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Backgrounder to Media Release

18 February 2008

BACKGROUNDER TO MEDIA RELEASE: OPUS INTERNATIONAL CONSULTANTS LIMITED (OPUS)

The company

Opus International Consultants Limited (Opus) is New Zealand’s largest international infrastructure, maintenance and design consultancy business.

Opus was established in 1885 as part of the former Ministry of Works and privatised in 1996. It is a leading provider of civil and structural engineering, architectural design, environmental planning, property and infrastructure management, and water related services. Opus also provides mechanical and electrical engineering services, surveying, landscape architecture and heritage planning.

Opus has grown from a New Zealand based company with a limited international presence to a global consultancy in Australia, Canada the United Kingdom.

It operates from 71 offices and 11 laboratories and employs more than 2,000 people internationally.

Financial highlights

  • A 17.4% increase in revenue, exceeding forecast by $15.4 million, or 5.5%.
  • Total revenue of $296 million.
  • A net surplus after tax of $14.2 million – an increase of 6.5% since 2006.
  • A final dividend to shareholders of 4.5 cents per share
  • A 6.2% increase in Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) to $23.8m, exceeding forecast by 3%

Our growth in 2007 is reflected in our financial statistics.

Over the past five years, revenue has almost doubled from $149.7 in 2003 to $296.3m in 2007 (refer Fig. 1), while net surplus after tax has risen from $1.6m in 2003 to $14.2m in 2007 (refer Fig. 2).

 

Fig 1: Revenue (NZ$m)
Fig 2: Net Surplus after tax (NZ$m)

As Fig 3 shows, Central Government bodies (including Transit New Zealand) and Local Authorities continue to comprise a significant proportion of our revenue.

 

Fig3: Revenue by client group (NZ$m)

 

As the table below shows, Opus’ New Zealand revenue has increased by approximately 70% since 2003. In Australia, Canada and the United Kingdom, our revenue has also increased significantly over the same period as Opus continue to experience solid growth in these countries. 

  

 

2007 highlights

Key highlights for Opus this year include:

  • Developing the Infrastructure Asset Management Framework for the Ontario Ministry of Public Infrastructure Renewal (Canada).
  • Being appointed to a number of New Zealand railway projects including Developing Auckland’s Rail Transport (DART) and the design of the new Newmarket Railway Station (New Zealand).
  • Being appointed for the engineering design of a cruise liner terminal at Southhampton (UK).
  • Being awarded the civil and structural consulting work for the new $940 million Sunshine Coast Hospital and Queensland Institute of Medical Research Centre (Australia).
  • Ongoing national contracts for asset managements of buildings and infrastructure for large companies like Transpower and Telecom.
  • In addition, Opus has worked on some of New Zealand’s most prominent infrastructure projects including:
  • The Wellington Inner City Bypass
  • The Auckland Britomart Transportation Centre
  • The Te Apiti Wind Farm
  • The University of Otago Information Services Building
  • Taihape’s Hihitahi realignment of State Highway One

The company is also involved in leading a number of high profile international projects including a seven year project upgrading the Piccadilly underground rail line in London and the structural / civil design for a new section of underground rail line in Sydney.

In Canada, Opus is also involved in the 100 kilometre Sea-to-Sky Highway in British Columbia, which is being constructed for the 2010 winter Olympics.

Awards

Opus was awarded a number of professional and community awards in 2007 including eight different architectural awards, the 2007 Infrastructure Award and Supreme Award from the New Zealand Concrete Society for the Wellington Inner City Bypass, the Shell Bitumen Roading Excellence Award and the New Zealand Planning Institute’s Best Project Award.  In 2006 Opus was awarded Service Exporter of the Year and the overall Supreme Exporter of the Year at the New Zealand Trade and Enterprise Awards.

 

Click here for PDF of media release backgrounder.