AJ Lucas Group (AJL) H2 2024 earnings summary

Executive summary

• FY2024 results show stronger revenue and operating earnings, led by Australian Drilling operations.

• Net loss for the year was $0.7 million, despite improved operational performance.

Financial highlights

• Revenue increased to $159.1 million from $157.6 million in FY23.

• Group EBITDA rose 23.4% to $29.2 million year-over-year.

• Profit before interest and tax (excluding impairment) up 31.9% to $21.7 million.

• Cash reserves grew to $16.8 million from $14.0 million.

Outlook and guidance

• Forward order book remains historically strong, supported by new entrants in the coal market.

• Market fundamentals for metallurgical coal remain robust, driving demand for drilling services.