Mitchell Services Limited (MSV) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

us today. My name is Alan Chan from Bridge Street Capital, and today we are here to host Mitchell Services' half-year result for 2025. I have with us today Nathan Mitchell, who is Executive Chair, Andrew Elf, CEO, and Greg Sotala, CFO. If you could please put any questions in the Q&A and I'll address them at the end. But over to you, Andrew and Nathan and Greg to start. Thank you. Thanks very much, Alan and team, and thanks for the introduction and welcome everyone and appreciate the interest. Obviously, we recently had an update call with our quarterly, so there's certainly the half year is out, but no real surprises from what's already been put out there. So we'll do a quick run through and then open it up for questions and certainly welcome any questions at the end of the presentation. So I'll just move straight to slide four, market profile, and take the disclaimer as being read. Slight movement in holding for Mitchell Group there, obviously, Nathan and his group, just on the basis of a little bit of market buyback in recent times and also some direct purchases on market as well. And as everybody would know, that buyback's on foot. And I think financial year to date, we're probably up around the half a million mark. Just on slide five, As I said, no surprises here in regards to anything we haven't already said. But again, even though the half isn't as good as we would want it to be for various reasons, still some good operating cash flow coming through, gross debt down that Greg will talk to. And obviously, we've invested into the right places in the business. And as I said, that buyback is on foot. And is it about that half a million dollar mark? Importantly too, from a safety perspective, no material safety incidents for the half and our safety performance acro...