Southern Cross Electrical Engineering Ltd (ASX:SXE)

ALERT: Price-sensitive ASX Announcement for SXE

Current share price for SXE : $4.330 1.47 (51.40%)⁺

Announcement

Investor Presentation - H1 FY26 Results

Release

18 Feb 2026 8:11AM

Price at Release

$2.860

Full Release

Summary

Southern Cross Electrical Engineering Ltd reported robust financial results for H1 FY26, with a notable increase in underlying EBITDA and EBIT despite facing a significant NPAT loss caused by legal expenses from the WestConnex arbitration settlement. The company experienced a decline in revenue due to the completion of key projects but expanded its order book and maintained a strong cash position post-settlement. Force Fire's integration bolstered gross profits, and infrastructure continued to lead revenue contributions. The announcement highlighted ongoing strategic diversification and cost management efforts, including an interim dividend declaration.

Key Points

Underlying EBITDA increased to $35.4 million, up 30.8% from the previous corresponding period.
Underlying EBIT rose to $29.1 million, a 25.5% increase from the previous corresponding period.
The company faced a Net Profit After Tax (NPAT) loss of $12.8 million, compared to a profit of $16.2 million in the prior period.
WestConnex arbitration resulted in legal dispute costs of $46.1 million.
Revenue dropped by 12.2% to $349.1 million due to the winding up of projects like Collie BESS.
The order book increased to $710 million, a 6.0% rise from the previous period.
Force Fire acquisition was fully consolidated, contributing to increased gross profit and overheads.
Infrastructure remains the largest revenue sector, accounting for 47.8% of total revenue.
The company declared a 2.5 cents per share interim dividend, fully franked.
Strong cash position with $58.8 million after WestConnex settlement.

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.