- Search
-
- What we do
![]()
- Work with us
- Investors
Search
The 2025 financial year has been historic for the Symal Group Limited (“Symal”), completing our first year as an ASX-listed business. Symal’s financial performance has been outstanding, recording a normalised EBITDA of $106.1 million¹, exceeding the guidance in our Prospectus of $102.3 million.
As we turn to FY26, we start in a strong position, with work in hand of $1.76 billion² , enhanced by a robust pipeline of both organic and acquisition-led opportunities.
This positions us well for sustained, profitable growth in the years ahead.
Symal delivers through an integrated business model that combines contracting, plant and equipment, and strategic services. This model improves efficiency, certainty and innovation for clients. It also creates commercial and reputational value across resilient end markets including infrastructure, power and renewables, data centres, defence and community projects, while positioning the Group for long-term growth.
Our self-performing capabilities within the Group remain key success factors for our secured pipeline, disciplined execution, and value creation compared to our peers.
Coupled with our focus on innovation and sustainable practices, our self-performing value proposition delivers consistent operational and commercial results to our clients and Group stakeholders.
Material wins for the year which I’d like to call out include the securing of a further package of work under Victoria’s Big Build program managed by Major Roads Victoria Projects, the Civil Balance of Plant scope at Queensland’s Gawara Baya Wind Farm Project, and the award of the Complete Civil Works package for the Moonee Valley Racecourse Redevelopment Project; which was secured off the back of a successful Early Contractor Involvement (ECI) process.
In terms of strategic wins for the Group, Gawara Baya executes on our national expansion priorities and provides further evidence of our quality reputation in the renewable energy sector. In addition, Symal’s First Nation’s joint venture partner Wamarra secured a $40 million Head Contractor contract with the Department for Defence.
FY25 also marked the establishment of a strong corporate foundation. We implemented a disciplined capital allocation framework, ensured appropriate enterprise risk controls, and demonstrated our ability to convert profits into cash, reflecting disciplined financial management and operational excellence.
We are proud of the governance structures we’ve implemented, including appointing an experienced and complementary Board of Directors with deep strategic and financial expertise. The Board has set clear principles to guide decision-making and ensure accountability as we deliver upon our growth strategy.
The Group has a strong safety record underpinned by a deeply embedded commitment to the safety and wellbeing of our staff, contractors, partners and customers. We are pleased to note that we recorded a Lost Time Injury Frequency Rate of only 0.40. FY25 from a total of 5 million worked hours. Building on this successful foundation is a key priority of the Board moving forward.
Symal delivered normalised NPAT of $45.7 million, outperforming our Pro Forma Prospectus expectations and highlighting our ability to deliver on our shareholders’ expectations.
As a result, and consistent with the Prospectus expectations, the Board is pleased to declare a fully franked dividend for FY25 of 5.9 cps (a total capital return of $13.9 million) in line with the approach outlined in our Prospectus³.
Looking forward, our policy will be to maintain a dividend of 30-50% of Group NPAT, striking the right balance between investing for growth and providing sustainable long-term shareholder returns.
We closed the year with a net cash position of $46.1 million. Maintaining a strong balance sheet is a priority for the Board to ensure that Symal maintains the platform to deliver on our growth strategy.
Notwithstanding some macroeconomic uncertainty faced throughout the year, Symal has remained resilient. This strength is underpinned by our founder-led energy and deep sector knowledge, supported by long-standing client relationships and delivery of consistent cash flow from our operations. Our resilience reinforces our commitment to delivering quality work through relationships built on trust and responsible business practices.
As we look ahead, our focus remains on delivering shareholder value through continued investment in our people, capability, and strategic opportunities, while maintaining the capital discipline and governance that will underpin our success in the listed environment.
On behalf of the Board, I would like to thank our shareholders for their trust and support and our people for their unwavering commitment to delivering quality outcomes throughout this transformative year. Together, we look forward to sharing our growth and delivery achievements with you in FY26 and beyond.
Read Symal’s full FY25 annual report.
Peter Richards
Chair - Symal Group
1. Normalised results include pro forma adjustments for IPO impacts, pre-acquisition Sycle earnings and normalisation adjustments for a historical commercial claim which resulted in one-off profits in FY24. Refer to “Statutory to normalised results reconciliation” slide in the appendix for the accompanying FY25 results presentation.
2. Represents estimated aggregate value of contracted yet-to-be completed projects as at 30 June 2025 plus minimum guaranteed revenue of $230m with the Locale Civil acquisition.
3. Representing 50% of pro rata (21 November-30 June) normalised NPAT
