Master Drilling to report higher EPS on partial impairment reversal
Mining services company Master Drilling expects to report an increase of between 63.1% and 73% in earnings per share (EPS) to between R3.44 and R3.65 for the financial year ended December 31, 2025.
That compares with EPS of R2.11 reported for the 2024 financial year.
In dollar terms, EPS are expected to increase by between 66.9% and 77.4% to between $0.19 and $0.20, compared with the EPS of $0.12 reported for the prior financial year.
Master Drilling points out that the increase in EPS was mainly as a result of the partial reversal of an impairment incurred on its mobile tunnel boring machine during 2024.
The company explains that it incurred an impairment of $7.8-million during 2024 as no formal agreement was in place to project future cash flows from the application of the tunnel boring machine, owing to uncertainty over commodity prices within the machine's target industry.
However, during the first half of 2025, the group finalised a contract to start operating the mobile tunnel boring machine. This resulted in a reversal of $4.7-million of the impairment. The potential reversal of the remainder of the impairment will be assessed on a continuous basis, Master Drilling says.
Meanwhile, the company's headline earnings per share (HEPS) are expected to be between R3.02 and R3.34 for the 2025 financial year, compared with the HEPS of R3.25 reported for the prior financial year.
In dollar terms, HEPS are expected to be between $0.17 and $0.19, compared with the HEPS of $0.18 reported for the 2024 financial year.
Master Drilling expects to publish its results for the financial year on March 31.
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