Southern Cross Electrical Engineering has reported strong growth in sales revenue and profit and signalled it is exploring further acquisitions across the country.
Southern Cross Electrical Engineering has reported strong growth in sales revenue and profit and signalled it is exploring further acquisitions across the country.
Net profit was up 44 per cent to a record $31.7 million for the year to June 2025.
That was on a 45 per cent jump in revenue to a record $801 million.
The financial year included the acquisition of east coast, fire safety contractor Force Fire Holdings for an enterprise value of up to $53 million in April.
Managing director Graeme Dunn said the group was looking to add further businesses.
“We are exploring a number of acquisition targets which we have the skillsets, experience and financial capacity to execute,” he said.
The group said new acquisitions would offer further geographic diversification and new capabilities.
Mr Dunn said this would also provide increased opportunities to cross-sell the group’s diverse capabilities.
The company has forecast 18-24 per cent growth in EBITDA (underlying earnings) in the current financial year to a range of $65 million to $68 million.
Mr Dunn said the earnings drivers included the group’s strong $685 million order book and opportunities in data centres, battery storage and industrial warehousing projects across the country.
Synergy’s 500-megawatt battery energy storage system at Collie was highlighted as a major contributor to the growth in revenue.
SCEE has been awarded over $200 million of work on the project.
Other significant revenue contributors were Western Sydney International Airport, the Shoalhaven Hospital redevelopment in NSW and NEXTDC’s SYD03 data centre in Sydney.
The group was awarded a substation package at the Alkimos desalination plant in WA.
Its commercial division has works underway with Coles and Woolworths while its resources division has various ongoing works for BHP, Rio Tinto, Sino Iron and Newmont.
One blemish on the group’s results was the decline in gross margin to 13.2 per cent compared to the prior year’s 15.0 per cent, in part because of legal costs related to a Sydney project.
SCEE’s shares dipped slightly today to $1.98 after trading as low as $1.40 early this year.
