Boart H1 sales up

Boart Longyear is climbing back towards US$1 billion annual revenue for the first time since 2013 after reporting a $262m June quarter and $494m of sales for the first half of 2022.

The major drilling services and products supplier hit $2.01 billion in 2012 at the peak of the last mining investment cycle, tumbling 39% to $1.22b the following year and all the way down to $642m in 2016.

Last year it achieved $112m EBITDA on $921m of revenue.

The company had about 4050 employees at the end of 2021, a long way from its 9162 peak in 2012.

A major recapitalisation last year saw Boart Longyear cut its net debt from $855m to $164m.


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