Civmec’s Strong Results Highlight Risks and Rewards in Defence Shipbuilding

Strong Financial Performance

Civmec Limited has delivered a solid first half for the 2026 financial year, reporting revenue of A$380.4 million and an EBITDA margin of 12.1%. The company’s net profit after tax stood at A$21.4 million, reflecting a net profit margin of 5.6%. With a strong cash balance of A$87.6 million and a net cash position of A$27.6 million, Civmec’s balance sheet remains robust, underpinning its capacity to fund ongoing operations and growth initiatives.

Diversified Operations and Contract Wins

The company’s diversified portfolio spans heavy engineering, energy, infrastructure, marine, defence, and OEM materials handling sectors. Noteworthy contract awards include BHP’s Port Debottlenecking Project 2, where Civmec is delivering concrete, earthworks, and steel fabrication, and Fortescue’s charger facilities at the Eliwana and Flying Fish mine sites. Maintenance contracts in key resource hubs such as Port Hedland and Gladstone further reinforce Civmec’s integrated service capabilities.

Advancing Naval Shipbuilding

Civmec’s naval shipbuilding division marked a significant milestone with the launch of NUSHIP Pilbara, the third Arafura Class Offshore Patrol Vessel and the largest naval ship ever built in Western Australia. The vessel is progressing through fit-out and sea trials ahead of delivery later this year. Construction continues on the remaining vessels in the class, positioning Civmec as a key player in Australia’s sovereign shipbuilding efforts, particularly within the emerging Henderson Defence Precinct.

Outlook and Strategic Positioning

The outlook remains positive, supported by a record order book of A$1.35 billion and increased early contractor involvement across multiple segments. Civmec is actively engaged in projects related to the global energy transition, including critical minerals and electrification infrastructure. The company’s vertically integrated delivery model and substantial asset base provide a competitive edge in managing complex, large-scale projects across sectors.

Shareholder Returns and Community Engagement

Reflecting confidence in its financial position, Civmec declared an interim dividend of 2.5 Australian cents per share, payable in April 2026. Beyond financial performance, the company has demonstrated community commitment through charitable support and has received multiple awards recognizing project excellence, including for its Boorloo Bridge and contributions to the BHP car dumper program.