Takeover or Activist Vendor opportunity here15 Feb 2025 14:04
Focus on 2026: The company is emphasizing its expectation of positive free cash flow in 2026, suggesting that they see 2025 as a temporary setback.
FY24 Guidance Met: The company delivered FY24 adjusted EBITDA and EBIT within the provided guidance range, despite Q4 challenges.
Strong Order Book: The order book increased significantly to $6.2 billion, driven by large wins, which underpins future growth potential.
Cost Reduction Program: The company is expanding its cost-saving program, targeting $145 million in annual savings by FY26.
De-risking of Business: The company has eliminated lump sum turnkey (LSTK) projects from its revenue, order book, and pipeline, reducing future risk.
Positive Free Cash Flow Expected in 2026: Driven by operational improvements, EBITDA growth, and reduced exceptional costs.