April 28, 2017 5:05 PM ET

Construction and Engineering

Company Overview of Aveng Limited

Company Overview

Aveng Limited, together with its subsidiaries, primary engages in the construction and engineering, mining, and steel business worldwide. The company operates through Construction and Engineering, Mining, and Manufacturing and Processing segments. It offers a range of integrated services that cover building, civil engineering, roads, earthworks, concrete, ground engineering, mechanical, piping, electrical, and instrumentation contracting. The company also operates as an engineering, construction, building, and maintenance contractor for the building, infrastructure, and resource markets focusing on building, rail, civil, electrical, marine, mechanical pipelines, fabrication, tunneling, and u...

Aveng Park

1 Jurgens Street

Jetpark

Boksburg,  1620

South Africa

Phone:

27 11 779 2800

Fax:

27 11 784 5030

Key Executives for Aveng Limited

Chief Executive Officer and Executive Director
Age: 50
Total Annual Compensation: R5.9M
Group Financial Director and Executive Director
Total Annual Compensation: R4.0M
Chief Executive Officer of Mcconnell Dowell Corporation Ltd
Age: 53
Total Annual Compensation: R1.2M
Executive Director
Age: 50
Total Annual Compensation: R4.0M
Managing Director of Aveng Steel
Age: 48
Total Annual Compensation: R3.5M
Compensation as of Fiscal Year 2016.

Aveng Limited Key Developments

Aveng Limited Reports Consolidated Earnings Results for the Six Months Ended December 31, 2016

Aveng Limited reported consolidated earnings results for the six months ended December 31, 2016. For the period, revenue was ZAR 14,296 million against ZAR 17,998 million a year ago. Operating earnings was ZAR 1 million against ZAR 52 million a year ago. Net operating loss was ZAR 164 million against earnings of ZAR 52 million a year ago. Loss before taxation was ZAR 392 million against earnings of ZAR 450 million a year ago. Loss for the period attributable to equity-holders of the parent was ZAR 293 million or ZAR 97.5 per diluted share against earnings of ZAR 230 million or ZAR 57.2 per diluted share a year ago. Headline loss per diluted share was ZAR 57.5 against earnings of EUR 34.4 a year ago. Cash outflow from operating activities was ZAR 442 million against ZAR 1,252 million a year ago. Property, plant and equipment purchased were ZAR 58 million against ZAR 75 million a year ago. Acquisition of intangible assets was ZAR 9 million against ZAR 7 million a year ago. Net adjusted operating loss was ZAR 164 million against earnings of ZAR 52 million a year ago. Earnings before interest, taxation, depreciation and amortization (EBITDA) were ZAR 344 million against ZAR 496 million a year ago. Headline loss was ZAR 391 million against ZAR 231 million a year ago. The adjusted basic loss per share decreased to 19.4 cents loss per share against: 61.8 cents earnings per share a year ago, after adjusting the profit on sale of property of ZAR 577 million in the comparative period and adjusted headline loss per share improved to 19.2 cents loss per share compared to 58.0 cents loss in the comparative period. Adjusted headline loss was ZAR 76 million against ZAR 231 million a year ago. Headline loss per share declined to 98.5 cents loss per share compared to 58.0 cents a year ago.

Aveng Limited, H1 2017 Earnings Call, Feb 21, 2017

Aveng Limited, H1 2017 Earnings Call, Feb 21, 2017

Aveng Limited Provides Earnings Guidance for the Six Months Ended December 31, 2016

Aveng Limited provided earnings guidance for the six months ended December 31, 2016. For the period, the company expects to report adjusted headline earnings of between ZAR 1 million and ZAR 20 million. This compares to a reported headline loss of ZAR 231 million in the period ended December 31, 2015. The Group expects to report a headline loss of between ZAR 290 million and ZAR 310 million and between 25% and 34% worse than the headline loss of ZAR 231 million for the period ended December 31, 2015. Headline loss per share is expected to reduce by between 26% and 34% and be between 73.0 cents per share and 78.0 cents per share compared to headline loss per share of 58.0 cents per share for December 31, 2015. Loss for the period is expected to decrease by between 226% and 235% and be between ZAR 290 million and ZAR 310 million compared to earnings of ZAR 230 million for December 31, 2015. Loss per share is expected to reduce by between 226% and 235% and be between 73.0 cents per share and 78.0 cents per share compared to 57.8 cents earnings per share for December 31, 2015. Net debt is expected to be ZAR 937 million compared to ZAR 534 million as of June 30, 2016, mainly as a result of the weaker performance and slower than anticipated settlement of contract claim receivables in McConnell Dowell. Positively, the net position has substantially improved post-December 31, 2016 with the receipt of the remaining proceeds from the sale of Aveng Capital Partners' infrastructure investments and the settlement of previously-delayed receivables.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
April 25, 2017
--
Merger/Acquisition
April 12, 2017
--
Merger/Acquisition
December 22, 2016
--
 

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