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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  SeaLink Travel Group Limited    SLK   AU000000SLK1

SEALINK TRAVEL GROUP LIMITED

(SLK)
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SeaLink Travel : Onboard As Brisbane's New Ferry Operator

06/28/2020 | 03:44am EST

SeaLink Travel Group Limited (ASX:SLK) ('SeaLink') advises that RiverCity Ferries, one of its subsidiary companies, has been awarded the contract as the new operator of Brisbane City Council's iconic CityCat, CityHopper and Cross River Ferry networks following a competitive tender, securing SeaLink's first marine public transport contract since acquiring Australia's largest privately owned metropolitan bus company, Transit Systems in January 2020.

The contract is for the operation of the Brisbane River ferry services and the maintenance of the vessels and associated infrastructure. SeaLink's services are planned to commence on 4 November 2020 for a term of up to 15 years and will secure up to 250 local jobs, as well as the operation of 31 vessels and add millions of passengers to the 360 million passengers that the group already moves globally each year. The total contract revenue over the initial ten year term is estimated at approximately $390 million.

According to SeaLink Group CEO, Clint Feuerherdt, securing this contract demonstrates the performance capabilities, expertise and strength of the combined group of SeaLink companies.

'We had a vision to combine SeaLink's marine experience and capabilities with Transit Systems' public transport experience, to become a truly multi-modal transport provider.'

'We look forward to working with the Brisbane City Council to deliver innovative and efficient transport services and bringing our people together to deliver a world-class ferry experience in Brisbane,' he said.

SeaLink already has marine services in Queensland, operating ferries in South East Queensland to North Stradbroke Island and the Southern Moreton Bay Islands, in Hervey Bay to Fraser Island, in Gladstone to Curtis Island, and in Townsville to both Magnetic Island and Palm Island. With the addition of the Brisbane ferry fleet, SeaLink will operate more than 100 vessels around Australia.

'Our local knowledge adds to our operational capabilities, and we look forward to assisting Brisbane City Council and the community in supporting the Brisbane Vision 2031 and the River's Edge Strategy,' he said.

Mr Feuerherdt said the contract highlights the significant diversification and growth of the Company since it acquired the Transit Systems group earlier this year.

The Brisbane City Council contract joins a suite of successful public transport contracts already added to the SeaLink portfolio this year, with renewed, extended and new contracts in South Australia and Western Australia.

Authorised for release by Clint Feuerherdt, Group Chief Executive Officer

Further information

For further information, please contact:

Clint Feuerherdt
Group Chief Executive Officer
+61 8 8202 8659

Andrew Muir
Chief Financial Officer
+61 8 8202 8693

About SeaLink Travel Group Limited (ASX:SLK)

SeaLink 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 360 million customers per year, has over 8,700 employees and operates approximately 3,400 buses and 80 ferries.

Disclaimer

Sealink Travel Group Ltd. published this content on 28 June 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 June 2020 07:43:04 UTC


© Publicnow 2020
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Financials
Sales 2021 1 130 M 873 M 873 M
Net income 2021 37,5 M 29,0 M 29,0 M
Net Debt 2021 303 M 234 M 234 M
P/E ratio 2021 33,4x
Yield 2021 2,09%
Capitalization 1 463 M 1 133 M 1 131 M
EV / Sales 2021 1,56x
EV / Sales 2022 1,38x
Nbr of Employees 672
Free-Float 54,3%
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Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 6,93 AUD
Last Close Price 6,70 AUD
Spread / Highest target 19,4%
Spread / Average Target 3,38%
Spread / Lowest Target -7,76%
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Managers and Directors
NameTitle
Clint Feuerherdt Group Chief Executive Officer
Jeffrey R. Ellison Chairman
C. Beaumont Chief Operating Officer-International
Andrew David Muir Chief Financial Officer & Co-Secretary
Terry J. Dodd Non-Executive Director
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