• Revenue up 19.5% to $2.0 billion
• Underlying EBITA up 36.4% to $132.3 million
• Strong order book of $7.5 billion, including repeat business

NRW Holdings Ltd has reported a strong set of financial results for the first half of FY26. Revenue increased by 19.5% to $2.0 billion, while underlying EBITA grew by 36.4% to $132.3 million and underlying NPAT was up 42.3% to $83.1 million. The company's cash holdings stood at $342.4 million, with a cash conversion rate of 114.1%. NRW's order book remains strong at $7.5 billion, including a significant amount of repeat business, and the company has a pipeline of $25.2 billion in active tenders. The company also declared a fully franked interim dividend of 8.5 cents per share, up 21.4% on the prior comparative period. Key drivers of the company's performance included strong results in the Civil, Mining, and Minerals, Energy & Technology (MET) divisions, as well as the successful integration of the recently acquired Fredon Industries. Looking ahead, the company has increased its FY26 underlying EBITA guidance to between $275 million and $285 million, up from the previous range of $260 million to $265 million.

Full-year revenue is increased to between $4.1 billion - $4.2 billion from circa $4.1 billion. Underlying EBITA is increased to between $275 million - $285 million from between $260 million - $265 million. Cash conversion consistent with long-term averages.

The outlook remains strong for the enlarged group, with continued strong growth to be delivered in FY27 underpinned by a growing group pipeline currently at $25.2 billion, current active tenders of $9.2 billion, and $7.5 billion of work in hand.