Downer secures major Chevron contract, updates on AGM and buy-back

Downer EDI Limited announced a A$750 million contract with Chevron Australia for maintenance and support services, with an initial 10-year term and a five-year extension option, commencing January 2026. This contract involves non-process infrastructure assets at Chevron's Wheatstone and Gorgon facilities. The company also confirmed its Annual General Meeting (AGM) for November 11, 2025, where key board re-elections and resolutions, including the Remuneration Report and the managing director's long-term incentive, were approved by a significant majority of voted shares.

Additionally, Downer continued its on-market share buy-back program, which began on September 16, 2025, and is set to conclude on June 30, 2026. As of November 17, 2025, the company had bought back a total of 4,852,988 securities, with 171,403 securities bought back on November 14, 2025. The highest price paid on that day was A$7.91, and the total consideration for the buy-back amounted to A$36,334,058.38.

The buy-back program aims to acquire a maximum of 33,578,684 securities, with 28,554,293 remaining to be bought back as of November 14, 2025, indicating ongoing efforts to return value to shareholders. The company's chairman noted strong financial performance, including improved EBITA margin and underlying NPATA, and enhanced risk management practices, reinforcing a positive outlook for FY26.