• Statutory Revenue up 20.5% to $272.9 million
• Statutory EBITDA of $29.3 million (up 2.8% on pcp)
• Statutory NPAT of $4.1m (down 42.7% on pcp)

MLG Oz Ltd (ASX:MLG) has announced its financial performance for the half year ended 31 December 2024, reporting a 20.5% increase in statutory revenue to $272.9 million compared to the prior corresponding period. Statutory EBITDA increased by 2.8% to $29.3 million, while statutory Net Profit After Tax (NPAT) decreased by 42.7% to $4.1 million. The company's pro forma EBITDA margin was 10.9%. MLG invested heavily in new capital equipment, with $29.2 million spent on expanding its fleet capacity. The company also purchased a dedicated accommodation facility in Kalgoorlie for $3.5 million to replace rented housing and reduce operational costs. Net debt stood at $77.5 million, with a gearing ratio of 1.4x. The company's mine site services and bulk haulage division saw a 32.7% increase in revenue to $246.7 million, while the crushing and screening division experienced a 41.1% decline in revenue to $21.9 million due to the timing of project completions and delays in new projects commencing. MLG expects a stronger second half as it deploys its new fleet capacity and responds to continued strong demand from its gold industry clients.

MLG expects further growth in revenue and an improvement in profit margin in the second half of FY2025 as it deploys its new fleet capacity and continues to support its clients' growth needs for its integrated service offering.

The company is well-placed to benefit from the high gold price and strong demand for ore volumes to feed the expansion in gold processing. MLG expects its civils business to continue expanding and its crushing revenue to grow, which will contribute to higher margins in the second half of FY2025.