Mayfield Secures Major New Contract

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Stock Mayfield Group Holdings Ltd (MYG.ASX)
Release Time 25 Mar 2025, 8:19 a.m.
Price Sensitive Yes
 Mayfield Secures Major New Contract
Key Points
  • Awarded $20 million contract to deliver 18 modular power distribution centres for a major Data Centre operator
  • Secured $3.2 million in new contracts across mining, renewable energy, and government sectors
  • Work-in-hand increased to $108 million, extending into 2027 financial year
Full Summary

Mayfield Group Holdings Limited is pleased to announce the successful award of a significant contract within the data centre sector, alongside the ongoing expansion of their work-in-hand for the 2025-2027 financial years across various industries. Their subsidiaries, Mayfield Industries Pty Ltd and ATI Australia Pty Ltd, will oversee the management of these contracts, marking a significant milestone in their growth. This achievement highlights their commitment to delivering exceptional electrical infrastructure solutions in support of Australia's electrification and digitalisation efforts. Mayfield Industries Pty Ltd has entered into a $20 million contract to deliver 18 modular power distribution centres in Victoria for a major Data Centre operator. The 18 units will be delivered in the 2026 year, with revenue recognised over the 2025 and 2026 financial years. Additionally, Mayfield has secured a total of approximately $3.2 million in new contracts with a number of customers, consisting of $2.2 million for switchboards and switchrooms, plus $1 million for telecommunications projects in the mining, renewable energy, and government sectors. These projects will be delivered through the 2026 financial year. The recent award of the data centre contract, along with others secured in other sectors, has significantly increased Mayfield's work-in-hand to $108 million, extending into the 2027 financial year. Mayfield is confident in its prospects and remains committed to its Australian manufacturing and technology-driven strategies.

Guidance

Mayfield's work-in-hand has increased to $108 million, extending into the 2027 financial year.

Outlook

Mayfield is confident in its prospects and remains committed to its Australian manufacturing and technology-driven strategies.