DURATEC LIMITED — Capital/Financing Update 2023

Nov 23, 2023

24 November 2023

DURATEC PROVIDES FY24 GUIDANCE

Australian engineering, construction, and remediation contractor Duratec Limited ( Duratec ) (ASX: DUR) is pleased to issue guidance regarding the financial results of the Company for the full year ended 30 June 2024. The guidance is based upon the earnings from year-to-date work delivered plus the Company’s forward forecast assumptions of the earnings from current works and new works yet to be won and expect to be delivered by the end of the financial year.

Duratec’s revenue is expected to be in the range of $570m to $610m, delivering a forecast EBITDA of $45m to $52m. The Company reported revenue of $491.8m and EBITDA of $38.8m in FY23.

Duratec’s current orderbook is currently $411.2m (excluding MSA’s / annuity style revenue), with tenders of $1.02bn and a pipeline, comprising tendered and identified opportunities, of $3.28bn.

Commenting on the guidance, Duratec’s Executive Director and General Manager, Chris Oates, said:

“Duratec continues works through its solid work-on-hand, in line with Duratec’s expectations. We are also well positioned to capitalise on our increased effort in work tendered and not yet awarded, which has risen to a record high $1.02bn and we have strong expectations for some significant project awards in coming months, as we consolidate on our performance to date this financial year”.

Authorised for release to the ASX by the Board of Duratec Limited.

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Investor/Media Relations	Company Secretary
NWR Communications	Duratec Limited
Ben Larsen	Dennis Wilkins
benl@nwrcommunications.com.au	+61 417 945 049
+61 439 789 842

About Duratec Limited

Duratec Limited (ASX: DUR) is a leading Australian contractor providing assessment, protection, remediation, and refurbishment services to a broad range of assets and infrastructure. The Company’s multi-disciplined capabilities combine engineering experience with project delivery expertise and use a range of in-house assessment technologies, including 3D capture and modelling technology with predictive analysis tools. Headquartered in Wangara, Western Australia, Duratec has 20 branches around the country in capital cities and regional centres, delivering services across multiple sectors including Defence, Commercial Buildings & Facades, Infrastructure (Water, Transport & Marine), Mining & Industrial, Power and Energy.

Please visit www.duratec.com.au for further information.

This release contains certain forward-looking statements and forecasts, including in relation to possible or assumed future performance, costs, dividends, rates, prices, revenue, potential growth of Duratec Limited, industry growth or other trend projections. Such statements are not a guarantee of future performance and involve unknown risks and uncertainties, as well as other factors which are beyond the control of Duratec Limited. Actual results and developments may differ materially from those expressed or implied by these forward-looking statements, depending on a variety of factors.

Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information, the Company does not undertake any obligation to publicly update or revise any of the forwardlooking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.

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