Underground mining contractor Mastermyne has exceeded guidance for FY26, hitting $237.7 million in revenue (unaudited) and reporting underlying EBITDA of $20.3 million.

This was above the previously announced upper end of the guidance ranges of $230 million and $18.0 million respectively.

The company noted a strong performance in the second half of the year, reflecting high levels of strata consolidation activity and increased production activity across a number of its larger projects.

“We are very pleased with the company’s performance in FY26, delivering revenue and EBITDA above our guidance ranges and a material step-up from FY25,” Mastermyne managing director and chief executive officer Jeff Whiteman said.

“The acceleration in the second half is particularly encouraging and reflects the strength of our team and capabilities, and the markets we operate in. We enter FY27 with a strong order book, a pipeline of near-term opportunities and a healthy balance sheet.”

Mastermyne’s order book stands at $432 million, up from $314 million at the end of June last year.

The pipeline of targeted opportunities has increased to $1.5 billion, of which $823 million is considered near-term (representing contracts where a decision to award is expected within 12 months).