MHM Automation continues growth trajectory despite covid challenges
Increases in revenue, profitability and $40 million of forward-booked orders were among the highlights of the half year report released by MHM Automation recently. The NZX-listed automation company reported revenue growth of 19% to $29.5 million and EBITDA growth of 45% to $2.12 million for the six months to 31 December 2021. These results continue the momentum of growth the company has seen over the last two years, primarily driven by strong sales of its Milmeq chilling and freezing equipment to the Australian red meat sector. MHM Automation Chief Executive Officer, Richard Rookes said the growth was admirable, particularly given the challenges posed by Covid and border restrictions. “It is a real credit to the performance of our team. Our project managers and procurement teams have negotiated numerous logistics challenges, and our ability to continue to deliver projects to clients overseas was only possible thanks to the dedicated staff who were prepared to travel in uncertain circumstances,” he said. “We welcomed the news of the imminent re-opening of New Zealand’s borders, as this will significantly reduce our project risk and costs going forward,” he added. Key projects delivered during the year included a milestone 200th Milmeq plate freezer installation for a major Australian meat processor and a first-of-its-kind robotic de-boxing line for a leading meat processor in the US. Mr Rookes said the company’s continued success was a reflection of the world-leading status of its technologies, and its ability to innovate to resolve customers’ production challenges. “Take the universal robotic box cutter for example. It’s a robotic system that can open boxes of various shapes and sizes on the fly, without operator invention. Our client told us they could not find a system on the market that would fulfil this task, so we developed one to meet their needs,” he […]