Electrification beneficiary, with good level of profitability, page-9

Interesting to look at the details of MDE* (acquired by SCEE) which seems to have a comparable business to Mayfield.
MDE expects to have an operating margin of 15 % in FY 24.
This is to compare with an EBITDA margin of 10 % for Mayfield for H1 24.
Based on this, Mayfield has probably still a significant potential to improve its margin.

Also interesting to note that MDE is expected to have a further strong growth for its EBIT in FY 25, as it expects an increase of 67 % of its EBIT in FY 25 (at least 5 m$ vs 3 m$ in FY 24).

* most of their existing business is in NSW.