Matrix Composites & Engineering Ltd (ASX:MCE)
A$ 0.32 -0.01 (-3.03%) Market Cap: 70.26 Mil Enterprise Value: 92.41 Mil PE Ratio: 0 PB Ratio: 3.04 GF Score: 38/100
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Matrix Composites & Engineering Ltd Annual Shareholders Meeting Transcript

Dec 15, 2021 / 02:00AM GMT
Release Date Price: A$0.149566 (+5.08%)
Peter John Hood
Matrix Composites & Engineering Ltd - Independent Non-Executive Chairman

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Our CEO, Aaron Begley, will then provide a more comprehensive presentation on our operations and outlook following the formal proceedings.

Throughout the 2021 financial year, Matrix continued to navigate a very challenging period in the oil and gas sector. This originated in FY '20 following the onset of the COVID-19 pandemic. Our first half in FY '21 was particularly impacted, reflecting the dramatically weak oil price and broader COVID-19 global impacts on the oil and gas sector.

We recorded revenue of $8.1 million for the half compared to $22.6 million in the prior corresponding period. This eventually led to a full year revenue result of $17.6 million compared to $27.4 million in the prior corresponding period and an underlying EBITDA loss of $4.4 million versus a $3.7 million loss in FY '20. So these were 2 very hard years one after the other.

However, we did generate $6 million of revenue in the final quarter of FY '21 as the COVID-19 situation

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