AI assistant
SERVICE STREAM LIMITED — Capital/Financing Update 2023
Jul 20, 2023
65865_rns_2023-07-20_1e3d324f-b456-4133-a586-0f0537b02592.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [52 x 51] intentionally omitted <==
21 July 2023
Office of Company Secretary Level 4, 357 Collins Street MELBOURNE VIC 3000 AUSTRALIA Phone: (03) 9677 8888 Fax: (03) 9677 8877
Company Announcements Australian Securities Exchange Limited Level 4, 20 Bridge Street SYDNEY NSW 2000 AUSTRALIA
Dear Sir/Madam
Re: SERVICE STREAM SECURES NEW CONTRACTS
In accordance with the Listing Rules, I attach a market release/announcement, for release to the market.
Yours faithfully,
==> picture [107 x 36] intentionally omitted <==
Chris Chapman Company Secretary Service Stream Limited
Service Stream Limited ABN 46 072 369 870
HEAD OFFICE Level 4, 357 Collins Street, Melbourne VIC 3000 | Mailing Address: PO Box 14570 Melbourne VIC 8001 T +61 3 9677 8888 | F +61 3 9677 8877 | E [email protected] | www.servicestream.com.au
Page | 1
==> picture [52 x 51] intentionally omitted <==
ASX Announcement
21 July 2023
SERVICE STREAM SECURES NEW CONTRACTS
Leading essential network services provider Service Stream Limited (ASX: SSM) is pleased to announce that it has recently secured two new agreements which together are expected to generate approximately $340 million in revenue over their respective terms.
NBN Evolution Agreement
The N2P Evolution Agreement supports nbn’s Fibre Connect program, which seeks to deploy additional fibre infrastructure across Australia. The program encompasses the provision of specialist planning, design and construction services to support eligible premises with progressive access to Fibre to the Premise (FTTP) technology.
The additional program award is expected to generate approximately $170 million of revenue over the term and represents a further expansion to the additional allocation announced in April 2023. This program is expected to be delivered over a 12-18 month period, with works secured across targeted regional locations within Victoria, New South Wales and Queensland.
AGL Maintenance Agreement
Service Stream has been appointed by AGL to perform station maintenance at the Loy Yang Power site in the Latrobe Valley, under a 5-year agreement expected to generate approximately $170m over its term.
The scope of works under this agreement encompasses station maintenance incorporating boiler and combustions, flue gas and draft, steam cycle, water and turbine generation, as well as electrical maintenance on mine infrastructure.
Managing Director, Leigh Mackender said:
“As a major delivery partner, Service Stream is delighted to secure another substantial program allocation with nbn, further complementing the works announced in April of this year.
The business is also proud to further expand its role in supporting AGL with this important infrastructure maintenance agreement, which demonstrates the positive progress of our Utility Division’s strategic repositioning to target additional annuity-style, lower-risk works.
These agreements provide positive momentum for the business, reduce unsecured FY24 revenues and provide the opportunity to support investment in Service Stream’s broader growth and optimisation strategy in the year ahead”.
Service Stream Limited ABN 46 072 369 870
HEAD OFFICE Level 4, 357 Collins Street, Melbourne VIC 3000 | Mailing Address: PO Box 14570, Melbourne VIC 8001 T +61 3 9677 8888 | F +61 3 9677 8877 | E [email protected] | www.servicestream.com.au
Page | 2
==> picture [52 x 51] intentionally omitted <==
For further information on this announcement, please contact:
Service Stream Limited Service Stream Limited Leigh Mackender Linda Kow Managing Director Chief Financial Officer Tel: +61 3 9937 6350 Tel: +61 3 9937 6350 E: [email protected] E: [email protected]
This document has been authorised for release by the Board of Directors.
About Service Stream Limited:
Service Stream is a public company listed on the Australian Securities Exchange (Code: SSM). The Service Stream Group is a provider of essential network services to the telecommunications, utility and transport sectors. Service Stream operates across all States and Territories, has a workforce in excess of 5,000 employees and access to a pool of over 12,000 specialist contractors. For more information visit www.servicestream.com.au
Service Stream Limited ABN 46 072 369 870
HEAD OFFICE Level 4, 357 Collins Street, Melbourne VIC 3000 | Mailing Address: PO Box 14570, Melbourne VIC 8001 T +61 3 9677 8888 | F +61 3 9677 8877 | E [email protected] | www.servicestream.com.au
Page | 3