Shares in SRG Global rose by mora than 10 per cent on Tuesday morning, following a series of positive updates to the market.
Shares in SRG Global rose by mora than 10 per cent on Tuesday morning, following a series of positive updates to the market.
As of 10.50am AWST, SRG shares were trading at $3.58, a record high for the company, since listing on the ASX back in 2007.
The David Macgeorge-led engineering services firm told investors it would likely reach the top end of its recently upgraded FY26 EBITDA guidance range of $164 million to $168 million – citing multiple factors, including its diversified operating model and blue-chip client base.
Along with this, SRG said it had set its FY27 EBITDA guidance range for $190-200 million.
SRG also provided an update regarding a suite of awarded contracts with blue-chip clients, valued at $1.85 billion, across several sectors.
Water
SRG will facilitate multiple water infrastructure contracts for WA’s Water Corporation. Under this work, the company will replace pipelines and upgrade valves within the Goldfields and Agricultural Water Supply Scheme. It will also upgrade Canning Dam’s anchors.
A series of water-based contracts in Queensland were also booked.
Energy
SRG booked seven and two-year deals with Origin Energy and Delta Electricity respectively, where it will provide asset integrity services work in Queensland and NSW.
Work under these contracts is expected to be completed in 2033 and early-2028.
Defence
SRG said its ongoing infrastructure works across WA’s defence sector remained ongoing and would be finished by the end of this calendar year.
Industrial and Resources
Headlining its secured contracts within this sector is an eight-year term contract with Andrew Forrest-led Fortescue, where SRG will provide a series of multi-disciplinary maintenance services across the iron ore miner’s Pilbara assets. Ancillary service-based works will be undertaken by its Bugarrba Aboriginal JV partner.
Additionally, SRG has booked a five-year deal with Alcoa through to 2031, to provide asset integrity and reliability-based work at its South West operations.
The company also secured three Queensland contracts with BHP Mitsubishi Alliance, Wolfram Limited and Covalent Lithium.
Health and Education
SRG has booked a series of specialist facades and structure-based contracts, in relation to a series of WA-based assets – the Women and Babies Hospital (with Webuild), Curtin University’s lecture facility (with Lendlease) and City link student accommodation in Perth’s CBD.
Work across these contracts will be completed between July 2027 and mid-2028.
Ports and marine
A specialist marine construction has been secured with Kerry Stokes-backed BCI Minerals in relational to the Mardie salt and potash project’s export jetty, with works expected to be finished by October.
Data Centres and Commercial
SRG secured a structures contract, along with CTC in relation to the Maddington Data Centre. Works are already under way and will be finished next month.
Alongside Built, the company is also facilitating a specialist facades contract for the King William Tower 2 in Adelaide, with that work to be finished by February 2028.
Aiming for a strong finish
“We are pleased to have secured these significant contracts across Australia in a broad range of sectors with blue-chip repeat clients,” Mr Macgeorge said.
“These contract awards are a further demonstration of our market-leading capabilities as a truly diversified infrastructure services company.”
During the first half of FY26, SRG generated $743.9 million in revenue, a rise of 20 per cent from the prior corresponding period.
Aside from announcing its upgraded FY26 EBITDA guidance, the company said it had $4.2 billion of work in hand – a record – along with a diverse-based opportunity pipeline valued at approximately $11.5 billion.
