[SINGAPORE] Civmec on Wednesday (Oct 26) posted a net profit after tax of A$10.5 million (S$9 million) for its first quarter ended Sep 30, down about 30.9 per cent from A$15.2 million for the corresponding period a year prior.
The construction and engineering company, which is listed in both Singapore and Australia, reported a 27.5 per cent decline in revenue to A$190.4 million for Q1 FY2026, from A$262.7 million for Q1 FY2025.
Civmec completed the acquisition of Luerssen Australia on Jul 1, and renamed it Civmec Defence Industries on Oct 1.
In Q1 FY2026, Civmec delivered an Arafura Class offshore patrol vessel to the Australian government. Shipbuilding for the Arafura Class vessels has transitioned to the company’s facility in Henderson, Western Australia, it said.
Another vessel is scheduled to be launched on Oct 31, and three more ships are under construction.
As at Sep 30, Civmec’s order book stood at about A$1.2 billion. The company said this reflects “ongoing replenishment driven by a stream of operationally critical but modestly sized awards”.
While previous expectations of reduced activity in the first half of FY2026 are materialising, Civmec said it is observing an uplift in activity heading into the second half.
Shares of Civmec on the Singapore bourse closed unchanged at S$1.16 on Wednesday, before the news.
