Emeco Holdings Limited · ASX:EHL
Emeco — FY2025 Earnings Presentation
31 slides from Emeco's earnings presentation, Aug 20, 2025
Slide 1: FY25 Results
20 August 2025 EMECO HOLDINGS LIMITED 1 FY25 RESULTS EMECOGROUP.COM
Slide 2: Important Notices and Disclaimers
IMPORTANT NOTICES AND DISCLAIMERS Reliance on third party information The information and views expressed in this Presentation were prepared by Emeco Holdings Ltd (the Company) and may contain information that has been derived from publicly available sources that have not been independently verified
Slide 3: Agenda and Presenters
AGENDA BUSINESS HIGHLIGHTS 4-6 OPERATIONAL OVERVIEW 7 - 10 FINANCIAL RESULTS 11 - 15 STRATEGY & SUSTAINABILITY 16 - 22 FY26 PRIORITIES & OUTLOOK 23 - 26 PRESENTERS Ian Testrow Managing Director & CEO Theresa Mlikota Chief Financial Officer EMECOGROUP.COM 3
Slide 4: Business Highlights
BUSINESS HIGHLIGHTS EMECOGROUP.COM 4
Slide 5: FY25 Business Highlights
FY25 BUSINESS HIGHLIGHTS Robust earnings growth, strong margin growth and cash generation - resilient business model Financial Operating NPAT1 Revenue2 Emeco delivered another solid year of earnings growth 22% 7% — Robust revenue growth (excl. underground contract mining), up 7% — Strong earnings
Slide 6: Performance History – Half on Half
PERFORMANCE HISTORY – HALF ON HALF Consistent delivery of improved returns and cash flow and stronger balance sheet Revenue ($m) 1 Operating EBITDA ($m) 2 Operating EBIT ($m) 2 Operating NPAT ($m) 2 46 383 387 398 155 39 38 355 348 137 137 143 146 77 35 309 64 65 68 33 115 61 40 20 1H23 2H23 1H24 2H
Slide 7: Operational Overview
OPERATIONAL OVERVIEW EMECOGROUP.COM 7
Slide 8: Safety
SAFETY Safety remains our key priority CLIENT BENEFITS: 3.4 3.2 2.8 2.1 1.9 0.3 0.0 0.0 0.0 0.0 FY21 FY22 FY23 FY24 FY25 TRIFR LTIFR The Total Recordable Injury Frequency Rate (TRIFR) has increased from 2.8 recorded as at 30 June 2024 to 3.4 as at 30 June 2025 and the Lost Time Injury Frequency ra
Slide 9: Rental Highlights
RENTAL HIGHLIGHTS Rental remains the driving force behind Emeco’s earnings and cash flow growth Revenue1 Operating EBIT2 Operating EBITDA2 REVENUE OBJECTIVE 1 EBIT EBITDA 9% 11% 6% FY25 $615M FY25 $181M FY25 $329M FY24 $565M FY24 $163M FY24 $309M Australia’s largest provider of mining rental equipme
Slide 10: Force Highlights
FORCE HIGHLIGHTS Our Force workshop and field service capabilities are our competitive advantage – delivering cost-efficient maintenance and rebuilt equipment for our customers and rental business External Revenue Operating EBIT1 Operating EBITDA1 2% $1.1M $0.4M FY25 $170M FY25 $8.3M FY25 $15.4M FY2
Slide 11: Financial Results
FINANCIAL RESULTS EMECOGROUP.COM 11
Slide 12: Operating Profit and Loss
OPERATING PROFIT AND LOSS Emeco continues to deliver robust earnings growth, driven by improvements in R&M management, procurement, overhead costs and commercial contract terms Revenue OBJECTIVE 1Highlights EBIT EBITDA $m FY24 1H25 2H25 FY25 Unless otherwise stated Commentary External revenue (exclu
Slide 13: Cash Flow
CASH FLOW 32% increase in operating free cash flow v pcp. Cash conversion of 97% FY25 Cash Flow ($m) Revenue OBJECTIVE 1 EBIT EBITDA Overview Strong cash conversion of 97% 301.1 ( 12.7 ) Operating Free Cash Flow of $114 million, 32% higher than ( 24.9 ) pcp Net sustaining capex (net of disposa
Slide 14: Balance Sheet
BALANCE SHEET Balance sheet strength continues to improve with leverage now at 0.65x. Well positioned ahead of refinancing. $m 30 June 2024 30 June 2025 Overview Revenue OBJECTIVE EBIT1 EBITDA Plant & equipment 783.7 803.9 Balance sheet strength continues to improve. Net leverage1 improved to Righ
Slide 15: Debt Maturity Profile and Liquidity
DEBT MATURITY PROFILE AND LIQUIDITY Committed and undrawn facilities provide flexibility. Drawn debt maturity at 30 June 2025 $m 30 June 30 June Revenue OBJECTIVE 1 EBIT EBITDA 2024 2025 AMTN AUD Notes1 250.0 250.0 $ million 300 Term facilities – RCF2 (excludes bank guarantee facilities) 95.0 95.0 2
Slide 16: Strategy and Sustainability
STRATEGY AND SUSTAINABILITY EMECOGROUP.COM 16
Slide 17: Our Scale and Competitive Advantage
