Image source: Shutterstock
Highlights
- Monadelphous Group is an ASX-listed engineering group, offering construction, maintenance and industrial services to the resources, energy and infrastructure sectors
- In FY24, MND’s revenue jumped 11% YoY to AUD 2,029.9 million
- Recently, MND secured new construction and maintenance contracts worth nearly AUD 230 million
Monadelphous Group Limited (ASX:MND),an engineering company, provides construction, maintenance and industrial services to the resources, energy and infrastructure sectors.
In the financial year 2024 (FY24), the company saw 11% YoY jump in its revenue to AUD 2,029.9 million, driven by continued demand for maintenance services and higher level of activity in the engineering construction sector. During the period, EBITDA increased by 16.8% YoY to AUD 127.4 million, while EBITDA margin recorded a gain of 32 basis points to 6.28%.
In FY24, NPAT attributable to equity shareholders increased by 16.2% YoY to AUD 62.2 million.
Growth prospects for construction and engineering sector
The data released by the Australian Bureau of Statistics (ABS) on 9 September 2024 revealed that the total number of approved dwellings grew by 10.4% in July on a seasonally adjusted basis. Meanwhile, private sector dwellings, excluding houses, grew by 32.1% to 5,234 and private sector houses increased by 0.6% to 9,252.
In July, value of the residential buildings increased by 9% to AUD 8.49 billion and value of non-residential buildings surged by 3.2% to AUD 4.69 billion, revealed ABS data.
Recent business update
Through an ASX update dated 19 September 2024, the company informed about securing new construction and maintenance contracts worth nearly AUD 230 million.
Outlook
The company expects to benefit from the significant opportunities offered by the resources and energy sectors. Increase in expenditure due to high production levels and decarbonisation, supporting sustaining capital and maintenance activity is anticipated to boost revenue growth. Additionally, the company banks on ongoing demand for maintenance services in the energy sector to drive revenue growth.
Share performance of MND
MND shares closed 1.97% higher at AUD 12.45 apiece on 19 September 2024. In the last one year, MND’s share price has recorded a fall of nearly 13.18%, while in the last three months, it has dropped by almost 3.64%.
52-week high of MND is AUD 15.25, recorded on 15 November 2024 and 52-week low is AUD 11.38, recorded on 5 August 2024.

MND Daily Technical Chart, 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, and currency, is 19 September 2024. The reference data in this report has been partly sourced from EODHD/Others.






Please wait processing your request...