Key points
- Record EBIT(A) of $340 million, up 2% from FY25
- Improved EBIT(A) margin to 9.8%, driven by Contract Mining
- Adjusted free cash flow of $181.6 million, exceeding FY26 guidance
- Final dividend of 4.50cps declared, total dividends increased by 7% from FY25
- Portfolio transition shifts exposure from Africa to Australia and North America
Full summary
Perenti Ltd's FY26 results presentation highlights a record EBIT(A) of $340 million, up 2% from FY25, driven by an improved EBIT(A) margin of 9.8%. The company's Contract Mining division contributed strongly to the overall group performance, with EBIT(A) margin improvement to 12.0%. Drilling Services also performed well, with record revenue and earnings. The company's balance sheet remains strong, with leverage reduced to 0.4x. Adjusted free cash flow of $181.6 million exceeds FY26 guidance. The final dividend of 4.50cps was declared, increasing total dividends by 7% from FY25. The portfolio transition continues, shifting exposure from Africa to Australia and North America.
Guidance
Record EBIT(A) of $340 million, improved EBIT(A) margin to 9.8%, adjusted free cash flow of $181.6 million
Outlook
Perenti Ltd expects to continue improving EBIT(A) margin and earnings quality, driven by consistent performance from Contract Mining and improved Drilling Services utilisation. The company also plans to recycle ~$150 million from the sale of AMS fleet and divestment of BTP towards higher return opportunities.