Austin Engineering revenue falls to $329M in FY26
- Austin Engineering recorded a revenue drop to $329 million for FY26 alongside lower net profits.
- Operating cash flow surged to $26.7 million while net debt declined to $5.8 million.
- The group paused its final dividend to fund business reset efforts and support FY27 targets.
Mining equipment manufacturer Austin Engineering (ASX:ANG) reported a full-year 2026 revenue decrease to $329 million as operational adjustments reduced net profit after tax to $6.4 million.
The financial results compare to group revenue of $376.7 million and net profit after tax of $26.3 million delivered in the prior financial year.
"The issues we faced in FY26 were largely operational and within our control. While the pace of improvement was slower than anticipated, with some sales and deliveries being deferred into FY27, the corrective actions are now delivering visible progress in productivity, cost control, contract discipline and customer engagement," said Austin Engineering CEO and Managing Director Sy Van Dyk.
The company reduced its net debt to $5.8 million from $12.8 million and reported an order book of $132.9 million as of June 30.
Austin Engineering stated that underlying EBIT for the 2027 financial year is expected to land between $17 million and $21 million.
Following the announcement, the Austin Engineering share price was unchanged at $0.16.
The group designs and manufactures customised dump truck bodies, buckets, and ancillary products for global mining operations.
Management recently addressed operational issues across North America, South America, and Indonesia while renegotiating a loss-making legacy contract in Chile.
