NRW Holdings (ASX:NWH) reports strong preliminary FY24 results

NRW Holdings, a construction and mining contractor headquartered in Perth, has provided an update on its FY24 full-year results, expecting revenue of $2.9 billion, consistent with its prior guidance.

Preliminary EBITA figures suggest an unprecedented $195 million, surpassing the estimated range of $175 million to $185 million.

The company logged an order book of approximately $5.5 billion, with $2.7 billion already secured for FY25.

The company's cash holdings stand at $247 million, reflecting a conversion rate exceeding 90% of EBITDA.

The sale of 56.9 million Spartan Resources (ASX:SPR) shares yielded a $23 million gain, with $8 million incorporated into operational EBIT.

"NRW has had another strong year and I am very pleased to announce that our financial performance in FY24 has exceeded our expectations, outperforming the earnings guidance," said Jules Pemberton, managing director and CEO of NRW Holdings.

The FY24 figures exclude the impact of the Spartan Resources gain, indicating a pure operational EBITA that still exceeded guidance.

The company's full year results are anticipated for release on Aug. 15.