• Revenue of $118.7 million, down 19% due to external events
• Normalised EBITDA of $7.6 million, down 49% due to margin pressures
• Secured new contracts and extensions with major customers

Mastermyne Group Limited (ASX: MYE) reported its financial results for the half-year ended 31 December 2024 (H1 FY2025). Revenue declined 19% to $118.7 million, primarily due to a reduction in manning levels at the Grosvenor and Aquila mines. Normalised EBITDA fell 49% to $7.6 million, reflecting the loss of roles at the Anglo American mines, lower Wilson Mining product volumes, and margin pressure on certain contracts. The company also incurred costs associated with responding to past incidents and strategic investments. Despite these challenges, Mastermyne secured new contracts and extensions with major customers, including Anglo American, Peabody Energy, and Whitehaven. The company's net cash position improved to $31.9 million, up from $21.8 million at the end of FY2024. Looking ahead, Mastermyne remains positive on the long-term demand for its services and products, supported by a $1 billion pipeline of opportunities and a $190.2 million order book. The company is focused on maintaining financial stability, improving safety performance, and providing value-added solutions to clients.

The company expects sustained long-term demand for its services and products, with a $1 billion pipeline of opportunities and a $190.2 million order book as of 31 December 2024.

Mastermyne remains positive on the long-term outlook, as global energy transition and decarbonisation actions continue to drive demand for metallurgical coal, while thermal coal demand is also expected to persist. The company is well-positioned to combat external challenges with its robust capital position, technical capabilities, and diverse project portfolio focused on stable top-tier mine owners.