Diversified Industrial Services, Construction Materials, Equipment Distribution, and Energy
Strategic Profile
These businesses provide SGH with exposure to long-duration demand themes across mining production, construction activity, infrastructure investment, and domestic energy supply. Management highlighted another year of consistent outperformance, supported by the SGH Way, a structured operating model focused on execution, capital discipline, and sustained value creation. The company maintains market-leading positions in each of its core segments with strong operational execution.
Cyborg Score Rationale
The company delivered revenue of $10.74b in FY25, up 1%, with underlying EBIT rising to $1.54b, an 8% increase driven by earnings growth at WesTrac and Boral, with net profit after tax climbing 9% to $924m. SGH also reduced leverage to below 2x EBITDA, demonstrating strong balance sheet discipline.
Top Insights
WesTrac continued to benefit from strong capital sales, posting 4% revenue growth and $639m of EBIT, while Boral delivered a standout 26% EBIT increase supported by pricing traction and improved margins.
Operating cash flow reached $1.95b, up 49%, and EBITDA cash conversion hit 95% on improved working capital management across WesTrac, Boral, and Coates.
SGH Energy advanced its major projects, including the Crux LNG development, where drilling is complete, and first gas is expected in CY27.
Seven Group Holdings (SGH), the industrial conglomerate controlled by the Stokes family, has increased its interim dividend by 7 per cent to 32 cents per share, following the company's announcement of a statutory net profit after tax of $473 million for the first half, a 1 per cent increase.
Named Competitors
Caterpillar Distribution — Competing heavy equipment sales and service providers
Equipment Hire Services — Industrial equipment rental and leasing competitors
Construction Materials — Cement, asphalt, and recycled materials competitors
Recent Developments
(November 2024) Company rebranded from Seven Group Holdings to SGH Ltd with new ticker code SGH and updated website domain to sghl.com.au
(February 2026) Announced 7% interim dividend increase to 32 cents per share with statutory NPAT of $473m for H1 FY26
(January 2026) Made $13.2 billion joint acquisition proposal with Steel Dynamics for BlueScope Steel (Australian operations); proposal rejected by BlueScope board
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