McConnell Dowell 2019 Annual Review

30 McConnell Dowell Group Active Projects — Stanley Street outfall, North Island — Pukekohe Waste Water Treatment Plant, North Island — Snells Algies outfall, North Island — Wynyard Edge Alliance, North Island — City Rail Link C2, North Island — Hunua 4, North Island — Christchurch Southern Motorway Stage 2, South Island — Port Nelson, South Island — St Mary’s Outfall, North Island — Puhinui Interchange, North Island — Westland Milk Ocean Outfall, South Island — Waterview Tunnel Joint Operations, North Island — Te Mato Vai, Pacific Islands — Pago Pago Airport Apron, Pacific Islands The revenue of the New Zealand and the Pacific Islands operations increased by 22% to AUD211.6 million as new projects were awarded, including the Pukekohe Wastewater Treatment Plant. A significant win was securing the Wynyard Edge Alliance project to construct infrastructure for the 2021 Americas Cup in Auckland. These wins contributed to a solid baseload of work. The business unit also secured repeat work for Watercare following the successful completion of the client’s Mangere BNR project. Targeting growth opportunities in strategic areas where McConnell Dowell has a record of sound operational performance has enabled the business unit to return to profitability. Despite some difficulties with the CSM2 project near Christchurch, renegotiation of the contract in July 2019 has mitigated associated cost risk. With 70% of revenue secured for 2020, New Zealand and the Pacific Islands operations are well positioned for the year ahead, despite ongoing delays in the award of public sector projects. New Zealand & Pacific Islands Business Units