Metro Performance Glass delivers FY26 financial turnaround
Metro Performance Glass (ASX:MPP) announced a financial turnaround in its audited financial results for the 12 months ended March 31.
The group reset its capital structure through a $23.9 million equity raise and refinancing initiative in September 2025.
The restructuring led to a dramatic reduction in net debt, which plummeted from $60.5 million to $27 million, whilst operating cash flow rose to $15.7 million from just $2.1 million in FY25.
While weaker construction markets—particularly in New Zealand residential sectors and Victoria, Australia—caused group revenue to dip 2.7% to $208.2 million, underlying profitability metrics showed robust gains.
EBITDA before significant items increased to $18.2 million, up from $16.9 million the previous year, driven by rigorous cost-reduction initiatives and enhanced manufacturing performance.
Furthermore, EBIT before significant items rebounded to a positive $0.9 million, recovering from a loss of $0.6 million in FY25.
The New Zealand division achieved record levels in quality and processing efficiency.
Meanwhile, Australian operations transitioned to a full import model following the closure of Oceania Glass.
Management expects continued improvements in cash flow and profitability driven by restructuring benefits, though formal FY27 earnings guidance has been withheld due to ongoing market uncertainty.
