Highlights

  • Mastermyne Group (ASX:MYE) exceeded its FY26 Revenue and EBITDA guidance ranges.
  • Underlying EBITDA increased approximately 47% to A$20.3 million.
  • The company’s order book expanded to A$432 million.
  • Mastermyne reported a net cash position of A$46.5 million at 30 June 2026.

Mastermyne Group (ASX:MYE) continues recovering across its underground coal Mining services operations after reporting unaudited FY26 results above its own guidance expectations. The company’s shares were trading at AUD 0.54, up 3.85% on 21 August 2026.

The preliminary results highlighted stronger second-half performance, improving margins, a growing contract pipeline and a strengthened balance sheet.

For investors assessing Mastermyne Group (ASX:MYE), the key areas of focus remain contract wins, order book conversion, Earnings momentum and exposure to the Australian coal sector.

What is happening with Mastermyne?

Mastermyne provides underground mining services across Australian coal regions, including development, production support, project management, ventilation, conveyor installation and mining-related services.

The company’s FY26 unaudited results showed a recovery in operational performance, supported by stronger contract activity and improved utilisation.

The company is scheduled to release audited FY26 results later in August 2026, which will provide further detail on financial performance and outlook.

Latest company developments

Mastermyne reported unaudited FY26 revenue of A$237.7 million, exceeding its previous guidance range of A$220 million to A$230 million.

Underlying EBITDA reached A$20.3 million, above the guided range of A$17 million to A$18 million.

The result represented approximately 13% revenue growth and around 47% growth in underlying EBITDA compared with FY25.

The improvement was driven by stronger second-half performance, with H2 revenue reaching approximately A$128.8 million compared with A$108.9 million in H1.

H2 EBITDA increased to approximately A$12.0 million from A$8.3 million in the first half.

The company’s order book expanded to A$432 million, compared with A$314 million previously.

Mastermyne also reported a broader project pipeline of approximately A$1.5 billion, including around A$823 million of near-term opportunities where contract decisions are expected within twelve months.

What do the numbers say?

Mastermyne’s FY26 performance highlighted improving operating leverage, with earnings increasing faster than revenue.

Revenue growth of approximately 13% combined with EBITDA growth of around 47% indicates stronger margins and improved execution across projects.

The company’s Balance Sheet also strengthened, with net cash reaching A$46.5 million at 30 June 2026, compared with A$33.1 million six months earlier.

Mastermyne also maintained approximately A$40 million in undrawn facilities, providing flexibility to support equipment investment, contract mobilisation and future growth.

The expanded order book of A$432 million provides improved revenue visibility, representing a significant increase compared with the previous period.

However, the reported figures remain unaudited, with final financial results and any FY27 outlook expected to provide further clarity.

What could drive the shares from here?

Conversion of the company’s near-term pipeline into secured contracts remains a key potential driver for Mastermyne Group (ASX:MYE).

The A$823 million opportunity pipeline represents potential future growth if contract decisions are favourable.

The upcoming audited FY26 results and any FY27 guidance will also be important for assessing whether the second-half momentum can continue.

Further Margin improvement and sustained project execution could strengthen the earnings recovery story.

The health of the Australian coal sector remains an important external factor, as mining Investment levels influence Demand for underground services.

Risks investors should watch

Mastermyne remains exposed to the cyclical nature of the coal sector, with changes in Commodity prices potentially affecting mining investment and contract demand.

Mining services earnings can be uneven, with project timing, contract renewals and mobilisation schedules affecting revenue patterns.

Labour availability and cost pressures may impact margins across the mining services sector.

The A$823 million opportunity pipeline represents potential work rather than secured revenue, meaning conversion remains uncertain.

Longer-term changes in coal investment trends and environmental considerations may also influence demand for underground mining services.

Investor takeaway

Mastermyne Group (ASX:MYE) delivered a strong preliminary FY26 performance, exceeding guidance expectations while expanding its order book and strengthening its balance sheet.

The company reported A$237.7 million in revenue, A$20.3 million in underlying EBITDA and net cash of A$46.5 million.

The key factors ahead include audited results, FY27 guidance, contract conversion, margin sustainability and the outlook for Australian coal-sector investment.