New Contracts

Open PDF
Stock Mayfield Group Holdings Ltd (MYG.ASX)
Release Time 28 Jan 2025, 8:24 a.m.
Price Sensitive Yes
 Mayfield Secures Significant Renewable and Mining Contracts
Key Points
  • $20 million contract for CWO Renewable Energy Zone
  • Additional $15 million in new contracts across data, mining, and telecommunications
  • Total work-in-hand increased to $96 million through 2028
Full Summary

Mayfield Group Holdings Limited (Mayfield) has announced the successful award of a significant contract within the renewable, data, and mining sectors, along with a continuing buildup of the total work-in-hand for the 2025 and 2026 financial years. The company's subsidiary, Mayfield Industries Pty Ltd, will manage these contracts, which represent a substantial step forward in Mayfield's growth and commitment to delivering excellence in electrical infrastructure to support Australia's electrification and digitisation journey. The $20 million contract is for the supply and installation of 26 Prefabricated Protection Buildings for the Central West Orana Renewable Energy Zone (CWO REZ), which will connect new renewable generation and storage facilities to the National Electricity Market. Design will commence in January 2025, with construction from Q4 2025 through to Q2 2027. Additionally, Mayfield has secured approximately $15 million in other new contracts, including the supply of switchboards to NextDC for the M2 Data Centre, expansion of port and mining operations for mining companies, and a Telecommunication Relocation contract for the Lotus Creek Wind Farm for CS Energy. The CWO REZ contract, along with the other contracts secured in recent months, has increased Mayfield's total work-in-hand to $96 million stretching into the 2028 financial year. The company remains confident in its prospects and is committed to its Australian manufacturing and technology application strategies.

Guidance

The CWO REZ contract and other new contracts have increased Mayfield's total work-in-hand to $96 million stretching into the 2028 financial year.

Outlook

Mayfield remains confident in its prospects and is committed to its Australian manufacturing and technology application strategies.