I was nervous about these results, given they waited until after the market closed on the last day of the reporting season. However, overall I'm happy with these financials.
Analysts had forecasted NPAT of $12.47m, against the actual result of $14.1m. So, it appears that they beat the market forecast.
Their EBITDA forecast (pre AASB 16) was $26m to $28m. So, at $29.6m, it appears that they exceeded their forecast as well.
Positively management has also indicated the demand improved in May and trading in July and August has led to improved financial performance. Plus they have indicated that margin improvement is expected in FY2025.
So at a sub 7x PE ratio and with expected growth in earnings in FY2025, I think MTO is a good buy.
What is everyone else thinking?
MTO Price at posting:
$1.30 Sentiment: Buy Disclosure: Held
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