The Duratec Ltd (ASX: DUR) share price is in focus today after the company reported a record order book of $650.8 million, up 67% on last year, and a record normalised EBITDA of $58.5 million, up 10.5% on FY25.
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What did Duratec report?
- Order book reached a new high of $650.8 million (up 67% year-on-year)
- Revenue of $570.3 million, steady compared to FY25
- Normalised EBITDA increased 10.5% to $58.5 million, with EBITDA margin up to 10.3%
- Net Profit After Tax rose 4.1% to $23.8 million
- Final fully franked dividend declared at 2.5 cents per share, total for FY26 at 4.25 cents
- Strong cash position of $78.8 million at 30 June 2026
What else do investors need to know?
Duratec delivered growth across several business areas, especially in Building & Facade, which achieved record revenue and margin improvements. Its Energy segment also expanded via acquisitions and strong project delivery, including international work in Papua New Guinea. The Defence, Mining & Industrial, and Emerging Sectors businesses reported strong pipelines and improved gross margins, despite some revenue variation due to project timing.
The company further broadened its portfolio with targeted acquisitions, growing expertise in technical advisory, asset integrity and new-build facade construction. Notably, Duratec's equity interest in DDR Australia helped ramp up indigenous employment and supply chain participation, supporting long-term social and commercial outcomes.
What did Duratec management say?
Duratec's Managing Director, Chris Oates, said:
FY26 was another year of solid operational performance for Duratec. While revenue was broadly in line with the prior year, we delivered record EBITDA, NPAT and EBITDA margin through disciplined project selection, strong project execution and the continued expansion of our self-perform capability
During the year we continued to strengthen the Group through targeted acquisitions, enhancing our capability across fuel infrastructure, asset integrity, specialist coatings, fabrication, engineering and decommissioning. These investments broaden our participation across the asset lifecycle and position Duratec to capture a larger share of growing maintenance, integrity and sustainment markets.
Importantly, we enter FY27 with a record order book of $650.8m, reflecting a number of strategically significant projects secured during FY26 now progressing into delivery, a diversified pipeline of opportunities and a strong balance sheet. Combined with increasing recurring revenue through Master Service Agreements and annuity-style contracts, we believe Duratec is well positioned to capitalise on opportunities across its key markets and continue creating long-term value for shareholders.
What's next for Duratec?
Looking ahead, Duratec enters FY27 with a record work pipeline and high recurring revenue streams supporting a resilient earnings outlook. Key projects—such as the HMAS Stirling Diamantina Wharf upgrade, mining maintenance, and decommissioning contracts in Australia and PNG—will drive activity in the coming year.
Management remains positive on demand across core sectors, with favourable long-term conditions expected in Defence, Energy, mining asset remediation, and infrastructure upgrades. The company's growing role in the asset lifecycle, plus new and recurring client agreements, puts it in a strong position for sustainable growth and value creation.
Duratec Limited share price snapshot
Over the past 12 months, Duratec shares have risen 44%, outperforming the All Ordinaries Index (ASX: XAO), which has risen 1% over the same period.
