- Calibre's diversification strategy is now taking shape and is well positioned to benefit from the east coast infrastructure activity and the rebounding commodity markets.
- Structural changes in Support Services and Professional Services Operational Divisions to ensure business productivity is optimised and cross selling 'part of the culture'.
- Business strategy aligned to major key clients, across multiple divisions increasing share of wallet.
- Continued growth opportunities in the east coast utilities market provides opportunities for Diona. The Diona acquisition is exceeding expectations.
- Preferred contractor status for the EPC contract for Mach Energy Mt Pleasant Coal Mine CHPP, in joint venture with DRA.
- Debts renewal process kicked off with a focus on extending tenure.
Revenue for the period was $215.7m, down 27 per cent on the prior corresponding period (pcp); the result of trail off of subdued market conditions in our commodity based sectors and completion of major projects. This result was partially offset by strong growth in Calibre’s utilities construction business, Diona. Pleasingly, EBITDA for the period was $11.2m, up 15.3 per cent on the pcp.
Recent increases in commodities prices are likely to result in Calibre’s key markets and client base reinvesting which should create opportunities for several of the Group’s businesses.
Calibre’s Managing Director and CEO, Peter Massey said “Our most recently acquired business Diona, has had a very successful half year experiencing strong growth and is working closely with our Consulting business for a number of key clients in the western growth corridor of Sydney. Whilst the major projects divisions in Western Australia and Queensland are yet to recoup revenues experienced during the peak of the mining boom, a number of large projects remain in the pipeline which if secured, will positively impact the company’s revenue,” he said.
The business has also recently embarked on a national rollout of a Client Partnership Program, which will see Calibre renew its focus on client partnerships and new business development initiatives. “I’m looking forward to developing the sales-focus culture of the business to support sustainable revenue growth,” said Peter Massey.
Calibre’s subsidiary G&S Engineering was awarded preferred contractor for the EPC contract for Mach Energy’s Mt Pleasant Coal Mine Coal Handling Preparation Plant in Joint Venture with DRA. The project involves teams from Calibre’s Professional Services and Construction & Maintenance business units. G&S Engineering’s continued growth into the underground market has been strengthened by the securing of a rebuild pipeline with Carborough Downs mine underground equipment. These contract wins along with other secured work across the group position calibre well for growth over the coming year.
For detailed information of our results, please visit the Investors’ section of the Calibre Group website to access our audited half year financial report and presentation.