The New Year period may be a time to wind down for some, but it hasn’t been for infrastructure development company Decmil (ASX: DCG) which has been awarded road construction contracts on opposite sides of the country in both Western Australia and Queensland.
The larger of the two has been awarded by Main Roads, Western Australia (MRWA) which has engaged Decmil to construct the Mitchell Freeway Principal Shared Path from Civic Place to Reid Highway.
The contract is valued at $23.3 million to Decmil and comes following their admission to the State-wide Road Construction Panel. The contract comes after also securing the Great Eastern Highway contract in September 2021 valued at $28.2 million.
On the other side of the country, the Company has also been awarded a $4.5 million contract by The Queensland Department of Transport and Main Roads (TMR).
Work in the Sunshine State will see Decmil upgrade 5.1km of road on the Capricorn Highway between Emerald and Winton Creek. This is expected to be completed by June 2022.
While Decmil was initially impacted significantly by COVID when forced to shutdown construction projects, the Company entered the backend of the pandemic with a wet sail, seemiling landing new infrastructure contracts with every passing month.
Pandemic setbacks saw Decmil report a $42.3 million EBITDA loss in FY20 but with a business restructure and pandemic recovery, the Company bounced back in FY21 to deliver $7.6 million EBITDA from $313m in revenue.
With a strong pipeline of work secured, Decmil anticipates reporting more than $500 million in revenue for FY22.
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