GNP - GenusPlus Group

[System]

Genus is an end to end specialist service provider for essential power and telecommunications infrastructure. Genus provides an integrated service offering via its four key complementary business segments to its customers in the resources, power, utilities, and telecommunications sectors across Australia.

Its four key business segments and their focuses are:

1. Powerlines Plus (contributed 73% of FY20 revenue) which provides design, construction and maintenance of overhead transmission and distribution lines, switchyards, and substations;

2. Diamond (contributed 19% of FY20 revenue) which provides construction and maintenance of underground telecommunications and power infrastructure;

3. ECM (contributed 3% of FY20 revenue from Genus' ~6 months of ownership) which provides electrical and instrumentation services, as well as mechanical fabrication, assembly, and installation; and

4. Proton Power (contributed 5% of FY20 revenue) which provides HV testing and commissioning services.

Powerlines Plus is the founding and still the core platform business within Genus and the majority contributor of its earnings and growth. Whilst Genus has expanded its capacity and capabilities with the addition of Diamond, ECM and Proton Power, these businesses are still in their infancy and have yet to contribute in a significant way to Genus' earnings.

Genus is headquartered in Belmont, Perth, with a number of offices or depots across Western Australia, South Australia, Queensland and New South Wales.

It is anticipated that GNP will list on the ASX during December 2020.

We are a Specialist Power Solutions Provider in Australia | Genus Group

We cover the full project life-cycle, from design & engineering to commissioning, maintenance & decommissioning of power & communications infrastructure assets. Contact us Today!

www.genusplusgroup.com.au

 

[Dona Ferentes]

Listing at 12:00 today. Raising nearly $33million at $0.96 through Bell Potter

Principal Activities

Electricity and telecommunications infrastructure construction and maintenance

This might prove to be an interesting sector, with possible accumulation and takeover activity. Not sure a "National Champion" could emerge, though.

A friend works in Ecowise in the ACT (... a broad range of services, including structured communications cabling (optic fibre and copper systems), roadway lighting, industrial pumps and controls, traffic signals maintenance, and classic commercial and industrial electrical contracting, [which now] extends to electrical infrastructure reticulation in the NSW contestable market as well.) Spun out of ACTEW/ AGL, its owners would be itching to monetise their 20 year run?

 

[Dona Ferentes]

bread and butter

 

[Tommy Shelby]

Genus continues its roll up strategy with the acquisition of 50% of Blue Tongue Energy for $1m in Dec.

I know that normally these strategies get out of hand and blow up - generally growth is the enemy of profit and acquired growth can be even more detrimental to profit.

That said, GNP has a 43% ROCE so they have great returns on capital invested into the business. I'd say its a good sign of a competitive advantage and providing some pricing power. If they can keep reinvesting in the business while maintaining those returns then it will be a great performer for shareholders.

It's also trading on a fairly low multiple and anticipates strong revenue growth which is always a great combo.

Brief on BT Energy below.

 

[Tommy Shelby]

New Contract win

 

[Dona Ferentes]

another electrical forward facer.

 

[Dona Ferentes]

still going well ... $2.90

HY2025 HIGHLIGHTS:
• Record Revenue of $333 million – up 33% on PCP of $250 million.
• Record Normalised EBITDA of $27.4 million – up 25% on PCP of $21.9 million.
• Record NPAT of $13.7 million – up 51.4% on PCP of $9.0 million.
• Cash inflow from operations of $24.5 million.
• Cash balance of $89.9 million down from $101 million and net cash of $64.1 million down from $77.3 million at June 2024. CommTel and Partum acquisitions funded with $15.8 million cash.
• Basic earnings per share of 7.7 cents per share up 51% on PCP
• Record orderbook of $1.5 billion plus recurring revenue forecast to be $276 million in FY25.
• Strong tendered pipeline at $2.2 billion.
• Budgets and opportunities in excess of $4 billion.

 

[Dona Ferentes]

bread and butter

... and on track. ...$2.75

HIGHLIGHTS:
• Genus to acquire 100% of MGC Group Holdings (WA) Pty Ltd for an upfront cash consideration of A$10.25m and contingent earn-out payments of up to A$10.5m subject to achieving strong growth targets in CY25 to CY27
• Upfront consideration implies FY24 multiple of 2.6x Normalised EBITDA and expected to be immediately earnings accretive for Genus
• MGC is a WA-based specialised provider of safety critical rail systems including overhead line equipment, signalling, electrical, and communications to Tier 1 customers across Metro, Mining and Freight sectors
• MGC has recently strengthened its capability in OLE services through its acquisition of Rhomberg’s West Australian business
• MGC provides Genus a strategic entry into the Rail sector which has significant growth potential
• MGC’s overhead line equipment, electrical and communications service offering in the Rail sector is highly complementary with other Genus divisions
• MGC’s principals Chris Newton and Mark Byrne will continue to manage the business, with all staff offered continued employment under Genus

 

[Dona Ferentes]

$3.76

Increase in EBITDA guidance for the FY2025 financial year.
The revised FY2025 guidance incorporates a better than forecast financial result for the June 2025 quarter resulting from a combination of projects completing ahead of expectations and the addition of a number of acquisitions contributing to the second half of the financial year.

Based on the Company’s latest financial performance and market indicators, Genus anticipates growth in normalised FY2025 Organic EBITDA, compared to normalised FY2024 EBITDA of $45.3 million, to be between 28% - 32%, plus the addition of Acquisition EBITDA of $4-6 million.

