SCEE Posts 45% Revenue Growth, Eyes 24% EBITDA Rise in FY26
Southern Cross Electrical Engineering Limited (SCEE) delivered record FY25 financials, driven by a 45% revenue jump and the recent Force Fire acquisition, setting the stage for robust FY26 growth.
- Record FY25 revenue of $801.5 million, up 45.2%
- EBITDA climbs 36.6% to $54.8 million, NPAT up 44.5%
- Force Fire acquisition expands fire safety and recurring revenue streams
- Infrastructure sector dominates with 63.8% of revenue
- FY26 EBITDA guidance targets 18-24% growth to $65-68 million
Record-Breaking Financial Performance
Southern Cross Electrical Engineering Limited (SCEE) has reported a landmark full-year performance for FY25, posting revenue of $801.5 million; a striking 45.2% increase over the previous year. Earnings before interest, tax, depreciation, and amortisation (EBITDA) rose 36.6% to $54.8 million, while net profit after tax (NPAT) surged 44.5% to $31.7 million. These results underscore SCEE’s successful strategy of diversification and expansion across multiple sectors.
The company’s infrastructure segment now accounts for nearly two-thirds of total revenue, reflecting a strategic pivot towards long-term, large-scale projects such as the Collie Battery Energy Storage System and Western Sydney International Airport developments. This shift has helped SCEE capitalize on Australia’s ongoing infrastructure investment boom.
Strategic Acquisition Enhances Capabilities
In April 2025, SCEE completed the acquisition of Force Fire, a leading provider of fire safety solutions with a strong recurring revenue base and exposure to commercial, industrial, and data centre markets. This move aligns with SCEE’s goal to broaden its service offerings and increase recurring maintenance revenues, which are less cyclical and provide greater revenue stability.
Force Fire’s expertise in both mechanical and electrical fire safety systems complements SCEE’s existing electrical contracting capabilities, creating cross-selling opportunities and operational synergies. The acquisition also positions SCEE to consolidate a fragmented fire safety sector, supported by a highly experienced Force Fire management team.
Robust Balance Sheet and Dividend
SCEE’s financial strength remains robust, with a record year-end cash balance of $88.6 million and zero debt, providing ample capacity for further acquisitions and organic growth. The company declared a fully franked final dividend of 5.0 cents per share, reflecting confidence in its cash flow generation and commitment to shareholder returns.
Despite a slight decline in the order book to $685 million, largely due to project completions, the company’s pipeline remains strong, particularly in data centres, battery storage, and industrial warehousing projects. This diversified backlog supports the company’s optimistic outlook for FY26.
Outlook and Growth Prospects
Looking ahead, SCEE has provided FY26 EBITDA guidance of $65 million to $68 million, representing an 18-24% increase on FY25. The company is actively pursuing additional acquisitions to enhance geographic reach and service capabilities, backed by a solid balance sheet and proven integration expertise.
Key growth drivers include the electrification and decarbonisation of the Australian economy, which is expected to fuel demand for electrical, communications, security, and fire safety services. SCEE’s diversified portfolio and multi-disciplinary approach position it well to capture these opportunities.
Bottom Line?
With record results and strategic acquisitions fueling growth, SCEE is poised for another strong year amid Australia’s infrastructure and energy transition surge.
Questions in the middle?
- How will the integration of Force Fire impact SCEE’s margins and cross-selling potential?
- What are the risks and potential outcomes of the ongoing WestConnex arbitration?
- Which new acquisition targets is SCEE prioritizing to expand its geographic and service footprint?
