Mining contractor NRW Holdings has had a record-breaking financial year, reporting its best set of results in its nearly 30-year history.
In the 2022–23 financial year (FY23), the group grew its revenue base by 11.4 per cent to $2.7 billion. In this time, earnings grew by 13.3 per cent to $166.3 million.
In his 2023 annual general meeting presentation, NRW chief executive officer and managing director Jules Pemberton paid special thanks to the workforce.
“Our 7200 strong workforce has delivered these milestone results from over 120 projects across Australia and internationally from our engineering operations in North America,” he said.
NRW will start FY24 will its highest ever secured order book of $5.9 billion and over 90 per cent of its planned FY24 revenue secured.
“I’m pleased to be able to report to you that since year-end, we now have $2.9 billion of secured work for FY24 which is $100 million higher than our recently stated guidance at the full year results in August,” Pemberton said.
“In addition, we have $3 billion of revenue secured for FY25 and beyond.”
NRW expects lithium will have much to do with its future financials.
“Established lithium producers are planning to increase production capacity through expanding existing mining operations or transitioning underground,” Pemberton said.
Currently, NRW is active across several Australian lithium operations, including Core Lithium’s Finniss project in the NT, and Liontown’s Kathleen Valley project and Pilbara Minerals’ Pilgangoora project in WA.
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