The Maas Group Holdings Ltd (ASX: MGH) share price is in focus after announcing an $855 million electrical infrastructure contract and upgrading its FY26 underlying EBITDA guidance to $300–$310 million.
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What did Maas report?
- Secured a new $855 million modular electrical infrastructure contract for Firmus, to be delivered over 18 months
- Total electrical infrastructure work in hand now exceeds $1.2 billion
- FY26 Group underlying EBITDA guidance raised to $300–$310 million
- EBITDA from continuing operations (excluding construction materials/Firmus revaluation): $130–$135 million
- Further strategic investment in Firmus of $300 million, increasing its shareholding
What else do investors need to know?
Maas Group Holdings has increased its stake in Firmus Grid Limited, acquiring an additional $300 million of shares and preference shares. This brings the company's total investment in Firmus to $410 million, reflecting an approximate 3.2% stake on a fully diluted basis.
The sale of Maas Group's construction materials business to Heidelberg Materials Australia is expected to settle by October 2026, with up to $1.7 billion in proceeds (subject to purchase adjustments and milestones). MGH is focusing on redirecting capital from the sale into new infrastructure opportunities, particularly around AI and data infrastructure via its JLE Group subsidiary.
What did Maas management say?
Chief Executive Officer Wes Maas said:
Today's update reflects the underlying momentum in our continuing businesses – particularly across electrical, residential and commercial real estate.
The new electrical infrastructure work orders will underpin continued strong growth in a key segment of our business. As well as a strong endorsement our technical and delivery capability, this work order to be delivered over the next 18 months strengthens the Group's position as partner-of-choice in the development of next-generation AI and data infrastructure in Australia. With a significant tender pipeline and the ongoing progression of other opportunities within Firmus's proposed 3.3GW Australian AI factory roll-out, we anticipate we will provide further updates as appropriate as further work is secured.
The Firmus investment is creating substantial value and supports our long-term strategy to participate in the development and delivery of digital infrastructure assets.
Following the ACCC's recent clearance of the sale of our construction materials business to Heidelberg Materials, a key milestone towards completion, we remain focused on the disciplined redeployment of capital into the next generation of infrastructure.
What's next for Maas?
MGH expects to continue supporting the roll-out of next-generation AI facilities, with a strong tender pipeline for additional electrical and digital infrastructure projects. The group aims to redeploy capital from the construction materials sale to further its focus on long-term digital infrastructure and related growth.
Audited full-year FY26 financial results are due to be announced on 20 August 2026. Further updates are expected as new work is secured, particularly related to opportunities with Firmus and other data infrastructure projects.
Maas share price snapshot
Over the past 12 months, Maas shares have risen 30%, outperforming the All Ordinaries Index (ASX: XAO), which has risen 4% over the same period.
