Civmec Limited

After reporting record results for the third consecutive year in FY2024 ended June 30, Civmec remains focused on maintaining a “solid bottom line” and margins, says Patrick Tallon, CEO of the company.

The group’s revenue stood at A$262.7 million, up 7.2% y-o-y from 1QFY2024.

Upon completion of the agreement, NVL is set to transfer all its shareholding in Luerssen Australia to Civmec, which includes all assets, employees, and licences.

The group has proposed a final dividend of 3.5 Australian cents, bringing its total yearly dividend to 6 Australian cents.

For the half-year period, revenue increased 17.5% y-o-y to A$492.3 million.

The last few financial years since FY2020 have been great for Civmec as it delivered yet another record performance in FY2023.

Civmec was able to increase earnings and margins during the quarter, despite a slight decrease in revenue.

DBS analysts are watching US economic data and Fedspeak that could signal one of two possible outcomes at the March Fed meeting.

1HFY2023 patmi rose 25% y-o-y to A$28.2 million ($25.96 million), beating consensus expectations.

With this new $330 mil contract win, Civmec is starting the new year with an order book of about $1.2 billion.