FY26 Highlights
· Positive Underlying EBITDA: $6.8 million, a $47 million turnaround on FY25
· Momentum built through year: positive EBITDA performance in every month of the year except the December and January shutdown period. Strongest quarter in Q4 ($4.3m in underlying EBITDA)
· Cost base reset: costs before one-off items reduced 23% to $193.5 million, while revenue was 4% lower at $200.3 million, reflecting a smaller team. Gross profit tripled to $51.9 million (FY25: $17.2 million)
· Reduced statutory (bottom-line) loss: Statutory net loss after tax of $9.7 million, down from $67.4 million. One-off costs fell to $7.0 million (FY25: $29.2 million), mainly employee termination costs of $5.3 million
· Capital raise to fund investment: $42.9 milion raised in new equity to invest in digital, data and AI-enabled services, new market segments including in technology and cyber
· Client growth: New client wins across all markets, particularly strong performance in South Australia, Western Australia and Queensland. [Forward pipeline of more than $1 billion in opportunities]
· Growth strategy: Scyne’s 2030 strategy is to grow to be a leading technology-led professional services by 2030
| $m |
FY26 |
FY25 |
Change |
| Revenue |
200.3 |
209.6 |
–4% |
| Costs (before one-offs) |
193.5 |
250.1 |
–23% |
| Underlying EBITDA |
6.8 |
(40.5) |
+47.3 |
| Q4 Underlying EBITDA |
4.3 |
– |
– |
| One-off costs (“other expenses”) |
7.0 |
29.2 |
–76% |
| Statutory net loss |
(9.7) |
(67.4) |
+57.7 |
John Ball, Scyne Chief Executive commented:
“Our focus in FY26 was to stabilise and win the trust and confidence of clients. The difficult decisions on resetting costs at the start of the year proved a turning point. We deliver positive, and progressively better earnings, each month, outside the Christmas shutdown. That momentum gave us the confidence to raise new capital to invest in growth. Contrary to some of the fears about the broader consulting market, we are seeing strong opportunities, particularly in digital and AI-enabled services – from productivity gains to incredible improvements in customer experience. Our growing expertise here us already opening new relationships with both new and existing clients. FY26 was about recovery and starting our momentum. FY27 is about growth.” While alternative measures highlight its enormous value - from the 5 billion hours Australians spend travelling on it each year to the $10-$22 trillion it might cost to replace it – it is the value it enables that matters.
It is time to shift the dialogue from the cost of transport towards its value: in our daily lives, in connecting communities, and in supporting national resilience and our economy. With a clearer understanding of true value, we can properly plan for and invest in its future.
Media contact:
Lachlan Johnston
0499 953 336
