Downer EDI records 82% profit boost, launches $230m buyback
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The news: Infrastructure group Downer EDI delivered $149.1 million in net profit after tax for the 2025 financial year, an 81.6% improvement year-on-year, and announced an on-market share buyback of up to $230 million.
The numbers: The result came in higher than last year's tally of $82.1 million, but missed consensus estimates of $219.62 million, according to Visible Alpha figures.
Total revenue was down 4.7% year on year, from $11.1 billion to $10.5 billion.
Downer will pay full-year dividends of 24.9 cents per share, up from 17 cents per share in FY24 and exceeding estimates of 22 cents per share.
The context: Downer divested several non-core businesses during the year, and agreed to sell its 49% interest in the Keolis Downer joint venture last month.
The company said the divestments "largely complete" its portfolio simplification program, which has refocused the group on core markets and growth opportunities "aligned to our technology strengths and market leading positions".
What they said: "By simplifying our portfolio, focusing on delivery, enhancing risk management, and embedding a culture of accountability, we are setting up for long-term value creation," said managing director and chief executive Peter Tompkins.
"While we are making steady progress in our turnaround, there is more work to do to reach our potential."
The source: ASX
