Imdex Ltd
ASX:IMD
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Imdex Ltd
Imdex Ltd. engages in the provision of mining equipment, technology, and services. The company is headquartered in Balcatta, Western Australia and currently employs 521 full-time employees. The firm is engaged in developing drilling optimization products and sensors to provide real-time rock knowledge and data. The firm is engaged in developing a range of drilling optimization products, rock knowledge sensors, and real-time data and analytics. Its drilling optimization products include Drilling Fluids, Solids Removal Units, Remote Fluid Testing Technologies, Rig Alignment Technologies and Drilling Productivity Technologies. Its rock knowledge sensors include Downhole Survey Sensors, Core Orientation Sensors, Gamma Logging Sensors, Structural Orientation Sensors and In-Field Sampling and Analysis. Its leading brands include AMC and REFLEX technologies. AMC develops, manufactures and supplies a range of drilling fluids, equipment, technologies and software. REFLEX technologies include downhole instrumentation, data management and analytical software for geological modelling.
Imdex Ltd. engages in the provision of mining equipment, technology, and services. The company is headquartered in Balcatta, Western Australia and currently employs 521 full-time employees. The firm is engaged in developing drilling optimization products and sensors to provide real-time rock knowledge and data. The firm is engaged in developing a range of drilling optimization products, rock knowledge sensors, and real-time data and analytics. Its drilling optimization products include Drilling Fluids, Solids Removal Units, Remote Fluid Testing Technologies, Rig Alignment Technologies and Drilling Productivity Technologies. Its rock knowledge sensors include Downhole Survey Sensors, Core Orientation Sensors, Gamma Logging Sensors, Structural Orientation Sensors and In-Field Sampling and Analysis. Its leading brands include AMC and REFLEX technologies. AMC develops, manufactures and supplies a range of drilling fluids, equipment, technologies and software. REFLEX technologies include downhole instrumentation, data management and analytical software for geological modelling.
Revenue: IMDEX reported 1H '21 revenue of $124.3 million, down 3% YoY but up 1.5% in constant currency, and rebounding 13% from 2H '20.
EBITDA Growth: EBITDA rose to $33.1 million, up 6% YoY and 43% from the prior half, reflecting higher rental and software revenue and cost controls.
Cash Position: Net cash increased to $47 million, up 84% YoY, supporting accelerated R&D and acquisition capacity.
Margins: EBITDA margins expanded, driven by a higher mix of rentals and software, and gross margins benefited from increased gyro tool deployment and lower fluids sales.
Operational Resilience: IMDEX maintained profitability and global operations despite COVID disruptions, with record instruments on rent in December and January.
Positive Industry Trends: Management cited strong commodity prices, rising exploration budgets, and demand for real-time data as positive outlook drivers.
Cost Efficiency: Structural changes and digital transformation have lowered costs, with travel and marketing spend not expected to return to pre-COVID levels.
Growth Outlook: The company expects continued strong demand in 2H '21 and is positioned for long-term sustainable growth.
