Daily Roundup

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Aussie Broadband is making significant strides with its acquisition strategy. The company has completed its purchase of AGL Energy's telecommunications business, bringing 350,000 NBN services and mobile connections into the fold. The migration of these customers is slated for Q2 FY27 and is expected to generate $21 million in underlying EBITDA within the first 12 months post-migration. Meanwhile, the company's integration of More and Tangerine Telecom customers remains on track for completion by June 2026, with those migrations forecast to deliver $12 million in annualized underlying EBITDA from FY27 onwards. For the current financial year, Aussie Broadband is guiding for earnings in the middle of the $162 million to $167 million range, with capital expenditure expected at the upper end of $55 million to $60 million.

Southern Cross Electrical Engineering is firing on all cylinders. The company has secured over $150 million in new works awards, including initial electrical and communications work for a major data centre project and switchboard orders. This strong pipeline has prompted the company to raise its underlying FY26 EBITDA guidance to at least $75 million, with an even more ambitious forecast of at least $100 million for FY27. To support this growth trajectory, the company is launching a fully underwritten institutional placement to raise $150 million, complemented by a non-underwritten share purchase plan targeting up to $15 million. The company has also bolstered its financing facilities and strengthened its executive leadership team. Trading in the company's shares has been halted pending the announcement of equity raising results, with trading expected to resume on 16 June 2026.

Electro Optic Systems is capitalizing on heightened global demand for its defence and security products. The company reports elevated enquiry levels across its Remote Weapon Systems, High Energy Laser Weapons, and command and control systems. EOS has landed a substantial £85 million contract with a Middle Eastern customer and secured a $5 million order from L3Harris for a counter-drone weapon system. The company is set to showcase its combined EOS and MARSS business at the Eurosatory Defence and Security Exhibition in Paris, with MARSS operations now headquartered in Nice, France. For 2026, EOS is guiding for full-year revenue of $240 million to $270 million for its base business, though the company is still assessing revenue recognition timing for MARSS contracts and plans to provide a further update within two months.

GR Engineering Services has won a $233 million engineering, procurement, and construction contract with Ora Banda Mining for a 3.0 million tonne per annum process plant as part of the Davyhurst Expansion Project. The award validates the company's process design expertise and EPC delivery capabilities, and is expected to bolster its contracted pipeline for FY27 and FY28.

On the M&A front, Frasers Group is making a move on Accent Group. The UK-based retailer, which already owns approximately 22.9% of Accent Group, is launching an on-market takeover bid at A$0.65 per share. The bid period runs from 30 June to 30 July 2026, with a total offer value of approximately A$448 million. Frasers has expressed concerns about Accent's recent financial performance and strategic direction under current management, citing these issues as motivation for the acquisition attempt.