Perenti announces CEO transition, strong financial results and strategic outlook

Perenti Limited (ASX:PRN) announced today, October 10, 2025, that managing director & chief executive Mark Norwell will step down in 2026, initiating a succession process for the global mining services group. This comes as the company reports a fourth consecutive year of meeting or exceeding guidance, with FY25 EBIT(A) reaching A$333.5m on revenue of A$3.49bn, and record free cash flow of A$195m.

The company's performance has allowed for an increased final dividend of 4.25 cents per share, bringing the total FY25 dividend to 7.25 cents, a 21% increase from FY24. Perenti also reduced its leverage ratio to below 0.5x, demonstrating significant balance sheet strength. Shareholder approval was granted for all resolutions at the 2025 Annual General Meeting, except for Resolution 6, which was withdrawn due to the CEO succession announcement.

Perenti also outlined its refreshed strategy for FY26 and beyond, targeting annual revenue growth of 5-10%, EPS growth exceeding revenue growth, and a return on invested capital above its weighted average cost of capital. The company projects FY26 revenue between A$3.45bn and A$3.65bn, EBIT(A) of A$335m to A$355m, and free cash flow greater than A$160m.