Georgiou Group has released its financial results for the 2021 financial year, with the company securing $1 billion of new contracts in various sectors.
The company’s revenue of $629 million (FY20: $608 million) can be attributed to improved revenue across all civil infrastructure business units.
“We continued to grow our balance sheet and improve our financial performance, with revenue $629 million and EBITDA increasing to $28 million. Net working capital improved in FY21 with net cash of $129 million and working capital of $50 million at 30 June 2021. Work-in-hand has increased to circa $1 billion with many clients adopting collaborative contracts which include ECI and Alliance contracts,” explains Chairman John Georgiou.
“Our results tell a story of an organisation that has continued to secure new projects, deliver work across our pipeline, build strong partnerships, and remain focused on investing in our people,” CEO Rob Monaci.
Overall, the company started the financial year with strong work-in-hand and a growing pipeline of opportunities.
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