External broker reports(aggregated public sources), Euroz Limited

Euroz Hartleys

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External broker reports(aggregated public sources)

Euroz Limited

Equity Bottom-Up

Matrix Composites & Eng / Equity Bottom-Up

<ul><li>MCE reported 1H25 result, earnings exceeded our expectations although the outlook for the balance of the financial year has been downgraded</li><li>Revenue: $39.4m +48% vs pcp (EHe: $36.0m). EBITDA: $3.2m +433% vs pcp (EHe: $2.5m)</li></ul><div><ul><li>Net Cash (ex leases): $8.3m (FY: $14.4m), was impacted by elevated receivables at balance date that have subsequently been receipted. Cash as at reporting has increased by $3.5m to $19.2m.</li></ul></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

MCE reported 1H25 result, earnings exceeded our expectations although the outlook for the balance of the financial year has been downgradedRevenue: $39.4m +48% vs pcp (EHe: $36.0m). EBITDA: $3.2m +433% vs pcp (EHe: $2.5m)Net Cash (ex leases): $8.3m (FY: $14.4m), was impacted by elevated receivables at balance date that have subsequently been receipted. Cash as at reporting has increased by $3.5m to $19.2m.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Matrix Composites & Engineering Ltd - Solid 1H25; Award Delays Impact Short Term Outlook