Valmec announced FY 19 revenue of circa $110m, up 7% on pcp and FY 19 EBITDA of circa $8m, up 11% on FY 18 underlying EBITDA of $7.3m.

This is consistent with the guidance provided at the half year result, namely: “Valmec expects second half revenues and earnings to be significantly higher than the current reporting period with total FY19 earnings now expected to exceed FY18.” 

This implies an exceptional 2H with 2H 19 revenue up 17% to $62.5m and 2H 19 EBITDA up 15% to $4.7m. 

Order Book

This revenue and earnings momentum appears to be continuing with an order book of $80m to take into FY 20.  This is significantly higher than last year’s starting point order book of $61m. 

New construction contract valued at circa $6m for Newmont’s Tanami Expansion Project in the NT. 

Contract is expected to commence immediately, with the majority of the works expected to be completed by Nov 2019.