Macmahon Holdings CEO Michael Finnegan remains confident in the contractor’s big projected FY2027 revenue uplift to A$2.85-3.05 billion, after posting a record FY26 result, with its $1.5 billion of new work won since the start of the current fiscal year indicative of robust market undercurrents.
“The company has entered FY27 with a healthy balance sheet and positive earnings momentum underpinned by a robust order book of $5.9 billion, including $2.2 billion already secured for FY27,” Finnegan told shareholders at the company’s annual general meeting in Perth, Western Australia.
“The $25 billion tender pipeline coming into the year provides a clear, longer-term pathway to deliver continued growth in earnings and cash flow.”
Finnegan said Macmahon had a strong balance sheet, with net debt below levels reached before it acquired Decmil for $127 million in 2024.
“Continued growth in our underground and civil businesses supported further growth in key metrics including return on average capital employed which was 22% for FY26, and tracking well towards our long-term target of 25%.
“Growth is continuing to accelerate in underground with several new work awards with both existing and new clients.
“Free cash flow of $103.1 million remained strong for FY26.”
Macmahon chair Greg Evans said the company’s plus-$2 billion market capitalisation and inclusion in the ASX300 Index recognised its consistent earnings growth.
“We intend to build on the platform we’ve created and continue the momentum,” he said.
