Perth-based tradie supplier Mader Group is angling to latch onto a new wave of work it believes will open up in America under the pro-business agenda of US President Donald Trump.
The listed contractor reported “record” revenue of $411.5 million for the six months to the end of December, a 10 per cent increase on the same period a year before, while after-tax profit was up 7 per cent to $26m.
It represents further balance sheet growth for the company that was founded by Luke Mader in 2005, listed on the ASX in 2019 and now has a market capitalisation of $1.22 billion.
The business supplies heavy equipment mechanics, welders and electricians for mining, energy and industrial operations.
The overwhelming majority of Mader’s earnings are made in Australia, but it has called out the US and Canada as new markets where it can secure a foothold.
A wobbly second half in the previous financial year was marred by mine closures in the US that shifted staff off-site amid a backdrop of pre-election uncertainty.
Mader says it has now returned to growing its American headcount.
Revenues in North America fell 15 per cent from $94.2m to $79.8m, according to Tuesday’s half-year results, but the group maintained that fundamentals in the region remained strong.
“In the United States strong fundamentals and business development efforts supported a positive growth trajectory throughout 1H FY25,” Mader said.
“The business unit is focused on securing new customers as it continues to penetrate the major mining regions of the United States under a pro-business and resources administration backed by strong commodity prices.”
Mader said it had grown staff numbers by about 15 per cent each month over the past six months, lifting its total workforce to more than 3500.
In Australia, the group noted a more “stabilised” labour market following a string of site closures due to weak commodity prices.
The half-year performance puts Mader on track to reach targeted revenue and profit guidance of $870m and $57m, respectively. Beyond that, it aims to hit revenue of $1b in the 2026 financial year.
Mader shares were down nearly 3 per cent to $6 at 1.45pm.
https://thewest.com.au/business/contracting/perth-tradie-supplier-mader-emboldened-to-persist-with-us-growth-now-trump-is-behind-the-wheel–c-17841991
