AVENG LIMITED - McConnell Dowell New Work Won

McConnell Dowell – New Work Won

AVENG LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1944/018119/06)
ISIN: ZAE000302618
SHARE CODE: AEG
("Aveng" or "the Company")


McConnell Dowell – New Work Won


Aveng’s Australasia based subsidiary, McConnell Dowell, has increased its work in hand at 30 September 2022
by 39%, to AUD3,5 billion (c.R40 billion) after successfully securing AUD1,4 billion (c.R16 billion) of new work.
The new work spans across the Company’s diverse specialist capabilities and disciplines with 52% of the new
work being in Design and Construct, 34% Alliance and 14% Construct only.

The Australian business unit accounted for the majority of the tender wins. The market in New Zealand & Pacific
Islands and Build Environs continues to offer opportunity whilst Southeast Asia continues to be challenging as it
emerges from prolonged Covid-19 restrictions.

Global inflationary pressures continue to be a factor in developing new tender submissions and in managing our
new and existing contracts. Our management team continues to apply a series of mitigating strategies to manage
the impact of these through measures such as escalation clauses and rise and fall applicable to the contract as a
whole or on agreed items.

The new work brings the secured revenue for FY23 to 98%.

13 October 2022
Melrose Arch


JSE Sponsor
Investec Bank Limited

Itumeleng Lepere
Stakeholder Engagement Lead
Tel: 011 779 2800
Email: investor.relations@avenggroup.com

Date: 13-10-2022 11:02:00
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