Company Reports

Infrastructure services provider Ventia reported a 9% increase in first-half 2026 underlying net profit after tax to AUD 128 million. Underlying EBITDA improved 10% to AUD 244 million, with a 110-basis-point jump in margin to 8.4% more than offsetting softer revenue. Shares rose over 5% Aug. 24.

Ventia is a leading infrastructure maintenance services provider in Australia and New Zealand. Through developing strategic relationships and a focus on safety, Ventia has built trust to deliver highly sensitive and complex projects across its sectors. Revenue has a visible stability with 70%-80% of Ventia’s next 12 months of revenue historically supported by work in hand.

Ventia shares have been on a tear, more than doubling since listing in 2021. Strong market trends, including population growth leading to higher urban densities, increased congestion, pressure on infrastructure, and sustainability and the energy transition, have proven fair winds.

Ventia is a leading infrastructure maintenance services provider in Australia and New Zealand. Through developing strategic relationships and a focus on safety, Ventia has built trust to deliver highly sensitive and complex projects across its sectors. Revenue has a visible stability with 70%-80% of Ventia’s next 12 months of revenue historically supported by work in hand.

Infrastructure services provider Ventia reported an 8% increase in 2025 underlying net profit after tax to AUD 237 million. Revenue was flat but a 40-basis-point improvement in EBITDA margin to 7.4% drove the result. The full-year dividend jumped 24% to AUD 23.2 cents, 85% franked. Shares rose 4%.

Ventia is a leading infrastructure maintenance services provider in Australia and New Zealand. Through developing strategic relationships and a focus on safety, Ventia has built trust to deliver highly sensitive and complex projects across its sectors. Revenue has a visible stability with 70%-80% of Ventia’s next 12 months of revenue historically supported by work in hand.

Ventia is a leading infrastructure maintenance services provider in Australia and New Zealand. Through developing strategic relationships and a focus on safety, Ventia has built trust to deliver highly sensitive and complex projects across its sectors. Revenue has a visible stability with 70%-80% of Ventia’s next 12 months of revenue historically supported by work in hand.

Infrastructure services provider Ventia closed out 2025 announcing two final contract wins, including a seven-year defense clothing services contract for AUD 935 million and an 18-month NSW Government cleaning contract for AUD 100 million. Total announced wins for 2025 came in at AUD 7.2 billion.

Urban and infrastructure services providers Downer and Ventia have been awarded large new Australian defense contracts of AUD 3.05 billion and AUD 2.70 billion, respectively. In each case, the initial term is for six years, with extension options potentially stretching to 10 years total.

Ventia is a leading infrastructure maintenance services provider in Australia and New Zealand. Through developing strategic relationships and a focus on safety, Ventia has built trust to deliver highly sensitive and complex projects across its sectors. Revenue has a visible stability with 70%-80% of Ventia’s next 12 months of revenue historically supported by work in hand.

Infrastructure services provider Ventia announced a 16% increase in first-half fiscal 2025 underlying net profit after tax to AUD 117 million year on year. Softer revenue in all segments bar infrastructure services was more than offset by improved margins. Fiscal 2025 earnings guidance is increased.

Ventia is a leading infrastructure maintenance services provider in Australia and New Zealand. Through developing strategic relationships and a focus on safety, Ventia has built trust to deliver highly sensitive and complex projects across its sectors. Revenue has a visible stability with 70%-80% of Ventia’s next 12 months of revenue historically supported by work in hand. Work in hand as at July 2021 stood at AUD 15.5 billion.

Australian infrastructure services provider Ventia announced AUD 3.3 billion in new and extended contracts for the six months to June 2025. This includes a AUD 2.1 billion maintenance and connection contract with NBN over five years.

Ventia is a leading infrastructure maintenance services provider in Australia and New Zealand. Through developing strategic relationships and a focus on safety, Ventia has built trust to deliver highly sensitive and complex projects across its sectors. Revenue has a visible stability with 70%-80% of Ventia’s next 12 months of revenue historically supported by work in hand. Work in hand as at July 2021 stood at AUD 15.5 billion.

Australian infrastructure services provider Ventia reported a 16% increase in 2024 underlying net profit after tax to AUD 220 million. The result featured an 8% jump in revenue to AUD 6.1 billion and a 20 basis point lift in EBITDA margin to 7.2%.

Ventia is a leading infrastructure maintenance services provider in Australia and New Zealand. Through developing strategic relationships and a focus on safety, Ventia has built trust to deliver highly sensitive and complex projects across its sectors. Revenue has a visible stability with 70%-80% of Ventia’s next 12 months of revenue historically supported by work in hand. Work in hand as at July 2021 stood at AUD 15.5 billion.

The Australian Competition and Consumer Commission alleges that no-moat Ventia and Spotless facility services, a subsidiary of no-moat Downer, have been involved in price fixing relating to estate management for the Department of Defence. The proceedings also allege senior executives of both companies are involved in the alleged misconduct.

No-moat Australasian infrastructure services provider Ventia reported a 15% increase in first half 2024 NPAT to AUD 101 million, marginally beating our expectations. The market was apparently disappointed in the result, the shares down nearly 7% on the day. We increase our fair value estimate by 6% to AUD 4.50 and continue to view the shares as somewhat undervalued in 3-star territory.

Ventia is a leading infrastructure maintenance services provider in Australia and New Zealand. Through developing strategic relationships and a focus on safety, Ventia has built trust to deliver highly sensitive and complex projects across its sectors. Revenue has a visible stability with 70%-80% of Ventia’s next 12 months of revenue historically supported by work in hand. Work in hand as at July 2021 stood at AUD 15.5 billion.

No-moat Ventia has recently been awarded an AUD 100 million contract with NBN Co over three years and an AUD 150 million contract with Western Power over five years. These are Ventia’s first contract announcements this calendar year. Their combined AUD 250 million falls considerably short of the AUD 860 million and AUD 1.2 billion in wins announced by this time in 2023 and 2022, respectively.