TASMEA LIMITED — Earnings Release 2024

Aug 25, 2024

Tasmea Limited Appendix 4E Preliminary final report

==> picture [42 x 35] intentionally omitted <==

1. Company details

Name of entity: Tasmea Limited ABN: 22 088 588 425 Reporting period: For the year ended 30 June 2024 Previous period: For the year ended 30 June 2023

2. Results for announcement to the market

The current reporting period is the financial year ended 30 June 2024. The previous corresponding period is the financial year ended 30 June 2023.

	2024	2023	Change	Change
	$'000	$'000	$'000	%
Revenue from ordinary activities	400,005	319,982	80,023	25.0%
Profit from ordinary activities after tax attributable to the
owners of Tasmea Limited	30,350	19,317	11,033	57.1%
Profit for the year attributable to the owners of Tasmea
Limited	30,350	19,317	11,033	57.1%

Commentary on the results for the year can be found in the Managing Director's Report in the 2024 Annual Report.

Dividends

Dividends
		Franked
	Amount per	amount per
	security	security
	Cents	Cents
FY24 Interim Dividend (paid 7 June 2024)	2.5	2.5
FY24 Final Dividend (declared 26 August 2024)	4.0	4.0
Record date for determining entitlements to the final dividend	30 September 2024
Date the final dividend is payable	17	October 2024

Dividend reinvestment plan

The Company's Dividend Reinvestment Plan will apply to the FY24 Final Dividend. All Australian and New Zealand resident Tasmea shareholders are eligible to participate in the Dividend Reinvestment Plan for shares held on the relevant dividend record date.

The last date for lodgement of election notices to participate in the Dividend Reinvestment Plan for the FY24 Final Dividend is 5pm AEST on 1 October 2024.

3. Net tangible assets

Net tangible assets per ordinary security	Reporting period Cents 19.27	Previous period Cents 5.68

Tasmea Limited Appendix 4E Preliminary final report

==> picture [42 x 35] intentionally omitted <==

4. Control gained over entities

Groundbreaking Mining Solutions

On 1 July 2023, Tasmea Limited acquired Groundbreaking Mining Solutions Pty Ltd ("GMS") for an enterprise value of up to $28.0 million. GMS offers drill and blast rig solutions to clients in Australia and overseas, comprising a range of inhouse engineering, maintenance and asset management services as well as equipment hire. The acquisition of GMS also included a 66.7% ownership interest in Rise Engineering, a machine shop which primarily produces parts for GMS. The acquisition of GMS provides a strategic opportunity for the consolidated entity to diversify its client base and geographical scope of operations.

Forefront Services

On 1 October 2023, Tasmea Limited acquired MGW Engineering Pty Ltd trading as ForeFront Services ("ForeFront Services") for an enterprise value of up to $17.17 million. ForeFront Services is a multi-disciplined engineering, construction, maintenance and mining services provider based in Orange, New South Wales. ForeFront Services provides surface and underground maintenance and shutdown services to various mine facilities and fixed mining plant and equipment. The acquisition of ForeFront Services provides a strategic opportunity for the Group to diversify its client base and geographical scope of operations.

Dingo Concrete Services

On 1 June 2024, Tasmea Limited's wholly owned subsidiary Dingo Concrete Services Pty Ltd acquired the business assets of Dingo De Construction ("Dingo") for an enterprise value of $6.5 million. Dingo provides concrete batching and mixing solutions, material cartage, civil contracting and machine hire services from its Tom Price location. The acquisition of Dingo complements the Group's existing service offerings in the Pilbara and allows for vertical integration of services.

Further details regarding the acquisitions can be found in Note 35 of the 2024 Financial Report.

5. Audit qualification or review

The results are based on accounts which have been audited and the audit report contains no qualifications.

6. Annual General Meeting

The Company's Annual General Meeting will be held on Tuesday 19 November 2024. Further details regarding the meeting will be made available in due course.

7. Signed

Signed _________ Stephen Young Managing Director

Date: 26 August 2024