AUS
NZ
UK
CA
USA
IND
Highlights
- Maas Group Holdings reported a marginal 0.27% YoY revenue increase to AUD 473.94 million for 1HFY25.
- In 1HFY25, the company's underlying EBITDA declined by 2.16% YoY, while net profit after tax dropped by 7.5% to AUD 31.33 million.
- MGH reaffirmed its FY25 guidance, expecting underlying EBITDA between AUD 215 million and AUD 245 million, and plans asset sales exceeding AUD 100 million.
Maas Group Holdings Limited (ASX:MGH) is an Australian provider of construction materials, equipment, and services. The company has a diversified presence across the civil and infrastructure sectors. In the half-year ended 31 December 2024 (1HFY25), MGH reported a slight year-on-year (YoY) revenue increase of 0.27% to AUD 473.94 million, up from AUD 472.65 million in 1HFY24. This growth was largely driven by higher sales volumes across concrete, asphalt, quarry products, and land inventory. However, underlying EBITDA slipped by 2.16% YoY to AUD 95.01 million, while net profit after tax attributable to owners fell by nearly 7.5% YoY to AUD 31.33 million from AUD 33.85 million in the same period last year.
Despite this, MGH remained proactive by repurchasing 13,267 of its shares as of 8 May 2025 under an on-market buy-back program.
During the reported period, the company recorded a gross profit margin of 52.6%, significantly above the industry median of 10.2%, and a current ratio of 1.88x, compared to the industry median of 1.16x.
Nonetheless, challenges remain. MGH experienced a decline in asset turnover (0.29x in 1HFY25 vs 0.32x in 1HFY24) and a drop in operating margin (9.4% vs 12.0%), suggesting margin pressures.
Outlook
MGH has reaffirmed its financial outlook for FY25, projecting underlying EBITDA between AUD 215 million and AUD 245 million. The company also expects to sell assets worth over AUD 100 million during the fiscal year.
Growth Prospects for Industrial Stocks
Furthermore, macroeconomic trends in Australia provide a supportive backdrop. According to data from the Australian Bureau of Statistics, business turnover has been rising since September 2024, with a 0.5% increase in March 2025 (trend terms) and 0.4% seasonally adjusted growth. Sectors such as wholesale trade (+2.2%), telecommunications (+1.8%), and manufacturing (+1.6%) posted the most significant gains, boding well for industrial and infrastructure-focused firms like MGH.
Share performance of MGH
MGH shares closed 0.68% lower at AUD 4.37 per share on 12 May 2025. In a month, the share price has increased by almost 16.53% and on a year-to-date basis it has lost 8.79%.
52-week high of MGH is AUD 5.05, recorded on 2 December 2024 and 52-week low is AUD 3.30, recorded on 7 April 2025.
Support and Resistance Summary
Note 1: Past performance is neither an Indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, and currency, is 12 May 2025. The reference data in this report has been partly sourced from EODHD/Others.
Technical Indicators Defined:
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.
Disclaimer
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