FY2022 Annual Report

DRA Global reports FY2022 results

Download a copy of the FY2022 Annual Report here

STATEMENT FROM CEO JAMES SMITH

 

 

“ Despite a challenging first half, DRA performed solidly in the second half of the financial year to deliver a modest full year Underlying EBIT profit of A$7.0 million, a A$23.4 million turnaround in the second half. This followed strong operational and safety performance in our core EPCM and operations and maintenance businesses in each region. 

This improvement in financial performance during H2 FY2022, combined with securing A$638 million in new contracts and extensions, validates the decisions we made during FY2022 to reset and strengthen the business – to focus on quality of earnings, and ensure sustainable future profitability and growth. 

Having reshaped our operating model and corporate structure, commercially resolved legacy fixed-price construction contracts and divested the G&S Engineering business in APAC, our FY2022 result represents a rebasing of the business. Our performance throughout the second half of the year demonstrates the positive trajectory expected as we move forward. 

DRA enters FY2023 with committed orders of A$858 million and approximately 60% of forecast FY2023 revenue. From our reliably performing EMEA foundation, leveraging our growing presence in North and South America, and the restructured APAC business, we expect to re-strengthen our balance sheet and enhance cashflow generation over future periods to deliver growing shareholder value."


James Smith, DRA Global CEO

 

 

FY2022 YEar at a glance

Key outcomes

FINANCIAL RESULTS

A$895M           

Revenue

A$1.2Bn FY2021

A$24.3M          

Underlying EBITA1

A$79.7M FY2021

A$1.5M           

Statutory EBIT

A$65.5M FY2021

A$7.0M         

Underlying
EBIT1

A$56.4M FY2021

A$(21.4M)       

Statutory NPAT

A$53.5M FY2021

A$(15.7M)       

Underlying NPAT1

A$44.4M FY2021

A$59.1M          

Net Cash2

A$61.3M FY2021

(79.9) CPS       

Adjusted Basic EPS3

64.5 CPS FY2021

  1. Non-IFRS measure. A reconciliation is disclosed in the Appendix of this presentation.
  2. Cash net of interest-bearing borrowings, other financial liabilities and lease liabilities.   
  3. Earnings adjusted for the revaluation of UPRs on issue. Unadjusted basic loss per share is 44.0 CPS.

Results presentation

 

A presentation for our shareholders hosted by James Smith, Chief Executive Officer, and Michael Sucher, Chief Financial Officer. 

Download the Results Presentation here

CONTACTS

Michael Vaughan
MEDIA QUERIES

michael.vaughan@fivemark.com.au

 

Andrew Prior
INVESTOR QUERIES

andrew.prior@fivemark.com.au

 

SHAREHOLDER ADMINISTRATION

Shareholders@draglobal.com