MND +5.86%: FY22 was better than expected across most key metrics, EBITDA of $111m compared to $104m forecast while NPAT of $52.28m was around an 8% beat to consensus and up 11% YoY. They said the outlook for core markets continues to be strong, with the mining services company flagging a strong capex outlook in iron ore, battery metals and LNG, which supports the longer-term growth outlook for maintenance services. One trend we’ve seen in recent times is the miners guiding to lower dividends and more $$ in the ground, and companies like MND & NRW Holdings (NWH) will likely be the beneficiaries here.
MM is neutral /bullish MND ~$12
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