Matrix Composites & Engineering has landed a significant A$35 million subsea buoyancy contract with a major international energy services firm, underpinning its growth trajectory into FY2026.
- A$35 million subsea buoyancy contract awarded
- Contract with large multinational energy services contractor
- Production to start December 2025 in Henderson, WA
- Manufacturing completion expected by end of 2026 financial year
- Contract reinforces Matrix’s global subsea market position
Matrix Wins Major Subsea Contract
Matrix Composites & Engineering Ltd (ASX – MCE) has announced a new contract valued at approximately A$35 million to supply and manufacture subsea buoyancy components for an international energy project. The contract, awarded by a large multinational energy services contractor, marks another milestone in Matrix’s expanding footprint in the global subsea engineering market.
Production and Delivery Timeline
The project will leverage Matrix’s advanced composites production facility in Henderson, Western Australia. Production is slated to commence in the December quarter of 2025, with manufacturing expected to be completed by the end of the 2026 financial year. This timeline aligns with Matrix’s strategy to scale operations efficiently to meet the demands of large-scale international projects.
Strategic Implications and Market Position
CEO Aaron Begley highlighted the significance of this contract as a testament to Matrix’s reliability and capability to deliver advanced subsea products at scale. The award complements ongoing projects across the company and signals strengthening subsea industry spending forecasts. While the identity of the contracting party remains confidential, the scale and nature of the contract underscore Matrix’s strong relationships with multinational clients and its competitive positioning.
Outlook and Growth Momentum
This contract not only adds substantial revenue visibility for the upcoming financial year but also positions Matrix well for continued growth. The company’s ability to secure such contracts amid a competitive global market suggests robust demand for its composite and advanced material solutions. Investors will be watching closely for any further options exercised under the contract and additional equipment packages that may arise.
Bottom Line?
Matrix’s latest contract win cements its role as a key player in subsea engineering, setting the stage for a pivotal 2026.
Questions in the middle?
- Who is the multinational energy services contractor behind the contract?
- What are the potential financial impacts if options for further equipment packages are exercised?
- How will this contract influence Matrix’s capacity and resource allocation for other projects?