Mining and civil contractor Macmahon says a strong contribution from its civil infrastructure business and continued underground mining expansion helped it increase fiscal 2026 first-half revenue 11% year-on-year to A$1.3 billion.
EBITDA also climbed 10% to $200.1 million in the latest period while net profit was up 61% yoy at $48.2 million.
Macmahon CEO Michael Finnegan said the company saw benefits from its acquisition and organic growth strategy, including the $127 million buyout of Decmil Group in 2024 that underpinned a surge in its civil infrastructure revenue past $300 million in the six months to the end of December 2025.
Mining meanwhile generated about $1 billion in H1 revenue and underlying EBITA of $75 million at a 7.5% margin.
Macmahon is guiding for FY26 revenue of $2.6-2.8 billion and underlying EBITA of $180-195 million. Targeted FY26 capital expenditure remains at $245 million.
It says FY26 second half performance is expected to be stronger than the first half with current orders at $5.1 billion and a “robust and qualified tender pipeline of $25.6 billion”. Half the work in that pipeline is expected to be awarded in the next 12 months.
“We are focused on further diversifying our business through organic means and accretive acquisitions that enable us to expand our service offering across the resources sector,” Finnegan said.
Macmahon lowered net debt 11% to $144.1 million in the first half of FY26. It had cash on hand of $282.1 million and $538.8 million available with unutilised bank facilities, providing “headroom for growth opportunities”.
The ASX-listed company’s share price has traded 16% higher this year, capitalising Macmahon at about $1.68 billion.
