Civmec Limited has reported lower earnings for the 1HFY2025 ended Dec 31, 2024 of A$26.5 million ($22.41 million), a decrease from the A$31.9 million in the same period a year ago.
The dual-listed construction and engineering services provider reported a 17.5% y-o-y decrease in earnings per share for the reporting period of 5.2 Australian cents from 6.3 Australian cents previously.
Civmec has announced an interim dividend of 2.5 Australian cents per share for the 1HFY2025.
The group reported a 2.2% y-o-y increase in revenue for the 1HFY2025 to A$502.9 million, and an ebitda A$52.9 million, a decrease of 11.2% y-o-y.
The group’s consolidated gross profit has dropped by 7.5% y-o-y to A$55.8 million with a gross profit margin of 11.1% which also decreased slightly.
As at Dec 31, 2024, the group's order book stood at A$633 million, a decrease from the A$1.002 billion in the same period a year before.
Civmec’s net assets grew by 13.6% y-o-y for the 1HFY2025 to A$497.3 million, and net asset value per share grew by 13% y-o-y to 97.9 Australian cents.
See also: Jardine Matheson posts loss of US$468 mil, but underlying net profit stood at US$1.47 bil
“We continue to deliver strong returns to shareholders, evidenced by the consistent interim dividend of 2.5 cents per share for 1H FY25. This stability in dividend payout reflects our commitment to delivering value to our shareholders, while continually reinvesting in the growth of the company. Our robust net asset growth of 14% underscores our financial resilience and strategic focus on long-term shareholder returns,” says chairman James Fitzgerald.
Shares in Civmec closed 3 cents lower or 2.778% down at $1.05 on Feb 13.
