Monadelphous – 2025 Half-Year Results Summary
Overall Tone
Monadelphous delivered a solid half-year result, marked by revenue growth and a significant increase in profitability. Strong demand in maintenance and engineering construction services, combined with a well-managed balance sheet and contract wins, positions the company well for continued expansion. The outlook remains positive, driven by a robust project pipeline across resources, energy, and renewables.
Financial Results
| Financial Metric | 1H 2025 | Change vs 1H 2024 |
|---|---|---|
| Revenue | $1.051 billion | +4.2% |
| Adjusted EBITDA | $79.8 million | +30.2% |
| Operating Cash Flow | $93.1 million | Strong cash flow conversion of 145% |
| Adjusted Earnings Before Tax (EBT) | $61.7 million | +37.9% |
| Normalised EPS | 43.3 cents | – |
| Interim Dividend | 33 cents (fully franked) | – |
Outlook Commentary
The resources and energy sectors are expected to remain strong over the long term, supported by sustained global economic growth and decarbonisation efforts. Investment in renewables and energy transition projects is increasing, providing significant future opportunities for Monadelphous. Labour shortages continue to present a challenge, but the company is mitigating this through workforce development and retention initiatives.
Guidance Statements
Monadelphous anticipates high single-digit revenue growth for FY25, supported by a strong backlog of projects. Operating margins are expected to improve as the company focuses on efficiency and risk management. The balance sheet remains strong, providing flexibility for strategic acquisitions and expansions.
Results vs Market Expectations
Monadelphous’ results were in line with market guidance, with revenue growth and profitability exceeding some analysts’ expectations. The strong EBITDA performance, driven by operational improvements and non-operating gains, was a key highlight. Investors reacted positively, particularly to the robust cash flow and dividend declaration.
Market Positioning
Leading up to the results announcement, Monadelphous’ share price showed resilience, reflecting positive sentiment. The stock has seen moderate gains in the past week but remains below its 52-week high. Investors are likely to focus on the company’s execution of its project pipeline and ability to sustain margins amid labour and supply chain constraints.
Disclaimer: This information is provided purely for educational purposes. It takes no account of an individual’s personal financial circumstances and hence can in no way constitute financial advice. The above data may be subject to errors or inconsistencies for which the author takes no liability. It is imperative that all investors do their own research or if they need advice, seek it from a qualified financial adviser.
Quick Take: H1FY25 ASX:MND