SHAPE Australia secures $504.6M in quarterly projects

SHAPE Australia (ASX:SHA) secured $504.6 million in project wins during the first quarter of FY27, up from $336 million in the prior corresponding period.

The growth lifted the company's quarter-end backlog orders to $762.7 million, representing a 21% increase from $628.4 million reported on June 30.

SHAPE CEO Peter Marix-Evans commented, "The launch of Modular by SHAPE in Western Australia extends our national footprint, while our regional operations are contributing to our growth in project wins, with notable contributions from Tasmania."

Modular construction contributed Q1 revenue of $20.6 million compared to $14.5 million in the year-ago period, while Modular by SHAPE WA secured its first education project after joining the Western Australian Government modular panel.

An additional data centre contract award worth approximately $800 million from DigiCo Infrastructure REIT (ASX:DGT) in October pushed total project wins past $1.4 billion and total backlog orders above $1.5 billion as at Oct. 19.

Following the announcement the SHAPE Australia share price was unchanged at $6.91.

The company stated that its 120-day pipeline of known project opportunities has expanded to more than $1.7 billion, with the overall pipeline exceeding $4.5 billion as at Oct. 19.

Operational growth supported an increase in total workforce to 1,000 people in October alongside the opening of a new manufacturing facility in Perth.