Civmec Limited has reported lower earnings of A$42.5 million ($35.61 million) for the FY2025 ended June 30, compared to the A$64.4 million reported in the same period a year ago.
For the 2HFY2025 ended June 30, earnings similarly declined to A$16 million from the A$32.5 million reported in the same period a year ago.
The dual-listed construction and engineering company posted a lower revenue of A$810.6 million for FY2025, and A$307.7 million for the 2HFY2025.
The group says that the decline in revenue was due to reduced activity levels following the completion of major contracts, resulting in lower earnings. Earnings were also further impacted by higher administrative expenses.
Civmec’s net profit after tax for FY2025 was A$42.5 million, resulting in a net profit margin of 5.2%.
The group’s net assets stood at A$530.5 million, with a net asset value per share of 104.4 Australian cents, and earnings per share came in at 8.4 Australian cents.
Civmec’s operating cash flow came in at A$97.8 million, and cash and cash equivalents stood at A$102.9 million during the period.
Borrowings reduced to A$60 million in FY2025.
The group has declared a final dividend of 3.5 Australian cents, bringing total dividends declared for FY2025 to 6.0 cents.
See also: Avi-Tech’s FY2025 earnings fall 76.4% to $663,000 on weak engineering services business performance
As at July 31, Civmec’s order book stood at over A$1.25 billion, following the Luerssen Australia acquisition.
Shares in Civmec closed 0.5 cents higher or 0.532% up at 94.5 cents on Aug 28.
