Downer EDI Ltd

DOW: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Downer Earnings: Cost Discipline Counters Revenue Decline, With Sound Longer-Term Outlook

Mark Taylor

Aug 20, 2026

Urban services firm Downer posted a 13% increase in underlying fiscal 2026 NPAT to AUD 285 million. A 540-basis-point improvement in underlying EBITDA margin to 6.5% and lower depreciation more than offset a 9% revenue decline. The market reacted savagely, with shares down 13% intraday Aug. 20.

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Downer EDI Ltd

Downer Earnings: Cost Discipline Counters Revenue Decline, With Sound Longer-Term Outlook

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