Macmahon reports strong FY25 results, announces leadership transition

Macmahon Holdings Limited (ASX: MAH) successfully passed all resolutions at its 2025 Annual General Meeting, including the adoption of the remuneration report and the re-election of Greg Evans as a director. The company reported record revenue of A$2.4bn, a 20% increase, and underlying EBITDA of A$387.4m, up 10%, achieving its ninth consecutive year of guidance. Net debt decreased by 11% to A$162.5m, and total dividends increased by 43% to A$1.50cps, with the FY26 payout ratio target lifted to 30%-45%.

The AGM also marked a leadership transition, with Hamish Tyrwhitt retiring as chair and non-executive director, effective October 24, 2025. Greg Evans will succeed him as chair. Suzan Pervan joins as a new independent non-executive director from November 1, 2025, bringing the board composition to six directors.

FY25 highlights included securing A$900m in surface mining extensions and A$579m in underground contracts, including key projects in Australia and Indonesia. The acquisition and integration of Decmil significantly expanded the Civil Infrastructure segment, which, along with other strategic initiatives, contributed to exceeding the ROACE target of 20%, reaching 20.5%. The company targets a ROACE of >25% for FY26.