Emeco

Better Equipped | Equipment Solutions for Mining

Emeco Reports FY16 Operating EBITDA of $54.2 million

HIGHLIGHTS:

  • TRIFR down from 7.5 to 5.6 at 30 June 2016
  • FY16 Operating EBITDA of $54.2 million, up 25% from $43.4 million for FY15 and within the public guidance range of $53-$57 million
  • Operating EBITDA margin of 26.1%, up from 17.9% for FY15
  • Average global fleet operating utilisation for FY16 was 44% (FY15: 46%), reflecting increases in Queensland and New South Wales and falls in Canada and Western Australia
  • Focus on driving improved margins with Project Fit cost savings totalling $26.7 million
  • Slower and softer expected market recovery resulting in $179.6 million of impairments across the Group over FY16, despite improved operating and financial performance
  • Year-end cash balance $24.8 million, net debt down $48.5 million over FY16

Read full release.

Enquire