The Monadelphous Group Ltd (ASX: MND) share price is in focus after the ASX engineering group reported record half-year revenue of $1.53 billion, up 45.6%, with net profit after tax jumping 52.6% to $64.9 million. The Board declared an interim dividend of 49 cents per share, fully franked.
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What did Monadelphous report?
- Revenue: $1.53 billion, up 45.6% on the prior period
- EBITDA: $116.2 million, up 45.6%
- Net profit after tax (NPAT): $64.9 million, up 52.6%
- Earnings per share: 65.2 cents
- Interim dividend: 49 cents per share, fully franked
- Cash balance: $322 million at period end
- Secured $1.4 billion in new contracts and extensions since 1 July 2025
What else do investors need to know?
Monadelphous saw strong activity across both its Engineering Construction and Maintenance and Industrial Services divisions. Construction revenue rose 67%, supported by service expansion and larger projects in renewables through Zenviron. Maintenance services revenue grew 32.1%, driven by higher energy sector activity and continued strong iron ore demand.
The company made three strategic acquisitions during the half: Kerman Contracting, Australian Power Industry Partners, and High Energy Service, further expanding its service offering in non-process infrastructure and high-voltage solutions. A robust cash flow from operations of $171.1 million delivered a cash flow conversion rate of 186%.
What did Monadelphous management say?
Managing Director Zoran Bebic said:
Long-term demand in the resources and energy sectors is expected to continue, supported by an improved global economic growth outlook. Continued investment in new and existing operations in Western Australia's iron ore sector is driving demand for both maintenance and construction services, with the energy sector to offer substantial prospects. The outlook for energy transition metals is strengthening, and Australia's Net Zero emissions objective continues to drive long-term investment in energy generation, storage and transmission infrastructure. Leveraging its broad services capability, Monadelphous is well positioned to capitalise on the growing pipeline of opportunities.
What's next for Monadelphous?
Monadelphous is forecasting full-year FY26 revenue to be about 30% higher than last year, with operating margins consistent with this half. Its $1.4 billion contract book and recent acquisitions put the company in a strong position for continued growth, especially in energy transition, infrastructure, and renewables.
The company remains focused on delivering quality earnings, maintaining disciplined risk management, and building on its collaborative customer relationships to support long-term sustainability and shareholder value. Monadelphous aims to support the decarbonisation of the resources and energy sectors, leveraging its growing capabilities and new strategic footholds.
Monadelphous share price snapshot
Over the past 12 months, the Monadelphous Group shares have risen 90%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 9% over the same period.
