Reducing Costs

MMA has been actively developing, refining, and implementing a strategy to respond to the challenging market conditions. The Board and management have worked together to streamline the business by reducing costs, repaying debt, and focussing on the market segments where MMA can generate the most value over time.

MMA is focused on sustainably reducing costs in all areas of the business whilst maintaining the high safety and operating standards which are critical to success in the offshore industry.

Significant costs have been taken out of the MMA Offshore business over the past three years:

  • Corporate and operating overhead is expected to reduce by 40% between FY2015 and FY2018
  • Non-marine headcount has reduced by over 50%
  • There have been material reductions in overall salary packages