Things seem a bit murky with SSM, and definitely NBN doesn't help to clarify things - nothing on their website yet.
As I understand it, NBN has contributed around $430m in annual revenue. This includes a diversity of services, including design, construction, and O&M. The previous announcement of $60m is the continuation of the design / construction works which includes VIC and NSW. But the bulk of revenue and earnings is the O&M. In September their contract was temporarily extended while this procurement was going on, with an estimated $280-330m in O&M across VIC, NSW, QLD, WA, NT, SA an ACT. Now they have been awarded only $70m for QLD, WA NT and SA. So there could be a hole of around $200-250m in revenue for FY22+, or there could be further announcements from NBN/SSM depending on the stage of the procurement. BSA already announced they were awarded VIC, NSW and ACT; Downer not announced anything yet (missed out, or just a gap?).
Things seem a bit murky with SSM, and definitely NBN doesn't...
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