Technical services company Mader Group dives 15% on FY result
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The news: A selloff in Mader Group shaved more than 15% off its share price in morning trade despite reporting a rise of more than 30% in its net profit after tax.
The numbers: Mader's shares were down 12.3% to $5.63 by 1:40pm AEST, having plunged more than 15% in morning trade, suggesting the technical services company failed to meet analysts' forecasts in the 2024 financial year.
Mader reported net profit after tax of $50.4 million, a 31% rise year on year, while full-year revenue totalled $774.5 million, up 27%. EBITDA of $99.2 million was an increased of 32% from FY23 while EBITDA margins improved from 12.3% to 12.8%.
The company's final dividend was 7.8 cents per share fully franked, up 34% from a year earlier. Mader set revenue guidance of above $870 million, with targeted NPAT of over $57 million.
The context: Perth-based Mader, which provides specialist technical services across mining, energy and industrial sectors, said the outlook in FY25 is strong across all its markets.
The company said it intends to leverage its range of technical services and geographical presence to further strengthen revenue streams and continue to deliver positive returns for shareholders.
What they said: "Our performance this financial year highlights the business' transformation into a diversified, global technical services provider," Mader's executive director and CEO Justin Nuich said.
"We now operate in more locations and serve a broader range of customers, across more industries than ever before."
The source: ASX announcement
