In the most recent financial year, Built's revenue rose by over 50% to $3.1 billion and earnings reached $60.2 million. This supported a substantial dividend increase to $42.5 million. However, despite the strong financials, the sole shareholder will take home under one third of the payout, as the company used $29.2 million to repurchase equity from a former executive.
Since its founding in 1998, Built has evolved from a commercial builder into one of Australia's largest private construction firms. It has delivered prominent projects like the Atlassian Central and Chifley South towers in Sydney. Over the past year, Built expanded further by initiating major healthcare and defence projects in several states, solidifying its standing in government and social infrastructure sectors.
Although $42.5 million in dividends was declared, only about $13 million will be paid to the remaining shareholder. The rest was allocated to buy back the former CEO's stake after his departure. This highlights how corporate changes can affect shareholder returns, even during strong financial years. Built's EBIT margin improved to 2.9%, indicating better operating performance in an industry still recovering from pandemic-related disruptions.
Built's long-term investment in digital technology, which has exceeded $70 million over nearly ten years, is starting to deliver results. Digital transformation and AI are now seen as key drivers of productivity on construction sites. The company's expansion into sectors such as healthcare, defence and data centres, combined with technology-led operations, leaves it well placed in a market that continues to rebound.
