AI assistant
SGH LIMITED — Capital/Financing Update 2018
May 13, 2018
65777_rns_2018-05-13_22e840bc-da64-43b7-b1f9-84ab7e1deb8f.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [212 x 31] intentionally omitted <==
14 May 2018
Seven Group Holdings upgrades FY18 guidance
Seven Group Holdings Limited (ASX Code (“SVW”) hereinafter referred to as (“SGH”) today provides a trading update for its key operating businesses, which are performing ahead of expectations in the year to date. The underlying strength of mining production and east coast infrastructure activity, together with unseasonably dry weather and one-off projects, has resulted in improved revenue and profit for the Group in FY18.
Commenting on the results to date, Ryan Stokes, Managing Director and Chief Executive Officer of SGH said: “The Group has exposure to some strong underlying fundamental trends that are driving the Australian economy. Our industrial services businesses continue to benefit from an upswing in mining and infrastructure activity levels. The Group has successfully executed a number of value accretive transactions in the financial year to date, enabling us to enhance our exposure to these core sectors while also enhancing the capital structure.”
As a result of the improved performance of the operating businesses, the Group expects FY18 underlying EBIT to be approximately 20 to 25 per cent above the pro-forma FY17 underlying EBIT of $376.9 million, subject to SGH and Beach Energy finalising the acquisition accounting for Coates Hire and Lattice Energy, respectively.
Media contacts: Jim Kelly +61 412 549 083 / Lauren Thompson +61 438 954 729
Seven Group Holdings is a leading Australian diversified operating and investment group with market leading businesses and investments in industrial services, media and energy. In industrial services, WesTrac Group is the sole authorised Caterpillar dealer in Western Australia, New South Wales and the Australian Capital Territory in Australia. WesTrac is one of Caterpillar's top dealers globally (by sales value). SGH also owns Coates Hire, Australia’s largest equipment hire business, and AllightSykes, a supplier of lighting towers, generators and pumps. In media, SGH has a 41 per cent shareholding in Seven West Media, Australia’s largest multiple platform media company, including the Seven Network, The West and Pacific. The Group also has a 26 per cent shareholding in Beach Energy and has interests in oil and gas projects in Australia and the United States.
==> picture [69 x 25] intentionally omitted <==
==> picture [108 x 18] intentionally omitted <==
==> picture [22 x 25] intentionally omitted <==
==> picture [97 x 25] intentionally omitted <==
Seven Group Holdings Limited | ABN 46 142 003 469
38-42 Pirrama Road | Pyrmont NSW 2009 Australia | Postal Address: PO Box 777 | Pyrmont NSW 2009 Australia Telephone +61 2 8777 7777 | Facsimile +61 2 8777 7192