Diluted HEPS -753cps, down 416% y-y from FY22 HEPS of 238cps.
Strong growth in revenue (+28.1% y-y) over the restated FY22 results, driven by a strong performance by McConnell Dowell (+36.3% y-y).
GPM fell from 7.9% to 1.5%, largely due to the losses suffered at the Batangas LNG project.
OPM decreased from 1.6% to -3.7%.
Expenses increased by 11.6% y-y, while expense to sales improved from 6.4% to 5.6%.
No dividend.
Order book improved from R30.8bn to R44bn, driven by McConnell Dowell as well as a strong improvement from Moolmans which secured the Tshipi é Ntle project.
Trident Steel disposal completed and legacy debt repaid. Gross debt increased by 112% y-y to R1bn, of which c. 70% is asset backed financing and c. 30% relates to term debt secured for the BLNG project.
