Perenti has powered through the 2024–24 financial year (FY25) with a record-breaking result, including a record $333 million in underlying earnings before interest, taxes, and amortisation (EBITA).
Revenue hit an all-time high of $3.49 billion, up 4 per cent on FY24, driven by growth in drilling services and another steady contribution from contract mining.
Underlying EBITA rose 6 per cent to $333 million, lifting margins to 9.6 per cent, while underlying net-profit after tax (NPAT) climbed 8 per cent to $178 million. Statutory NPAT surged 29 per cent to $137.8 million.
Free cashflow surged to $286.1 million, boosted by the sale of equipment and inventory following the conclusion of an underground project in Botswana.
Normalised free cashflow came in at a record $194.6 million, with net debt cut to $304.7 million. Perenti has strengthened its balance sheet while rewarding shareholders with a $0.043 final dividend, bringing the full-year payout to $0.073 per share – 21 per cent higher than FY24.
“We are pleased to report another year of positive performance, achieving record revenue, EBITDA, and EBITA,” Perenti managing director and chief executive officer Mark Norwell said. “Perenti’s strengthened EBITA margin demonstrates our commitment to financial discipline across the business.
“The record free cash flow and underlying NPATA reflect our ability to generate sustainable value for our shareholders and consequently an increased final dividend of 4.25 cent per share has been declared.”
Norwell said the company progressed on safety and operational consistency, crediting a more selective tendering approach and improved systems for reducing risk and driving reliability.
“The FY25 results are another demonstration of the resilient and consistent returns that Perenti can deliver, even through the inevitable fluctuations in commodity prices and market cycles,” he said.
“The key to our resilience and performance comes from building a portfolio of global mining service businesses of scale.”
Looking to FY26, Perenti has $6.5 billion of work in hand and a $17.4 billion project pipeline. Guidance indicates revenue between $3.45–3.65 billion, EBITA of $335–355 million, and free cashflow above $160 million.
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Want to connect with the mining industry? Register to attend AIMEX and WA Mining Conference.
Want to connect with the mining industry? Register to attend AIMEX and WA Mining Conference.
