Diluted HEPS decreased from 8.6cps in 1H24 to -26.7cps in 1H25.
Revenue declined by 8.1% y-y to A$1 398m, due to declines across each segment, largely driven by the weaker infrastructure market in Australia and New Zealand.
GPM decreased from 5.5% to 2.7%.
OPM weakened from 1.0% to -2.2%.
Expenses fell by 2.8% y-y, while expense to sales rose from 4.7% to 5.0%.
No dividend.
Gross debt decreased by 4.8% y-y to A$69m.
Cash from operating activities declined from A$115m to A$30m.
Order book decreased from A$3.6bn in 1H24 to A$2.6bn in 1H25, largely due to a slowdown in infrastructure awards in Australia due to a reduction in state government spending.
Included in the operating loss before capital items is the impact of the Kidston and J108 project losses of A$76.7 million. The losses were incurred due to project underperformance, particularly on the Kidston project.
