• Revenue increased by 13.7% reflecting the inclusion of Aqua Metro
• Adjusted EBITDA was $0.37m, after excluding $1.3m acquisition & integration costs
• Pipeline increased by 22.5% to $4.9b, with $787.8m currently under evaluation

Saunders International Ltd, a multidisciplinary engineering, construction and industrial asset services company, has released its H1 FY26 Investor Presentation. The key highlights include a 13.7% increase in revenue, reflecting the inclusion of Aqua Metro, and an adjusted EBITDA of $0.37m, after excluding $1.3m in acquisition and integration costs. The company's pipeline increased by 22.5% to $4.9b, with $787.8m currently under evaluation. Saunders has strengthened its position in the Defence and Water markets, securing major projects in these sectors, and is well-positioned to capture growth opportunities across its diversified business. The company's focus on long-term, multi-year panel and master services agreements is driving a higher-quality earnings profile and supporting annuity-style and recurring earnings. Saunders' diversification strategy has successfully delivered new market opportunities, including early contractor involvement (ECI), and increased its brand recognition as a service provider with multi-disciplinary capabilities.

Based on performance to date, FY2026 performance is expected to be in line with the earnings guidance provided at the AGM.

Saunders' $549m Work-In-Hand and $4.9b opportunity pipeline, of which $787.8m is currently under evaluation in the short to medium term, provide runway for long-term earnings resilience. The company's increasing exposure to niche, high-compliance critical infrastructure markets strengthens earnings resilience and reinforces high barriers to entry.