Acrow Forecasts Revenue from Industrial Access Division to Pass $200m in FY26

Acrow Limited (ASX: ACF) expects revenue from its Industrial Access division to exceed $200m in FY26 after recent acquisitions, organic growth, and contract renewals lifted the unit to a new scale.

The forecast represents an increase of about 50% on FY25, a significant milestone for the division’s growth and profitability.

Acrow expects the recently acquired Above Scaffold and Brand Australia businesses to contribute about $40m of revenue growth after both performed ahead of initial revenue and profit expectations.

The company also believes the division will generate organic revenue growth of about $30m for the year.

Acquisition Strategy Delivers Growth

Acrow acquired Above Scaffold to strengthen its position across major infrastructure and industrial access markets in New South Wales.

Above Scaffold has established relationships with major infrastructure assets including the Sydney Harbour Bridge, the Garden Island naval fleet maintenance facility, and Sydney Water assets.

Acrow plans to continue pursuing opportunities with those clients, with the forward program of work on the Sydney Harbour Bridge offering a particularly attractive opportunity.

The former Brand Australia Hunter Valley depot now operates as Acrow Energy and Infrastructure, and has renewed several major contracts including the branch’s largest contract, worth approximately $8m per annum for a minimum three-year term with Glencore.

The renewed contracts represent more than 60% of the branch’s current revenue base.

FY27 Revenue Base Builds

Acrow has secured about $180m of Industrial Access revenue for FY27 through recent contract wins and the revenue profile of existing work.

The Townsville branch recently won a $7m contract with Advanced Aqua Blast at the Lucinda Jetty site.

The South-East Queensland branch has secured a $5m contract with Tarong Power Station to support cooling tower rectification work and a separate $5m contract with Incitec for services related to a major maintenance shutdown at Phosphate Hill.

Acrow expects the upcoming general shutdown season between September and November to generate about $3m in incremental profit compared with the same period in FY26.

The company said the contracts were not individually material but collectively should make a meaningful contribution to Industrial Access growth in FY27 and beyond.

Diversification Supports Earnings

Chief executive officer Steven Boland said Acrow’s strategy to build a substantial Industrial Access division alongside its Construction Services division had delivered strong results.

“The recurring nature of earnings from this division, combined with its growth trajectory, has delivered at a time when activity in our Construction Services division has softened, ensuring that the company continues to prosper,” Mr Boland said.

Acrow also reported a strong FY26 performance from its Screens and Jumpform businesses, with both delivering record revenue levels and strong returns from targeted capital expenditure.

“The work we have undertaken to diversify our revenue streams is now anticipated to drive strong revenue growth and, more importantly, profitability over the coming years, which underpinned the Board’s confidence in providing early FY27 guidance on 1 April 2026.”