Overview of Duratec Limited's 1H FY24 results

Duratec Limited (ASX: $DUR) presented its 1H FY24 results on 23 February 2024, highlighting a record revenue result for Mining & Industrial, improved EBITDA and NPAT margins, solid EPS, and a strong balance sheet position. The company, a national leader in engineering, construction, and remediation, showcased its specialist technical expertise in upgrading and extending the life and use of infrastructure across various market segments including Defence, Building & Facade, Mining & Industrial, Energy, and other sectors. With a focus on long-term growth, Duratec's wholly owned subsidiaries and associate investments have contributed to its consistent growth and profitability over the years.

Executive commentary on 1H FY24 results

Duratec's 1H FY24 results reflect our commitment to delivering quality outcomes and our strategic focus on growth and profitability. We are pleased with the record revenue result for Mining & Industrial, improved margins, and the strong balance sheet position. Our operational highlights, including the acquisition and expansion of WPF and the strategic focus of MEnD Consulting, demonstrate our dedication to technical expertise and long-term opportunities. The outlook for FY24 remains optimistic, supported by a strong pipeline of stable, recurring revenue projects and a focus on strategic growth opportunities. We are well positioned to capitalize on accelerated Defence spend and secure further ECI procurement packages as they come to market. Overall, our outlook is positive, and we remain committed to delivering value to our shareholders and clients.

Summary of 1H FY24 results and outlook

Duratec Limited's 1H FY24 results presentation highlighted the company's strong financial position, with record revenue in Mining & Industrial, improved margins, and a 13% increase in net assets. The company's focus on long-term growth across various market segments, including Defence, Building & Facade, Mining & Industrial, and Energy, has contributed to its consistent growth and profitability. With a strong pipeline of stable, recurring revenue projects and a strategic focus on growth opportunities, Duratec remains optimistic about the outlook for FY24 and beyond. The company is well positioned to capitalize on accelerated Defence spend, secure further ECI procurement packages, and expand geographically. Overall, Duratec's outlook is positive, and it remains committed to delivering value to its shareholders and clients.