improving market conditions.Overall, PPE expects its H1 FY26 normalised EBITDA, including the discontinued Health and Community operations, to be in the range of $15m to $16m. The company is well-positioned to execute its focused growth plan, with the divestment proceeds providing additional capital to support targeted market dominance, strategic accretive acquisitions, and operational excellence initiatives.

H1 FY26 normalised EBITDA range between $15m and $16m, including discontinued Health and Community operations.

PPE is focused on driving growth in key sectors such as infrastructure construction, defence and defence-industry, food services and agriculture, and professional services. The company plans to leverage its capital from the divestment to pursue targeted market dominance, strategic accretive acquisitions, and operational excellence initiatives.