The upgraded guidance, recent contract awards, full year contributions from acquisitions, strong orderbook and increased momentum in industry tailwinds, supports management’s confidence in the continued growth and resilience of the business in the current market environment and its continued growth in FY2026 and beyond.

Genus remains committed to delivering long-term value to our shareholders and stakeholders. We believe that our continued focus on safety, customer satisfaction and expertise including to support the national energy transition will sustain our growth trajectory and drive shareholder returns.

Genus Awarded Arc Infrastructure Upgrade Works
Genus is pleased to announce that the recently acquired MGC Solutions has had a successful award of a multi-year agreement with Arc Infrastructure to support the Level Crossing Upgrade and Renewals Project, estimated at approximately $20 million.

Under this agreement, MGC Solutions will provide comprehensive end-to-end design and construction services for significant upgrades to 46 level crossings within Arc Infrastructure's network as part of a rolling five-year program.
The scope of work encompasses the following core disciplines:
• Procurement and Design;
• Civil and Structural Construction;
• Electrical Installation; and
• Testing and Commissioning

This Project will deliver greater public safety at these critical interfaces between the public and the Arc Networks and further reinforces the partnership between MGC Solutions and our valued client, Arc Infrastructure.

 

[Dona Ferentes]

another electrical forward facer.

$3.85

HIGHLIGHTS:
• Genus has been awarded a contract by Alinta Energy for the Design, Construction & Commissioning of the Reeves Plains Battery Energy Storage System and associated infrastructure in South Australia
• Contract for the Reeves Plains BESS Project Stage 1 worth approximately $105 million
• A strategic move into the SA Renewables market for Genus, and a flagship project for Alinta Energy

 

[Dona Ferentes]

another electrical forward facer.

HIGHLIGHTS:
• Genus has been awarded additional works under its contract for Western Power’s Clean Energy Link – North Region project which was awarded in January 2025
• Additional works valued at approximately $60 million

 

[Dona Ferentes]

FY25 HIGHLIGHTS:

• Record Revenue of $751 million – up 36% on PCP of $551 million.
• Record Normalised EBITDA of $67.4 million – up 49% on PCP of $45.3 million.
• Record NPAT of $35.4 million – up 84% on PCP of $19.3 million.
• Cash inflow from operations of $120.9 million.
• Cash balance of $160.8 million up from $101.0 million and net cash of $113.5 million up from $77.3 million at June 2024. Cash funded acquisitions $27.7 million (net of $6.5 million borrowings).
• Basic earnings per share of 19.7 cents per share up 82.2% on PCP
• Dividend declared of 3.6 cents per share fully franked (up 44% from 2.5 cps in FY2024)
• Record orderbook of $2 billion.
• Strong tendered pipeline at $2.4 billion.
.
GROWTH STRATEGY
Significant investment has been put into growing the east coast presence of Genus to be positioned for the substantial investment required to the power network over the next 10-20 years. The award of the Ausgrid Hunter-Central Coast Renewable Energy Zone subtransmission line works and Stage 1 of TasNetworks’ North West Transmission Developments project are further examples of this strategy’s success.

Genus’ east coast footprint continues to gather pace with revenue as a percentage of total group revenue growing to 42% in FY2025 compared to 35% for FY2024. Importantly, Genus continues to maintain a strong presence in Western Australia with the award of Western Power Clean Energy Link North during the year. The $335 million project will strengthen Western Australia’s largest electricity network to ensure it can connect and transport a greater supply of renewable energy from the Wheatbelt region and the Mid West region.

FY2026 CAPEX forecast to be circa $30 million, as a result of growth capex mainly attributable to HumeLink, TasNetworks NWTD and Western Power CELN projects.

We remain receptive towards further M&A opportunities to continue our growth trajectory through acquisitions and organically into new geographical locations and service offerings, expanding our national footprint.

 

[Dona Ferentes]

new highs, hit $5.71

GENUS SELECTED BY ALINTA ENERGY TO COMPLETE DELIVERY OF THE 100MW /200MWh WAGERUP BESS PROJECT IN WA​

GenusPlus Group has been selected by Alinta Energy to complete delivery of the company’s 100MW/200MWh Battery Energy Storage System in Western Australia.

Located at the Wagerup Power Station in WA’s South West, the battery will connect to existing high voltage infrastructure, to help stabilise the SWIS, and provide backup capacity when needed.

Genus will undertake remaining project works to complete the construction and commissioning associated with the Balance of Plant Works, the completion contract having a value of approximately $50 million. Genus will engage with circa 100 personnel to complete the Project using significant local content from Western Australia. Award of these works also deepens Genus’ relationship with Alinta Energy, following its contract award earlier this year for the Design, Construction & Commissioning of Alinta’s Reeves Plains (BESS) in South Australia.

Genus Managing Director David Riches said Genus was pleased to be called on as a trusted partner to complete delivery of a grid-critical BESS asset, increasing its fast-expanding footprint in the Battery Energy Storage Market while building on an already strong relationship with Alinta Energy.
“We’re proud to have been trusted by Alinta to complete this important BESS project safely, efficiently and in a timely manner. “This award reflects the reputation Genus has developed in a relatively short period of time. Every successful delivery reinforces our position as a partner of choice in the battery energy storage space - and this project is a testament to the strength of our people, our client partnerships and our purpose."