Fund Manager Summary
The outlook for GenusPlus Group Ltd is promising, as the fund managers believe the company is well-positioned for future growth. In their opinion, the successful acquisition of multiple contracts indicates a strong operational capability and enhances the company’s earnings potential. This positive momentum is likely to attract further interest from investors, particularly given the current share price of approximately $4.01. The fund managers see this as an opportunity for significant returns, reinforcing their confidence in the company's strategic direction and market positioning.
Source: Trading View
Commentary From The Managers
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QVG Capital
5 Nov 2025
$6.89
Summary
- QVG Capital continues to hold an interest in GenusPlus Group Ltd.
- Recent contract wins represent approximately 10% of last year's revenue.
- Current trading conditions are reported to be positive for the stock.
- Genus has been a focus in previous month commentary, indicating ongoing interest.
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Please note: The completeness, accuracy or current status of the investments referenced are not guaranteed.
Commentary From The Managers
QVG Capital
5 Nov 2025
$6.89
- QVG Capital continues to hold an interest in GenusPlus Group Ltd.
- Recent contract wins represent approximately 10% of last year's revenue.
- Current trading conditions are reported to be positive for the stock.
- Genus has been a focus in previous month commentary, indicating ongoing interest.
Summary
Katana Asset Management
31 Oct 2025
$6.95
- GenusPlus Group Ltd is consistently winning contracts.
- It represents one of the purest exposures to the rewiring of the nation.
- Katana Asset Management highlights powerful long-term thematic developments.
- Strong operational execution contributes to the positive outlook.
Summary
Wilson Asset Management
31 Oct 2025
$6.95
- GenusPlus Group is a national power and communications infrastructure contractor.
- In October, the share price was supported by consecutive contract wins.
- The company secured additional Western Power packages on the Clean Energy Link – North (CELN) program, valued at approximately $50 million.
- This was followed by approximately $60 million of Fortescue decarbonisation contracts at Christmas Creek.
- The contracts include 30km of overhead power distribution infrastructure and construction of fast charger and pit power facilities.
- The cadence and scale of these awards reinforced revenue visibility for GenusPlus Group.
- These developments highlight the company's positioning on Western Australia’s network upgrade cycle.
- Wilson Asset Management continues to hold because the expanding backlog, including the major CELN work, will underpin earnings growth across transmission, distribution, and resources electrification.
Summary
QVG Capital
31 Aug 2025
$5.09
- QVG Capital notes that GenusPlus Group grew earnings per share by 82% in FY25.
- They have guided for 23% EBITDA growth in FY26.
- A lack of sufficient energy infrastructure and runaway government spending are expected to be multi-year tailwinds for Genus’ revenue growth.
- The founder management provides confidence in margin delivery during this fast growth phase.
Summary
Centennial Asset Management
18 July 2025
$4.26
- Centennial Asset Management continues to hold an interest in GenusPlus Group Ltd due to its strong positioning in a growing sector in Australia.
- GenusPlus is actively involved in the electrification of Australia, focusing on the essential infrastructure of poles and wires.
- The company is benefiting from a significant capex spend aimed at updating and replacing outdated infrastructure.
- GenusPlus has experienced a substantial rerating, reflecting its strong performance and market position.
- While valuations are approaching a stretch point, the company remains domestically focused, insulated from global market fluctuations.
- There is a rich vein of growth anticipated within their specific sector, supporting a positive outlook.
Summary
QVG Capital
30 June 2025
$4.01
- Genus Group announced five sizeable contracts over the month.
- Guidance indicates earnings are expected to be ahead of expectations, with EBITDA growing 30%.
- Further earnings growth is anticipated as they deliver full client solutions (engineering, construction, communications) on the same jobsite.
- Future contract wins are also expected to contribute to growth.
- QVG Capital is buoyed by wins in battery infrastructure as a standalone contractor.
- The size of some large transmission works positions Genus Group favorably for future contracts.
