Performance overview
Our 2016 result was solid,
demonstrated by an 11.5% increase in
net profit after tax to $580.3 million,
which was at the top end of our
guidance range of $520 million to
$580 million.
Our margins further improved during
the year as we efficiently managed
costs and risks.
Our strong balance sheet position
was also sustained. Cash flows from
operating activities
9
were strong at
$1.2 billion. We reported net cash
excluding operating leases of
$409.3 million as at 31 December
2016, after net investments of
$1 billion, including the share buy-
back program, the acquisition of
shares in UGL, Sedgman and Devine,
and the divestment of Nextgen.
Revenue
4
was $10.9 billion and
showed a positive growth trend
throughout 2016, increasing quarter
on quarter since the second quarter
of the year.
Further details on our Company’s
performance are contained in the
Operating and Financial Review
section within this Annual Report.
Work won and our outlook
CIMIC has a robust pipeline of
$34 billion of work in hand
13
as at
31 December 2016, boosted by the
acquisition of UGL, and a robust
project pipeline.
We were successful in light and
heavy rail, winning the Gold Coast
Light Rail Stage Two in Queensland,
the Canberra Light Rail Stage One
in the Australian Capital Territory
(a PPP project), and the removal of
certain level crossings in Victoria.
Our other civil contract wins included
the design and construction of an
extension of the Roe Highway in
2016 was an important year for CIMIC Group,
one in which we built on the solid foundation
established during the transformation of
our businesses in 2014 and 2015.
Chief Executive Officer’s review
Adolfo Valderas
Chief Executive Officer
500
300
100
0
FY15
FY16
600
400
200
580.3
520.4
NPAT A$m
Work in hand A$m
29,084.9
35,000
25,000
15,000
5,000
0
3M16
9M16
6M16
FY16
30,000
20,000
10,000
29,555.3
29,009.3
34,012 (Including UGL)
For footnotes refer to
Operating and Financial Review.
