• Continued revenue growth, up 20.3%
• Stable headcount with focus on staff retention
• Margin steady, expected to improve in H2

MLG Oz Ltd has reported its financial results for the first half of FY25, highlighting continued revenue growth, stable headcount, and an expected margin improvement in the second half. The company's statutory revenue increased by 20.3%, reaching $268.6 million, while EBITDA was $29.3 million, representing a 10.9% margin. The company's employee numbers remained stable at 1,141, with a total workforce of over 1,450. MLG has invested $29.2 million in capital expenditure for new equipment, including a $3.5 million purchase of a dedicated accommodation facility in Kalgoorlie to replace rented housing and reduce operational costs. The company's net assets have increased by 3.8% to $135.8 million, with net tangible assets per share rising to 102 cents, up 8.1%. The company's debt is primarily asset-backed, with a gearing ratio of 1.4x, which is expected to reduce through the second half. The outlook for MLG remains strong, with a significant tender book and record gold prices underpinning an attractive near-term and long-term outlook.

MLG Oz Ltd expects further growth in the second half of FY25, driven by new project wins and continued strong demand from its key customers in the gold sector.

MLG's market position and fleet capacity are well-placed to support its clients' demand for growth in production. The company's focus is on the long-term sustainability of its profit margins, and it continues to work towards optimizing its portfolio to deliver sustainable margin improvement. There is also potential for MLG to move up the value chain and provide a link for tier 2 producers to access processing in return for a share of gold profit.