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Alfabs Australia Ltd ASX:AAL

Mining Services Capital Management Engineering Services

0 opened or increased1 held0 reduced or exitedlatest position by manager, past 12 months90 days: 0 increased, 0 reduced. 1 managers in total.

Position history by manager 1 managersSelect a point to see the comment

Opened or increasedHeldReduced or exited Start or end of the position not reported

20252026

31 Oct 2024 to today

Commentary Showing 2 of 9

DateManagerActionSummary

30 Jun 2026Salter BrothersHeldSalter Brothers continues to hold Alfabs Australia after a well-received Investor Day outlined a target to grow free cash flow 2 to 3 times by FY2028 via a disciplined capital allocation framework and a clear path back to dividends, with the manager reinforcing confidence in the investment thesis and belief that a sharper focus on cash generation will support long-term value creation.

Monthly Report, price recorded $0.33

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30 Nov 2025Salter BrothersReducedSalter Brothers reduced its position in Alfabs Australia Ltd to capitalise on the share price re-rating following the company's FY25 results, and has since repurchased some shares at lower prices. Salter Brothers notes the company's share price declined on limited news flow following the recent strong performance, and highlights the appointment of Peter White — with extensive CFO experience including at Anglo American's Quellaveco Copper Project — as Chief Finance and Strategy Officer, which is important as Alfabs continues to grow.

Capital Management Engineering Services Mining ServicesMonthly Report, price recorded $0.39

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7 more comments on AALPro shows every comment, with a link to each source document.

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First mention by manager

Price recorded at each manager's first comment

Price at first mentionThe share price recorded when each of 1 managers first commented on AAL.

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About Alfabs Australia Ltd

Materials, Machinery

Alfabs Australia (ASX:AAL), a mining and engineering services firm, has set ambitious cash flow targets, according to Salter Brothers. In June 2026, Salter Brothers reported Alfabs held a well-received investor day, outlining a target to grow free cash flow two to three times by FY28 through a disciplined capital allocation framework and a clear path back to dividends. In November 2025, Salter Brothers noted the share price declined on limited news after strong gains, while the company strengthened its executive team. Alfabs Australia operates in the Industrials sector within the Machinery industry, and Thesis Tracker has captured 9 comments from 1 fund manager, Salter Brothers. Headquartered in Kurri Kurri, New South Wales, since 1950, Alfabs provides mining and engineering services through two segments, manufacturing, repairing, overhauling and hiring mining equipment such as longwall components, and delivering fabrication and engineering services to infrastructure, energy and defence customers.

Market cap: $28m
Price to earnings: 48.1x
Return on equity: 2.6%
Dividend yield: 8.7%
Price to book: 1.25x
Net margin: 1.5%
52-week range: $0.22 to $0.50

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in Alfabs Australia Ltd (ASX:AAL)?

Fund managers including Salter Brothers have invested in Alfabs Australia Ltd (ASX:AAL).

What opportunities or catalysts do fund managers highlight for Alfabs Australia Ltd?

Salter Brothers highlights a target to grow free cash flow two to three times by FY28, a disciplined capital allocation framework, a path to resuming dividends and a strengthened executive team.

What are the key risks to the Alfabs Australia Ltd investment thesis, according to fund managers?

Salter Brothers notes share price weakness on limited news after a strong run, and Alfabs' earnings depend on mining equipment demand, particularly from underground coal operations.

What does Alfabs Australia Ltd (ASX:AAL) do?

Alfabs Australia Ltd., headquartered in Kurri Kurri since 1950, provides comprehensive mining and engineering services through two core segments. The Mining segment focuses on the manufacture, repair, overhaul, and hire of underground mining equipment, alongside sales of consumables and spare parts. The Non-Mining segment delivers heavy steel fabrication, site installation, maintenance, protective coatings, and logistics. Key service offerings include construction, maintenance, mining equipment support, protective coatings, transportation, and forklift access solutions. Alfabs provides integrated operational support to the mining and industrial sectors across Australia.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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