• Revenue increased by 31.4% to $4,293.3 million in FY26
• Underlying EBITA increased by 38.8% to $288.6 million
• Profit for the year was $153.4 million, up from $27.7 million in FY25
• Acquisition of Fredon Industries contributed to revenue and earnings growth
• Favourable market conditions supported strong earnings performance

NRW Holdings Ltd has released its annual financial statements for the year ended 30 June 2026. The company reported a 31.4% increase in revenue to $4,293.3 million, up from $3,267.7 million in FY25. This growth was primarily driven by the nine-month contribution from Fredon Industries, which was acquired on 7 October 2025, and the broader strength of NRW's diversified business model. The company experienced strong activity levels across the resources, infrastructure, and industrial sectors, supported by sustained demand for iron ore, coal, and gold-related projects, as well as continued investment in public and private infrastructure and data centers. Underlying earnings before interest, tax, depreciation, amortization of acquisition intangibles, and non-underlying transactions (Underlying EBITA) increased by 38.8% to $288.6 million, up from $207.9 million in FY25. The improvement in the Group's EBITA margin to 6.7% (FY25: 6.4%) reflected higher activity levels across the Group's operations, including a nine-month earnings contribution from Fredon, together with an improvement in the Group's EBITA margin. The Mining segment delivered a significant increase in profitability, benefiting from improved productivity and minimal disruption from adverse weather events. The Minerals, Energy & Technologies (MET) segment continued to deliver earnings growth through the successful execution of major projects, supported by strong contributions from the maintenance (DIAB) and products (RCR) businesses. Civil maintained resilient margins despite softer conditions in parts of the Queensland resources market and fuel cost pressures in the Civil Urban business as a result of the conflict in the Middle East. Depreciation and amortization increased by 7.9% to $197.6 million, primarily due to the inclusion of nine months of depreciation and amortization from Fredon since acquisition. Finance costs increased during the year, reflecting the additional debt drawn from the Group's corporate revolving credit facilities to fund the 100% debt-funded acquisition of Fredon. Underlying net profit after tax (NPAT) increased to $182.7 million, compared to $127.2 million in FY25.

Revenue expected to increase by 15-20% in FY27, driven by continued demand in key sectors

NRW Holdings Ltd anticipates continued strong demand in the resources, infrastructure, and industrial sectors, supporting further revenue and earnings growth in the coming year.