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SEALINK TRAVEL GROUP LIMITED

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SeaLink Travel : NEW FERRIES AND TERMINAL REDEVLOPMENT FOR SOUTHERN MORETON BAY ISLANDS

05/23/2021 | 07:47pm EDT

SeaLink Travel Group ('SeaLink'), Australia's largest marine tourism and transport operator has announced plans to redevelop the Redland Bay vehicle ferry terminal and construct two brand new vehicle ferries to service the Southern Moreton Bay Islands, confirming an initial investment of over $17M.

SeaLink Travel Group CEO Clint Feuerherdt said the region had a lot to offer residents and guests, making it an attractive part of South East Queensland.

'We have committed to building these new ferries and investing in local infrastructure to ensure the region is strongly positioned to discover its full potential.'

The Southern Moreton Bay Islands attract interest from both residential and commercial avenues and the islands have experienced strong property sales.

'With the volume of land sold, we expect to see more trades and building equipment headed to the islands in the future and we're confident we are ahead of that demand,' he said.

The current vehicle ferry service by SeaLink Travel Group has been in operation for over 30 years, and comprises three vessels operating on a scheduled service to Karragarra, Macleay, Lamb and Russell Islands.

'Our proposed infrastructure upgrades for the Redland Bay terminal will future proof the area for the expected growth in demand and our new vessels will be constructed to the Australian Maritime Safety Authority modern rules for commercial vessels' he said.

Terminal Re-Development

The plans include improvements to the ferry operations, environmental impact and safety standards, traffic management (loading lanes), customer seating, and the overall aesthetic.

The Infrastructure will be completed in stages and done in conjunction with the construction of the two brand new vehicle ferries.

New Vessels

The two new purpose-built vessels will provide increased vehicle capacity, new passenger amenities and lower fuel consumption with improved environmental standards.

With two new modern vessels and accompanied infrastructure improvements, SeaLink will have the capability to:

  • increase daily capacity
  • provide more efficient operational ability
  • grow in-line with the demand from the Island communities.

Member for Redlands Kim Richards said, 'These new vehicle ferries will be fantastic for locals and visitors to our magnificent islands with enhanced amenities and increased capacity.'

'The reinvigorated terminal will provide for a better arrival experience too!'

Redland City Council Mayor Karen Williams said, 'SeaLink is an important part of the Redlands Coast community and this investment shows their commitment to the region.

'The upgrade of the Redland Bay terminal will complement the upgrade of the Weinam Creek and four Southern Moreton Bay Island terminals being undertaken by Council and the State Government, creating first class marine transport infrastructure.

'Together these projects will ensure residents and visitors continue to have safe and reliable transport between our islands and the mainland, supporting our Redlands Coast community now and in the future.'

About SeaLink Travel Group (ASX: SLK)

SeaLink Travel Group is Australia's largest integrated land and marine, tourism and public transport service provider with established international operations in London and Singapore.

It is one of Australia's most experienced and diverse multi-modal transport businesses, boasting performance-driven capabilities across ferry, bus and light rail.

SeaLink is made up of Australian marine and tourism operations and Transit Systems' domestic and international public bus and light rail transport operations.

SeaLink moves more than 206 million customers per year, has over 8,900 employees and operates approximately 3,500 buses and 118 ferries.

Disclaimer

Sealink Travel Group Ltd. published this content on 23 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 May 2021 23:46:03 UTC.


ę Publicnow 2021
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Financials
Sales 2021 1 168 M 864 M 864 M
Net income 2021 54,5 M 40,4 M 40,4 M
Net Debt 2021 250 M 185 M 185 M
P/E ratio 2021 35,2x
Yield 2021 1,65%
Capitalization 2 110 M 1 549 M 1 562 M
EV / Sales 2021 2,02x
EV / Sales 2022 1,75x
Nbr of Employees 672
Free-Float 54,4%
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Number of Analysts 7
Last Close Price 9,66 AUD
Average target price 10,18 AUD
Spread / Average Target 5,38%
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Managers and Directors
Clint Feuerherdt Group Chief Executive Officer
Andrew David Muir Chief Financial Officer & Co-Secretary
Jeffrey R. Ellison Chairman
C. Beaumont Chief Operating Officer-International
Lance E. Hockridge Independent Non-Executive Director
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