Macmahon Holdings has delivered a record result for the 2025-26 financial year (FY26), with revenue increasing 8 per cent to $2.6 billion as growth across its underground mining and civil infrastructure businesses drove higher earnings.
Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) increased 2 per cent to $393.8 million, while underlying earnings rose 11 per cent to $190.1 million. Underlying net profit after tax increased 12 per cent to $114.8 million, while statutory net profit rose 37 per cent to $101.1 million.
Macmahon said all business segments contributed positively to the result, supported by contract delivery, new project wins and continued growth across its mining businesses.
The company’s mining operations generated $1.93 billion in revenue and underlying earnings of $157 million at a 8.1 per cent margin.
Surface Mining secured several major contracts during the year, including a $792 million three-year extension at Byerwen, while Underground Mining won more than $1 billion in new contracts across Australia and Indonesia.
Underground Mining also secured contracts at Mt Marion, Snowy River in New Zealand, Majestic, Toka Tinding and Kucing Liar in Indonesia, among other projects.
Macmahon managing director and chief executive officer Michael Finnegan said the company had continued to diversify its operations and expand its addressable market.
“Our Surface Mining business was again a strong contributor, with several significant contract extensions and new wins during the year,” Finnegan said in a statement.
“Underground Mining demonstrated strong growth, securing over a billion dollars in new contracts in Australia and Indonesia.”
Macmahon entered FY27 with an order book of $5.9 billion, including $2.2 billion of secured work for the year, while its tender pipeline has increased to $25 billion.
The company reduced net debt by 31.6 per cent to $111.1 million at 30 June 2026, while available liquidity increased to $566 million.
Macmahon also increased its total FY26 dividend by 47 per cent to 2.20 cents per share, including a fully franked final dividend of 1.25 cents per share.
Looking ahead, the company expects revenue of $2.85 billion to $3.05 billion in FY27.
Macmahon said its exposure to gold, copper and lithium, alongside ongoing activity in iron ore and coal, supported its growth outlook as the company continues to expand its mining and civil infrastructure operations.
