Emeco (EHL) Investor presentation summary

Business model and service offering

• Provides equipment rental, fleet maintenance, equipment rebuilds, optimisation technology, and technical services for mining operations across Australia.

• Delivers integrated, fully maintained equipment service models, including on-site and off-site maintenance, predictive maintenance, and real-time data support.

• Operates a flexible fleet configured for all major mining regions and commodities, with 723 open-cut and 117 underground units as of June 2026.

Financial performance and outlook

• Achieved resilient earnings and strong cash flow, with operating free cash flow totaling $312M over the past three years.

• FY26 expected results: $290–295M operating EBITDA, $145–150M operating EBIT, $100–110M operating free cash flow, and net leverage of ~0.4x.

• Maintains robust margins and low net leverage, with a forecast to achieve 20% return on capital in FY28.

• Maintenance earnings have nearly doubled in the last 12 months, with a focus on growing low-capital earnings.

Growth strategy and market positioning

• Pursues organic growth by increasing fleet utilisation, expanding fully maintained rental projects, and growing maintenance services.

• Targets sector consolidation through opportunistic acquisitions in the fragmented equipment rental market.

• Maintains flexibility for M&A due to a strong balance sheet and low leverage.

• Well-positioned to service emerging battery-powered equipment markets and apply AI/machine learning for future-proofing.