Yesterday, PWR Holdings Ltd (ASX: PWH) reported record group revenue of $170.7 million, up 31%, and statutory NPAT of $17.9 million, up 83.2% for FY26.
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What did PWR Holdings report?
- Revenue: $170.7 million, up 31.2% on the prior year
- Statutory NPAT: $17.9 million, up 83.2%
- EBITDA: $40.7 million, up 59.6%
- NPAT margin: 10.5%, up by 3 percentage points
- Final dividend: 5.0 cents per share, up from 2.0 cps
- Cash conversion: 104.9%, with free cash flow of $10.6 million
What else do investors need to know?
PWR delivered strong top-line growth, driven mainly by Motorsports (up 45%) and Aerospace & Defence (up 31%). Operating leverage improved, with margin expansion as the newly completed Stapylton facility enabled greater volumes and efficiency.
The company finalised its Australian factory move and invested in capability upgrades, including entry into the European market with a new Poland facility due to open in FY27. The Aerospace & Defence order book surged to $40 million, with PWR securing a follow-on US Government contract.
PWR continues to scale its engineering and production teams, now employing over 700 people globally. Investment in research and development grew to $14.9 million, supporting next-generation cooling technologies.
What did PWR Holdings management say?
Chief Executive Officer Sharyn Williams said:
Our record results reflect the strength of our technology and the dedication of our people. The momentum in Aerospace & Defence demonstrates the success of our strategic investments, and our new European base positions us well for further international growth.
What's next for PWR Holdings?
Looking ahead, PWR expects its higher revenue baseline to be maintained in FY27, with Aerospace & Defence as the main growth driver. A phased start-up of the new Poland facility will support the company's ambitions in the expanding European defence market, with FY27 investment and start-up costs expected to reduce NPAT by less than $1 million.
The board expects margin recovery to continue, aiming for a 2% statutory NPAT margin improvement in FY27. Growth is likely to be supported by greater automation, improved product mix, and expansion in both global motorsports and aerospace sectors.
PWR Holdings share price snapshot
Over the past 12 months, PWR Holdings shares have risen 26%, outperforming the All Ordinaries Index (ASX: XAO), which is flat over the same period.
