Macmahon hits high gear with strong H1 FY26 growth

Macmahon Holdings (ASX:MAH) announced a robust set of financial results for the first half of the 2026 fiscal year, signaling a successful execution of its strategic diversification into underground mining and civil infrastructure.

For the six-month period ended Dec. 31, 2025, the company reported a revenue of $1.3 billion, an 11% increase over the previous year, while its reported net profit after tax grew 61% to $48.2 million.

Managing Director and CEO Michael Finnegan attributed the "solid increases across key financial performance metrics" to the company’s capital discipline and its expansion beyond traditional surface mining.

EBITDA rose 10% to $200.1 million, bolstered by a strengthened balance sheet.

Macmahon reduced its net debt by 11% to $144.1 million, bringing its gearing ratio down to a conservative 16.8%.

The board has declared an interim dividend of 0.95 cents per share, representing a substantial 73% jump for shareholders compared to H1 FY25.

While the company's order book saw a slight dip to $5.1 billion, the pipeline remains massive at $25.6 billion, with half of those projects expected to be awarded within the next year.

Macmahon has reaffirmed its full-year guidance, projecting annual revenue between $2.6 billion and $2.8 billion as it remains on track to hit its long-term return on average capital employed target of 25%.