• Robust revenue growth of 6.0% to $284.6m
• EBITDA margin expansion to 12.8%, up from 10.9% in H1 FY25
• Significant improvement in safety performance, with LTIFR declining

MLG OZ Ltd has reported strong financial results for the first half of FY26, with revenue growth of 6.0% to $284.6m and EBITDA margin expansion to 12.8%, up from 10.9% in the prior corresponding period. The company's statutory operating performance also improved, with EBIT increasing by 52.3% to $13.2m. The balance sheet continues to strengthen, with net assets up 5.6% to $153.4m and the gearing ratio reducing to 0.84x. MLG's focus on safety has also yielded positive results, with a material improvement in safety performance and a decline in the lost time injury frequency rate. The company is well-positioned to continue its growth trajectory, with the gold market experiencing historical high prices and driving greater demand for its services. MLG is actively pursuing opportunities to move up the value chain and establish its own processing capability to further improve its economics.

MLG OZ Ltd expects the second half of FY26 to be broadly in line with the first half performance, with the gold market continuing to experience historical high prices and driving greater demand for the company's services.

The company's focus continues to be on the long-term sustainability of its profit margins, and it is actively pursuing opportunities to move up the value chain and establish its own processing capability to further improve its economics. The availability of excess gold processing capacity remains very constrained, and MLG is well-positioned to capitalize on this market dynamic.