SRG won another nice contract today, $65m for the worlds tallest hybrid timber building in Sydney in a JV with Dexus property group.. SRG Global's facades will integrate solar panels allowing the office building to operate on 100% renewable energy with zero emissions.

SRG are building really good relationships with Dexus and Built and winning some solid contracts. The above contract if successful really is a fantastic outcome for SRG moving forward as you would expect most buildings to be developed in this manner eg zero emissions and could be positive for future JVs.

SRG have had a really positive FY22 announcing

• Revenue 644.2 up 13% (FY21 $570m)
• ebidta of $57.2m up 22% and EBIT(A) of 34.2m up 36%
• strong FY22 operating cashflow with EBITDA to cash conversion of 106%
• 2H fully franked dividend of 1.5cps up 50%. FY22 dividend of 3cps up 50%
• net cash of 20.5m

SRG have given guidance of EBITDA circa 25% higher than FY22

I came across SRG when driving past a construction site and seeing their logo on a site toilet. Always keep you eyes open