• Revenue decreased 31.8% to $26.9m
• Net loss of $9.4m compared to $1.0m profit in prior period
• Secured new $33m financing facility with NAB

Matrix Composites & Engineering Ltd reported a 31.8% decrease in revenue to $26.9m for the first half of FY2026, compared to the prior corresponding period. This resulted in an EBITDAF loss of $4.1m (Dec 2024: $3.2m profit) and a net loss after tax of $9.4m (Dec 2024: $1.0m profit). The lower first half revenue was primarily due to the timing of major project deliveries, with the bulk of revenue expected in the second half. The company's order book and client delivery timelines indicate full year revenue will be similar or higher than the $75m recorded last year. Matrix continues to focus on leveraging its scale and track record in deepwater buoyancy for the subsea market, as well as diversifying into new sectors such as offshore wind, subsea mining, and the local resources and defence industries. The company has secured a new $33m financing facility with National Australia Bank, including a $7.5m corporate market loan, $5m in working capital financing, and $20.5m (50% cash backed) for bank guarantees.