Emeco

Better Equipped | Equipment Solutions for Mining

1H FY16 Results Market Release - Operating EBITDA of $23.2 million, up 43.2% on 1H15

25 February 2016

HIGHLIGHTS:

  • 1H16 Operating EBITDA of $23.2 million up 43.2% on 1H15
  • Continued focus on cost reduction driving improved EBITDA margin of 27.6% excluding Canada operations (21.3% including Canada), up from 14.6% in 1H15
  • Guidance for FY16 Operating EBITDA of between $53.0 million and $57.0 million, representing between 22% and 31% growth on FY15
  • Weakening market conditions in Canada resulting in a $100.2 million impairment against tangible assets in this business
  • Australia and Chile operating at high levels of utilisation, offsetting weaker performance in Canada
  • Net debt reduced to $377.2 million at 31 December 2015 following the on-market purchase of Emeco issued 144A bonds with US$52.3 million face value during 1H16

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