• Engineering business strengthens performance, remains profitable and cash positive
• Powerhouse delivers continued operational excellence, expands contracted asset base, and secures additional tier-one energy customer
• Focused on converting near-term Powerhouse opportunities, advancing commercial opportunities, and leveraging supply-chain partnerships

Synertec Corporation Ltd reported its FY26 H1 financial results, with the Engineering business strengthening its performance and remaining profitable and cash positive. Revenue in Engineering for the Period was $8.9 million, with over 85% of revenue from consulting projects versus fixed price assignments. The 3 Powerhouse assets commercialised with Santos Limited contributed $1.2 million of revenue. Normalised EBITDA before R&D activities, which excludes the effects of non-operating and non-recurring items and R&D costs, was a Group loss of $0.8 million. Powerhouse delivered continued operational excellence, expanded its contracted asset base, secured an additional tier-one energy customer, and progressed its manufacturing and supply chain scalability strategy. During FY26 1H, installed Powerhouse units generated revenue of $1.2 million at EBITDA margins exceeding 90%. The company is focused on converting near-term Powerhouse opportunities into contracted revenue, advancing commercial opportunities to deploy its Powerhouse IP into adjacent and emerging markets, and leveraging supply-chain partnerships established in the prior financial year to deliver material cost efficiencies and enhance supply resilience. The company is also continuing to progress its Engineering growth strategy by targeting and securing long-term contracts with Government agencies and major infrastructure clients, while maintaining disciplined resource utilisation and overhead management.

The company expects revenue contribution from Powerhouse to increase in FY26 H2 following deployment of additional units currently under construction. The underlying 15-year asset life supports long-duration revenue visibility once deployed.

Synertec is focused on prioritising the conversion of near-term Powerhouse opportunities into contracted revenue, advancing commercial opportunities to deploy its Powerhouse IP into adjacent and emerging markets, and leveraging supply-chain partnerships to deliver material cost efficiencies and enhance supply resilience. The company is also continuing to progress its Engineering growth strategy by targeting and securing long-term contracts with Government agencies and major infrastructure clients, while maintaining disciplined resource utilisation and overhead management.