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Highlights

  • Symal Group reported revenue of AUD 888.6 million and a net profit of AUD 34.6 million in FY25.
  • Symal agreed to acquire McFadyen Group.
  • For FY26, the company has set normalised EBITDA guidance of AUD 117–127 million.

Symal Group Limited (ASX:SYL) provides contracting and technical services across Australia’s infrastructure, energy, utilities, and defence sectors. Founded in 2001 and based in Melbourne, it operates a vertically integrated model.

In the financial year 2025 (FY25), the company reported revenue of AUD 888.6 million compared to AUD 755.4 million in FY24, up 17.6% YoY. Revenue growth was supported by contracting services, plant hire expansion, and acquisitions including Ascot Bin Hire. Net profit for the period reached AUD 34.6 million, reflecting a decline of 4.2% YoY, with pressures stemming from project timing and inter-company eliminations.

Receipts from customers were AUD 958.5 million in FY25 compared to AUD 821.4 million in FY24, a change of 16.7%. Normalised cash conversion was 121%, and net cash stood at AUD 46.1 million as of 30 June 2025.

Business Update

Through an ASX update dated 17 September 2025, the company announced that it has agreed to acquire McFadyen Group, a Queensland-based water infrastructure contractor, for AUD 11 million. McFadyen’s operation aligns with SYL’s plant hire business, increasing capacity and specialist capabilities. The transaction, funded through cash reserves and asset financing, is expected to complete in 2QFY26.

Key Positives and Negatives

Debt-to-equity ratio decreased to 0.91x in FY25 from 1.51x in FY24, while the current ratio increased to 1.29x in FY25 from 1.18x in FY24. Operating margin declined to 6.1% in FY25 from 7.8% in FY24, and asset turnover ratio fell to 1.96x in FY25 from 2.19x in FY24.

Business Outlook

SYL has increased its FY26 normalised EBITDA guidance to AUD 117–127 million, incorporating McFadyen’s pro-rata contribution. The company’s recent acquisitions and the launch of its in-house electrical contracting business, Searo, extend its activities across utilities, energy transition, and electrical contracting.

Profitability and efficiency is expected to be driven by project margins, higher plant utilisation, and technology initiatives such as AI, supported by a work-in-hand pipeline of AUD 1.76 billion.

Share Performance of SYL

SYL shares closed at AUD1.855 per share on 29 September 2025, recording an intraday gain of 3.92%. In the last three months, the stock gained 7.84%, and up by 7.84% in the past six months. The 52-week high of SYL is AUD 2.090, recorded on 21 Feb 2025, and the 52-week low is AUD 1.360, recorded on 07 April 2025.

Support and Resistance Summary

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, and currency, is 29 September 2025. The reference data in this report has been partly sourced from EODHD/Others.

 

Technical Indicators Defined:

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.