March 21, 2018 10:52 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. 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 underground services. In addition, it provides mining services in the areas of shaft sinking, underground development and contract mining, opencast mining, mineral processing, acid mine drainage p...

Aveng Park

1 Jurgens Street


Boksburg,  1459

South Africa

14,832 Employees


27 11 779 2800

Key Executives for Aveng Limited

CFO & Executive Director
Total Annual Compensation: R3.7M
Chief Executive Officer of Mcconnell Dowell Corporation Ltd
Age: 54
Total Annual Compensation: A$1.1M
Executive Director
Age: 51
Total Annual Compensation: R3.8M
Operating Group Managing Director of Aveng Mining
Age: 53
Total Annual Compensation: R3.3M
Managing Director of Aveng Steel
Age: 49
Total Annual Compensation: R3.3M
Compensation as of Fiscal Year 2017.

Aveng Limited Key Developments

Aveng Limited Announces Consolidated Earnings Results for the Six Months Ended December 31, 2017

Aveng Limited announced consolidated earnings results for the six months ended December 31, 2017. For the period, the company reported revenue of ZAR 16,111 million compared to ZAR 14,296 million a year ago. Net operating earnings was ZAR 94 million compared to loss of ZAR 164 million a year ago. Loss before taxation was ZAR 61 million compared to ZAR 392 million a year ago. Loss for the period was ZAR 346 million compared to ZAR 429 million a year ago. Loss for the period attributable to equity-holders of the parent was ZAR 347 million or 86.3 cents per diluted share compared to ZAR 392 million or 97.5 cents per diluted share a year ago. Cash inflow from operating activities was ZAR 878 million compared to cash outflow from operating activities was ZAR 442 million a year ago. Acquisition of property, plant and equipment - expansion was ZAR 37 million compared to ZAR 58 million a year ago. Acquisition of property, plant and equipment - replacement was ZAR 299 million compared to ZAR 145 million a year ago. Acquisition of intangible assets - replacement was ZAR 14 million. Capital expenditure net of proceeds on disposal was ZAR 248 million. Headline loss was ZAR 335 million compared to ZAR 391 million a year ago. Headline loss per share was 84.4 cents compared to 98.5 cents per share a year ago. The Group incurred capital expenditure of ZAR 350 million compared to ZAR 212 million in 2016, applying ZAR 300 million compared to ZAR 145 million in 2016 to replace and ZAR 50 million compared to ZAR 67 million in 2016 to expand property, plant and equipment. Operating free cash outflow was ZAR 648 million. Improvement from ZAR 226 million outflow at December 2016.

Aveng Limited Seeks To Sell Aveng Manufacturing

Aveng Limited (JSE:AEG) is looking to sell certain non-core businesses identified via strategic reviews. The further outcome of strategic review is the decision to exit Aveng manufacturing businesses.

Aveng Limited Announces Demise of Peter John Erasmus, Independent Non-Executive Director

Aveng Limited announced that Mr. Peter John Erasmus, an independent non-executive director of the Company, passed away on 4 February 2018. Peter was a dedicated member of the Board since March 2011. He served as Risk Committee chairman, Tender Risk Committee chairman and a member of the Audit Committee.

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