Red ivory @shutterstock

Highlights

  • For the half-year ending 31 December 2022, MAH reported group revenue of AUD 987.1 million, 21.92% higher than the revenue of AUD 809.75 million reported in H1FY22.
  • At the end of 1HFY23, its order book stood at AUD 5.5 billion, compared to AUD 5 billion at the end of 1HFY22.
  • MAH's top 10 shareholders hold around 62.77% stake in the company.

Macmahon Holdings Limited (ASX: MAH) is an Australia-based company that provides mining and consulting services to the resources sector throughout Australia and Southeast Asia. It is involved in a complete mining and engineering service for surface and underground operations from mine development to materials delivery. Since securing its first mining contract in 1967, Macmahon has continued to grow its surface mining operations.

For the half-year ending 31 December 2022, the company reported group revenue of AUD 987.1 million, 21.92% higher than the revenue of AUD 809.75 million reported in H1FY22. Meanwhile, its EBITDA and net profit grew by 28.33% and 609% year-on-year to AUD 146.23 million and AUD 23.27 million, respectively, in 1HFY23. Here's how its revenue, net income and other financial metrics have grown historically:

At the end of 1HFY23, its order book stood at AUD 5.5 billion, compared to AUD 5 billion at the end of 1HFY22. Also, the company said its demand outlook remains positive, with its tender pipeline increasing to AUD 10 billion, compared to AUD 8.7 billion as on 30 June 2022.

For FY23, the company expects its underlying EBIT(A) to be between AUD 105-125 million as it continues executing its client order book and effectively managing persisting industry-wide cost and manpower sourcing challenges.

On 21 April 2023, MAH unveiled intentions to participate in the capital raising announced by Calidus Resources Limited, with an investment of AUD 10.5 million that is subject to Calidus shareholder approval. Similarly, on 31 March 2023, the company affirmed that it had extended its appointment by PT Agincourt Resources (PTAR) as the mining contractor for the Martabe gold project in North Sumatra, Indonesia.

Top 10 Shareholders

MAH's top 10 shareholders hold around 62.77% stake in the company, while the top four alone hold 59.02%. Amman Mineral Contractors (Singapore) Pte. Ltd and Paradice Investment Management Pty. Ltd holds maximum stakes in the company at ~44.27% and ~7.04%, respectively.

MAH’s Stock Price Performance

MAH shares closed 3.846% higher at AUD 0.135 on Wednesday, 14 June 2023. In the last one month, the stock has risen by ~4%, and on a YTD basis, it is down ~7%. On 15 February 2022, the stock hit a 52-week high of AUD 0.188, and its 52-week low of AUD 0.120 was seen on 6 June 2023.

MAH Daily Technical Chart, Image Source: EODHD/Others

Note 1: Past performance is neither an Indicator nor a guarantee of future performance. 

Note 2: The reference date for all price data, currency, is 14 June 2023. The reference data in this report has been partly sourced from EODHD/Others.