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  • Energy and infrastructure servicer Valmec announced record breaking earnings for the 2019 financial year, up 64 per cent to $8.06 million
  • Valmec’s Managing Director said strengthening market conditions in the resources and energy sectors, puts the company in a good position to increase earnings during FY20
  • Valmec’s share price is up 11.11 per cent today, currently worth $0.32 apiece

Valmec has exceeded its previous records for its Ebitda during the 2019 financial year.

Its ebitda soared 64 per cent, bringing it to the record amount of $8.06 million.

Revenue increased by 6.3 per cent during the financial year, bringing it to $110 million. Valmec attributes the solid earnings to its services segment, which accounted for roughly 50 per cent.

Although a more modest change, profit after tax also jumped from $1.164 million in the 2018 financial year, to $3.5 million during 2019.

Heading into the 2020 financial year, the company’s order book sits at $80 million and its pipeline is valued at $595 million.

Managing Director of Valmec Steve Dropulich said: “Strengthening market conditions in the resources and energy sectors will continue to galvanise this pipeline, delivering opportunities where Valmec can add value.”

It is expected the Australian energy, water and resource infrastructure sectors will provide the most opportunity.

According to Steve, the company’s acquisition of APTS last year will contribute to securing contracts in the liquified natural gas sector.

“Presenting a new targeted and integrated sales proposition incorporating Valmec construction, service and APTS capabilities, Valmec presents as a unique offering to the LNG sector,” he said.

Valmec’s share price is up 11.11 per cent today, sitting in the green at Wednesday’s trading close. Shares in the company are currently worth $0.32 apiece.

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