Commercial terms include:

- The project could generate between £100m-£120m in revenue over 2 years

- Subject to commercial negotiations and final contract pricing

- Work is expected to commence this year

Project includes:

- Build, transport and installation of 4 floating pontoons

- Each approximately 90m long

- Construction work to be spread amongst multiple facilities

Market Intelligence

- Analysts at Cavendish leave their forecasts UNCH

- But note, HARL would have an estimated c£170m of contracted revenue in FY24E

- Further improving their visibility over the £200m in their FY24E forecast

- Share price is up 11% on the news

"Following a competitive bid process, I am delighted that the Falkland Islands Government has selected Harland & Wolff as preferred bidder for this project. The Company enjoys an excellent relationship and a rich heritage with the Falkland Islands given that Harland and Wolff built the six linked barges which make up the existing port facility 45 years ago. I look forward to working closely with the Falkland Islands Government and bringing this contract to fruition."

John Wood, Chief Executive Officer of Harland & Wolff Group of Companies