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Wednesday 26 June 2024

SRG Global (ASX: SRG): Wins $150m in contracts across Australia

SRG Global Ltd (ASX: SRG) is pleased to announce it has been awarded multiple contracts with new and existing clients in the transport, resources and energy sectors across Australia.The value of the new works secured is $150m, which includes:

• Asset integrity and reliability services term contracts with NRG at Gladstone in Queensland (QLD), Dampier Salt at their operations in the Pilbara region of Western Australia (WA), Delta Electricity at Vales Point in New South Wales (NSW), Stanwell assets in QLD and BP at the Kwinana Energy Hub in WA. These term contracts have now commenced and have contract durations ranging between 3 to 5 years

• Specialist inspection works at the West Gate Bridge in Victoria for the Department of Transport Victoria. Works have commenced with the first phase expected to be completed within 3 months;

• A 3-year term contract with Evolution Mining to provide specialist production drill and blast services and geotechnical maintenance

Highlights:

• SRG Global has secured $150m of contracts across Australia

• Term contracts secured in the energy and resources sectors

• Specialist bridge inspection contract with existing client in the transport sector

• Infrastructure contracts secured with new and existing clients

Commentary:

David Macgeorge, SRG Global Managing Director commented: “We continue to secure a number of contract wins across Australia in a broad range of sectors with new and existing clients. These contract awards are a further demonstration of our market-leading capabilities as a truly diversified industrial services company.

I am particularly pleased with the progress of our Asset Care business, comprising of specialist asset monitoring, testing, and inspection services which has further enhanced our capability, technology, and cross selling opportunities.

Our overall Company continues to go from strength to strength and is underpinned by a strong growth profile and a recurring earnings base that is moving towards 80% which is in line with SRG Global’s long-term strategy.”

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