Alfabs Australia trims net debt to $35.5M
- Alfabs Australia generated $2.4 million in free cash flow and reduced net debt by 3% to $35.5 million during Q1 FY27.
- Following the announcement, the Alfabs Australia share price was unchanged at $0.22.
- The company stated that the performance continues a strategic focus on cash generation, capital allocation, and balance sheet strength.
Alfabs Australia (ASX:AAL) reported $2.4 million in free cash flow and reduced its net debt by 3% to $35.5 million for the quarter ended Sept. 30.
The quarterly operational result compares to a net debt balance of $36.6 million at the end of FY26 and $24.6 million in 1Q FY26.
"FY26 was a year of transition with the business being reset around cash generation, disciplined capital allocation and balance sheet strength," said Alfabs Australia.
The mining division increased average daily hire rates by 6.3% quarter-on-quarter to $86.5k per day, while contracted work in hand for the engineering division stood at $11.9 million.
Following the announcement, the Alfabs Australia share price was unchanged at $0.22.
The industrial services provider completed debt refinancing activities and finished the St Mary’s Train Station Upgrade project during the quarter.
Alfabs Australia also secured 12-month hires for both its Continuous Miner CM04 and AX-10 Loader equipment.
