SCEE Posts 45% Revenue Surge, Guides $65m-$68m EBITDA for FY26

Record Growth Amid Strategic Expansion

Southern Cross Electrical Engineering Limited (SCEE) has reported a stellar financial year ending June 2025, posting record revenue of $801.5 million, a 45.2% increase over the previous year. This surge was accompanied by a 36.6% rise in EBITDA to $54.8 million, comfortably exceeding the company’s guidance of at least $53 million. Net profit after tax also hit a record $31.7 million, up 44.5%, underscoring the company’s strong operational performance.

The growth was driven primarily by the infrastructure sector, which more than doubled its revenue to $511.6 million, accounting for 64% of total revenue. Key projects such as Synergy’s Collie Battery Energy Storage System (CBESS) in Western Australia and the Western Sydney International Airport terminal contributed significantly. Meanwhile, commercial and resources sectors remained stable, with ongoing contracts supporting steady revenue streams.

Acquisition of Force Fire Broadens Capabilities

In a strategic move to diversify and deepen its service offerings, SCEE completed the acquisition of Force Fire Holdings in April 2025. This addition brings specialised fire safety solutions, both mechanical and electrical, complementing SCEE’s core electrical contracting expertise. Force Fire’s recurring revenue base and exposure to commercial and industrial buildings, including data centres, provide promising cross-selling opportunities and geographic expansion potential.

The acquisition also aligns with SCEE’s broader strategy of expanding into adjacent disciplines and increasing recurring service revenues, which now constitute over 25% of total revenue. The company is actively exploring further acquisitions to build on this momentum.

Robust Order Book and Positive Outlook

SCEE’s order book remains strong at $685 million, diversified across infrastructure, commercial, and resources sectors, with a notable 25% now in non-electrical disciplines such as fire safety and security. The company is well positioned to capitalise on the growing demand for data centres, battery storage, and industrial warehousing projects, driven by Australia’s energy transition and electrification trends.

Looking ahead, SCEE has provided FY26 EBITDA guidance of $65 million to $68 million, representing an 18-24% increase. This optimistic outlook is supported by a healthy pipeline of projects and ongoing tender activity. However, the company remains cautious about potential risks from project delays or broader economic uncertainties.

Strong Financial Position and Commitment to Safety

Despite significant investments, including $32 million for the Force Fire acquisition and $19.1 million in dividends, SCEE ended FY25 with a record cash balance of $88.6 million and remains debt free. The company also declared a fully franked final dividend of 5.0 cents per share, bringing total dividends for the year to 7.5 cents per share, a 25% increase.

On the safety front, SCEE continues to demonstrate exemplary performance, achieving a Lost Time Injury-free record for the third consecutive year across its operations, reflecting a strong safety culture among its workforce of approximately 1,900 employees.