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Tasmea Limited (ASX:TEA)

ALERT: Price-sensitive ASX Announcement for TEA
Current share price for TEA : $9.550 0.35 (3.80%)+
Announcement
Release
27 Aug 2026 9:18AM
Price at Release
$9.200
Full Release
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Summary
Tasmea Limited’s FY26 Results Presentation reports strong earnings, cash flow and shareholder return growth driven by its twin-pillar strategy of organic growth and programmatic acquisitions, with FY26 revenue up 136% to $1.29 billion, underlying EBITA/EBIT up 54% to $118.1 million, underlying NPAT up 42% to $73.7 million and underlying EPS up 27% to 28.8 cents, all ahead of guidance; the company highlighted 18.1% organic EBIT growth excluding WorkPac, operating cash flow of $147.1 million with 125% EBIT conversion, free cash flow of $58.9 million, ROCE of 37.8%, ROE of 32.0%, a strong balance sheet with net debt of $59.6 million and leverage of 0.4x at 30 June 2026, and a fully franked final dividend of 8.5 cents per share for total FY26 ordinary dividends of 14.5 cents per share, while noting total shareholder return of 523% since its April 2024 IPO; the presentation also outlines acquisitions including WorkPac, Maxim Group and JPS Group, discusses demand tailwinds in mining, copper, electrification, data centres and oil and gas, shows strong segment performance across electrical, civil, mechanical, water and fluid, and workforce solutions, and upgrades FY27 guidance to underlying EBITA of $205 million to $210 million and underlying NPATA of $130 million to $133 million, reflecting strong contract wins, high pipeline visibility and continued momentum into FY27.
Key Points
  • FY26 underlying EBITA and EBIT were $118.1 million, exceeding guidance and rising 54% on FY25.
  • FY26 underlying NPAT was $73.7 million, exceeding guidance and increasing 42% on FY25.
  • Revenue increased 136% to $1.293 billion in FY26.
  • Underlying EPS rose 27% to 28.8 cents per share.
  • Tasmea declared a fully franked final dividend of 8.5 cents per share, taking FY26 ordinary dividends to 14.5 cents per share.
  • Operating cash flow before interest and tax was $147.1 million, up 126%, with 125% cash conversion versus underlying EBIT.
  • Free cash flow increased 136% to $58.9 million.
  • Organic EBIT growth excluding WorkPac was 18.1% in FY26.
  • ROCE was 37.8% and ROE was 32.0% in FY26.
  • Net debt was $59.6 million at 30 June 2026, with leverage of 0.4x net debt to pro forma EBITDA.
  • Tasmea completed or announced the acquisitions of WorkPac, Maxim Group and JPS Group.
  • WorkPac contributed $8.0 million of underlying EBIT in the seven months since acquisition on 1 December 2025.
  • Electrical was the largest segment contributor with FY26 underlying EBIT of $50.2 million.
  • Civil segment underlying EBIT rose 81% to $32.0 million.
  • Mechanical segment underlying EBIT increased 9% to $17.6 million.
  • Water and fluid segment underlying EBIT increased 19% to $10.3 million.
  • Tasmea highlighted strong demand from data centres, copper, electrification and oil and gas markets.
  • The company cited major contract wins including Victorian data centre contracts, BHP copper maintenance work, RTIO and Fortescue wins, and US opportunities.
  • FY27 revenue pipeline visibility improved, with secured, recurring and tendered revenue increasing to $1.31 billion.
  • Tasmea upgraded FY27 guidance to underlying EBITA of $205 million to $210 million and underlying NPATA of $130 million to $133 million.
  • Management said FY27 had commenced strongly and guidance only reflects announced or completed acquisitions to date.
  • The presentation emphasised founder-led management alignment, reinvestment capacity, diversification across subsidiaries, and continued focus on safety and recurring maintenance revenue.
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.