Emeco

Better Equipped | Equipment Solutions for Mining

Emeco Reports Improved Operating Performance Over 2H FY15

27 August 2015

HIGHLIGHTS:

  • FY15 Operating EBITDA of $43.4 million, down 36% from $67.3 million for FY14
  • 2H FY15 Operating EBITDA of $27.2 million up 68% on 1H FY15
  • Global fleet utilisation currently 74%, up from 50% at the start of FY15 FY15 earnings and free cash flow impacted by $14.1 million of one-off costs incurred returning equipment back to work
  • Liquidity improved with new $75 million asset backed loan, currently undrawn
  • Project Fit expected to realise cost savings of $14.0 million in FY16
  • FY15 strategic achievements to drive improved margins

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