SRG Global has announced more than $700 million in contract wins in the water, dairy, health and resource sectors across Australia and New Zealand.
SRG Global has announced more than $700 million in contract wins in the water, dairy, health and resource sectors across Australia and New Zealand.
The Subiaco-based firm told the market today it had been awarded multiple contracts with existing clients, worth more than $700 million.
Among the contracts was a five-year deal for maintenance services of the bauxite residual disposal area of South32’s Worsley project, among other civil services at the site.
A five-year deal was struck with Glencore for asset integrity services at its Murrin Murrin mine in the Goldfields, as well as a one-year deal for earthworks and civil construction at Roy Hill’s HanRoy mine.
The company have also won a one-year contract for the construction of a tailings dam at Pilbara Minerals’ Pilgangoora site.
SRG Global managing director David Macgeorge said the contracts were a demonstration of the company's transformation to a diversified infrastructure services company.
"I am particularly pleased with the progress of our diona business which has integrated exceptionally well into the overall SRG Global group," he said.
"Diona is a market leader in the water security and energy transition sectors and this highly strategic acquisition has enhanced our capabilities and strengthened our position in these key growth markets.
"It is exciting to see Diona secure multiple new contracts with existing clients through collaborative agreements."
Mr Macgeorge said the company was in a period of significant momentum and was going from strength to strength.
"This is underpinned by a strong growth profile and an 80 per cent recurring earnings base which is in line with SRG Global's long-term strategy," he said.
"Our success in seucring contracts in markets including water, transport, dairy, resources and health continues to position the company strongly for sustainable growth in the diverse sectors and geographies in which we operate."
SRG posted net profit after tax of $40.3 million for financial year 2024, up from $31.8 million in the prior year.
It recorded revenue of $1.07 billion, from $809 million, and earnings before interest, tax, depreciation, and amortisation of $98.5 million, up from $80.1 million in FY23.
SRG upped its EBITDA guidance to $125 million for FY25, from an upped range of $95 million to $100 million for FY24, incorporating 10 months’ worth of earnings from its recent acquisition of Diona.
Also included in the $700 million of works were a number of contracts in the eastern states and New Zealand, including a four-year contract with a further four-year extension option with South Australia Water to provide pipeline delivery services.
SRG Global shares were up 8 per cent following the announcement, trading at $1.30 each.
