• Revenue of $174.5 million
• EBITDA of $29.6 million
• NPAT of $18.3 million
• Increased project delivery volume expected in H2 FY26
• Interim dividend of 22 cents per share

Lycopodium Limited, a global leader in integrated engineering, project, construction and asset management, has released its financial results for the half year ended 31 December 2025 ('1H FY26'). The company generated revenue of $174.5 million, reflecting a high volume of project delivery activity. Net profit after tax (NPAT) was $18.3 million, delivering an NPAT margin of 10.5%, closer to the company's normalised 10% longer-term target. Lycopodium's global portfolio of work continued to grow throughout the first half, with the value of committed contracts reaching $415 million and the revenue opportunity pipeline expanding to ~$1.3 billion. The company has also declared a fully franked interim dividend of 22 cents per share, payable on 2 April 2026. During the first half, Lycopodium successfully commissioned and completed several major projects, including the Ahafo North Project in Ghana, the Chemical Grade Processing Plant #3 Project in Western Australia, the Boto Gold Project in Senegal, and the Bomboré Hardrock Stage 1 Project in Burkina Faso. The company continues to safely manage the delivery of a significant number of projects globally, recording 11.3 million workhours over the 12-month period to 31 January and achieving a Lost Time Injury Frequency Rate (LTIFR) of just 0.09. Lycopodium's strong studies pipeline is also continuing to transition into Front End Engineering and Design (FEED) opportunities, with the award of significant FEED scope over the past six months. The company's geographic expansion into the Americas is a catalyst for new project opportunities, and it is continuing to invest in and grow capacity and capability across its three operational hubs of Asia-Pacific, the Americas, and Africa.

Revenue of $370 - $410 million and Net profit after tax (NPAT) of $37 - $41 million for FY2026, reflecting the company's long-term ~10% NPAT margin target. The increased volume of project delivery work through the balance of the financial year is expected to result in both elevated revenue and NPAT contributions in H2 FY26, beyond recent years.

Overall demand drivers for Lycopodium's innovative engineering and delivery capabilities remain strong, supported by the company's bespoke and modular engineering expertise. The geographic expansion into the Americas is a catalyst for new project opportunities, and Lycopodium is recognized as an expert in the delivery of projects across commodities where the forward outlook is positive, including gold, copper, critical minerals, lithium, and uranium.