Key Highlights

  • Project wins reached $504.6 million in Q1 FY27, up from $336 million in the prior corresponding period.
  • Quarter-end backlog orders of $762.7 million were 21% higher than at 30 June 2026.
  • An award of about $800 million from DigiCo Infrastructure REIT lifted project wins above $1.4 billion and backlog above $1.5 billion as at 19 October 2026.
  • Modular construction revenue rose to $20.6 million from $14.5 million a year earlier.

SHAPE Australia Corporation Limited (ASX:SHA) has reported first-quarter FY27 project wins of $504.6 million, compared with $336 million in the same period a year earlier. The fitout and construction services group also disclosed an award of roughly $800 million from DigiCo Infrastructure REIT (ASX:DGT), which took its project wins above $1.4 billion and its backlog above $1.5 billion as at 19 October 2026. The trading update, dated 28 October 2026, also covered modular construction revenue, a new Western Australian facility, headcount and the size of the pipeline.

First-Quarter Wins and Backlog Movement

New projects secured in the first quarter totalled $504.6 million, an increase of $168.6 million on the $336 million recorded in the prior corresponding period. Backlog orders at quarter end stood at $762.7 million, which is 21% above the $628.4 million reported at 30 June 2026, the close of FY26.

These figures exclude Arden Fitout & Maintenance Pty Ltd and Australian Professional Shopfitters Pty Ltd, a point the company noted against the backlog and pipeline numbers. Chief Executive Officer Peter Marix-Evans said the result reflected the conversion of opportunities into secured work. He also pointed to regional operations as a contributor to wins, naming Tasmania specifically.

The DigiCo Data Centre Contract

After the quarter closed, SHAPE was awarded a data centre project of approximately $800 million by DigiCo Infrastructure REIT, procured through an Early Contractor Involvement method. With that award included, project wins increased to more than $1.4 billion and backlog orders to above $1.5 billion as at 19 October 2026.

SHAPE stated that DigiCo has confirmed execution of the customer contract, with approved grid capacity, water access and State Significant Development Approval in place. The expansion is described as fully funded from DigiCo's existing liquidity, available debt facilities and proceeds from United States asset sales. SHAPE expects the project to add about $200 million of revenue in each of FY27 and FY28, above its forecasts for those years before the award.

The contract follows SHAPE's delivery of the 20 MW Stage 1 upgrade at SYD1 and an Early Contractor Involvement process to scope, design and price the next phase with DigiCo before a fixed price was agreed. A dedicated delivery team of more than 50 people combines Stage 1 personnel with specialists recruited for their data centre experience. Pricing and terms have been secured on all major subcontracts on a back-to-back basis with SHAPE's head contract commitments. James Fitzgerald, General Manager NSW, is accountable to the Chief Executive Officer for delivery, with executive steering group reviews covering progress, cost and cash flow, and reporting to the Board.

Modular, Regional and Headcount Figures

Modular construction produced revenue of $20.6 million in the quarter, against $14.5 million in the prior corresponding period. Modular by SHAPE opened its Western Australian facility and branch, its third facility nationally, and the manufacturing facility in Perth opened in October 2026. The business has already won its first project there after being included on a Western Australian Government modular panel supporting the Department of Education Modular Building Program.

In October 2026 SHAPE reached 1,000 people. Mr Marix-Evans described attracting and retaining people as the company's top priority as secured work and pipeline grow.

The 120-day pipeline of known project opportunities is above $1.7 billion, while the overall pipeline exceeds $4.5 billion, both measured as at 19 October 2026 and excluding the two businesses noted above. The company said it sees further growth potential across its diversification pillars and its core office work.

Where the Update Leaves SHAPE

The update sets out a first quarter in which project wins were $168.6 million higher than a year earlier and backlog increased 21% from 30 June. The post-quarter DigiCo award lifted backlog above $1.5 billion, more than double the $628.4 million recorded at the end of FY26. Modular revenue of $20.6 million, a third modular facility in Perth and a workforce of 1,000 people complete the picture of the quarter reported on 28 October 2026.