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Kelsian Group Limited (ASX:KLS)

ALERT: Price-sensitive ASX Announcement for KLS
Current share price for KLS : $4.010 -0.43 (-9.68%)+
Announcement
Release
2 Jul 2026 8:19AM
Price at Release
$4.440
Full Release
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Summary
Kelsian Group Limited, in a joint bid with Belaire Ferries Limited, has been awarded the Auckland Transport’s Western Package Ferry Contracts, which will commence on 1 July 2027 and are projected to generate NZ$101 million over an initial seven-year term. These contracts include mechanisms to mitigate cost fluctuations, such as changes in diesel fuel prices. Concurrently, Kelsian has entered into a binding agreement to acquire Belaire Ferries for NZ$8.9 million, which comprises an upfront cash payment and deferred considerations. The acquisition is expected to complete in Q1 FY27 and will be funded using existing cash reserves. This strategic move aims to expand Kelsian's presence in New Zealand by leveraging Belaire's existing operations and integrating them with Kelsian's services.
Key Points
  • Kelsian awarded Auckland Transport’s Western Package Ferry Contracts.
  • Contracts to generate NZ$101 million over seven years.
  • Kelsian acquiring 100% of Belaire Ferries for NZ$8.9 million.
  • Acquisition includes upfront and deferred payments.
  • Operations to start on 1 July 2027, initially with six vessels.
  • Five new ferries to be procured over the contract term.
  • Acquisition to complete in Q1 FY27, funded from existing reserves.
  • Strategic expansion into New Zealand market.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.