Macmahon Holdings (ASX:MAH) has achieved record revenue of $2.4 billion and underlying earnings before interest, taxes, depreciation, and amortisation of $387.4 million for the financial year 2025.
Top line revenue represented a 20% increase, compared to 2024 which totalled $2 billion. Underlying earnings were 10% higher from the same period 12 months ago, totalling $251.7 million.
Macmahon, which has a market capitalisation of $797.34 million, says key drivers of this new record includes the strong contribution from Decmin complementing organic growth and efficient delivery of client contracts in the underground and surface mining businesses.
CEO Michael Finnegan says the FY25 result marks the ninth consecutive year the company has met or exceeded market guidance.
“We have again delivered on our objective of improving return on average capital employed and exceeding our longer-term target of 20%,” Finnegan says.
“The group target will now increase to 25%, underpinned by our growth strategy focused on diversifying the business mix towards civil infrastructure and underground mining and increasing cash backed earnings.”
Finnegan notes the company’s surface mining business performed well, with several contract extensions and new wins during the year.
“These included securing over $500 million of new work in Indonesia and a $900 million contract extension at Byerwen,” he says.
“Our expanded civil infrastructure business performed very well, contributing substantial growth to the group. The acquisition of Decim was successfully integrated, adding approximately $400 million of new civil work to Macmahon’s order book during the financial year.”
As of the end of FY25, the company had $538 million in cash and unutilised bank facilities, including $264 million in cash at hand.
Macmahon Holdings is a mining and civil infrastructure services provider focused on providing services in Australia and Southeast Asia.
Write to Aaliyah Rogan at Mining.com.au
Images: Macmahon Holdings
