MLG Oz Delivers 15.5% Revenue Growth Amid Rising Margins and Strategic Contract Wins

Strong Financial Momentum in FY2025

MLG Oz Limited has unveiled a compelling set of financial results for the year ended June 30, 2025, underscoring its growing footprint in the integrated mining services sector. The company posted a 15.5% increase in statutory revenue to $548.3 million, buoyed by a strong second half performance that also lifted profitability. EBITDA rose by nearly 20% to $66.1 million, reflecting improved operational efficiencies and higher margins, particularly in the latter half of the year.

Net profit after tax climbed 10% to $12.1 million, signaling steady bottom-line growth despite a challenging labour market and transitional operational phases earlier in the year. The company’s net tangible assets per share also improved by 7%, highlighting enhanced shareholder value.

Operational Highlights and Contract Wins

MLG’s performance was underpinned by key contract wins with major industry players such as Northern Star, Westgold, Rio Tinto, and Fortescue. These new agreements expanded the company’s operational footprint and contributed to a marked uplift in crushing, screening, and haulage volumes during the second half of FY2025. Notably, the Westgold South haulage contract and the inaugural Rio Tinto agreement demonstrated MLG’s ability to scale and diversify its client base effectively.

Despite a slow start to the year due to the wind down of large campaigns and holding costs for new equipment, the company’s strategic retention of key personnel and assets enabled a swift ramp-up in activity. The crushing and screening division rebounded strongly, supported by the commencement of the Fortescue stemming contract in May 2025, which is expected to sustain earnings momentum into the new financial year.

Balance Sheet Strength and Capital Discipline

MLG has made significant strides in reducing its financial leverage, with net debt falling from $77.5 million to $57.8 million over six months and gearing dropping to 0.88 times EBITDA. This deleveraging effort reflects prudent capital management amid ongoing investments in fleet and systems to support growth.

However, the board has elected not to declare a dividend for FY2025, citing the need to preserve capital for future opportunities and potential project execution costs. This decision signals a focus on long-term value creation over short-term shareholder returns, aligning with the company’s growth ambitions.

Outlook for FY2026

Looking ahead, MLG is optimistic about sustaining its growth trajectory, driven by robust demand from gold sector clients, record gold prices, and expanding iron ore haulage opportunities. The company’s strong tender pipeline and recent contract wins provide solid revenue visibility, while ongoing efforts to improve margins through cost control and portfolio optimisation remain central to its strategy.

Managing Director Murray Leahy emphasized the company’s readiness to capitalise on profit-share projects and expand service offerings, particularly in mine-to-processing solutions. With a modern fleet and skilled workforce, MLG appears well-positioned to deliver continued growth and shareholder value in FY2026.