Synertec Corporation Limited reported a striking 90% increase in Powerhouse Technology revenue and a 186% jump in engineering EBITDA for FY25, underpinned by key panel appointments and sustained fossil fuel-free power delivery.
- Powerhouse Technology revenue up 90% to $18.2 million
- Engineering segment normalised EBITDA rises 186% to $2.2 million
- Major panel appointments secured with Sydney Water, WA Water Corporation, and ANSTO
- Five years of 99.9% fossil fuel-free power delivered for Santos
- Robust pipeline of Powerhouse proposals primarily in oil & gas sector
Strong Financial Momentum Amid Sector Headwinds
Synertec Corporation Limited (ASX, SOP) has delivered a robust FY25 financial performance, marked by a remarkable 90% increase in revenue from its Powerhouse Technology segment, reaching $18.2 million. This growth was complemented by a 186% surge in the engineering segment's normalised EBITDA, which climbed to $2.2 million. The company’s Managing Director, Michael Carroll, highlighted a challenging first half of the year due to broad industry headwinds, followed by a strong rebound in the second half, reflecting strategic workforce recalibration and operational focus.
Strategic Panel Appointments Cement Market Position
Synertec’s engineering business secured major panel appointments with high-profile clients including Sydney Water, WA Water Corporation, and ANSTO. These appointments not only provide exclusivity and reduce competition but also ensure multi-year revenue streams and enhanced visibility. With 90% of revenue coming from repeat customers, Synertec is deeply embedded in critical infrastructure projects across water, transport, energy, and defence sectors. The company’s involvement in marquee projects such as the Melbourne Metro Tunnel underscores its engineering prowess and long-term client trust.
Powerhouse Technology, A Proven Sustainable Solution
The Powerhouse Technology segment continues to demonstrate its value proposition with over five years of continuous 99.9% fossil fuel-free power delivery for Santos across multiple remote Queensland sites. This track record has fueled a growing pipeline of proposals, primarily targeting the oil and gas sector, with potential deployments ranging from standalone power units to grid support solutions. The segment’s revenue growth to $2 million, up from $1.1 million in FY24, reflects increasing market acceptance and strategic supply chain partnerships that position Synertec ahead of emerging competitors.
Outlook and Strategic Focus
Looking ahead, Synertec aims to build on its engineering successes by targeting long-term, profitable opportunities with government departments, utilities, and infrastructure players. The company is also focused on securing supply chains to meet industry demand for Powerhouse units at scale, ensuring technological and commercial leadership. While sector-wide uncertainties remain, Synertec’s diversified portfolio and embedded client relationships provide a solid foundation for sustainable growth.
Bottom Line?
Synertec’s FY25 results underscore its rising influence in sustainable engineering and energy technology, setting the stage for accelerated growth amid evolving market dynamics.
Questions in the middle?
- How will Synertec navigate potential supply chain disruptions as Powerhouse demand scales?
- What are the timelines and likelihood of client final investment decisions for the large Powerhouse proposals?
- How might upcoming panel renewals impact Synertec’s revenue visibility and competitive positioning?