Perenti (ASX:PRN) and ABB to jointly search for decarbonisation solutions

November 21, 2022 12:39 PM AEDT | By Sonal Goyal

Perenti (ASX:PRN) and ABB to jointly search for decarbonisation solutions — Image source: © Milslav78 | Megapixl.com

Details of Perenti and ABB collaboration

Perenti informed the market that two experts from both companies would work to address electrification in power management, energy efficiency, power distribution and mine hauling operations.

Under the agreement, the teams intend to explore solutions and business models to offer a range of services to greenfield, brownfield and pilot mining customer projects. The services will focus on the electrification of the client’s operations.

Management Commentary

ABB’s process industries division president, Joachim Braun, commented on the development

Perenti outlook for FY23

Recently (14 November 2022), Perenti has upgraded its guidance range, driven by year-to-date operational performance. The group expects to report revenue between AU$2.6 and AU$2.7 billion in the financial year 2023 (FY23). The expected range of EBIT (A) is AU$215 to AU$230 million. The company anticipated a record CAPEX of AU$340 million and leverage of 1.1x to 1.2x.

Perenti shared that it has secured revenue of around AU$2.3 billion from work in hand of AU$6.5 billion.

For FY25, the company targets an EBIT(A) margin of 10%, the revenue of AU$2.5 billion, ROACE (return on average capital employed) of 20% and leverage of approximately 1.0x.

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