Civmec secures $174 million in multi-sector construction contracts, strengthens order book

Construction and engineering company Civmec (ASX: CVL, SGX: P9D) has continued its momentum, securing streams of new contracts totaling $174 million, across fabrication, manufacturing, construction, and maintenance services in Australia. 

A significant portion of the awarded contracts centres around the design, manufacture, and offsite assembly of a new shiploader for the Dalrymple Bay Terminal in Queensland. Civmec will leverage its state-of-the-art facilities in Henderson, Western Australia, to deliver a high-quality shiploader optimised for efficiency and reliability. This project also creates local employment and subcontracting opportunities, reflecting Civmec’s commitment to community engagement.

Civmec has secured a range of new maintenance contracts across Australia. This includes replacing shiploader components in Western Australia’s Pilbara region, repairing and inspecting wharfs on both coasts, and providing ongoing maintenance services for clients in diverse sectors like alumina, lithium, cement, aluminium, and explosives. This expansion strengthens Civmec’s presence in the maintenance sector and positions them as a comprehensive service provider for various Australian industries.

Civmec’s Chief Executive Officer, Patrick Tallon, said, “We are delighted to continue to secure further work with our existing clients, which is a testament to our ability to meet our clients’ needs. 

“We have made significant investments into our capabilities over the years, enabling successful delivery of a wide range of materials handling equipment for many clients and commodities. Following the recent completion of the manufacture of a shiploader for the Hay Point Coal Terminal, we are very pleased to have been awarded the contract for a shiploader at Dalrymple Bay Terminal. We look forward to growing this contract into another long lasting relationship.”

Following other wins that include a bucket wheel and ring chute for Port Waratah Coal Services, SB31 Bridge,Viaduct and Australia’s first iron bridge and a national defence infrastructure project, the latest $174m of collective contracts highlights Civmec’s diverse capabilities across multiple sectors. 

Civmec reported strong financial results for the first half of FY24 with a 17.5% increase in revenue to $492.3 million and a 12.6% increase in EBITDA to $59.6 million, compared to the same period last year.