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Thu 31 Jul 2025
Close: 578c 
Day's move: -18c (-3.02%)
Volume: 189 495
Trades: 84
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Continuing operations
Revenue for the period lowered to AUD1.4 billion (AUD1.5 billion) with gross earnings stumbling to AUD38.3 million (AUD83.9 million). Operating loss before capital items ended on AUD31 million (earnings of AUD15.5 million) with loss for the period coming in at AUD32.7 million (earnings of AUD798 000). Additionally, headline loss per share came to AUD26.7c per share (headline earnings per share fro total operations of AUD8.8c per share).
Company outlook
Infrastructure
The Infrastructure segment remains well positioned in light of expected increased market activity in specialty sectors, specifically water and waste-water, defence, marine and alternative energy. In Australia, the federal and state elections are expected to create some level of uncertainty as investment priorities are reviewed, while the temporary slowdown of opportunities coming to market in New Zealand is expected to improve in the coming period. The Southeast Asia business unit is expected to benefit from the increasing pipeline of marine prospects, specifically in Singapore and Indonesia.
The current work in hand provides a robust revenue platform, with over 97% of planned revenue for the second half of FY25 secured and 49% of 2026 planned revenue secured. Work in hand comprises 75% in the government sector and 25% in the private sector.
The business remains focused on converting current tenders of AUD1.9 billion in preferred bidder status to award, with a further AUD3.3 billion pending decision.
Building
Built Environs enters the second half of 2025 financial year with solid work in hand. Markets in Australia remain strong, with government spend in healthcare, education and recreation sectors growing in line with the growth in population. A recent slow-down in activity in New Zealand has been noticed, however a clear longer-term demand is expected, given the aging healthcare infrastructure.
Built Environs has a preferred bidder status of AUD543 million and current tenders of AUD786 million pending decision.
Mining
Entering the second half of the financial year, the geopolitical market fragmentation and inflationary cost pressures remain key drivers on mining sentiment across Africa. Despite emerging opportunities in the SADC region in the longer term, the current mining environment continues to be impacted in South Africa by logistics infrastructure constraints.
Moolmans’ consolidation and reset strategy agenda includes a focus on improved operational performance and cash generation. A key factor to success is contract execution on the newly awarded long-term Gamsberg contract. Despite client mine planning issues, financial performance at Tshipi is expected to improve in line with production levels and the resolution of commercial claims.
In order to support the consolidation agenda, the overall Fleet Rationalisation Programme continues through the utilisation and renewal of existing fleet and the addition of new equipment. Additional capital expenditure for new equipment and a renewal plan for existing equipment over the contract period, will be funded through project cashflows.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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