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Edge12 Dec 2025
Running on Clouds: The Story of On
The story of how a Swiss runner's pursuit of a new running sensation became On, aiming to be the most premium global sportswear brand worldwide.
MAAS Group (MGH) investor relations material
MAAS Group AGM 2025 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.AGM 2025 summary22 Oct, 2025
Opening remarks and agenda
The meeting was formally opened with a quorum present, held both in-person and virtually, and included an acknowledgment of traditional land owners.
Attendees were briefed on housekeeping, voting procedures, and how to participate both in-person and online.
Directors, key executives, and the auditor were introduced, with the CEO and CFO joining online.
Board and executive committee updates
CEO and Managing Director is Wes Maas, with Stephen Bizzell as Independent Non-Executive Chairman and a diverse board including Tanya Gale, David Keir, and Michael Medway.
Executive team includes CFO Craig Bellamy, COO Andrew Letfallah, and leaders across business development, operations, safety, and finance.
The board emphasized maintaining a diverse mix of skills and experience, with support for the re-election of Tanya Gale.
The executive team was commended for delivering record results and implementing strategic priorities.
Financial performance review
Underlying EBITDA for FY 2025 reached $219.4 million, a 6% increase from FY 2024, and a 28% CAGR since listing.
Construction Materials EBITDA grew 38%, with 9% organic growth and strong acquisition contributions.
Tangible assets increased 20% to $1.7bn; cashflow conversion at 97%, reflecting disciplined management.
Leverage ratio at 2.7x, well within covenants; residential land lot settlements up 34%.
The company raised $150 million in equity, deploying capital into strategic acquisitions and organic growth.
How will the $200m+ capital recycling be deployed?
Address CC&H margin pressure strategies.
What is the market impact of low-carbon offerings?
Why reduce commercial property development capital?
Impact of ICAC on Capital Asphalt acquisition?
What's next for climate-related disclosures?
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Next MAAS Group earnings date
H1 202618 Feb, 2026
Next MAAS Group earnings date
H1 202618 Feb, 2026
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Frequently asked questions
MAAS Group Holdings Limited is an Australian diversified industrial company engaged in construction materials, equipment, real estate, and civil construction services. The company’s operations include manufacturing and supplying quarry materials, providing specialized equipment for the mining and infrastructure sectors, and delivering civil construction and earthmoving services. Additionally, MAAS Group has a real estate development segment focused on residential and commercial projects in key regional areas. The company’s integrated business model supports a range of industries, including mining, infrastructure, and property development. The company is headquartered in Dubbo, New South Wales, and its shares are listed on the Australian Securities Exchange.
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