July 26, 2016 4:07 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


Boksburg,  1620

South Africa

25,466 Employees


27 11 779 2800


27 11 784 5030

Key Executives for Aveng Limited

Chief Executive Officer, Executive Director, Member of Tender Risk Committee and Member of Executive Committee
Age: 50
Total Annual Compensation: R4.4M
Group Financial Director, Executive Director and Member of Executive Committee
Total Annual Compensation: R3.2M
Operating Group Managing Director of Aveng Mining
Age: 52
Total Annual Compensation: R4.0M
Managing Director of Aveng Manufacturing
Age: 54
Total Annual Compensation: R3.5M
Executive Director and Member of Executive Committee
Age: 50
Total Annual Compensation: R3.4M
Compensation as of Fiscal Year 2015.

Aveng Limited Key Developments

Aveng Limited Announces Retirement of Peter Ward from the Board of Directors

Aveng Limited announced that non-executive director Mr. Peter Ward will be retiring from the Board of directors of Aveng with effect from 30 June 2016.

Aveng Limited Reports Consolidated Earnings Results for the Six Months Ended December 31, 2015

Aveng Limited reported consolidated earnings results for the six months ended December 31, 2015. For the period, revenue was ZAR 17,998 million against ZAR 23,864 million a year ago. Net operating earnings was ZAR 52 million against ZAR 413 million a year ago. Earnings before financing transactions was ZAR 606 million against ZAR 653 million a year ago. Earnings before taxation was ZAR 450 million against ZAR 487 million a year ago. Earnings for the period attributable to equity-holders of the parent was ZAR 230 million or ZAR 57.2 per diluted share against ZAR 358 million or ZAR 89.3 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 1,252 million against ZAR 574 million a year ago. Cash invested for expansion was ZAR 75 million against ZAR 101 million a year ago. Acquisition of intangible assets was ZAR 7 million against ZAR 26 million a year ago.

Aveng Looks at Steel Divestment

Aveng Limited (JSE:AEG) had prompted a strategic review of the business, which would see, among other actions, Aveng divesting from its steel business. Aveng had received a number of nonbinding offers from various parties to acquire or partner with Aveng, for both the entire steel operating group and for certain of its business units. Further announcements would be made if and when appropriate, said Aveng Chief Executive Officer Kobus Verster.

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