• Group revenue & other income up 20% to $10.2m
• Engineering EBITDA up 144% to $2.5m
• Powerhouse pipeline grows to $122m

Synertec Corporation Ltd has reported a strong trading performance in the first half of FY26, with group revenue and other income up 20% to $10.2m and engineering EBITDA increasing by 144% to $2.5m. The company's cost-out initiatives, including a $1.3m reduction in corporate overhead costs, have contributed to the EBITDA turnaround. Engineering services revenue grew by 20% due to increased utilization, while technology revenue improved by 22% as all Powerhouse units installed for Santos were operational during the period with no shutdowns or maintenance visits. The company also generated a net operating cash inflow of $0.5m, a $1.7m improvement on the prior corresponding period, marking the first time since FY19 that the group has achieved a positive net operating cash flow for a half-year period. Synertec's Powerhouse product strategy continues to progress, with the company now capable of delivering up to 500 units per year. The company has also secured a significant contract with TasNetworks to deploy six Powerhouse community batteries across the Tasmanian distribution network, further validating the technology's capabilities. In the engineering business, the company has seen a 20% increase in revenue and a circa $135m opportunity pipeline, including $44m in tenders submitted. Strategic investments in engineering panels have started to deliver returns, with the company securing over $7m in awards to date.

Synertec expects to continue the positive momentum in its Powerhouse business, with the pipeline of qualified opportunities reaching $122m. The company is also well-positioned to capitalize on its growing engineering opportunity pipeline and panel arrangements.

Synertec is excited about the future prospects for both its Powerhouse and engineering businesses. The company is ready to deliver its Powerhouse product at scale, quality, and price point required by customers, and its engineering business is benefiting from a clear strategy and focused management oversight.