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Thu 28 Aug 2025
Close: 481c 
Day's move: 3c (0.63%)
Volume: 24 086
Trades: 28
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Aveng - updated trading statement
The Group announced that it will report an operating loss before capital items in the second half of the year in line with that reported in the first half. The operating loss before capital items for the year was negatively impacted by the J108 project in Southeast Asia and the Kidston Pumped Hydro project in Queensland. In addition, a warranty provision has been raised in Southeast Asia due to recently identified defects on a project currently in its defect liability period. The remainder of the project portfolio continues to operate in line with improving expectations.
The Group expects to release its audited results on or about 19 August 2025.
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Aveng - trading statement and operational update
Trading statement
Shareholders were hereby advised that a reasonable degree of certainty exists that the results for the year ending 30 June 2025 will be lower than the comparable period and that the Group will report a loss for the full year (on both a per share and a headline per share basis, in comparison to the earnings per share of AUD20.0 cents and headline earnings per share of AUD29.6 cents in the prior period).
The trading statement will be updated to provide more accurate ranges once the year end financial statement close processes are sufficiently advanced to provide reasonable certainty as to the outcome.
Operational update
Infrastructure
The New Zealand & Pacific Islands business unit continues its strong performance during the second half of the year. The business unit expects to report continued strong profitability although margins will soften compared to those reported in the first half. Operating profit is expected to reflect an improvement on the comparative period, being the prior year.
The Australia business unit reported a break-even result in the first half, driven by increased forecast cost to complete and a resulting loss on the Kidston Pumped Hydro project in Queensland. During the second half, progress on the project has continued to face pressure and was hampered by the impacts of a persistent tropical low-pressure system in the area, leading to severe flooding across the region.
In Southeast Asia, the Jurong Region Line (J108) project for the Land Transport Authority in Singapore continues to achieve project milestones in line with the revised project plan and at expected cost.
Building
Built Environs is expected to continue its profitable performance and is expected to report growth in its operating earnings as compared to the comparative period.
Mining
Moolmans concluded a new 60 month contract with Black Mountain Mining (Pty) Ltd. at its Gamsberg zinc mine during the period and ramp-up operations continue, including increased production supported by the delivery and commissioning of new equipment.
Market outlook
Improving trading conditions generally continue to be observed across the Infrastructure and Building segments, albeit against a backdrop of uncertainty associated with geo-political tensions and increasingly protectionist global trade policies.
Aveng is the preferred or sole-source bidder on more than AUD2 billion of new work, with approximately half of this expected to be awarded by the end of Q1 FY26. This will augment the AUD1.2 billion new work secured to date in the period.
Strategy update
Negotiations for a sale of the Moolmans business continue with interested parties who present strong BEE credentials.
The Group continues to explore a range of options for the separation of McConnell Dowell. These include a merger with a third party, a partial or outright sale or a separate independent listing.
The Group expects to release its reviewed results for the year ending 30 June 2025 on or about 19 August 2025.
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Aveng Ltd. - Dealing in securities - vesting and s
A director of a subsiduary of the company has dealt in shares.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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