Civmec posts 75% profit boost to $18.4M
Key points
- Civmec recorded first-quarter revenue of $324 million, representing a 70% increase compared to the same period last year.
- Civmec shares traded flat at $1.63 following the earnings announcement.
- A massive expansion in construction division activity and new project wins expanded the order book to $1.4 billion.
Engineering company Civmec (ASX:CVL) generated $324 million in revenue during the first quarter to FY27, up 70% from $190.4 million recorded in Q1 FY26.
Net profit after tax rose 75% to $18.4 million compared to $10.5 million in the prior corresponding period.
“Strong contributions from our resources, energy, infrastructure and defence work, together with new awards such as the Wagerup Gallium Project, give us a solid platform for the year ahead,” said Civmec Chairman James Fitzgerald.
The order book reached approximately $1.4 billion following recent deal wins, including a construction contract award for the Wagerup Gallium project.
Management noted that ongoing tender activity remains robust across resources, energy, infrastructure, marine, and defence sectors.
Following the announcement, the Civmec share price was unchanged at $1.63.
The Australian engineering firm operates major West Coast and East Coast facilities to provide construction and maintenance services.
