GR Engineering details FY26 results, eyes to raise $110M

• GR Engineering Services launched an equity capital raising of up to $110 million alongside forecasting up to 72% revenue growth for FY27.
• The engineering firm announced an institutional placement of up to $100 million and a share purchase plan targeting up to $10 million.
• Proceeds from the capital raising will fund the execution of contracted projects and support potential future corporate acquisitions.

GR Engineering Services (ASX:GNG) has launched an equity raising of up to $100 million while projecting FY27 revenue to reach between $82 million and $850 million.

The company reported that over 90% of the upper end of its FY27 revenue forecast is already secured by contracted projects, compared to total FY26 revenue of $493 million.

The business noted that its FY26 financial performance delivered an EBITDA of $63.1 million while maintaining a consistent EBITDA margin.

GR Engineering Services detailed that the equity raising comprises an institutional placement of up to $100 million and a share purchase plan targeting $10 million, with both offers priced at $6.10 per share.

The company raised its final dividend to 13 cents per share, bringing total FY26 dividends to 25 cents per share fully franked.

Following the announcement, the GR Engineering Services share price was unchanged at $6.31.

The capital launch represents the first time the company has raised additional equity since completing its initial public offering in 2011.

The company stated that over 60% of its forecast FY27 revenue is set to be generated from commodities other than gold.