Midway Ltd (ASX:MWY)
A$ 1.24 0 (0%) Market Cap: 108.30 Mil Enterprise Value: 115.54 Mil PE Ratio: 124.50 PB Ratio: 0.75 GF Score: 66/100
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Half Year 2023 Midway Ltd Earnings Call Transcript

Feb 23, 2023 / 03:00AM GMT
Release Date Price: A$0.97 (-7.18%)
Anthony Mckenna
Midway Limited - MD, CEO & Director

Good afternoon, and thank you for joining the Midway First Half 2023 Results Webcast. I'm Tony McKenna, CEO and Managing Director of Midway. And I'm here with Michael McKenzie, the Group CFO. I'll give you a brief rundown of the key points from the investor pack that was launched with the ASX earlier today. And then Michael and I will be very happy to answer any questions via the chat box.

So if we switch over to the presentation now. The results shown in the early stages of Midway turnaround. The good top line numbers with revenue up 18% are based on positive contributions from all business units with the exception of Tasmania. It's also very pleasing to achieve a breakeven EBITDAR result in an environment of rising supply costs and lower boat and dry component. The successful sale of the Victorian plantation estate to MEAG was a highlight of the first half. The $12.3 million book profit on the sale of plantation estate drove the positive NPAT outcome. It has also enabled Midway to repay $21.7 million, eliminating all long-term debt.

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