Parkway Posts $3.62M Revenue and $0.62M Free Cash Flow in Q1 FY26
Parkway Corporate Limited reports a robust start to FY26 with strong operating revenue and EBITDA, alongside securing a pivotal 10-hectare site for its Queensland Brine Management Complex project.
- Q1 FY26 operating revenue of $3.62 million with $0.46 million EBITDA
- Record free cash flow generation of $0.62 million
- Secured 10-hectare site in Central Queensland for QBMC project
- Ongoing expansion of project pipeline and framework agreement extension
- Building project team to accelerate QBMC development and approvals
Strong Quarterly Performance Underpins Growth
Parkway Corporate Limited (ASX, PWN) has delivered a solid operating performance in the first quarter of FY26, generating $3.62 million in revenue and $0.46 million in EBITDA. This steady profitability is supported by a growing backlog of specialised water and wastewater treatment projects, particularly through its Industrial Operations division, Parkway Process Solutions (PPS). The company’s disciplined focus on profitability and project execution has also resulted in a record free cash flow of $0.62 million, bolstering its cash reserves to $3.10 million.
Strategic Site Acquisition for QBMC Project
A major highlight this quarter is Parkway’s wholly owned subsidiary Queensland Brine Solutions (QBS) securing a landmark 10-hectare site at Crossroads in Central Queensland. This site will host the Queensland Brine Management Complex (QBMC), a flagship integrated industrial plant designed to address the significant waste brine challenges faced by the coal seam gas (CSG) industry. The QBMC aims to process a substantial portion of the CSG industry’s brine waste, converting it into valuable green industrial chemicals, thereby offering an environmentally sustainable solution to a long-standing industry problem.
Integrated Technology and Commercialisation Strategy
Parkway’s Industrial Technology division continues to advance its proprietary process technologies, which underpin the QBMC project and other industrial applications. The company’s integrated approach combines conventional water treatment services with cutting-edge R&D, positioning Parkway as a leader in specialised engineering solutions. The recent development of an integrated QBMC-QBEC design enhances operational synergies and financial prospects for the project.
Expanding Market Presence and Project Pipeline
Despite limited marketing efforts, Parkway has successfully extended a framework agreement with a major Victorian water authority for three more years, potentially unlocking around $2 million in contract works. Early mobilisation activities for a major wastewater treatment complex are underway, with significant revenue recognition expected to accelerate in early CY2026. The company’s growing project pipeline and strong client relationships provide a solid foundation for anticipated record revenues in FY26.
Corporate Developments and Investor Engagement
To support the ambitious QBMC project, Parkway has created new strategic roles, including the recent appointment of a Head of Strategic Projects. This move underscores the company’s commitment to building a high-calibre project team to navigate approvals, stakeholder partnerships, and commercial management. Investors are invited to engage directly with management during the quarterly webinar scheduled for 29 October 2025, where further insights into Parkway’s growth trajectory and project developments will be shared.
Bottom Line?
Parkway’s Q1 momentum and strategic site acquisition set the stage for transformative growth, but execution risks around approvals and funding remain key watchpoints.
Questions in the middle?
- What is the timeline and likelihood for securing final approvals and funding for the QBMC project?
- How will Parkway scale its project delivery capabilities to meet the anticipated surge in contract execution?
- What are the potential market applications beyond CSG brine management for Parkway’s proprietary technologies?
