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EVZ LIMITED — Earnings Release 2015
Aug 12, 2015
64889_rns_2015-08-12_2225f827-5615-4086-900e-dddb3ddc7c5a.pdf
Earnings Release
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13 August 2015
The Manager Company Announcements Office Australian Stock Exchange Limited 20 Bridge Street SYDNEY NSW 2000
Results Guidance
The second half of FY15 has seen some significant challenges within the EVZ Group of businesses which has led to deterioration in the financial results for the Group compared to the first half of FY15.
EVZ advises that the expected net loss before tax will be approximately $10.4 million, a deterioration from the net loss of $7.1million for FY14. This is still subject to the finalisation of the audit review process.
The deterioration in results stems from the following:
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Given the challenging circumstances facing the Group it will be necessary to write down the carrying value of goodwill in some businesses in the FY15 results.
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Commercial resolutions being taken on a number of the Group’s key projects completed or near completion.
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The continuing higher interest costs associated with Group debt has also negatively impacted the financial results.
The Brockman Engineering division continues its strong turnaround and has delivered a marked improvement across the financial year. It has a significant contracted pipeline of work for FY16. The Syfon Systems Asia division is also experiencing high levels of contracted work for FY16.
Further details regarding EVZ’s performance for the full year will be provided with the release of the final results and Appendix 4E which is expected to be released in the last week of August 2015.
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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