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12/16 08:07
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Financial Performance: Matrix Composites & Engineering Ltd reported a revenue of $74.8 million for FY25, a 12% decrease from the previous year but a 60% increase from FY23, with a loss after tax of $2.2 million.
Subsea Revenue Contribution: Nearly 90% of total revenue came from the SURF product line, and recent awards worth $45 million are expected to enhance momentum into FY26, supported by a subsea order book of just under $60 million.
Cash Position and Tax Losses: The company holds $18.3 million in cash and has retained tax losses of $140 million, which are tax effective at $42 million, indicating financial stability despite operational challenges.
Market Challenges and Future Outlook: Matrix faces challenges with workforce utilization and project timing, but anticipates growth in advanced materials and corrosion technologies, alongside competitive quotations in the surf market expected to be awarded over the next 18 months.
