Key Highlights

  • Downer shares were priced at $7.78, up 12.59% over one year.
  • First-half statutory NPAT increased 29.8% to $98.0 million.
  • Underlying EBITA rose 11.2% to $227.1 million despite lower revenue.
  • Work in hand increased 8.9% to $38.2 billion.

Downer EDI shares have advanced 12.59% over the past year to $7.78. The company’s latest update provides the immediate context for a market capitalisation of approximately $5.13 billion.

Company Overview

Downer provides transport, utilities, facilities, defence and infrastructure services in Australia and New Zealand. Its strategy has increasingly emphasised services work, selective contracting, cash conversion and a simpler portfolio.

Latest Update

The February 2026 half-year result showed statutory NPAT rising 29.8% to $98.0 million and underlying NPATA increasing 7.0% to $136.1 million. Underlying EBITA grew 11.2% to $227.1 million even as revenue declined. Cash conversion reached 90.5%, net debt to EBITDA improved to 0.8 times and work in hand rose to $38.2 billion.

Financial and Share-Price Snapshot

At $7.78, Downer had a market capitalisation of about $5.13 billion and a one-year gain of 12.59%. The share-price improvement coincides with better margins and balance-sheet measures, making continued execution more important than headline revenue alone.

What May Be Watched Next

The full-year result may clarify margin sustainability, cash conversion, contract wins and capital management. Delivery across transport, utilities and facilities contracts will determine whether the earnings improvement can continue.

Key Risks

Risks include contract losses, cost overruns, government procurement delays, labour constraints, safety incidents, customer concentration and working-capital volatility.