Perenti Limited (AUSDF) Q2 2026 Earnings Call Transcript

SA Transcripts158.56K FollowersFollow5ShareSaveCommentsPlay Earnings CallPlay Earnings Call Perenti Limited (AUSDF) Q2 2026 Earnings Call February 22, 2026 6:00 PM EST Company Participants Mark Norwell - Group MD, CEO & DirectorMichael Ellis - Chief Financial Officer Conference Call Participants Sumeet Ozarde Presentation Mark NorwellGroup MD, CEO & Director Good morning, everyone, and thank you for joining the Perenti FY '26 First Half Results Call. My name is Mark Norwell. And presenting alongside me today is Mike Ellis, our CFO. Today, we'll take you through our first half performance and outlook for the remainder of FY '26. Overall, Perenti has delivered as per expectations and remains well-positioned to continue delivering strong earnings and cash flow for the year. Starting on Slide 3, our diversified portfolio. For those who haven't been following Perenti closely, we are a diversified global mining services group with leading positions in contract mining, drilling services and mining and technology services. For example, our underground mining business, Barminco, is a top 2 global underground hard rock mining contractor. And our drilling division, comprising 5 specialist brands, is a top 3 global drilling business. We believe that a sustainable business is one that consistently delivers for its people, its clients, the communities in which it operates and ultimately delivers enduring value for shareholders. To achieve this purpose, we have built a diverse company with 13 brands operating across 12 countries. Approximately 2/3 of our revenue is generated from underground mines, and currently, our work in hand is strongly weighted to gold projects. Our diversified portfolio, scale and market share creates a resilient business that can deliver consistent performance through market cycles. Turning to the first half financial results on Slide 4. The first half of FY '26 reflects consistent delivery as we continue to evolve our portfolio and strengthen our balance sheet. Revenue was similar to the first