OUR SCALE AND COMPETITIVE ADVANTAGE Our mid-life rebuild model and onsite service capability, combined with our asset management and condition monitoring technologies are our competitive advantage. Delivered through our national footprint of workshops and field service units, Emeco provides industry
Slide 18: Technological Capabilities
TECHNOLOGICAL CAPABILITIES Enterprise Digitisation (Internal) Emeco continues to invest in digital systems and automation across the enterprise to drive operational efficiency and enable our people to OBJECTIVE 1 EBIT EBITDA Revenue execute at their best. This includes standardising work practices
Slide 19: Emeco Customer and Revenue Profile
EMECO CUSTOMER AND REVENUE PROFILE Emeco maintains strong relationships with its high-quality customer base, across a range of commodities and geographies, with strong demand for our fully maintained project solutions Strong Customer Relationships Diversified Revenue Base with Strong Credit Profile
Slide 20: Emeco's Strategy
EMECO’S STRATEGY Emeco’s strategic pillars ensure a sustainable and resilient business and the creation of long-term value for shareholders OBJECTIVE 1 EBIT EBITDA Be Australia’s lowest 01 02 03 cost, highest quality, Maintain a balanced Exercise disciplined technology- driven and diversified capita
Slide 21: Targeting 20% ROC and Improved Cash Generation
TARGETING 20% ROC AND IMPROVED CASH GENERATION Good progress on our journey to deliver 20% ROC target, with key procurement, labour and cost initiatives delivered. 2H25 ROC run-rating at 18% Return on Capital1 drivers % Free Cash Flow $million 20% (before growth capex)2 17% 15% 140 120 114 FY25 87 F
Slide 22: Environmental, Social & Governance
ENVIRONMENTAL, SOCIAL & GOVERNANCE Our focus continues to ensure that our business model drive creative solutions for our customers, in a safe and thriving environment for our employees, whilst supporting the communities in which we operate and delivering sustainable returns for our shareholders.
Slide 23: FY26 Priorities and Outlook
FY26 PRIORITIES AND OUTLOOK EMECOGROUP.COM 23
Slide 24: FY26 Priorities & Outlook
FY26 PRIORITIES & OUTLOOK Business Priorities FY26 Outlook Core Business FY26 will focus on improving the financial metrics of our business with a particular focus on return on capital, margins, cashflow and leverage, whilst increasing our fleet utilisation, building our competitive Focus on bus
Slide 25: Emeco Investment Highlights
EMECO INVESTEMENT HIGHLIGHTS 1 2 3 Australia’s largest mining Focused on delivering strong Scale and asset management equipment rental provider with returns and free cash flow expertise provide cost and national footprint generation quality advantage 4 5 6 Diversified by customer, project Strong bal
Slide 26: Appendix: Additional Information
APPENDIX: ADDITIONAL INFORMATION EMECOGROUP.COM 26
Slide 27: Revenue Analysis
REVENUE ANALYSIS Revenue by commodity Revenue by geography Revenue by type Revenue by customer – Top 10 FY25 FY25 FY25 FY25 WA Customer 1 7% Met Coal Rental Surface Customer 2 4% 4% 18% 22% Customer 3 27% Gold 14% QLD 32% Customer 4 19% Iron Ore Rental Underground Customer 5 3% 10% Thermal Coal Cust
Slide 28: Reconciliations: Statutory to Non-IFRS Disclosure
RECONCILIATIONS: STATUTORY TO NON-IFRS DISCLOSURE EMECOGROUP.COM 28
Slide 29: Reconciliations – Statutory to Non-IFRS Disclosure
RECONCILIATIONS – STATUTORY TO NON-IFRS DISCLOSURE FY24 FY25 Statutory to operating reconciliation Statutory to operating reconciliation $m NPAT EBIT EBITDA $m NPAT EBIT EBITDA Revenue OBJECTIVE 1 EBIT EBITDA Revenue Statutory 52.7 101.4 273.0 Statutory 75.1 132.2 288.6 Tangible asset impairment (ex
Slide 30: Reconciliations – Statutory to Non-IFRS Disclosure
RECONCILIATIONS – STATUTORY TO NON-IFRS DISCLOSURE Cash flow reconciliation Net debt and leverage reconciliations $m FY24 FY25 30 June 30 June $m OBJECTIVE 1 2024 2025 Operating EBITDA Revenue 280.5 301.1 EBIT EBITDA Revenue AMTN AUD secured notes 250.0 250.0 Working capital (14.2) (12.7) Revolving
Slide 31: Thank You
Thank You Investor enquiries: Theresa Mlikota Chief Financial Officer Investor.relations@emecogroup.com emecogroup.com EMECOGROUP.COM