Downer awarded $900M in energy, utilities works across Australasia. Reading Time: 3 mins read Downer has been awarded water and power contract renewals and extensions across Australia and New Zealand valued at more than $900 million it announced this week. Chief Executive Officer, Peter Tompkins, said the contracts highlight the strength of Downer's Energy & Utilities business and reinforce its growing pipeline of opportunities, with sustained demand from utility asset owners for Downer's specialist capabilities. "We are pleased to secure these important contracts, which reflect trust in Downer's industry-leading expertise, and we anticipate further contract award announcements in coming months," Tompkins said in statement. The biggest is in New Zealand for Watercare Services Limited. Downer has secured a contract renewal with the utility to deliver proactive and reactive maintenance across Auckland's northern water and wastewater network, valued at an estimated $378 million for a maximum term of 10 years. The renewal will commence in October 2026, for an initial five-year term plus extension options. Under the contract, Downer will deliver reactive and scheduled maintenance, emergency response, inspections, reporting, asset renewals and data management. Downer is the largest provider of complete water lifecycle solutions for municipal and industrial water users, supporting more than 14 million people across Australia and New Zealand. Tompkins said the contract reflects Downer's strong performance delivering water and wastewater services for Watercare for over more than a decade. "We look forward to extending our partnership with Watercare, where we will continue to focus on delivering value, transparency, safety, and positive long-term outcomes for customers and communities," he said. Downer has also secured a two-year contract extension with Logan City Council to deliver water and wastewater infrastructure services, valued at approximately $320 million. Under the extension, Downer will continue its partnership with Council through the Logan Water Infrastructure Program Alliance, delivering planning, design, delivery and program management services across water, sewerage and treatment assets in Queensland. The extension commences on 1 July 2027. Downer has been awarded a contract with Invercargill City Council (ICC) in New Zealand to deliver reticulation operations and maintenance across its water, wastewater and stormwater networks, valued at up to $108 million over a maximum term of 15 years. The contract comprises an initial five-year term, plus extension options. The operations and maintenance component, valued at approximately NZ$45 million over the full term, is secured under the agreement. In addition, capital renewal works with a total value of up to NZ$75 million may be delivered through the contract, at the discretion of ICC. Downer has also been awarded a five-year delivery services panel contract with Vector to deliver electrical capital works across the Auckland energy infrastructure network. Work volumes are subject to project allocation under a three-member panel, with Downer expecting to generate approximately NZ$150 million (~A$135 million) in revenue. The panel will support Vector, New Zealand's largest energy distribution business, with ongoing network augmentation, renewal and upgrade projects - with works including asset installation and replacement, overhead and underground works, substations, testing and commissioning, outage planning, traffic management and delivery management. Downer said the appointment reflects its strong performance on the network over the past seven years, helping Vector deliver a safer, more reliable and affordable energy system for its communities.

