Matrix Composites & Engineering Limited
MCE.ASXEnergy
The manufacture and supply of specialised engineered products and services to the global oil and gas exploration and production sector using syntactic foam and thermoplastic technologies.
Market Data
$0.390
+0.0%$87.6M
-100000.0x
$-0.057
0.00%
+0.4%
Latest Earnings
Dec 25 Half Year Results ASX Announcement
27 February 2026
Matrix Composites reported 1H FY26 revenue of $26.9M (down 32% from $39.4M in 1H FY25) due to timing of Subsea Buoyancy project deliveries, with an underlying EBITDA loss of $4.1M and statutory net loss of $9.4M. However, the company has secured $80M in FY26 revenue heavily weighted to H2, positioning it for full-year revenue growth above FY25's $74.8M and positive EBITDA, supported by a strong $300M+ SURF quotation pipeline and improved NAB debt facilities. Key points: Strong order book with $80M of FY26 revenue secured and heavily weighted to H2, positioning for significant operational ramp-up; Operating cash flow improved to $1.4M inflow in 1H FY26 vs $4.7M outflow in 1H FY25, demonstrating working capital management; Refinanced $7.5M Convertible Note with NAB debt facility offering improved pricing, size, and flexibility for future project funding
Recent Announcements
Becoming a substantial holder
Harvest Lane Asset Management Pty Ltd became a substantial holder.
Becoming a substantial holder
Cleve 2 Pty Ltd and CSFT1 became substantial holders of Matrix Composites and Engineering (MCE) on 14/4/26, acquiring a combined voting power of 6.50% through purchases of ordinary shares totaling 14,594,341 securities. The acquisitions were made between 2 July 2025 and 14 April 2026 at various prices ranging from approximately $0.11 to $0.40 per share.
Ceasing to be a substantial holder from PPT
PPT ceased to be a substantial holder.
Becoming a substantial holder
Family Settlement 2015 (SFS Trust) and Nicholas Parsons and Angus Collingwood-Cameron as trustees of the Suzanne became a substantial holder.
Becoming a substantial holder
Advanced Innergy Holdings Limited ACN 687 262 479 (AIH), its wholly owned subsidiary Advanced Innergy Solutions became a substantial holder.
Dec 25 Half Year Results ASX Announcement
Matrix Composites reported 1H FY26 revenue of $26.9M (down 32% from $39.4M in 1H FY25) due to timing of Subsea Buoyancy project deliveries, with an underlying EBITDA loss of $4.1M and statutory net loss of $9.4M. However, the company has secured $80M in FY26 revenue heavily weighted to H2, positioning it for full-year revenue growth above FY25's $74.8M and positive EBITDA, supported by a strong $300M+ SURF quotation pipeline and improved NAB debt facilities. Key points: Strong order book with $80M of FY26 revenue secured and heavily weighted to H2, positioning for significant operational ramp-up; Operating cash flow improved to $1.4M inflow in 1H FY26 vs $4.7M outflow in 1H FY25, demonstrating working capital management; Refinanced $7.5M Convertible Note with NAB debt facility offering improved pricing, size, and flexibility for future project funding
Dec 25 Half Year Results Investor Presentation
Matrix Composites & Engineering Ltd released its 1H FY26 half-year results presentation showing revenue of $26.9m (down from $39.4m due to subsea project timing), underlying EBITDA loss of $4.1m, but expects full-year FY26 revenue of $80m+ with positive EBITDA underpinned by $50m+ of secured 2H work and strong subsea market momentum.
Appendix 4D and Dec 25 Half Year Accounts
Matrix Composites reported a stark reversal in H1 FY2026, posting a net loss of $9.4m versus a $1.0m profit in the prior corresponding period, driven by a 31.8% revenue decline to $26.9m as major project manufacturing is heavily weighted to H2. Management expects full-year revenue to remain at or exceed FY2025's $75m level with a busy second half ahead, but near-term profitability remains challenged by fixed costs being incurred evenly across the period. Key points: Operating cash flow turned positive at $1.4m inflow versus $4.7m outflow in prior period, aided by collections from prior-year projects; Cash position remains solid at $18.0m with new NAB facility of $7.5m corporate market loan plus $5m working capital and $20.5m bank guarantee facilities; Full-year revenue guidance maintained at similar or higher than FY2025's $75m with busy second half expected
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