Perenti’s record $3.5b year

Perenti has reported $333m in underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) and a 4% revenue increase for FY25. 

Underlying EBITDA rose 6%, lifting margins to 9.6%, while underlying net-profit after tax (NPAT) increased 8% to $178m and statutory NPAT rose 29% to $137.8m with a normalised free cash flow of $195m. 

Perenti chief executive and managing director Mark Norwell says the company is pleased to report another year of positive performance, achieving record revenue and EBITDA. 

“Perenti’s strengthened EBITDA margin demonstrates our commitment to financial discipline across the business,” he said. 

“The record free cash flow and underlying NPAT reflect our ability to generate sustainable value for our shareholders and consequently an increased final dividend of .425 cents per share has been declared.” 

During FY25, Perenti progressed on safety and operational consistency, underlined by a more selective tendering approach and improved systems for reducing risk and driving reliability. 

“This work has been important in strengthening our approach to contracting, reducing risk, and ultimately driving greater consistency in the business, delivering improved business performance, year on year,” Mr Norwell said. 

“The FY25 results are another demonstration of the resilient and consistent returns that Perenti can deliver, even through the inevitable fluctuations in commodity prices and market cycles.” 

Free cashflow was bolstered by the sale of equipment and inventory following the conclusion of an underground project in Botswana to $286.1m. 

“The key to our resilience and performance comes from building a portfolio of global mining service businesses of scale,” Mr Norwell said. 

Looking ahead to FY26, the company has $6.5b of current work in hand, reflecting the award of more than $4b worth of contracts in FY25, and a project pipeline totalling $17.4b.  

Guidance for FY26 indicates revenue between $3.45–3.65b, EBITA of $335–355m, net capital expenditure of about $340m and free cashflow of more than $160m.