Key points
- Saipem Clough Joint Venture exercises option for additional accommodation at Searipple Village
- Contracted room nights for FY25 increase to 80% from previously announced 72%
- Expected to deliver approximately AU$6.0 million of additional revenue
Full summary
Fleetwood Limited (ASX: FWD) has announced that the Saipem Clough Joint Venture (SCJV) has exercised its option for additional accommodation at the Searipple Village in Karratha. Under the accommodation agreement, SCJV has secured the supply of additional rooms for the period up to May 2025 on a take or pay basis. These additional rooms contracted by SCJV, along with those secured through other third-party agreements during this period, will increase the forecasted contracted room nights for Searipple Village for FY25 to 80%, up from the previously announced 72%. This is expected to deliver approximately AU$6.0 million of additional revenue. Fleetwood expects that this will result in a further uplift in earnings in FY25. More detail will be provided on 28th February 2025 with the release of its Half Year Results for the period ended 31 December 2024.
Guidance
The additional rooms contracted by SCJV, along with those secured through other third-party agreements, are expected to deliver approximately AU$6.0 million of additional revenue in FY25.