FY23 Guidance achieved, non-cash impairment charge

Thu, 03 Aug 2023

Downer EDI Limited (Downer) has achieved its guidance for the financial year ended 30 June 2023, with underlying NPATA of approximately $174 million.

The company expects to report a statutory NPAT loss of approximately $386 million, including a non-cash, pre-tax impairment charge of $549.6 million.

The impairment charge is mainly related to goodwill impairments for the Facilities and Utilities Cash Generating Units, with other asset impairments of $66.6 million and other individually significant items (net, pre-tax) of $1.1 million.

The CEO of Downer, Peter Tompkins, said the company is undergoing a period of significant and necessary organisational change, and is making strong progress in its transformation program.