MLG Oz Limited (ASX:MLG) Announces Half-Year Financial Results
Financial Performance
MLG Oz Limited reported a 20.3% increase in statutory revenue, reaching $223.2 million for the half-year ended 31 December 2024. EBITDA stood at $28.5 million, maintaining a margin of 10.9%, while NPAT was $7.1 million. Net tangible assets per share rose to 102 cents, up 8.5%.
Operational Highlights
The company maintained a stable workforce with 1,141 employees out of a total workforce of over 1,450. MLG invested $29.2 million in new equipment and acquired a dedicated accommodation facility in Kalgoorlie for $3.5 million to reduce operational costs. A significant tender book and record gold prices underpin an attractive near-term and long-term outlook, with new project wins contributing to expected growth in the second half.
Capital Expenditure
MLG’s capital expenditure included $29.2 million in new equipment and $3.5 million for the Kalgoorlie accommodation facility. The company expects to reduce its gearing ratio through the second half of the financial year.
Outlook
MLG Oz Limited anticipates a stronger second half of the financial year with increased crushing and screening revenue from new projects. The focus remains on the long-term sustainability of profit margins and optimising the portfolio to deliver sustainable margin improvement.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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