Together wego further.

Annual ReportFinancial Year 2025
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A word from our leaders

FY2025 was a year of disciplined growth and deeper partnership. Together with our customers and communities, we turned experience into progress — and built the strongest order book in our history.

Across more than 400 sites, our people delivered essential services that communities rely on every day — safely, sustainably and with the ingenuity that defines Ventia. We grew earnings, expanded margins and returned more to shareholders, while investing in the capabilities that will carry us further.

None of it happens alone. It happens together — and that's exactly how we intend to keep going.

Dean Banks
Group Chief Executive Officer
David Moffatt
Chair
Dean Banks and David Moffatt
Our purpose

We make essential work. Making infrastructure work for our communities — creating lasting value for the people and places we serve.

Across more than 400 sites in Australia and New Zealand, over 35,000 people operate, maintain and manage the essential infrastructure that makes modern life possible. From transport and energy networks to defence, schools and hospitals — you might not see us, but we're always there.

FY2025 performance

A year of disciplined, profitable growth.

Record
0B Work in Hand
$22.1 billion of secured future work
Up 14.4% — the largest order book in the company's history
$0B revenue
Group revenue of ~$6.1 billion
Broad-based growth across all four sectors
+13%
$0M
NPATA
Underlying profit after tax & amortisation, up 13%
$0M
Underlying EBITDA
Margin expanded to 8.7%
+47.6% / 3yr
0c / share
Total dividend declared
Final dividend up 18% · a 75% payout of NPATA

Revenue growth — FY21 to FY25

Group revenue, A$ billion · illustrative trend

Revenue by sector

Share of FY25 group revenue · illustrative
0%
Cash conversion
Up 2.2pp — strong quality of earnings
0%
FY26 revenue secured
Visibility into the year ahead
0%
Dividend payout of NPATA
Net debt / EBITDA a conservative 1.3x
How we deliver

Four sectors. One promise.

We operate across the infrastructure that communities depend on every day — combining deep expertise with practical, partnership-led delivery.

Defence & Social Infrastructure

Caring for the places that serve us all

Integrated facilities management across defence, education, health, housing and local government.

Infrastructure Services

Keeping essential networks running

Maintenance solutions for utilities, resources and industrial assets that power daily life.

Telecommunications

Connecting Australia & New Zealand

End-to-end telecom infrastructure — the largest provider of its kind across the region.

Transport

Moving people & freight, safely

Asset management for motorways, tunnels, rail, ports and airports.

Sector performance

Growth you can see, in every sector.

Social infrastructure buildings
Defence & Social Infrastructure

Trusted to run the places communities rely on

New whole-of-life facilities contracts and strong renewals lifted recurring revenue, with high customer satisfaction across defence, health and education estates.

$1.7B
Sector revenue · +9% YoY
96%
Contract renewal rate
120+
Sites under management
Industrial facility
Infrastructure Services

Keeping utilities, energy and resources moving

Our largest sector grew on the back of long-term utilities and energy-transition programs, with disciplined delivery driving margin expansion.

$2.1B
Sector revenue · +12% YoY
8.9%
Sector EBITDA margin
$3.4B
Work in hand
Network operations centre
Telecommunications

Powering the region's digital backbone

As the largest telco infrastructure services provider in ANZ, we extended fibre, mobile and fixed-network programs while improving build efficiency.

$1.5B
Sector revenue · +7% YoY
#1
Provider across ANZ
11k+
Network jobs delivered
Transport infrastructure bridge
Transport

Safer journeys on roads, rail and ports

Motorway, tunnel and rail maintenance contracts performed strongly, with new technology lifting asset availability and safety outcomes.

$0.8B
Sector revenue · +6% YoY
99.8%
Network availability
7
Major motorway & tunnel assets
Sustainability

Creating value that lasts.

Lowering our footprint

A 24% reduction in Scope 1 & 2 emissions against our 2021 baseline, with a clear pathway to net zero.

Powering the transition

Growing share of fleet and operations powered by renewable energy, and delivery partner on major energy-transition programs.

Stronger communities

Local employment, Indigenous partnerships and supplier diversity — with 40%+ of our people based in regional and rural areas.

Wind turbines at sunset

Scope 1 & 2 emissions — index vs 2021 baseline

Lower is better · illustrative trajectory

Renewable energy in operations

Share of energy from renewable sources · illustrative
Safety is our license to operate

The health and safety of our people is Ventia's highest priority — every site, every shift.

Total Recordable Injury Frequency Rate (TRIFR)

Per million hours worked · lower is better · illustrative
37%
Reduction in TRIFR since FY21
8
Metrics in our Elevate Index, tracking safety leadership beyond lag indicators
1.2M+
Safety interactions and hazard reports logged by our teams
Our people

A workforce as diverse as the communities we serve.

0%
Women in our workforce
Up from 29% in FY21
0%
Women in leadership
On track for our 40% target
0+
Nationalities
Across our Australian & NZ teams
0%
First Nations employment
Backed by our Reconciliation Action Plan
Project spotlight
Major infrastructure project

Sydney Metro West — integrated systems & maintenance

An eight-year partnership to maintain tunnel, station and systems infrastructure across one of Australia's largest transport programs — delivered safely, sustainably and with local jobs at its heart.

$1.2B
Total contract value
8 yrs
Partnership term
600+
Local jobs supported
35%
Lower-carbon delivery target
Ventia at a glance

People are at the heart of our success.

35,000+
Employees and subcontractors making essential work happen
400+
Project sites across Australia and New Zealand
40%+
Of our people work in regional and rural areas
1956
A heritage of essential work dating back nearly seven decades
ASX 200
An ASX Top 200 company, with a secondary listing on the NZX
What guides us

Our brand framework.

Our purpose
Making infrastructure work for our communities
Creating lasting value for the people and places we serve.
Our strategy
Redefining Service Excellence
A commitment to innovative, sustainable and customer-focused outcomes.
Our promise
Together we go further.
United by our shared ambition and the impact we can all create together.
Our values
Collaboration · Integrity · Challenge · Ingenuity
We achieve more together, always do what's right, drive to deliver, and create better ways.
Our priority
Safety is our license to operate
The health and safety of our people is Ventia's highest priority.
Our foundation
People are at the heart of our success
A workplace where everyone feels safe, valued, heard and empowered to succeed.
Looking ahead

Momentum into FY2026.

00%
Underlying NPATA growth guidance for FY26
0%
Of FY26 revenue already secured
01

Grow with our customers

Convert a record pipeline into long-term, partnership-led contracts across all four sectors.

02

Deliver the transition

Scale our role in energy, decarbonisation and digital infrastructure programs.

03

Invest in our people

Keep everyone safe, build capability, and make Ventia a place people choose to stay.

Together wego further.