Perenti and ABB agree to jointly explore solutions to help mining customers decarbonise operations Posted on November 21, 2022November 21, 2022 by prnadmin Perenti has signed an agreement with leading global technology company ABB to collaborate and explore approaches to support net zero emissions targets for underground and open-pit mines. Experts from the two companies will work together to address electrification in mine hauling operations, power distribution, energy efficiency and power management. Perenti’s significant mining expertise and technical capability will be complemented by ABB’s technology expertise. Together, the teams plan to explore business models and solutions to provide wider services for pilot, brownfield and greenfield mining customer projects to support the electrification of operations. ABB has been calling for open collaboration within the mining industry and has taken action on several similar initial non-binding agreements to build commitments with original equipment manufacturers (OEMs), technology innovators and mining companies. Key relationships have subsequently been formalised, with technologies and solutions created as a result of these deals. “Mining customers are committed to facing environmental, societal and economic challenges head on as they aim to decarbonise mining operations,” said Joachim Braun, Division President, Process Industries, ABB. “With ABB’s sector leading position in electric-mine technology development, and Perenti’s excellence and experience in mine development and mine operations, the scope of this collaboration is a perfect opportunity to make real progress in providing electric solutions that will decarbonise the industry.” Mark Norwell, Perenti Managing Director & CEO with Joachim Braun, Divisional President, Process Industries, ABB “ABB and Perenti share a vision to develop energy efficient solutions for the mining industry,” said Mark Norwell, Managing Director & CEO, Perenti. “By combining our experience across mining operations and digital solutions with ABB’s leading technologies we are focused on supporting the decarbonisation of mining through electrification. We look forward to working with ABB on this exciting new venture.” ABB is committed to creating sustainable progress for today and for future generations by helping mining customers through their energy transition. ABB launched its ABB Ability™ eMine portfolio of technologies and methodologies last year, an approach to make the all-electric mine possible, with fully integrated electrification and digital systems from mine to port. Perenti is committed to acting on climate change through promoting innovation, developing and deploying low emissions technology and working with its clients to implement projects that improve energy efficiency and reduce emissions. You can read the full story in our Investor Centre.
Perenti posts strong finish to FY22 and well positioned for further earnings growth in FY23 Posted on August 23, 2022August 23, 2022 by prnadmin Perenti has delivered strong FY22 financial and operational results, headlined by a significant step-up in 2H22 earnings, and continued improvement in leverage. Mark Norwell, Managing Director and CEO of Perenti, said: “Our strategic focus on maximising cashflow generation from our activities, effectively managing capital and driving operational performance, combined with the professionalism, dedication and resilience of our people, has enabled Perenti to deliver solid financial results for FY22, with a strong second half. “Our 9,000 employees continue to show dedication, passion and resilience, collectively contributing to our improving performance. On behalf of the Board and Group Executive Committee, I thank them for everything they have done in what remains a challenging environment. “We have continued to re-shape our business and are positioned to create a blended portfolio of complementary services through three operating divisions. This portfolio will be underpinned by our Contract Mining Division, which remains our core business and is the source of our major growth projects with globally recognised and respected brands. “Our portfolio also includes the divisions of Mining Services and idoba, which will both support our contract mining activities as well as provide strong medium and long-term growth opportunities in new and future facing services, with lower capital intensity. “Combined with a streamlined corporate centre, Perenti is positioned to deliver a step-up in cash backed profits in FY23, with further improvements expected to drive earnings growth through to FY25 and beyond.” For more information on Perenti’s FY22 Full Year Results visit our Investor Centre.
Perenti announces strategic investment in idoba by Sumitomo Corporation Posted on August 22, 2022August 22, 2022 by prnadmin Perenti is pleased to announce it has successfully executed a share sale agreement in relation to a strategic investment by Sumitomo Corporation (Sumitomo) in idoba, Perenti’s technology informed services business. The transaction further strengthens Sumitomo’s commitment to the idoba business, following the Memorandum of Understanding announced in February 2022. Under the Agreement, Sumitomo will acquire 10% of the issued shares in idoba for a total of $5.4 million. This implies a current idoba Equity Value of $54.0 million and Enterprise Value of $80.0 million reflecting the unique value proposition of the idoba ecosystem, and the significant embedded growth potential within both its consulting services and suite of Software as a Service products. Mark Norwell, Managing Director and Chief Executive Officer of Perenti, said that the strategic investment in idoba by a world class counterparty is in recognition of the embedded value of idoba within Perenti, and the substantial growth opportunity that the business represents. More information on the agreement can be found in our Investor Centre.
