Australia · Delayed Price · Currency is AUD Bhagwan Marine Earnings Call Transcripts
Fiscal Year 2026
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Revenue declined 8.5% year-over-year to AUD 116.9 million, but EBITDA margins improved to 19% and cash flow was strong. The Riverside acquisition is expected to be highly accretive, expanding diversification and margins, with a positive outlook for the second half and beyond.
Fiscal Year 2025
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Revenue grew 5% to $283M and pro forma EBITDA rose 23% to $50.9M, with strong core business growth and improved margins. The company remains focused on margin expansion, operational efficiency, and capital discipline, with a positive outlook supported by robust tendering activity and industry fundamentals.
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Record half-year revenue and EBITDA growth driven by strong demand and a major decommissioning project, with robust cash flow and reduced net debt post-IPO. Outlook remains positive with rising day rates, constrained vessel supply, and strong activity across core and growth sectors.
Fiscal Year 2024
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Record FY 2024 revenue and EBITDA exceeded forecasts, driven by strong demand and a major decommissioning project. IPO proceeds reduced net debt, positioning for growth in decommissioning, offshore wind, and defense amid tight vessel supply and rising rates.