FY25 Financial Results

FY25 FINANCIAL RESULTS

GR Engineering Services Limited (ASX:GNG) (GR Engineering or the Group) today announces its financial results for the financial year ended 30 June 2025 (FY25). 

Overview 

GR Engineering reported FY25 revenue of $479.0 million (FY24: $424.1 million), EBITDA of $57.2 million (FY24: $50.9 million) and a profit before tax of $51.1 million (FY24: $46.1 million). 

The Group achieved an improved revenue and EBITDA result compared to the prior year. The EBITDA margin percentage was consistent with the prior year. This was the result of solid contracting activity from the core business and the key subsidiaries, GR Production Services (GRPS), Mipac and Paradigm.  

The Board has resolved to increase the final dividend of 12.0 cps (fully franked), resulting in total FY25 dividends of 22.0 cps fully franked (FY24: 19.0 cps fully franked). The Group recently announced the implementation of a Dividend Reinvestment Plan. The Dividend Reinvestment Plan will apply to the final dividend and a 2.5% discount will apply to the allocation price.  

Commenting on the Group’s FY25 financial performance, GR Engineering’s Managing Director, Mr Tony Patrizi, said: 
“GR Engineering safely and successfully delivered multiple major and minor projects during the year. The major completions included the Mungari Future Growth Project, Kathleen Valley Lithium Backfill Project and the Woodlawn Restart Project. During the period, GR Engineering completed its transitional and handover works relating to BHP’s West Musgrave Project. Project execution levels remain high as works continue on the Kainantu Gold Project, King of the Hills Operations Stage 1 and Stage 2 upgrades and the Eloise Copper Expansion Project. 

GRPS achieved revenue contributions primarily through the provision of operations and maintenance services to the energy sector. GRPS has successfully increased its revenue and earnings visibility based on contract extensions awarded during FY25 including the Santos’ Cooper Basin and Surat Basin extensions. 

Mipac and Paradigm are leading providers of control systems, operational technology and engineering services in the mineral processing, iron ore and energy sectors. The process controls business continued to provide services to key repeat customers such as First Quantum, BHP, Rio Tinto, Glencore Technology, Ok Tedi, Anglo American and other smaller conglomerates. 

The Group’s contracted and near-term pipeline across the business is solid and continuing to grow. Based on the pipeline and the high levels of study work, the Group’s medium to long term visibility for project work remains high. 

At 30 June 2025, GR Engineering recorded a cash balance of $71.0 million after paying out $33.4 million in fully franked dividends to shareholders during FY25. Negligible bank debt, low capital intensity and excellent project delivery all contributed to the maintenance of a robust and stable balance sheet.  
I would like to take this opportunity to especially thank all our employees, sub-contractors and suppliers for their efforts and support across the Group.” 

Read the full ASX Media Release

About GR Engineering

GR Engineering specialises in providing fixed price engineering design and construction services to the global resources and mineral processing industries. GR Engineering has a proven track record of delivering integrated project solutions in over 20 countries across all major commodity types. As a group, GR Engineering employs more than 500 professional, technical and support staff throughout Australia and internationally, in addition to a direct construction workforce and subcontracted personnel.

GR Engineering Services Limited is listed on the Australian Securities Exchange (ASX: GNG).

For further information please contact:

Tony Patrizi

Managing Director

+61 8 6272 6000

tony.patrizi@gres.com.au

Omesh Motiwalla

CFO & Company Secretary

+61 8 6272 6000

omesh.motiwalla@gres.com.au

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