Emeco Holdings Limited Announces Audited Consolidated Earnings Results for the Year Ended June 30, 2018; Provides Financial Guidance for the Year 2019
August 20, 2018 at 06:33 pm EDT
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Emeco Holdings Limited announced audited consolidated earnings results for the year ended June 30, 2018. For the year, the company reported total revenue of $380,992,000 compared to $233,014,000 a year ago. EBITDA was $153,004,000 compared to $83,504,000 a year ago. EBIT was $83,193,000 compared to LBIT of $97,066,000 a year ago. NPAT was $20,068,000 compared to NLAT of $90,891,000 a year ago. Statutory profit was $11,376,000 compared to statutory loss of $180,463,000 a year ago. Basic EPS was 0.4 cents compared to LPS of 3.7 cents a year ago. Net cash flows from operating activities were $125,533,000 compared to $113,596,000 a year ago. Free cash flow after repayment of net debt was $155,174,000 compared to free cash outflow of $6,609,000 a year ago. Payment for property, plant and equipment was $80,500,000 compared to $30,715,000 a year ago. Net debt was $400.8 million compared to $457.1 million a year ago.
The Company expects to see additional growth in revenue and earnings in fiscal year 2019, driven by further increases in utilisation and rates, additional retail maintenance services, a full year contribution from Force and the completion of the acquisition of Matilda.
Emeco Holdings Limited is primarily involved in the provision of earthmoving equipment solutions and mining services solutions to its customers, as well as the maintenance and remanufacturing of major components of heavy earthmoving equipment. The Company is focused on surface and underground equipment rental. Its segments include Rental, Workshops and Pit N Portal. Rental segment provides a range of earthmoving equipment solutions to customers in Australia. Its additional technology platforms are developed to enable customers to improve the earthmoving efficiencies of their rental machines. Workshops segment provides maintenance and component rebuild services to customers in Australia. Its services include rentals, maintenance, fabrication, surface treatment, and others.