SCEE FY26 slides: profit surges 40% on margin gains, $100m FY27 target

Southern Cross Electrical Engineering Limited (SCEE) reported its FY26 results on August 19, revealing record underlying profitability despite a decline in revenue. The electrical contractor pivoted towards higher-margin work and is positioned for substantial growth in data centers and infrastructure. Revenue dropped 10.3% to $718.7 million, while underlying EBITDA surged 40.5% to a record $77.0 million, up from $54.8 million in FY25.

Underlying earnings rose 40.3% to $64.4 million, while net profit after tax increased 24.3% to $39.4 million. The company's cash position reached a record $261.5 million, bolstered by strong cash collection and a $144.7 million net equity raise. SCEE's strategic diversification across sectors, geographies, and disciplines is highlighted in the revenue breakdown, with 75% of revenue originating from eastern states and 59% from electrical services.

The company completed a $150 million institutional placement and a $15 million Share Purchase Plan, increasing its bank guarantee and surety bond capacity to $220 million.