The Maas Group Holdings Ltd (ASX: MGH) share price is in focus after the company delivered record FY26 results, with underlying revenue jumping 27% to $1.26 billion and underlying EBITDA rising 37% to $300.3 million, in line with updated guidance.
Image source: Getty Images
What did Maas Group report?
- Underlying revenue: $1,263.8 million, up 27% on prior corresponding period (pcp)
- Underlying EBITDA: $300.3 million, up 37% on pcp, matching updated guidance
- Statutory NPAT: $136.1 million, up 89%
- Underlying NPAT: $123.4 million, up 57%
- Underlying EPS: 34.2 cents, up 51% on pcp
- Operating cashflow conversion: 93%
- No final dividend declared for FY26
What else do investors need to know?
Maas Group pushed forward with its new capital management framework, favouring share buybacks over dividends. The group invested $55.1 million in buybacks since February and is seeking shareholder approval to increase its buyback capacity to 20% of issued capital.
A major sale of the Construction Materials portfolio to Heidelberg Materials Australia, valued at up to $1.703 billion, remains on track to settle in October 2026. This move is expected to further strengthen Maas Group's balance sheet and provide additional options for future growth.
The group's electrical division stood out as a key growth driver, with $1.2 billion in external work in hand. The recently secured $855 million Firmus purchase order provides further visibility on earnings for FY27 and beyond.
What did Maas Group management say?
Wes Maas, Managing Director and CEO, said:
FY26 was a defining year for Maas Group. We delivered a record result, and importantly our continuing operations exceeded the guidance range confirming the quality of the business we are carrying into FY27.
What's next for Maas Group?
Maas Group expects strong revenue and profit growth from continuing operations into FY27, supported by its booming electrical manufacturing arm and a healthy pipeline of residential land settlements. Proceeds from the material sale are expected to provide extra firepower for earnings-accretive investment opportunities.
The company will shift to four reporting segments from FY27: Electrical, Residential Real Estate, Commercial Real Estate, and MGH Investments. The share buyback will remain in place, reflecting Maas Group's belief that its shares are trading below underlying value.
Maas Group share price snapshot
Over the past 12 months, Maas Group shares have risen 32%, outperforming the All Ordinaries Index (ASX: XAO), which has risen 1% over the same period.
