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EVZ LIMITED — Capital/Financing Update 2014
Jul 21, 2014
64889_rns_2014-07-21_23f03128-074e-45af-b90c-208c7d9ec629.pdf
Capital/Financing Update
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22 July 2014
The Manager Company Announcements Office Australian Stock Exchange Limited 20 Bridge Street SYDNEY NSW 2000
EVZ is pleased to announce that its financier, the Commonwealth Bank of Australia, has extended the Group’s existing banking facilities to 31 August 2015. This annual extension will allow the Group to continue with its debt reduction strategy and pursue a number of opportunities to their full extent.
EVZ is also pleased to announce that Brockman Engineering has recently been successful in securing the following contracts:
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Moomba, SA. Carbon Dioxide Storage Tanks
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Banksmeadow, NSW. Aviation Fuel Tank
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Varanas Island, WA. Bulk Storage Tank Repair
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Broome, WA. Bulk Storage Tank Repair
The total value of these contracts is estimated to be more than $10M, which is expected to contribute to revenue and profit during the financial year to 30 June 2015. The restructure of Brockman Engineering completed in FY2014 is yielding significant contract opportunities in the nationwide storage tank industry.
The Syfon business has achieved record contracted work-in-hand both in Australia and Asia at 30 June 2014. This record level of contracts will strongly contribute revenue and profit during the financial year to 30 June 2015. Strategic expansion into Asian markets and holding a dominant position in the Australian market provide a firm base for further growth.
The Melbourne Airport Trigeneration project being delivered by TSF Engineering is progressing to schedule and budget, recently achieving the milestone of all significant plant and equipment having been delivered and installed. Commissioning on the project is expected to commence in the first quarter of FY2015.
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The EVZ Group has not yet finalised its annual result but expects to report a full year to 30 June 2014 EBIT trading loss approximately consistent with the EBIT loss reported for the six months to 31 December 2013 of $780k, before extraordinary items.
For further information please contact:
Scott Farthing Chief Executive Officer EVZ Limited Tel: +61 3 9545 5288 Mob: +61 411 117 403 Email: [email protected]
About EVZ Limited (ASX:EVZ)
EVZ Limited is an industrial group with a portfolio of specialist businesses in the engineering services sector. EVZ operates in the areas of power generation, bulk storage tank design, engineering and construction and stormwater management through subsidiaries TSF Engineering, Brockman Engineering and Syfon Systems. For further information please visit our website www.evz.com.au