Ventia Services Group Limited (Ventia) announced its financial results for the 12 months to 31 December 2021 (CY21) on 23 February 2021.

Result highlights:

  • Key CY21 results have outperformed the prospectus forecast
  • CY22 prospectus forecast reaffirmed
  • CY21 dividend payout of 75% of Proforma NPATA1 , 1.47 cents per share, fully-franked 
  • Continued strong safety focus; achieving a 28% reduction in TRIFR2 
  • Total revenue stable at $4.6 billion, demonstrating resilience through 2021
  • Work in hand increased to $16.8 billion, up 28% from CY20
  • Statutory EBITDA of $312.2 million and Statutory NPAT of $19.5 million3  
  • Strong pro forma EBITDA of $379.9 million, up 7.2% at a margin of 8.3% 
  • Diligent cash focus delivered pro forma Operating cash flow conversion of 84.9%4

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1. For the period 19 November 2021 to 31 December 2021
2. TRIFR - Total recordable injury frequency rate, calculated as the total number of recordable injuries, divided by hours worked in millions
3. Including profit after income tax for the year from discontinued operations of $24.6m
4. Operating cash flow represents EBITDA plus any non-cash share payments, less changes in Net Working Capital. Operating cash flow conversion is operating cash flow divided by EBITDA expressed as a percentage