Update on sale of non-core businesses

Downer’s Urban Services strategy aims to create a stronger platform for long-term, sustainable growth by focusing on capital light, lower risk services that deliver more predictable revenues, earnings and cash flows.

 

A key step in this strategy is to divest non-core capital-intensive businesses. Over the past few months, we have made significant progress in this space. 

Since November 2020, Downer has sold a number of non-core businesses, with total proceeds of $526 million received from sales to date.

“An important part of our Urban Services strategy is to exit our capital-intensive Mining and Laundries businesses,” Downer CEO, Grant Fenn, said.

“We remain in active discussions with a number of interested parties in relation to Open Cut Mining East and the Otraco tyre management business.”