GenusPlus Shares Slip 3.7% as NextDC Power Delay Rattles Australian Infrastructure and Electrical Contractors

SYDNEY — Shares of GenusPlus Group Ltd. fell nearly 4% on Wednesday as a sharp sell-off in data center operator NextDC weighed on infrastructure and electrical contracting stocks.

GenusPlus shares dropped 0.31 Australian dollars, or 3.74%, to A$7.99 in afternoon trading. The stock traded between A$7.73 and A$8.40, with about 1.05 million shares changing hands. The company's market value stood at about A$1.6 billion.

It was not immediately clear whether GenusPlus had released new information. The shares remain up about 36% over the past year.

Sector sell-off

The decline came as NextDC shares plunged more than 37% after the company cut its fiscal 2027 guidance because of a power supply delay at its M3 data center in Melbourne.

The news hit a group of companies that have benefited from the boom in data center construction and power infrastructure investment. SKS Technologies Group and Southern Cross Electrical Engineering both fell about 10%.

Investors appeared concerned that delays in power supply and approvals could slow the pace of data center construction, affecting demand for contractors.

About GenusPlus

Perth-based GenusPlus provides power and communications infrastructure services across Australia, including transmission lines, substations, renewable energy connections and telecommunications networks. The company has positioned itself as a key player in Australia's energy transition.

Record results

GenusPlus reported record fiscal 2026 revenue of A$1.281 billion, up 70.5%, and normalized EBITDA of A$100.8 million, up nearly 50%. The company ended June with A$476 million in cash and an order book of about A$2.2 billion.

The company completed its acquisition of MPK on July 1 after raising about A$200 million earlier this year. It also acquired Railtrain Group Holdings.

GenusPlus has targeted fiscal 2027 EBITDA of A$200 million to A$205 million, roughly double the previous year's level, reflecting the contribution of acquisitions and growth in its project pipeline.

Strong run

GenusPlus shares have risen strongly over the past year as investors bet on rising infrastructure spending tied to renewable energy, electrification and data centers.

What's next

Investors will be watching for any impact on GenusPlus from delays in data center and power projects, as well as progress on major contracts and its fiscal 2027 targets.