Extension of Defence Base Services Contract
| Stock | Ventia Services Group Ltd (VNT.ASX) |
|---|---|
| Release Time | 31 Mar 2025, 9:53 a.m. |
| Price Sensitive | Yes |
Ventia extends Defence Base Services Contract
- 7-month contract extension with Department of Defence
- Contracted revenue of approximately $270 million
- Ventia to continue providing estate management, living services and base support capability
Ventia Services Group Ltd has announced that it has signed an extension of the Defence Base Services contract with the Department of Defence for a 7-month period commencing on 1 July 2025 and ending on 31 January 2026. The contracted revenue for this extension is approximately $270 million. Under the extended contract, Ventia will continue to provide a range of estate management, living services and base support capability, including the Firefighting Services contract that was awarded to Ventia in July 2024. Ventia's Chief Executive Officer and Managing Director, Dean Banks, stated that Ventia is a sovereign, trusted and experienced Defence industry partner, having proudly supported the Defence sector for 35 years. He added that Ventia's teams continue to uphold their commitment to delivering service excellence to over 90,000 service personnel on 70 bases across Australia. The announcement also noted that the Base Services Transformation tender process is ongoing, and Ventia is awaiting the outcome, which is expected this calendar year.
The 7-month contract extension with the Department of Defence is expected to generate approximately $270 million in revenue.