Mader Group continues to break barriers following ‘record’ quarterly performance

Global provider of specialist technical services Mader Group (ASX:MAD) is continuing to break records following another ‘exceptional quarterly performance. 

The company, which has a $1.2 billion market capitalisation, generated revenue of $172.9 million in Q4 2023, an increase of 46% versus last year’s prior corresponding period, and 11% growth quarter-on-quarter, as stated in its latest quarterly report released yesterday (25 July 2023). 

Mader reports its revenue closed at $608.8 million (unaudited), which exceeded its twice-upgraded market guidance of at least $580 million, representing a year-on-year (YoY) growth of 51%. 

Meanwhile, the North American segment delivered $40.4 million of revenue, which represents a 139% increase, and has continued to increase its momentum within the region through the expansion into new areas, and an expanded customer base. 

Mader plans to release its audited NPAT results on 22 August 2023. The current FY23 NPAT currently stands at $37 million. 

Closing off the financial year, Mader recorded a net debt position at $42.7 million, a 16% reduction on net debt recorded at 31 December 2023. The company also said farewell to Company Secretary Shannon Coates, who resigned from her post effective from yesterday. 

Commenting on the quarterly report, Mader Group Executive Director and Chief Executive Officer (CEO) Justin Nuich says: Outperforming market guidance, we delivered $608.8 million of revenue for the year (unaudited), a 51% increase year on year. This reflects the strength and resilience of our core businesses operations and highlights our focus on building out industry verticals in line with our strategic plan. 

Across the globe our performance has exceeded expectations, characterised by strong growth in the Australia segment coupled with continued expansion throughout North America. We have achieved outstanding early growth in Canada, with business development and local recruitment efforts performing well above expectations. We are now operating in five provinces and territories in the region with ~160 skilled technicians catering to strong customer demand. 

Across the globe our performance has exceeded expectations, characterised by strong growth in the Australia segment coupled with continued expansion throughout North America”

Looking ahead to the new financial year, we are pleased with the foundations that have been laid over the last 12 months across multiple industries and regions. We are well positioned to leverage our expertise and continue to expand on our market share across multiple verticals. With a dedicated team, culture-led approach and the support of a unique business model we are optimistic about our ability to drive sustainable growth well into the future.”

Write to Adam Drought at Mining.com.au

Images: Mader Group Ltd
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Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.