All of that should help KMSB pull in $41.5 million revenue and $35.8 million EBITDA in the 2026 financial year, its first year of operation, growing to $65.2 million revenue and $57.4 million earnings by the 2030 financial year.
Should it meet the 2030 forecasts, KMSB would be worth north of $880 million based on a 16-times enterprise valuation to EBITDA multiple.
It’s an ambitious forecast, and one that prospective investors in the equity raising would treat with a grain of salt given KMSB’s history of troubles in trying to get the construction off the ground.
For now, KMSB would have an inaugural enterprise valuation of the $289 million. The project is being pitched as the only modern port facility between Port Hedland and Darwin. In addition to entry and exit, the wharf would have customs, quarantine services, berthing, bunkers, stevedoring and crane capacity, the marketing materials said.
The management team is led by Andrew Natta, who heads a similar asset on WA’s Port of Onslow. He previously spent 11 years at Resource Engineering and Design, which serviced blue-chip Pilbara miners including Chevron, BHP, Woodside and Rio Tinto.
The board is chaired by Michael Hollett, who has previously chaired companies in water infrastructure and accommodation providers.