Full Year 2024 Mader Group Ltd Earnings Call Transcript
Key Points
- Record revenue of $774.5 million, a 27% increase compared to FY23.
- EBITDA up 32% to $99.2 million, showcasing improved margins.
- Net debt reduced by 27% to $31.2 million, indicating strong financial management.
- Declared a $0.078 per share fully franked dividend, a 34% increase from the previous year.
- Significant geographical and service line diversification, with operations in 7 countries and multiple industries.
- Uncertainty due to the upcoming US elections, potentially affecting investment decisions.
- Challenges in the oil sands industry in Canada, leading to cost-cutting pressures.
- Increased depreciation rates in North America due to harsh environmental conditions.
- Potential softer targets in key commodities like lithium, nickel, and iron ore.
- Dependence on Tier 1 miners and large mining contractors, which could pose credit risk.
Thanks very much, Harmony, and good morning, everyone. Welcome to Mader Group's Full Year Results Presentation for the 2024 financial year. With me today is our Chief Financial Officer, Paul Hegarty. It's been another impressive year for the group and one that I'm very proud of. Through hard work and determination, we have continued our evolution into a global diversified services business.
This year, we expanded our footprint and capabilities across new markets and industries, resulting in record revenue of $774.5 million, a 27% compared to FY23. Now before we dive in, I just want to take a moment to extend my sincere thanks to our entire team. They have been instrumental in achieving these results that we're presenting today, and I couldn't be more appreciative of their hard work. With that said, let's get into it.
On the first slide. For those here unfamiliar with our story, Mader started back in 2005 with Luke Mader, our Executive Chairman, Founder and first ever tradesmen on the tools. What started out as a
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