PWR announces board changes, strong FY26 outlook despite FY25 revenue dip

PWR Holdings Limited announced its 2025 Annual General Meeting outcomes, including key board changes and a positive trading update. Kees Weel retired as managing director but was elected non-executive chairman. Kristen Podagiel was appointed lead independent director, receiving an additional $20,000 remuneration. Kym Osley joined the nomination and remuneration committee, replacing Roland Dane, and Alexandra Coleman took over as company secretary from Lisa Dalton.

For FY25, PWR reported revenue down 6.7% to $130.1m due to factory relocation and Cyclone Alfred. Despite this, the company maintained a strong balance sheet and is positioned for growth in FY26 with a robust order book in Motorsports and Aerospace & Defence (A&D). Q1 FY26 saw 6% revenue growth, with momentum strengthening in September.

The company anticipates a stronger second-half skew in FY26 NPAT, with the US government project delivery expected in Q2 and Q3. PWR projects modest NPAT margin improvement in FY26, driven by higher volumes and operating leverage, but partly offset by US tariffs (estimated ~$1.5m), US cyber accreditation costs (estimated ~$0.8m), CEO transition costs (estimated ~$0.5m), and Australian factory expenses.