MLG Oz (MLG) H2 2026 earnings summary

Executive summary

• Pro forma net profit after tax increased 34.7% year-over-year, with significant margin improvement and strong portfolio performance across haulage, site services, and crushing projects.

• Revenue grew 3.9% to $561.4 million, with EBITDA up 14.2% to $75.5 million and EBIT up 25.7% to $29.4 million compared to FY2025.

• Earnings per share rose 12.5% to $0.09, and a dividend of 1.3c/share was announced, reflecting confidence in future outlook.

• Leadership changes implemented to support the next phase of growth, including new CEO and executive structure.

• Integrated service model and strong customer relationships drove recurring revenue and organic growth.

Financial highlights

• Pro forma revenue: $561.4 million (up 3.9% year-over-year); statutory revenue: $567.0 million.

• Pro forma EBITDA: $75.5 million (up 14.2%); EBITDA margin improved to 13.4% from 12.2%.

• Pro forma EBIT: $29.4 million (up 25.7%); EBIT margin increased to 5.2% from 4.3%.

• NPAT: $16.3 million (up 34.7%); statutory NPAT: $14.5 million.

• Basic EPS: $0.09/share (up 12.5%).

• NTA/share: $1.09 (up from $1.07).

• Gearing ratio: 1.0x (up from 0.88x); net debt: $75.5 million.

• Pre-tax operating cash flow: $68.5 million (90.7% of EBITDA); statutory operating cash flow after tax: $51.9 million.

• Total CapEx: $63.6 million, including $24.5 million growth capex and $8.5 million for hire fleet replacement.

Outlook and guidance

• Strong FY2027 outlook driven by recent contract wins, recurring demand, and a robust customer base.

• Expect continued growth in EBITDA margin and profitability, with some variability possible due to external factors.

• Civil division expected to be a growth area in FY27, with a strong order book and new project wins anticipated.

• Planned investments in technology, workforce management, and operational capability to drive productivity and scalability.

• Strategic acquisitions and expansion of civil, crushing, and mineral processing capabilities prioritized.