Henderson-based Civmec says while pre-existing predictions surrounding a quieter first half to FY26 have eventuated, it is confident things are about to turn.
Dual-listed Civmec recorded a 34 per cent net profit drop to $42.5 million last financial year, but insists the future is bright with a record order book worth $1.25 billion.
Construction and energy services provider Civmec posted a net profit of $8 million during its third quarter of the 2025 financial year, down from $17.1 million, 12 months prior.
Henderson-based Civmec has signed a deal to acquire Luerssen Australia, the shipbuilder contracted to make patrol vessels for the Royal Australian Navy.
Henderson shipbuilder Austal, construction and engineering company Civmec and Spain's Navantia Australia have joined forces in a bid to deliver six warships for the Royal Australian Navy.
Civmec has boosted its first-half net profits by 25 per cent and has recorded a positive cash position for the first time since 2016, according to its latest financial results.
Civmec has erected the first steel for its new $80 million assembly hall in Henderson today, with Prime Minister Scott Morrison in attendance for the event.
German shipbuilder Lürssen has unveiled plans to establish a joint venture with local contractor Civmec to build 10 offshore patrol vessels at Henderson, two weeks after it failed to strike a deal with experienced shipbuilder Austal.
German shipbuilder Lürssen has awarded Civmec a key contract for the Royal Australian Navy offshore patrol vessels, which are being built as part of a $3.6 billion federal government program.
Perth companies Austal and Civmec are looking forward to working on the construction of 10 navy vessels at Henderson but the amount and type of work they will undertake is unclear after the federal government selected Germany's Luerssen as its preferred designer and builder.
Family-owned German shipbuilder Lürssen will be setting up shop in the Australian Marine Complex through a partnership with Civmec and government-owned ASC.
Civmec has begun constructing what it says will be Australia's biggest undercover shipbuilding facility in Henderson, confident it will have enough work even before offshore patrol vessel contracts are awarded by the federal government later this year.
A currency depreciation and weak market conditions for resources companies have driven net profit after tax down by 42.9 per cent at Henderson-based contractor Civmec.
Engineering and construction contractor Civmec said today it planned to spend up to $80 million establishing a new shipbuilding facility at Henderson, and use it as a springboard into the federal government's $89 billion naval build in the coming decade.
Local manufacturer Civmec has announced plans to further diversify its services, with the formation of a new defence business unit and a $30 million spend to expand its Henderson facilities.
Perth-based engineering and construction contractor Civmec has reported a 37.7 per cent rise in net profit for the September quarter to $S11 million, and a 140 per cent leap in revenue to $S170.2 million.