- QVG Capital appreciates the founder/owner/manager structure, providing comfort in risk management for contract execution.
Summary
Wilson Asset Management
30 June 2025
$4.01
- GenusPlus Group is a provider of power and communications infrastructure solutions across Australia.
- The company designs, constructs, and maintains electrical transmission and distribution networks, substations, and battery energy storage systems.
- Approximately 50% of the company is owned by founder David Riches, ensuring strong alignment with long-term shareholder interests.
- Wilson Asset Management continues to hold due to the company’s disciplined approach to project tendering and consistent success in project execution.
- This operational discipline has resulted in a strong track record of delivery and risk management.
- Management has shown strategic foresight by expanding both organically and through acquisitions, successfully entering new regional markets.
- A key tailwind for GenusPlus Group is the Federal Government’s Rewiring the Nation program aimed at modernising Australia’s electricity grid.
- With significant funding allocated over the coming decade, GenusPlus Group is well-positioned to capitalise on this infrastructure boom.
- Looking ahead, Wilson Asset Management expects GenusPlus Group to deliver robust organic revenue and earnings growth.
- This growth will be supported by increased infrastructure spending, continued market expansion, and operational leverage.
Summary
Katana Asset Management
30 June 2025
$4.01
- Katana Asset Management continues to hold an investment in GenusPlus Group Ltd.
- GenusPlus Group Ltd has been successful in winning several contracts.
- This success is further building out the company’s earnings into the future.
- Katana Asset Management views this growth as a positive indicator for the company's prospects.
- The investment thesis reflects confidence in GenusPlus's strategic positioning and operational capabilities.
Summary
Ellerston Capital
30 Apr 2025
$2.78
- Ellerston Capital updates their investment thesis on GenusPlus Group Ltd (GNP AU).
- In April, GNP executed an acquisition strategy by acquiring 100% of MGC Group Holdings.
- The acquisition cost A$10.25m at 2.6x EBITDA, deemed an immediately accretive deal.
- This acquisition provides GNP with a strategic entry into the rail sector.
- It marks the fourth acquisition this year, enhancing GNP's core services.
- GNP is building its recurring revenue base through these acquisitions.
- The current order book is significantly above previous all-time highs at A$1.5bn.
- GNP is viewed as a prime candidate to deliver a strong result and show momentum into FY26 onwards.
Summary
Please note: The completeness, accuracy or current status of the investments referenced are not guaranteed.
ANALYST INSIGHT
Equity Research Analyst
"With several contracts under its belt, GenusPlus Group Ltd appears poised for a promising earnings trajectory, but investors should tread carefully as market dynamics shift. The potential is there, but so are the risks."
Last Updated: 05 Nov 2025
Query The Data
Frequently Asked Questions
Who is investing in GenusPlus Group Ltd Fully Paid Ord. Shrs (ASX:GNP)?
Fund managers including Katana Asset Management, QVG Capital, Centennial Asset Management, Wilson Asset Management and Ellerston Capital have invested in GenusPlus Group Ltd Fully Paid Ord. Shrs (ASX:GNP).
Why do fund managers invest in GenusPlus Group Ltd Fully Paid Ord. Shrs?
Fund managers are investing in GenusPlus Group Ltd due to its successful acquisition of multiple contracts, which is expected to enhance the company's future earnings potential.
What happened to GenusPlus Group Ltd Fully Paid Ord. Shrs (ASX:GNP)?
Fund managers are optimistic about GenusPlus Group Ltd due to several key factors. The company reported an impressive 82% growth in earnings per share for FY25 and is projected to achieve 23% EBITDA growth in FY26. This growth is supported by a favorable market environment characterized by insufficient energy infrastructure and increased government spending, which are expected to drive revenue growth over the coming years. Recent contract wins, amounting to approximately 10% of last year's revenue, further enhance revenue visibility and sentiment around the stock. Additionally, the company's strong positioning in the national power and communications infrastructure sector, along with a growing backlog of projects, reinforces confidence in its long-term earnings potential.