Perenti posts strong finish to FY22 and well positioned for further earnings growth in FY23

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.