Mader Group (MAD) H2 2025 earnings summary

Executive summary

• Achieved record FY 2025 revenue of $872.2 million, up 13% year-over-year, with net earnings (NPAT) of $57.1 million, also up 13%.

• Net debt reduced by 73% to $8.3 million, strengthening the balance sheet and providing funding flexibility.

• Marked 20 years of operation, with a global workforce of nearly 4,000 technicians serving 490+ customers in 640+ locations.

• Growth momentum continues as the company enters the final year of its five-year strategic plan, with all prior NPAT targets exceeded.

• Global headcount increased by over 700, with improving customer demand and North America returning to growth.

Financial highlights

• Revenue increased 13% year-over-year to $872.2 million, with NPAT margin stable at 6.6%.

• EBITDA rose to $109.5 million (12.6% margin), and EBIT to $84.0 million (9.6% margin).

• EPS increased 12% to $0.2835 per share; dividends per share up 13% to $0.088, with a payout ratio of 31%.

• Net debt reduced by $22.9 million to $8.3 million; net assets increased to $212.3 million.

• Free cash flow grew 52% to $42.7 million, with strong cash conversion at 101%.

Outlook and guidance

• FY 2026 guidance set at at least $1 billion in revenue and at least $65 million in NPAT.

• Business expects to transition to a net cash position in FY 2026.

• North America targeted as a key growth pillar, with continued focus on geographical and service diversification.

• Continued focus on organic growth, with inorganic opportunities under consideration.

• Strategic plan for the next five years is being finalized.