Latest Matrix Composites & Engineering (Asx:Mce) News

Matrix Composites & Engineering has fully redeemed its $7.5 million convertible note, replacing it with a new term loan facility from NAB that offers improved terms and a streamlined debt structure.

Matrix Composites & Engineering Ltd delivered a solid FY25 with $74.8 million revenue driven by subsea buoyancy demand, underpinning a $5.0 million underlying EBITDA. The company’s $57 million subsea order book and recent $45 million SURF awards set a promising stage for FY26 growth.

Matrix Composites & Engineering reported a 12% revenue decline in FY25 due to subdued drilling activity but achieved record SURF segment growth and secured a strong order book for FY26.

Matrix Composites & Engineering Ltd posted a 12.1% revenue decline to $74.77 million for FY25, reporting a net loss of $2.2 million as subdued drilling buoyancy markets weighed on results despite strong growth in subsea buoyancy products.

Matrix Composites & Engineering has landed a new A$10 million subsea buoyancy contract for a Gulf of Mexico project, adding to over A$45 million in awards this financial year and reinforcing its global SURF market presence.

Matrix Composites & Engineering has landed a significant A$35 million subsea buoyancy contract with a major international energy services firm, underpinning its growth trajectory into FY2026.

Matrix Composites & Engineering has declined a reverse merger proposal from Advanced Innergy Solutions, citing undervaluation and strong standalone prospects. The decision underscores Matrix's confidence in its growth strategy and capital position.

Matrix Composites & Engineering has clarified details of a conditional merger proposal with Advanced Innergy Solutions, highlighting a significant shift in shareholding and advising shareholders to await further updates.

Matrix Composites & Engineering has received a preliminary, non-binding proposal from Advanced Innergy Solutions for a reverse merger, prompting careful review by its board amid uncertainty.

Matrix Composites & Engineering has landed a new A$7 million contract to supply a deepwater drilling riser buoyancy system to Stena Drilling, reinforcing its leadership in the subsea buoyancy market amid a recovering drilling sector.