Jump to content

Minelab 2018 Results


Recommended Posts

Minelab is a division of a larger publicly traded company, Codan. That means we can peek at annual reports to learn a bit about the metal detecting world as far as size and sales. The competition is all privately held so numbers are hard to come by. From Codan 2018 Annual Report (October 2018):

"In FY18, Minelab had another exceptionally strong year, with revenue of $164.0 million which delivered a segment contribution of $64.1 million. While sales of our GPZ 7000® top-of-the-range gold detector remain strong, they are being complemented by significantly higher sales of the new Gold Monster® and SDC 2300® detectors in Africa.

Minelab’s base business is comprised of recreational products sold into Australia, Europe and the USA, a level of gold detector sales into Africa, Asia Pacific and Latin America and sales of countermine products (detecting and clearing improvised explosive devices) globally. In the past, Minelab has had base-business sales in the range of $85 million to $95 million per annum. The combination of the EQUINOX® coin and treasure product release, an expanded gold detector range and Minelab’s entry into new geographic markets has increased the base business to around $110 million per annum.

As was the case again in FY18, periods of stronger demand for gold detectors in Africa and new product introductions can push these revenues significantly higher. African demand continues to be driven by the superior performance of our products rather than gold surges. Existing customers are upgrading their GPX® gold detecting equipment and new customers are buying the entry-level Gold Monster®. It has also been pleasing to see a resurgence in demand for the SDC 2300®, a detector that is exceptionally good at discovering fine-particle gold. This changing sales mix has further diversified the business but has resulted in lower average margins for our gold detector products in Africa."

FY18 SUMMARY

  • Another exceptionally strong year, highest sales ever
  • Successful release of the revolutionary EQUINOX® coin and treasure detector
  • Diversified gold detector sales in Africa, less reliance on GPZ 7000®
  • Delivered a significant order for the countermine F3 Compact™ detector
  • Continued investment in new product development

FY19 OBJECTIVES

  • Maximise and diversify gold detector sales globally
  • Expand distribution in Latin America through our new Minelab presence in Brazil
  • Continue to expand our retail distribution channels in USA and Europe
  • Complete the Countermine dual-sensor development programme

"While we are confident of continued success in FY19, the unpredictable nature of our sales into Africa makes forecasting difficult for this business. In the past, Minelab has had base-business sales in the range of $85 million to $95 million per year. The EQUINOX® product release, coupled with an expanded gold detector range and Minelab’s entry into new markets, have increased this base-business by more than 20%, to around $110 million in sales per annum."

and the part we all want to read:

"Minelab continues to invest in product development for recreational markets and has a number of new, improved metal detectors in the pipeline."

click for larger version...
minelab-2018-annual-report.jpg

  • Like 9
Link to comment
Share on other sites


Hopefully some of those “new, improved metal detectors” make it to market this year.

It’s good to see Minelab is doing so well.

Bryan

  • Like 1
Link to comment
Share on other sites

Higher end treasure detector, be it a Equinox 1000 or faster CTX in an Equinox body is high on my wish list as well as an ultra light PI Detector.. Waterproof, Wireless and light.

Bryan

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...