Revenue increased 35% from the previous financial year to $259.5 million while earnings before interest, taxes, depreciation and amortisation gained 30% to $100.6 million.
Industrea gained more than $100 million in new contracts won by its diesel equipment, technology and international businesses, with the equipment supplier and manufacturer saying it had more than doubled new business signed from the prior year.
“A feature of the past year’s new business performance has been Industrea’s ability to generate higher levels of recurring income, through securing multiple contract wins with some of the world’s pre-eminent mining groups generating significant recurring spares, service and support revenues,” Industrea said.
“Customers now being served on a multi-contract basis include BHP Billiton, Rio Tinto Coal, Xstrata, Anglo Coal, Shenhua Energy Company, Jincheng Group and Shanxi Asian American Daning Energy.”
China’s efforts this year to improve the safety and productivity of its coal industry have also helped Industrea gain more sales, particularly with its gas drainage equipment, with the company landing another $13.6 million from new Chinese contracts this week.
For 2008-09, total revenue from gas drainage directional drilling systems, collision avoidance systems and specialist underground longwall equipment increased 78% to $125 million.
Industrea roof support carriers have also found their way into Chinese longwall mines, with the company winning a $20 million contract to provide six to China Shenhua Energy.
This year, Industrea delivered custom-made carriers to transport the world’s biggest powered roof supports at Moranbah North.
The equipment supplier also made its first sales into South Africa to install collision avoidance technology at three mines run by BHP Billiton under a $US9.5 million contract.
For the current financial year, Industrea aims to focus on more business growth in the Hunter Valley and in Queensland’s Bowen Basin, particularly from subsidiary Huddy’s Mining Services.
“A large portion of Industrea’s operational and new business focus in FY10 will remain on thermal coal, which remains one of the global resource industry’s most stable sectors,” the company said.
“This is particularly so in China, which remains Industrea’s growth engine, where the country has an ambitious goal to triple its current level of thermal coal output by 2030.”
Industrea has declared a final fully franked dividend of 1c per share, with the total full-year dividend now at 1.25c.
Payment is scheduled for October 23.
Industrea had a $22 million cash position at the end of June.
Despite the growth in revenue, Industrea’s adjusted basic earnings per share for the financial year dropped 5% to 5.38c.
Shares in Industrea are down half a cent to 46c this morning.
