Aveng Ltd (FRA:UG8)

Half Year 2025 Aveng Ltd Earnings Call Transcript

Feb 18, 2025 / 07:00 AM GMT

Release Date Price: €0.434

Transcript

Key Points

Positve

Aveng Ltd (STU:UG8K) maintained a strong cash position with $256.1 million, up from $227.7 million at the end of June.
The building segment performed exceptionally well, with 100% of projects being profitable and over 90% above tendered margin.
The mining segment secured a new 60-month contract at Hamsburg, expected to deliver greater volumes, increased revenue, and improved profitability.
The infrastructure portfolio, excluding the two loss-making projects, operated at an improved margin in excess of 4%.
The company has made steady progress in its separation strategy to create two independent entities, which remains a key focus for the year.

Negative

Aveng Ltd (STU:UG8K) reported a headline loss of $34.4 million, significantly impacted by losses on two projects, J108 and Kidston, totaling $76.7 million.
Revenue decreased to $1.4 billion, slightly below the comparable period of the previous year.
The infrastructure segment incurred an operating loss of $26.5 million, including the losses from the two major projects.
The order book has declined due to a reduction in transport capital investment and slower-than-expected shifts towards other sectors.
The company faces ongoing challenges with project delays and cost escalations, particularly in the Kidston and J108 projects, which are expected to impact cash flow over the next 18 months.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

AEGJ.J - Aveng Ltd
Half Year 2025 Aveng Ltd Earnings Call
Feb 18, 2025 / 07:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning and welcome to the Avenge 2025 interim results presentation.

I am Scott Cummins, Avenge CEO, and with me today is Adrian McCartney, avenge CFO and financial director.

For the agenda today, I will take you through the salient features.

Adrian will talk to the financial results.

I will then return for the market outlook, the strategy update, and the key messages.

Finally, Adrian and I will answer your submitted questions.

Before we begin, the picture on the right is from one of our teams in New Zealand.

The shot over wastewater treatment plant upgrade project in Queenstown.

It is representative of one of our core competencies in water and waste water across the

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