Macmahon Holdings has delivered a record result for FY26, including an eight per cent lift in revenue to $2.6 billion, driven by growth in its underground mining and civil infrastructure businesses.

Underlying EBITDA for the year was $393.8 million (up 2 per cent), EBIT(A) $190.1 million (up 11 per cent) and statutory net profit after tax lifted 37 per cent to $101.1 million.

In Queensland, the past year has seen the company secure a $792 million three-year contract extension at the Byerwen coal mine, with a two-year extension option to increase value to $1.32 billion.

Macmahon also won $150 million in work for the restart of surface mining at Mount Carlton and a $100 million LOI for underground mining at the site.

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Macmahon (ASX: MAH) chief executive officer and managing director Michael Finnegan said this was the tenth consecutive year the company had met or exceeded market guidance.

“Importantly, we have again delivered on our objective of improving return on average capital employed and are tracking well towards our target of 25 per cent,” he said.

“This is underpinned by our growth strategy focused on continuing to diversify the business by expanding our addressable market and expanding our service offering across the mining value chain.

“Our surface mining business was again a strong contributor, with several significant contract extensions and new wins during the year. These included new projects in Indonesia and Australia, and a $792 million three-year contract extension at Byerwen.

“Underground mining demonstrated strong growth, securing over $1 billion in new contracts in Australia and Indonesia. The underground business is well positioned for continued growth over the next two years, aligned to our strategic target of underground achieving a run rate of $750 million of revenue per annum by the end of FY28.

“Our civil infrastructure business has maintained its positive momentum and continued to deliver strong growth, securing over $500 million in new work in the renewables, government infrastructure and resources sectors, and being successfully selected for the Rio Tinto Pilbara earthworks panel.”

Guidance for FY27 is for increased revenue of $2.85 billion – $3.05 billion and underlying EBIT(A) of $205 million – $225 million.

The company said it had entered FY27 with a diversified order book of $5.9 billion, $2.2 billion of work in hand secured for FY27, and was supported by a strong balance sheet.

The tender pipeline of identified opportunities has grown to $25 billion, of which $13.8 billion is expected to be awarded in the next 12 months.