Mader Group 2026年第四季度业绩及战略规划电话会议纪要

发布时间：2026-08-25 一、AI总结内容 一、核心业绩（FY26） 1. 营收：录得10.11亿美元，同比增15%，超5年战略规划目标；其中澳大利亚营收7.9747亿美元（同比增16%），北美营收1.966亿美元（同比增12%/固定汇率增17%），其他地区（亚非等）部署近50名专业技术人员2. 利润：EBITDA 6540万美元，同比增15%，净利润430万美元，毛利率稳定，近5年核心EBITDA Margin波动不超0.6%3. 现金流：年末实现净现金3570万美元，较上年净债务830万美元大幅改善，运营现金流8500万美元，资本支出3000-3500万美元，与上年持平 二、战略规划（未来5年） 1. 增长目标：年化EPS增速15%，核心利润率维持稳定，年资本支出3000-5000万美元，拓展新市场；增长以有机为主，适时辅以小规模战略并购2. 核心布局：北美市场作为重点拓展方向，复制澳洲成熟模式；深耕澳洲本土基建、物流、国防及资源领域；推进员工全球化流动及技能升级，培养内部领导团队3. 风险应对：应对矿业周期波动，通过服务线多元化降低单一资源依赖；布局国防、基建等非周期行业，对冲资源行业周期性风险 三、问答环节核心要点 1. 增长来源：FY27增长主要来自澳洲及北美，FY26员工及营收实现适度增长2. 并购策略：倾向小规模互补型并购，用于快速进入新领域（如国防），而非大型并购，FY26已完成1笔小型国防相关咨询公司收购3. 行业布局：基建维修是澳洲重点拓展细分领域，国防领域已完成初步布局；北美电工、焊接等服务线有较大拓展空间4. 汇率影响：FY26汇率导致营收减损约820万美元，EBITDA减损约80万美元，若剔除影响营收约10.118亿美元 二、音频原文（转写） focused on EBITDA conversion was maintained. Operating cash flows before interest and tax as compared to EBITDA were 99%. This reflects the quality of our client base and trade receipt was ledto, as I mentioned earlier. Free cash flow generation continued to improve year-on-year. In FY'26, the group generated $57.5 million of free cash flow. This is reflective of the shift in capital requirements as the group expands its revenue base into new opportunities that are extremely capital light. This is expected to continue in to FY '27, with our capital expenditure expectedto be between 30 and 35 million dollars for theyear, which is about the same level as it was in FY '26. Given this, strong free cash flow generation is expected to continue into the new financial year. As I mentioned earlier, the group isnow in their cash position, much to the disappointment of our lenders. This place is made in anenviable position to tackle the next phase of growth. This funding flexibility will be criticalto achieving the next 5G strategic plan which Justin will talk about in a few slides time. That's all from me. Back to you, Dan. and gigs. うん、ぐっちゃりなんですね。 ほら。Right, yeah. So 5 years ago, the board laid the foundation for our future. while setting outsome key areas of focus in our food strategic plan as a publicly listed business. Since then, this has been a blueprint to kind of growth. The strategic plans that growth targets and operational goals in all key areas located culture at ourcore. Number one was geographical diversification. The second was service line diversification这。 of industry verticals and fourth and definitelynot waste, of course, to sell the existing business. Third ambition stretch target for impact was set. and successfully existing. And now with our first 5 years for the nuclear company, we look forward to the next 5 years and continued long-term growth beyond. with five years. we are embarking on it's the next stepping stone on the way to a generational plan to build major group into a large global industrial conglomerate. So let's take a deeper look at what the future lookslike. Over the next 5 years, Maden will activateaccelerated growth initiatives. in new serviceverticals as part of our global expansion strategy. Our focus will be on plan and learning. of h igh growth areas. regions and acquisitions increase development pathways capital investment intogrowth and new market ventures. All building blocks that we made towards the goal of becoming aglobally diversified industrial conglomerate. As always, Midas' strong culture continues to bethe foundation あれ、いつですか？ So let's have a look at what's expected over thecoming years. 嗯。over the next 5 years, the business expenses deliver the following things. sixty-three percent EPS growth per annum. existing strong margins are to be maintained capital investment of 30 to 50 million dollars per annum andexpansion into new markets. These initiatives will be pursued while maintaining a measured leverage position. and delivering market waiting returns on capital. So here we come to that growth trajectory. We might have a look at the core building. to delivering these next studies. So to look into the next phase, Mater is focused on thefollowing 5 core building blocks. continuing toincrease our footprint into the opportunity to reach North American markets. Continuing expansion across industries in Australia. and in new verticals Beyond our existing service lines, you'reorganic. any organic things? investing in workforce development pathways. andmaintain our cultural approach. together the building blocks positioning our businesses. FINDABLE PRICE while staying true to the values that define how to exist. And let's jump across to ourworkforce. A key differentiator for Mater is its unique global workforce opportunities. and culture that approach. As success is built on attracting and retaining a highly future. that delivers a premium service. service to our customers worldwide. We support our people through structured career development. including the global pathways initiative. which creates opportunities to work and grow across international markets. 一応、パスモールにしようぜ。 We also invest heavily in our leadership strate