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MarketScreener Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Downer EDI Limited    DOW   AU000000DOW2

DOWNER EDI LIMITED

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End-of-day quote. End-of-day quote AUSTRALIAN SECURITIES EXCHANGE LIMITED - 12/06
8.22 AUD   +1.73%
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Downer EDI : LINK ALLIANCE AWARDED AUCKLAND CITY RAIL LINK CONTRACT

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04/17/2019 | 08:33pm EST

Downer EDI Limited

ABN 97 003 872 848

Triniti Business Campus

39 Delhi Road

North Ryde NSW 2113

1800 DOWNER

www.downergroup.com

Media/ASX and NZX Release

18 April 2019

LINK ALLIANCE AWARDED AUCKLAND CITY RAIL LINK CONTRACT

Downer EDI Limited (Downer) announced today that the Link Alliance had been selected by City Rail Link Limited as the preferred bidder for the C3 alliance contract, the largest package of work for the NZ$4.4 billion Auckland City Rail Link project. The Link Alliance is a joint venture between Downer, Vinci Grands Projects, Soletanche Bachy, AECOM, Tonkin + Taylor, and WSP Opus.

Separate to C3, Downer is also preferred supplier to maintain three stations, that are part of the Auckland City Rail Link project, for up to 30 years. Downer's total share of all work is expected to exceed NZ$1 billion of revenue from the construction and maintenance contracts currently underway or planned for the future.

The Chief Executive Officer of Downer, Grant Fenn, said the Link Alliance would deliver C3 for this landmark project under an alliance contract model which shares the construction risk across all the parties.

"We look forward to working closely with our joint venture partners and City Rail Link Limited to deliver important infrastructure that will improve connections across Auckland for many years to come," Mr Fenn said.

The CEO of Downer New Zealand, Steve Killeen, said this was an exciting project for Auckland.

"I am very proud of our efforts on City Rail Link over the past four years and this new contract will build on our current projects to support the long term development of such a great city," Mr Killeen said.

The C3 contract will expand on Downer's contribution to the City Rail Link project. In April 2015, two Joint Venture Design and Construction contracts were awarded to provide early input into the design for the Downtown area. These contracts were awarded to Downer and Soletanche Bachy JV and Connectus (McConnell Dowell and Downer JV).

The C3 contract comprises the construction of two new railway stations near Aotea Square and Karangahape road in Auckland central, the redevelopment of the railway station at Mount Eden and the tunnels connecting them. The two new railway stations near Aotea Square and

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Karangahape road are both underground stations designed to carry larger nine-car trains to better meet the needs of a growing city.

For further information please contact:

Michael Sharp, Group Head of Corporate Affairs and Investor Relations

+61 439 470 145

About Downer

Downer is the leading provider of integrated services in Australia and New Zealand and customers are at the heart of everything it does. It exists to create and sustain the modern environment and its promise is to work closely with its customers to help them succeed, using world-leading insights and solutions to design, build and sustain assets, infrastructure and facilities. Downer employs more than 53,000 people across more than 300 sites, primarily in Australia and New Zealand, but also in the Asia-Pacific region, South America and Southern Africa. It also owns 88 per cent of Spotless Group Holdings Limited. For more information visit downergroup.com

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Disclaimer

Downer EDI Ltd. published this content on 18 April 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 18 April 2019 00:32:07 UTC

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Financials (AUD)
Sales 2020 13 793 M
EBIT 2020 535 M
Net income 2020 304 M
Debt 2020 983 M
Yield 2020 3,77%
P/E ratio 2020 16,3x
P/E ratio 2021 15,2x
EV / Sales2020 0,42x
EV / Sales2021 0,41x
Capitalization 4 864 M
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Technical analysis trends DOWNER EDI LIMITED
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Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 8,03  AUD
Last Close Price 8,22  AUD
Spread / Highest target 7,06%
Spread / Average Target -2,33%
Spread / Lowest Target -20,9%
EPS Revisions
Managers
NameTitle
Grant Anthony Fenn Chief Executive Officer & Managing Director
Richard Michael Harding Chairman
Sergio Cinerari Chief Operating Officer
Michael James Ferguson Chief Financial Officer
Charles Grant Thorne Independent Non-Executive Director
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