Announcement • Mar 30
Advanced Innergy Solutions Limited proposed to acquire Matrix Composites & Engineering Ltd (ASX:MCE) for AUD 89.5 million. Advanced Innergy Solutions Limited proposed to acquire Matrix Composites & Engineering Ltd (ASX:MCE) for AUD 89.5 million on March 30, 2026. A cash consideration of AUD 89.52 million will be paid by Advanced Innergy Solutions Limited. As part of consideration, AUD 89.52 million is paid towards common equity of Matrix Composites & Engineering Ltd.
The transaction is subject to consummation of due diligence investigation, approval by regulatory board / committee and approval of offer by acquirer board. Announcement • Feb 25
Matrix Composites & Engineering Ltd to Report First Half, 2026 Results on Feb 27, 2026 Matrix Composites & Engineering Ltd announced that they will report first half, 2026 results on Feb 27, 2026 Announcement • Sep 25
Matrix Composites & Engineering Ltd, Annual General Meeting, Nov 25, 2025 Matrix Composites & Engineering Ltd, Annual General Meeting, Nov 25, 2025. Announcement • May 20
Advanced Innergy Solutions Limited signed a letter of intent to acquire Matrix Composites & Engineering Ltd (ASX:MCE) in a reverse merger transaction Advanced Innergy Solutions Limited signed a letter of intent to acquire Matrix Composites & Engineering Ltd (ASX:MCE) in a reverse merger transaction on May 18, 2025. The consideration consists of common equity of Advanced Innergy Solutions Limited to be issued for common equity of Matrix Composites & Engineering Ltd.
The Board of Matrix has advised Matrix shareholders to take no action. Announcement • Feb 26
Matrix Composites & Engineering Ltd Announces Board and Executive Changes Matrix Composites & Engineering Ltd. announced the appointment of Mr. Stephan Kirsch as a Non-Executive Director of the Company. Mr. Kirsch is a highly experienced executive with over 25 years of experience in the mining, mineral processing, and manufacturing industries. He has held executive and senior management roles with prominent mining service companies, including Metso Outotec Group, Hofmann Engineering, and ThyssenKrupp Industrial Solutions. Mr. Kirsch currently holds an executive role with FLSmidth as President for APAC and serves as a Non-Executive Director of GMA Garnet Group. After nearly 11 years of dedicated service to Matrix, Mr. Steven Cole will be retiring from his position as Non-Executive Director on 28 February 2025. Mr. Cole has been a significant contributor to the Company's development and transformation throughout his tenure, including his role as Chair of the Audit Committee. In this capacity, he provided invaluable leadership through the challenging COVID period and oversaw the implementation of the Company's significant Corporate Governance Framework. The Board and management express their sincere gratitude for Mr. Cole's extensive contributions and unwavering commitment to Matrix. Matrix also advises that newly appointed General Counsel, Mr. John Louden, has been appointed as Joint Company Secretary of Matrix. Mr. Louden is a commercial lawyer with over 20 years of experience in both private practice and commercial organisations. Following 10 years with Jackson McDonald and Norton Rose, Mr. Louden held a similar role as General Counsel and Company Secretary with Neptune Marine Services for four years. Most recently, he was General Counsel with Quintis. Announcement • Feb 24
Matrix Composites & Engineering Ltd to Report First Half, 2025 Results on Feb 26, 2025 Matrix Composites & Engineering Ltd announced that they will report first half, 2025 results on Feb 26, 2025 Buy Or Sell Opportunity • Nov 12
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 26% to AU$0.24. The fair value is estimated to be AU$0.31, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 52% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 8.4% per annum. Earnings are also forecast to grow by 27% per annum over the same time period. Announcement • Sep 25
Matrix Composites & Engineering Ltd, Annual General Meeting, Nov 21, 2024 Matrix Composites & Engineering Ltd, Annual General Meeting, Nov 21, 2024. Buy Or Sell Opportunity • Sep 13
Now 23% overvalued The stock has been flat over the last 90 days, currently trading at AU$0.34. The fair value is estimated to be AU$0.27, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 52% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 9.2% per annum. Earnings are also forecast to grow by 21% per annum over the same time period. Reported Earnings • Aug 30
Full year 2024 earnings released: EPS: AU$0.017 (vs AU$0.052 in FY 2023) Full year 2024 results: EPS: AU$0.017 (down from AU$0.052 in FY 2023). Revenue: AU$85.0m (up 80% from FY 2023). Net income: AU$3.65m (down 58% from FY 2023). Profit margin: 4.3% (down from 18% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Global Energy Services industry. Over the last 3 years on average, earnings per share has increased by 111% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Aug 29
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 1.5% to AU$0.33. The fair value is estimated to be AU$0.27, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 48% over the last 3 years. Meanwhile, the company became loss making. Announcement • Aug 27
Matrix Composites & Engineering Ltd to Report Fiscal Year 2024 Results on Aug 29, 2024 Matrix Composites & Engineering Ltd announced that they will report fiscal year 2024 results on Aug 29, 2024 Buy Or Sell Opportunity • Apr 30
