Can Mount Gibson’s (ASX: MGX) business expansion translate into earnings growth?

Wed 31 Jan 24, 02:27 AM | Team Kalkine

Image source: Andriy Solovyov, Shutterstock

Highlights

Mount Gibson is a manufacturer and exporter of iron ore products

In FY23, the company registered 821.7% YoY rise in EBITDA to AUD 224.10 million

In 2QFY24, revenue stood at AUD 228 million and in 1HFY24, it stood at AUD 436 million

Mount Gibson Iron Limited (ASX: MGX) is an ASX-listed materials company which is engaged in the manufacturing and export of iron ore products. The company operates through two segments, Koolan Island and Mid-West.

In the financial year 2023 (FY23), the company reported a 217.2% YoY jump in revenue to AUD 452.61 million and 821.7% YoY growth in EBITDA to AUD 224.10 million. Net income during the reported period increased by 103% YoY to AUD 5.18 million and net cash surged by 22.6% YoY to AUD 139.37 million.

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