- Release Date: 01/02/16 14:38
- Summary: GENERAL: DOW: Capital Metro Bid Costs
- Price Sensitive: No
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DOW 01/02/2016 14:38 GENERAL PRICE SENSITIVE REL: 1438 HRS Downer EDI Limited GENERAL: DOW: Capital Metro Bid Costs Downer EDI Limited ABN 97 003 872 848 Triniti Business Campus 39 Delhi Road North Ryde NSW 2113 1800 DOWNER www.downergroup.com Media/ASX and NZX Release 1 February 2016 CAPITAL METRO BID COSTS Downer EDI Limited (Downer) announced today that the ACTivate consortium had not been successful in its bid to build, operate and maintain Canberra's new light rail system, known as the Capital Metro project. Downer is a member of the ACTivate consortium and, in its full year results announcement on 6 August 2015, said its bid costs would be expensed in the event the consortium was not successful. Downer's share of pre-tax bid costs totalled $13 million, in line with the estimate provided at the time of its full year results of between $10 million and $15 million. Downer announced at its 2015 full year results that it was targeting net profit after tax (NPAT) of around $190 million for the 2016 financial year. As a consequence of expensing the bid costs relating to Capital Metro, the NPAT target for the 2016 financial year is now around $180 million. About Downer Downer EDI Limited (Downer) is a leading provider of services to customers in markets including: Transport Services; Rail; Mining; Utilities Services; Technology and Communications Services; and Engineering, Construction & Maintenance. We build strong relationships of trust with our customers, truly understanding and predicting their needs and bringing them world leading insights and solutions. Downer employs about 20,000 people across more than 200 sites and projects, mostly in Australia and New Zealand, but also in the Asia-Pacific region, South America and Southern Africa. For more on Downer, visit: www.downergroup.com. For further information please contact: Michael Sharp, Group Head of Corporate Affairs and Investor Relations +61 439 470 145 End CA:00277071 For:DOW Type:GENERAL Time:2016-02-01 14:38:08
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