Mastermyne’s FY25 Revenue Falls 27%, EBITDA Halves Amid Mine Disruptions
Mastermyne Group forecasts a significant revenue decline for FY25 due to mine suspensions and closures but reports a stronger net cash position and early signs of operational recovery.
- FY25 revenue guidance lowered to $212–216 million from $294 million in FY24
- Underlying EBITDA expected between $11.0 million and $13.0 million, down from $27.5 million
- Production disruptions at Grosvenor, Integra, and Moranbah North mines
- Net cash position improved to $29.0 million as of 30 June 2025
- Appin mine project ramped up post-year-end, signaling potential growth
Revenue Impacted by Operational Disruptions
Mastermyne Group Limited (ASX – MYE) has provided a sobering update on its FY25 earnings outlook, forecasting revenue between $212 million and $216 million. This represents a sharp decline from the $294 million reported in FY24, primarily driven by significant operational interruptions across several key mining sites.
The company’s production at the Grosvenor mine was suspended following an incident in late June 2024, while the Integra mine was closed in August 2024. Further compounding these challenges, activities at the Moranbah North mine were restricted to essential services during the final quarter of FY25 after an event in March 2025, leading to reduced workforce levels.
Earnings and Cash Position Reflect Operational Strain
Underlying EBITDA is expected to fall to between $11.0 million and $13.0 million, down from $27.5 million in the previous year. The company also recorded adjustments including a $1.4 million increase in inventory provisions and a $0.7 million impairment related to assets held for sale, further weighing on earnings.
Despite these setbacks, Mastermyne’s net cash position improved to $29.0 million at 30 June 2025, up from $21.8 million a year earlier. This stronger liquidity position offers a buffer as the company navigates operational recovery and strategic investments.
Signs of Recovery and Future Prospects
Encouragingly, post-year-end developments suggest a path toward stabilisation. Longwall consolidation and other activities have resumed at Moranbah North, and the newly announced Appin mine project began ramping up in June 2025. These developments could help offset some of the revenue lost from the earlier disruptions and position Mastermyne for a more robust FY26.
The company’s final audited results and detailed commentary are expected with the full-year release on 27 August 2025, which will provide further clarity on the financial impact of these operational events and the outlook ahead.
Bottom Line?
Mastermyne’s FY25 results highlight operational challenges but hint at a cautious recovery as new projects gain momentum.
Questions in the middle?
- How quickly can production fully resume at Moranbah North and Grosvenor mines?
- What is the expected financial contribution from the Appin mine project in FY26?
- Will Mastermyne’s improved cash position support further strategic investments or debt reduction?
