Millennium Services Group announced earnings results for the full year ended June 30, 2017. For the full year, the company reported, on pro-forma basis, revenue was AUD 250.0 million against AUD 157.2 million a year ago. EBITDA was AUD 17.9 million against AUD 12.1 million a year ago. On statutory basis, the company reported total revenue of AUD 227.3 million against AUD 105.4 million a year ago. Reported EBITDA was AUD 15.8 million against AUD 4.2 million a year ago. NPAT was AUD 6.2 million against AUD 0.7 million a year ago. Operating EBITDA was AUD 16.8 million against AUD 9.1 million a year ago. Profit before tax was AUD 8.5 million against AUD 2.0 million a year ago. Normalized EBITDA was AUD 18.9 million against AUD 12.1 million a year ago. Net debt was AUD 21.7 million as on June 30, 2017. Net cash flow from operations was AUD 11.0 million, cash capex was AUD 1.6 million, statutory capex was AUD 3.7 million, free cash flow was AUD 9.4 million and remaining free cash flow was AUD 5.3 million.

For 2018, the company expects pro-forma revenue of approximately AUD 290 million, growth of 16% year-on-year; pro-forma EBITDA of approximately AUD 20 million, growth of 12% year-on-year; NPAT of approximately AUD 7 million, growth of 13% year-on-year; and EPS of approximately 15 cents per share, growth of 13% year-on-year.

Due to the expected revenue and margin skew to the second half of 2018, first half of 2018 revenue is expected to represent approximately 46% of 2018 revenue whilst first half of 2018 EBITDA is expected to represent approximately 30% of 2018 EBITDA.