Enhanced Investments - Financial Portal

McConnell Dowell – New Work Won

Published: 2022-10-13 12:02:26 ET

AVENG LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1944/018119/06)
ISIN: ZAE000302618
SHARE CODE: AEG
("Aveng" or "the Company")



 McConnell Dowell – New Work Won



Aveng’s Australasia based subsidiary, McConnell Dowell, has increased its work in hand at 30 September 2022
by 39%, to AUD3,5 billion (c.R40 billion) after successfully securing AUD1,4 billion (c.R16 billion) of new work.
The new work spans across the Company’s diverse specialist capabilities and disciplines with 52% of the new
work being in Design and Construct, 34% Alliance and 14% Construct only.

The Australian business unit accounted for the majority of the tender wins. The market in New Zealand & Pacific
Islands and Build Environs continues to offer opportunity whilst Southeast Asia continues to be challenging as it
emerges from prolonged Covid-19 restrictions.

Global inflationary pressures continue to be a factor in developing new tender submissions and in managing our
new and existing contracts. Our management team continues to apply a series of mitigating strategies to manage
the impact of these through measures such as escalation clauses and rise and fall applicable to the contract as a
whole or on agreed items.

The new work brings the secured revenue for FY23 to 98%.

13 October 2022
Melrose Arch


JSE Sponsor
Investec Bank Limited

Itumeleng Lepere
Stakeholder Engagement Lead
Tel: 011 779 2800
Email: investor.relations@avenggroup.com

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

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All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.