Macmahon Holdings Ltd
ASX:MAH
Macmahon Holdings Ltd
Macmahon Holdings Ltd. engages in providing mining services. The company is headquartered in Perth, Western Australia and currently employs 6,082 full-time employees. The firm operates through three segments: Surface Mining, Underground Mining and International Mining, which are aggregated into the Mining segment. The Mining segment provides a range of mining services for surface and underground mining, civil and rehabilitation services, equipment maintenance, rentals and management. The firm also provides engineering services, including design, construction and a range of engineering services on site to deliver on client needs from the design phase right through to completion. The firm offers various services, including surface mining, underground mining, plant & maintenance, civil construction and many others. Its subsidiaries include TMM Group and GBF Group.
Macmahon Holdings Ltd. engages in providing mining services. The company is headquartered in Perth, Western Australia and currently employs 6,082 full-time employees. The firm operates through three segments: Surface Mining, Underground Mining and International Mining, which are aggregated into the Mining segment. The Mining segment provides a range of mining services for surface and underground mining, civil and rehabilitation services, equipment maintenance, rentals and management. The firm also provides engineering services, including design, construction and a range of engineering services on site to deliver on client needs from the design phase right through to completion. The firm offers various services, including surface mining, underground mining, plant & maintenance, civil construction and many others. Its subsidiaries include TMM Group and GBF Group.
Strong Growth: Macmahon delivered 11% revenue growth to $1.3 billion and 17% EBITA growth to $91 million in the first half, continuing its track record of expansion.
Margin Improvement: Both Mining and Civil Infrastructure segments saw improved margins, with Civil EBITA margin rising to 6.2% and Mining benefiting from operational improvements.
Cash Generation: Free cash flow rose to $39.3 million despite higher tax payments, enabling a reduction in net debt and gearing to 17%.
Dividend Boost: The interim dividend was raised by 73% to $0.095 per share, reflecting confidence in sustained earnings growth.
Diversification: Civil Infrastructure now contributes 23% of group revenue, and the company continues to push for greater revenue mix from Indonesia and higher-ROACE services.
Guidance Reaffirmed: Full-year FY26 guidance for revenue of $2.6–$2.8 billion and underlying EBITA of $180–$195 million was reaffirmed.
Robust Pipeline: Order book stands at $5.1 billion with a $25.6 billion tender pipeline, of which around $14 billion is expected to be awarded in the next 12 months.
