Highlights

  • Saunders International reported FY26 Revenue of A$305.6 million and adjusted EBITDA of A$9.8 million.
  • Work in hand reached A$571.9 million and the opportunity pipeline stood at A$5.1 billion at 30 June 2026.
  • The board declared a 1.00-cent fully franked final dividend, payable on 13 October 2026.

Saunders International Limited (ASX:SND) finished FY26 with a materially larger revenue base and record levels of contracted work and identified opportunities. Revenue was A$305.6 million, adjusted EBITDA was A$9.8 million, work in hand reached A$571.9 million and the opportunity pipeline stood at A$5.1 billion.

The financial picture is mixed because the company still recorded a statutory loss for FY26. That makes the central issue for investors straightforward: whether the larger order book can translate into improved profitability and cash generation as projects move through mobilisation and delivery.

Company Overview

Saunders International provides engineering, construction and industrial asset services across defence and government, water, energy, resources and other infrastructure markets. Its capabilities span storage and transfer infrastructure, structural and mechanical work, piping, automation, civil works, water infrastructure and asset maintenance.

During FY26, Saunders International Limited (ASX:SND) completed the integration of Saunders Aqua Metro and expanded its access to long-duration water and defence opportunities. The company enters FY27 with a broader service platform and a larger contracted workload.

Financial and Operational Position

FY26 revenue was A$305.6 million and adjusted EBITDA was A$9.8 million. Adjusted net profit after tax before Amortisation was A$3.9 million, while cash and cash equivalents were A$29.8 million at 30 June 2026.

Work in hand was A$571.9 million and the opportunity pipeline was A$5.1 billion. The board declared a 1.00-cent fully franked final dividend, with a Record Date of 15 September 2026 and payment scheduled for 13 October 2026.

What Investors May Watch Next

The principal operating measure is conversion of work in hand and the opportunity pipeline into profitable revenue. Investors may monitor contract awards, project mobilisation and whether the enlarged Business can improve margins as FY27 progresses.

Defence, water and energy infrastructure remain important end markets. The first FY27 result should provide a clearer indication of whether the record order book is producing a better bottom-line outcome rather than simply adding scale.

Risks

Engineering and construction contracts can carry execution, scheduling and cost-overrun risk. Earnings can be affected by project delays, labour availability, subcontractor performance, materials Inflation and working-capital movements. A large opportunity pipeline does not guarantee contract awards, and work in hand does not eliminate delivery risk.

Key Insights

Saunders International Limited (ASX:SND) has entered FY27 with record work in hand, a A$5.1 billion opportunity pipeline and A$29.8 million of cash, but FY26 still produced a statutory loss. The key financial question is whether the expanded workload can generate better margins and more consistent statutory profitability.