ARA achieved a record revenue in 2023 of $885 million, an increase of $164 million, or 23%, from the prior financial year. 2023 was the eighth consecutive year of record operating earnings. EBITDA increased from $50.5 million in 2022 to $67.0 million in 2023, an increase of $16.5 million, or 33%. Each ARA Division and each business unit within each Division, contributed to this significant increase in earnings. From the time we founded ARA, we always said that if each profit centre was profitable, we would deliver exceptional results. That is exactly what we did this financial year.
The ARA Group acknowledges the connection of people, land and communities within the areas that we work. We pay our respects to Elders past, present and emerging.
We seek to maintain meaningful partnerships by undertaking the appropriate engagement practices within our business and for our communities. We know the importance of respecting, understanding and sharing the oldest living cultures in the world.