MHM Automation reports record results, acquires Wyma Engineering

MHM Automation has released its preliminary full year results for the year ending June 30, 2023.

The company achieved record results, with a 43% increase in revenue to $96.7 million and a 107% increase in EBITDA to $9.87 million.

The acquisition of Wyma Engineering was completed during the year, providing the company with further scale and diversification.

The company also reported a strong health and safety record, with no lost time incidents in the past 12 months.

The demand for automation and equipment modernization remains high, driven by labor scarcity, the need for improved efficiencies, and a focus on health and food safety.

The company has a strong pipeline of forward sales for the 2024 financial year, totaling $63 million.

The integration process of Wyma into the MHM group has begun.

The audited accounts and annual report will be released in September.