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Bhagwan Marine Limited (ASX:BWN)

ALERT: Price-sensitive ASX Announcement for BWN
Current share price for BWN : $0.295 -0.15 (-33.71%)+
Announcement
Release
26 Feb 2026 8:07AM
Price at Release
$0.445
Full Release
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Summary
Bhagwan Marine Limited reported its half-year 2026 financial results, highlighting a steady net core revenue of $116.9 million despite an 8.5% decline due to the timing of contract awards. The company achieved an increase in EBITDA margins to 19% and generated strong operating cash flow of $25.4 million, up 21% from the previous year. The acquisition of Riverside Marine is expected to support strategic growth and diversification. The interim dividend declared was 0.5 cents per share, fully franked. Operational highlights include securing significant contracts, such as a five-year offshore deal with Jadestone Energy, and completing projects in subsea and marine works sectors. The company also emphasized its commitment to safety and governance while expanding into new growth sectors and integrating Riverside Marine.
Key Points
  • Steady net core revenue of $116.9 million.
  • EBITDA margins increased to 19%.
  • Strong operating cash flow of $25.4 million.
  • Acquisition of Riverside Marine to support growth.
  • Interim dividend of 0.5 cents per share declared.
  • Secured a five-year contract with Jadestone Energy.
  • Completed multiple subsea projects.
  • Strong safety performance with LTIFR of zero.
  • Emphasis on governance and operational processes.
  • Expansion into new growth sectors.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.