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AVENG:  590   0 (0.00%)  15/08/2025 19:00

AVENG LIMITED - Updated trading statement

Release Date: 15/08/2025 16:55
Code(s): AEG     PDF:  
Wrap Text
Updated trading statement

AVENG LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1944/018119/06)
ISIN: ZAE000302618
SHARE CODE: AEG
("Aveng" or "the Group")



UPDATED TRADING STATEMENT


This trading statement is in accordance with paragraph 3.4 (b) of the JSE Listings Requirements, which
requires issuers to publish a trading statement as soon as they are satisfied that a reasonable degree
of certainty exists that the financial results for the period to be reported on will differ by at least 20%
from those of the prior comparative period.

Shareholders are referred to the trading statement and operational update announced on SENS on 9
June 2025, detailing that the Group will report an expected basic and headline loss per share for the
year ended 30 June 2025.

The Group will report an operating loss before capital items in the second half of the year in line with
that reported in the first half. The operating loss before capital items for the year was negatively
impacted by the J108 project in Southeast Asia and the Kidston Pumped Hydro project in Queensland.
In addition, a warranty provision has been raised in Southeast Asia due to recently identified defects on
a project currently in its defect liability period. The remainder of the project portfolio continues to operate
in line with improving expectations.

Following the completion of projects in the year and the award of the new Gamsberg project, the Mining
segment conducted an optimisation exercise on its fleet. This involved redeploying existing equipment,
entering into a rebuild programme and disposing of redundant or end of life fleet. An impairment charge
of A$11.9 million has been recognised in respect of assets identified for disposal.

New Zealand operations have consistently reported profit. In prior periods, taxable profit was offset by
previously reported tax losses in New Zealand. These tax losses were fully utilised and the Group will
report a tax charge in the current year. This results in an overall tax charge of A$15.1 million for the
Group.

Accordingly, the Group hereby advises that a reasonable degree of certainty exists that the results for
the year ended 30 June 2025 will be within the following ranges:

                                                                        Expected                      Reported
                                                                      30 June 2025                  30 June 2024

                                                               A$'000            % change              A$'000
 (Loss) / earnings for the year                          (91 400) – (93 200)   more than 100%          25 660
 Headline (loss) / earnings                              (83 800) – (87 200)   more than 100%          37 970

                                                              A$ cents           % change             A$ cents
 Basic (loss) / earnings per share                         (69.0) – (72.5)     more than 100%           20.0
 Headline (loss) / earnings per share                      (63.3) – (67.2)     more than 100%           29.6
 Diluted (loss) / earnings per share                       (69.0) – (72.5)     more than 100%           19.5
 Diluted headline (loss) / earnings per share              (63.3) – (67.2)     more than 100%           28.9


The Group expects to release its audited results on or about 19 August 2025.

The financial information on which this updated trading statement is based has not been reviewed or
reported on by the Group's auditors.

15 August 2025

Boksburg, South Africa
JSE Sponsor
Valeo Capital (Pty) Ltd


Edinah Mandizha
Company Secretary
Tel: 011 779 2800
Email: Edinah.mandizha@avenggroup.com

Date: 15-08-2025 04:55:00
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