Lycopodium Limited reports strong half-year results for 1H FY26, driven by increased project delivery and strategic expansion into the Americas. The company updates its full-year guidance amid a robust pipeline across gold, copper, and critical minerals.
- 1H FY26 revenue of $174.5 million and NPAT of $18.3 million
- Fully franked interim dividend of 22 cents per share declared
- Updated FY26 guidance – revenue $370-$410 million, NPAT $37-$41 million
- Growth supported by SAXUM acquisition and expanded Americas footprint
- Strong project pipeline in gold, copper, lithium, and critical minerals
Solid First Half Performance
Lycopodium Limited has delivered a robust financial performance in the first half of fiscal year 2026, posting revenue of $174.5 million and a net profit after tax (NPAT) of $18.3 million. This result reflects near-record project delivery volumes and an NPAT margin aligning closely with the company’s long-term target of around 10%. The company’s strong cash position of $80 million further underscores its financial health.
Alongside these results, Lycopodium declared a fully franked interim dividend of 22 cents per share, signalling confidence in ongoing earnings stability and shareholder returns.
Strategic Expansion and Project Pipeline
Central to Lycopodium’s growth story is its strategic expansion into the Americas, bolstered by the recent acquisition of SAXUM. This move has opened access to new markets, particularly in Latin America, where the company is pursuing opportunities in copper, silver, and gold projects previously out of reach.
The company’s project pipeline remains robust, with committed contracts valued at $415 million and a broader revenue opportunity pipeline estimated at approximately $1.3 billion. Recent project awards span multiple continents and commodities, including gold projects in Africa, copper-gold ventures in Oman, and lithium plant expansions in Western Australia.
Operational Excellence and Safety
Lycopodium continues to demonstrate operational discipline, safely managing a significant workload across its global footprint. The company recorded 11.3 million work hours over the past year with a low Lost Time Injury Frequency Rate (LTIFR) of 0.09, highlighting its commitment to workplace safety and project execution quality.
Further, the company is refining its regional operational management, focusing on three key hubs – Asia-Pacific, the Americas, and Africa. This approach supports targeted growth and resource allocation, with office expansions planned or underway in Perth, Manila, Lima, Toronto, Cape Town, and Vancouver.
Updated FY26 Guidance and Market Outlook
Reflecting its first-half achievements and current work-in-hand, Lycopodium has updated its full-year guidance to a revenue range of $370 million to $410 million and NPAT between $37 million and $41 million. While slightly revised downward from earlier forecasts, this guidance anticipates elevated project delivery volumes and earnings contributions in the second half of FY26.
The company remains well positioned in sectors with strong demand drivers, including gold, copper, lithium, and other critical minerals essential to clean energy and technology transitions. Lycopodium’s expertise in modular engineering and project delivery continues to attract new opportunities, particularly in commodities aligned with global decarbonisation trends.
Bottom Line?
Lycopodium’s strategic expansion and solid project pipeline set the stage for sustained growth, but execution timing remains a key watchpoint.
Questions in the middle?
- How will shifting project execution timelines impact Lycopodium’s H2 FY26 revenue recognition?
- What is the long-term growth potential from the SAXUM acquisition in the Americas?
- How will global commodity demand trends influence Lycopodium’s project mix and margins?