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Highlights

  • Macquire Technology is a software and services company which caters to mid-to-large business and government clients by offering cloud, data centre, telecom and cyber security services.
  • Financial year 2023 marks the ninth consecutive year of EBITDA growth for MAQ
  • MAQ forecasts to report EBITDA growth amid continued demand for cloud and cyber security services in FY24.

Macquarie Technology Group Limited (ASX: MAQ) offers cloud, data centre, telecom and cyber security services to mid-to-large government and business clients. The ASX-listed software and services company reported its ninth consecutive year of EBITDA growth in FY23.

During the stated period, the EBITDA stood at AUD 103.1 million, and revenue grew to AUD 345.1 million, up by almost 16.6% and 11.6$, respectively over the previous corresponding period. Meanwhile, customer receipts increased by 11.3% yoy to AUD 371.8 million.

The period saw a 30.1% yoy surge in revenue from data centres and a 16.8% yoy increase in revenue from cloud services and government segments.

The yearly performance was underpinned by the focus on enhancing customer experience, differentiated market offerings and ongoing migration onto the cloud.

Here are the metrics showing historical financial performance of MAQ.

Top 10 shareholders of MAQ

The top 10 shareholders of MAQ have around 61.27% shareholding in the firm, while the top four have around 56.50% shareholding. Claiward Proprietary Limited and Viburnum Funds Pty Ltd have the highest stake in the company, with a shareholding of ~45.19% and ~8.58%, respectively.

Recent business update

Through an ASX filing dated 1 September 2023, the company informed that MAQ would be added to S&P/ASX 300, effective from 18 September 2023. This has been done as part of the September quarterly rebalance of S&P ASX indexes.

Outlook

In FY24, the company expects growth in EBITDA, continuous growth in demand for cyber security and cloud services, an increase in investment in people, and further investment in customer growth capital expenditure. Also, the company plans to invest its funds in new technology creation, building new data centre capacity and so on.

The company would also explore opportunities to fuel growth to assist the AI megatrend.

Share performance of MAQ

MAQ shares closed 0.42% down at AUD 62.11 apiece on 6 October 2023. With this, MAQ’s share price has increased by 4.19% in the last six months and has dropped by almost 8% over the previous one month.

The 52-week high of MAQ is AUD 71.15 apiece, recorded on 21 August 2023 and, the 52-week low is AUD 52.67 apiece, recorded on 15 November 2022.

 

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 06 October 2023. The reference data in this report has been partly sourced from REFINITIV.