Half Year Results Presentation
| Stock | Maas Group Holdings Ltd (MGH.ASX) |
|---|---|
| Release Time | 20 Feb 2025, 8:20 a.m. |
| Price Sensitive | Yes |
Maas Group Holdings Reports 1H25 Results
- Underlying EBITDA of $95.0M in line with guidance, driven by strong Construction Materials contribution
- Construction Materials underlying EBITDA increased 24% to $45.0M, 42% of total EBITDA
- Acquisitions expected to contribute $10M-$12M to 2H25 EBITDA
Maas Group Holdings Ltd reported its 1H25 results, with underlying EBITDA of $95.0M, in line with guidance. This was driven by a strong contribution from the Construction Materials segment, which saw a 24% increase in underlying EBITDA to $45.0M, representing 42% of total EBITDA. The company made several strategic acquisitions during the period, including Aerolite quarry, Capital Asphalt, and Cleary Bros, which are expected to contribute $10M-$12M to 2H25 EBITDA. The company's financial position remains strong, with liquidity of $441.5M and a leverage ratio of 2.2x. The company's focus on safety has resulted in a decrease in the Lost Time Injury Frequency Rate to 3.1. Looking ahead, the company provided FY25 guidance for underlying EBITDA in the range of $215M-$245M, driven by continued growth in the Construction Materials segment, the contribution from recent acquisitions, and the expected improvement in renewable energy project procurement timelines.
Guidance for FY25 underlying EBITDA in the range of $215M-$245M, driven by continued growth in the Construction Materials segment, the contribution from recent acquisitions, and the expected improvement in renewable energy project procurement timelines.
The company's outlook is focused on the integration of recent acquisitions, increasing the secured pipeline of work in the Civil Construction & Hire segment, executing capital recycling initiatives, and continuing to implement safety initiatives. Beyond FY25, the company expects further growth from the full-year contribution of recent acquisitions, continued growth in the Construction Materials segment, the commencement of delayed renewable energy projects, and the establishment of the Ellida Estate in Rockhampton to capture demand in a supply-constrained residential market.