Now 21% undervalued Over the last 90 days, the stock has risen 18% to AU$0.36. The fair value is estimated to be AU$0.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 48% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Apr 24
Now 23% undervalued Over the last 90 days, the stock has risen 20% to AU$0.36. The fair value is estimated to be AU$0.47, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 48% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Mar 26
Now 24% undervalued Over the last 90 days, the stock has risen 4.6% to AU$0.34. The fair value is estimated to be AU$0.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 48% over the last 3 years. Meanwhile, the company became loss making. Announcement • Feb 21
Matrix Composites & Engineering Ltd to Report First Half, 2024 Results on Feb 23, 2024 Matrix Composites & Engineering Ltd announced that they will report first half, 2024 results on Feb 23, 2024 Board Change • Jan 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 4 highly experienced directors. Independent Non-Executive Director Chris Sutherland was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Oct 19
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 50% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 63% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (50% increase in shares outstanding). Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (AU$54.9m market cap, or US$34.8m). Announcement • Sep 27
Matrix Composites & Engineering Ltd, Annual General Meeting, Nov 23, 2023 Matrix Composites & Engineering Ltd, Annual General Meeting, Nov 23, 2023. Agenda: To consider election or re-election of Directors. Announcement • Sep 07
Matrix Composites & Engineering Ltd. Announces Executive Changes Matrix Composites & Engineering Ltd. advised that Caitlin Flaherty has been appointed as Joint Company Secretary of the Company effective 6September 2023. The Company also advises that Paul Hardie has resigned as Joint Company Secretary effective 6 September 2023. Reported Earnings • Sep 02
Full year 2023 earnings released: EPS: AU$0.052 (vs AU$0.033 loss in FY 2022) Full year 2023 results: EPS: AU$0.052 (up from AU$0.033 loss in FY 2022). Revenue: AU$47.2m (up 65% from FY 2022). Net income: AU$8.68m (up AU$13.5m from FY 2022). Profit margin: 18% (up from net loss in FY 2022). Revenue is forecast to grow 27% p.a. on average during the next 2 years, compared to a 7.7% growth forecast for the Global Energy Services industry. Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. New Risk • Aug 31
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 95% per year for the foreseeable future. Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Large one-off items impacting financial results. Shareholders have been diluted in the past year (49% increase in shares outstanding). Market cap is less than US$100m (AU$54.5m market cap, or US$35.3m). Buying Opportunity • Jun 28
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 15%. The fair value is estimated to be AU$0.33, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 12% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 210% in 2 years. Earnings is forecast to decline by 100% in the next 2 years. New Risk • Jun 20
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 95% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 95% per year for the foreseeable future. Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (49% increase in shares outstanding). Market cap is less than US$100m (AU$62.2m market cap, or US$42.6m). Recent Insider Transactions • Mar 09
Insider recently sold AU$1.4m worth of stock On the 7th of March, Michael Piperoglou sold around 4m shares on-market at roughly AU$0.35 per share. This transaction amounted to 34% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Mar 02
First half 2023 earnings released: EPS: AU$0.069 (vs AU$0.037 loss in 1H 2022) First half 2023 results: EPS: AU$0.069 (up from AU$0.037 loss in 1H 2022). Revenue: AU$11.8m (down 14% from 1H 2022). Net income: AU$10.0m (up AU$13.9m from 1H 2022). Profit margin: 85% (up from net loss in 1H 2022). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • Sep 02
Full year 2022 earnings released: AU$0.033 loss per share (vs AU$0.27 loss in FY 2021) Full year 2022 results: AU$0.033 loss per share (up from AU$0.27 loss in FY 2021). Revenue: AU$28.6m (up 63% from FY 2021). Net loss: AU$4.78m (loss narrowed 83% from FY 2021). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 01
First half 2022 earnings: EPS in line with expectations, revenues disappoint First half 2022 results: AU$0.037 loss per share (up from AU$0.068 loss in 1H 2021). Revenue: AU$13.7m (up 70% from 1H 2021). Net loss: AU$3.89m (loss narrowed 44% from 1H 2021). Revenue missed analyst estimates by 22%. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Reported Earnings • Sep 04
Full year 2021 earnings released: AU$0.27 loss per share (vs AU$0.65 loss in FY 2020) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2021 results: Revenue: AU$17.6m (down 36% from FY 2020). Net loss: AU$27.9m (loss narrowed 57% from FY 2020). Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 31% per year, which means it has not declined as severely as earnings. Recent Insider Transactions • Jul 29
Insider recently sold AU$103k worth of stock On the 26th of July, Vasilios Piperoglou sold around 707k shares on-market at roughly AU$0.14 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of AU$59k more than they bought in the last 12 months.