Q3 2025 Trading Update
Mincon Group's Q3 2025 trading update revealed that year-to-date revenue is ahead of last year across all regions. However, currency fluctuations, particularly a weaker US dollar, negatively impacted reported revenue by 2% year-to-date. Revenue in the mining sector remained stable, with North American growth offsetting African challenges. The geothermal/waterwell market rebounded in Q3, driven by increased activity in Northern Europe. The company's root and branch review of operations has improved gross margin, with this work continuing into Q4 and 2026. The Board has approved an interim dividend of €0.0105 per ordinary share, payable on December 5, 2025, to shareholders on the register as of November 14, 2025.
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Dublin, London 23 October 2025: Mincon Group plc (Euronext:MIO; AIM:MCON), the Irish engineering group specialising in the design, manufacture, sale and servicing of rock drilling tools and associated consumable products, today provides a trading update for the period from 1st January 2025 to date, incorporating the third quarter to 30th September 2025.
Markets in Q3 2025
The Group traded as expected in the third quarter of the year with year-to-date revenue ahead of last year across all of our regions, reflecting our resilience and adaptability in a volatile market. Currency fluctuations, particularly a weaker US dollar, resulted in a 2% negative impact on reported revenue year to date, compared to last year.
Our revenue in the mining sector has remained stable in the past quarter with growth in the North American market, offset by some challenges that persist in Africa with shifts in mining methods among key clients.
The geothermal/waterwell market rebounded in Q3 after a slow start in H1 2025. The increase over Q2 is driven by increased geothermal market activity in Northern Europe, supported by lower interest rates leading to improved residential construction, though the recovery in this industry is tentative.
The Group has progressed with its root and branch review of operations; the process is being carefully managed to realise better results from our business units. This, as expected has reflected in an improved gross margin for the Group during the past quarter. The work in this area will continue in Q4 and on into 2026.
Outlook
We expect further growth in construction revenue in Q4 2025. The Group remains focused on cost reduction, operational restructuring and delivery of new technology to restore our strong competitive proposition in the mining sector while capitalising on our key products in the large constructions space. Our key development project targeting the renewable segment remains on track.
Dividend
The Board of Mincon Group plc has approved the payment of an interim dividend in the amount of €0.0105 (1.05 cent) per ordinary share, which will be paid on the 5th of December 2025 to shareholders on the register at the close of business on 14th November 2025.
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