Sharenet Sites 
Sharenet Sites
Trading Statement
MURRAY & ROBERTS HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1948/029826/06
JSE Share Code: MUR
ISIN: ZAE000073441
("Murray & Roberts" or the "Group")
TRADING STATEMENT FOR THE YEAR ENDED 30 JUNE 2024
A re-engineered and revitalised Group
The voluntary administration of the Group's Australian businesses in December 2022 and
the loss of dividend flows from these businesses created severe liquidity constraints during
the year under review. Significant effort went into rightsizing our cost structures towards
creating financial stability. We redesigned the Group's operating model and management
structure, and reduced overhead costs across the Group, including in the corporate office.
It is expected that a saving in corporate costs of more than R100 million per annum, when
compared to FY2023, will be realised from FY2025.
Through the implementation of a deleveraging plan agreed with a consortium of South
African banks, the Group reduced its South African debt from approximately R2 billion in
April 2023, to R409 million. The Group continues to engage with the banks regarding the
repayment of the remaining debt and remains committed to refinance this debt -
negotiations with potential funders are continuing.
Financial Results
The Group delivered an improved financial performance for the year under review, not only
for continuing operations, but also at an attributable earnings level which, for the prior year,
included losses associated with the deconsolidation of the Australian businesses. The
Group moved from a net debt position to a net cash position, grew earnings and increased
its order book.
The Group expects to report FY2024 results within the following ranges:
Results from continuing and discontinued operations
FY2024 FY2024 FY2023*
Expected Expected Actual
range range cps loss
% cps loss
HEADLINE LOSS PER SHARE
Basic 90 - 94 (47) - (27) (473)
Diluted 90 - 94 (47) - (27) (473)
LOSS PER SHARE
Basic 94 - 97 (44) - (24) (789)
Diluted 94 - 97 (44) - (24) (789)
*Inclusive of the loss from the deconsolidation of MRPL, Clough and RUC.
Results from continuing operations
FY2024 FY2024 FY2023
Expected Expected Actual
range range result
% cps loss cps loss
HEADLINE LOSS PER SHARE
Basic 59 - 73 (29) - (19) (71)
Diluted 59 - 73 (29) - (19) (71)
LOSS PER SHARE
Basic 63 - 77 (26) - (16) (71)
Diluted 63 - 77 (26) - (16) (71)
OUTLOOK
We are looking forward to FY2025, as the first year of a re-engineered, revitalised and
refocused Murray & Roberts. Our mining businesses are well established and are expected
to continue doing well over the short- to medium-term. OptiPower is expected to deliver a
modest earnings contribution as from FY2025, by capitalising on Eskom's transmission
build-out plans. The Group is positioned to pursue opportunities for growth, mostly through
its international mining businesses and our expectation is to see the Group returning to pre-
pandemic levels of earnings from FY2027.
PUBLICATION OF ANNUAL FINANCIAL RESULTS
Murray & Roberts intends to publish its annual financial results for the year to 30 June 2024
on SENS on Wednesday, 11 September 2024, before 17:00 (CAT).
The information contained in this announcement has not been reviewed and reported on by
Murray & Roberts' external auditors.
Bedfordview
28 August 2024
Sponsor
The Standard Bank of South Africa Limited
Date: 28-08-2024 01:33:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
