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Business Description: Downer EDI (DOW) consists of a group of companies that specialise in the engineering, construction, telecommunications, mining and resource sectors in the Asia Pacific region. Divisions include Australia, New Zealand, Asia, Mining and Rail.
Strategy Analysis: The macro environment remains favourable, supported by high infrastructure spending from state governments, particularly in NSW and QLD where DOW has a strong presence. Organic growth is pursued through extending the maturity profile of the order book and increasing the level of repeat work. Bolt on acquisitions bring on board staff and experience in niche areas. Confidence seems to have been restored after several years of mismanagement. Exposure is diversified across the four main business divisions, each functioning autonomously.
Downer EDI reported a net loss of $27.84m for the year ended 30 June 2011. Revenues from ordinary activities were $6.63bn, up 14.4% from last year. Basic and Diluted EPS was (10.5) cents compared to (2.4) cents last year. Net operating cash flow was $185.63m compared to $204.27m last year. No dividend was declared. The company has work-in-hand of around $20.0bn, is strongly aligned to the resources and energy sectors and is well placed to capitalise on the pipeline of opportunities driven by those markets. Subject general market conditions, the company expects to deliver EBIT of around $340.0m for the 2012 financial year and NPAT of around $180.0m.
The Age 7/02/2012 | ISRAEL'S Foreign Minister was headed for Washington overnight amid signs that the US and its Middle East ally hold diverging views on how best to resolve the standoff over Iran's disputed nuclear program.
Sydney Morning Herald 7/02/2012 | There will be fewer love hearts and boxes of chocolates this Valentine's Day for the short-lived chief executive of Perpetual Limited, Chris Ryan.
Sydney Morning Herald 7/02/2012 | HOTEL owners and operators are preparing for a busy year of openings and renovations as demand increases from domestic travellers.
The Age 6/02/2012 | AUSTRALIA has a reputation for embracing technological developments quickly. We had a record take-up of VHS, DVD and widescreen television, and it is widely claimed that the Land of Oz has more home theatres per head of population than anywhere else in the world.
Sun Herald 5/02/2012 | INVESTORS cheered during the week, perhaps convinced that the latest rearrangement of deckchairs on the good ship euro will do the trick and right the heavily listing vessel.
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