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
Harland & Wolff (HARL)