REG - Weir Group PLC - Weir completes acquisition of Micromine

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RNS Number : 7108G  Weir Group PLC  30 April 2025

30 April 2025

Press Release

Weir completes acquisition of Micromine

Weir has completed the acquisition of Mining Software Holdings Pty Ltd
("Micromine"), effective today. This follows the announcement on 28 February
2025 of an agreement to acquire Micromine, a global leader in mining software
solutions, for a sterling equivalent enterprise value of £624m(1) (A$1,310m).

Jon Stanton, Chief Executive Officer said:

"We are delighted that Micromine has formally become part of Weir. Micromine
is a high performing, high growth business of scale, and is a natural and
complementary fit for Weir.

Weir's mission is to deliver mining technology for a sustainable future,
helping the mining industry produce the metals needed to power the global
energy transition. Digital has a big part to play, and Weir is innovating and
investing in digital solutions to make mining smarter, more efficient and
sustainable.

Bringing together Micromine with our existing digital technologies, our vision
is to create a digital platform that helps our customers optimise their
performance at each step along the mining value chain. This is about bringing
together Weir's knowledge, capabilities and expertise to create sector-leading
digital solutions for the mining industry."

 

Integration and leadership

The business will be led by Kristen Walsh, previously Regional Managing
Director of Minerals APAC, who is appointed Division President, Digital
Solutions and joins the Group Executive reporting to Jon Stanton. Andrew
Birch, the current CEO of Micromine, will remain with Weir for up to 12 months
supporting Kristen in an advisory capacity.

In due course, we intend to bring together Micromine solutions with MOTION
METRICS(TM) and NEXT intelligent solutions, to create a sector-leading
combined digital solutions offering for the mining industry. In the meantime
Micromine will be reported externally within the ESCO Division.

 

A high quality, high growth and highly profitable business

Micromine is a leading software provider to the mining industry with
comprehensive solutions across the upstream mining value chain from
exploration through mine design and planning, operational scheduling and
mining operations in hard ore, soft ore and underground applications.

In terms of the impact to our 2025 financial guidance, we expect Micromine's
revenue contribution to be in-line with the pro-forma information presented
previously on 28 February, subject to changes in the Australian Dollar
exchange rate since release. We expect Micromine's operating profit
contribution to add around 25bps to group operating margins in 2025, with
c.£16m of one-off integration and acquisition related costs to be recognised
across 2025 and 2026 as exceptional items. As a result of funding the
transaction, we expect an increase in interest costs in the year of
approximately £25m.

Notes:

1.             Purchase settled in AUD. Spot of 2.0995 based on
indicative Management rates.

 

 

Disclaimer

This information includes 'forward-looking statements'. All statements other
than statements of historical fact included in this release, including,
without limitation, those regarding The Weir Group PLC's (the "Group")
financial position, business strategy, plans (including development plans and
objectives relating to the Group's products and services) and objectives of
management for future operations, are forward-looking statements. These
statements contain the words "anticipate", "believe", "intend", "estimate",
"expect" and words of similar meaning. Such forward-looking statements involve
known and unknown risks, uncertainties and other important factors that could
cause the actual results, performance or achievements of the Group to be
materially different from future results, performance or achievements
expressed or implied by such forward-looking statements. Such forward-looking
statements are based on numerous assumptions regarding the Group's present and
future business strategies and the environment in which the Group will operate
in the future. These forward-looking statements speak only as at the date of
this document. The Group expressly disclaims any obligation or undertaking to
disseminate any updates or revisions to any forward-looking statements
contained herein to reflect any change in the Group's expectations with regard
thereto or any change in events, conditions or circumstances on which any such
statement is based. Past business and financial performance cannot be relied
on as an indication of future performance.

 

About The Weir Group PLC

Founded in 1871, The Weir Group PLC is one of the world's leading engineering
businesses with a purpose to make its mining and infrastructure customers'
operations more sustainable and efficient. Weir's highly engineered technology
and digital solutions enable critical resources to be produced using less
energy, water and waste while reducing customers' total cost of ownership. The
Group is ideally positioned to benefit from structural trends that support
long-term demand for its technology including the need for more essential
metals to support economic development and carbon transition. The Group has
c.12,000 employees operating in over 50 countries with a presence in every
major mining region of the world. Find out more at www.global.weir
(http://www.global.weir/) .

Weir's ordinary shares trade on the London Stock Exchange (ticker: WEIR LN)
and its American Depositary Receipts trade over-the-counter in the USA
(ticker: WEGRY).

 

 Enquiries:
 Investors: Philip Carlisle  +44 (0)141 308 3617
 Media: Sally Jones          +44 (0)141 308 3666
 CDR: Kevin Smith            +44 (0)7710 815924

                              weir@cdrconsultancy.com

 

 

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