Vector revenue rises 12% to $1b as Auckland network investment hits record $512m. Tue, 18 Aug 2026 0 Comments (Image: Supplied) Auckland community-owned energy distributor Vector Group has reported a bumper $240 million profit in its 2026 full-year financial results.Vector, New Zealand's largest electricity and gas distributor with networks spanning Auckland, said full-year revenue excluding capital contributions lifted 12% to $1 billion.Gross capital expenditure lifted 16% to $544m, with $191m of capital contributions recognised in the year.Adjusted earnings before interest, tax, depreciation and amortisation (ebitda), which excludes capital contributions, was up... * Deeply researched, twice-edited and fact-checked news * Annual subscribers also receive a complimentary subscription to The Wall Street Journal * Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers Minimum password length of 8 characters. Require at least one upper and lowercase, numeric, and special character. Annual - including full access to The Wall Street Journal $349.00 Monthly $44.00 All subscriptions auto renew but are easy to cancel. Not convinced yet? The NZX 50 was up 1.05% as Mercury reported and A2 thrived. The court heard 14 Jarden staff left and another 17 were targeted. Her lawyer says she wants her suspension overturned and her role restored. The critical pipeline supports more than 10% of New Zealand's fuel supply. Inside the discipline behind three decades of growth. First Mortgage Trust As more than a dozen companies prepare to report to investors this week, BusinessDesk takes a look at the previous week's earnings. Week two saw full-year reporting from Contact Energy, ASB Bank, Vital Healthcare Property, and PGG Wrightson, each of which offered insights into the state of the local and international economies. Analysts aren't expe Sapeer Mayron 17 Aug 2026 ASB has posted a lower annual after-tax profit, with its $135.6 million class action settlement seeing operating expenses rise amid a year with uneven economic forces. The bank posted a net profit after tax of $1.4 billion for the year to June 30, down from $1.45b a year earlier. This was achieved on net interest income of $3.3b, from $3.1b. Net i Andy Macdonald 12 Aug 2026 Milford Funds has posted an almost one-third hike in its annual after-tax profit and revenue, in what was a challenging and volatile year for investors. The company, whose sole shareholder is Milford Asset Management, posted an after-tax profit up 30.9% to $22.1 million in the year to end-March, from $16.9m. Milford Asset Management chief executive Andy Macdonald 28 Jul 2026 Mainland Capital and Russell Property Group's acquisition of $74.5 million of central Auckland commercial property from SkyCity Entertainment reflects the joint venture's confidence in the area. It also showed the store the companies placed in the recovery of what is now New Zealand's first city. The properties are SkyCity Entertainment's 99 Albert Andy Macdonald 17 Jul 2026 Swissport's newly separated executive-aviation business has chosen a New Zealand investor and Auckland as the base for a planned expansion across Australia, New Zealand and the Pacific. Swissport's PrivatPort has announced a joint venture with SO Capital, the owner of Air Napier, to build a regional network of fixed-base operators (FBOs) and other Staff reporters 14 Jul 2026 Time yet for a hundred indecisions, and for a hundred visions and revisions Act's plan for a reshaped public sector is the New Zealand Initiative's critique of tangled government turned into a political blueprint. The problem definition is familiar. NZ has too many ministers, too many portfolios and too many departments. Responsibility is spread s Ian Llewellyn 01 Jul 2026 Commercial landlord and developer Precinct Properties says it has agreed to sell a half share in its PwC tower in downtown Auckland and form a new investment partnership with global investor PAG. The deal, valued at $600 million, will see Precinct retain ownership of a significant stake in the building while also being the investment and asset mana NZ Herald 16 Jun 2026 SBS Bank says it plans to grow its capital-consuming businesses over the short to medium term, underscoring this appetite by indicating an intent to streamline its total capital stack. "We're in a good space from a capital perspective," SBS group chief executive Mark McLean said, noting the Invercargill-headquartered bank's total capital ratio of 1 Andy Macdonald 08 Jun 2026 The 2026 Budget will put a $6.8 billion capital package towards a Waikato expressway extension and road resilience, "fully-funded" rail freight network upgrades, a hospital tower in Whangārei, naval warship improvements, and more than 200 classrooms. The capital package, arguably the centrepiece of a Budget that was light on operating spending, was Thomas Manch 28 May 2026 Investore's annual profit has fallen more than 17% as the prior year's net gains in investment property values failed to rematerialise, although the diversified landlord maintained its total dividend for the period. Investore's full-year after-tax profit was $31.7 million, down 17.3% from $37.5m a year earlier, while gains on investment properties Andy Macdonald 21 May 2026

Vector Limited: energy Network Investment and digital transformation shape the next growth phase. 11 August 2026 11:44 PM NZST Summarize with AI You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to its research reports, in-depth technical and fundamental research. Learn more Highlights * Vector reported 1H FY26 adjusted EBITDA from continuing operations of NZ$240 million, up 19% year-on-year, while net profit after tax from continuing operations was NZ$113 million. * The company continued investing in electricity network reliability, with gross Capital Expenditure of NZ$223 million during the first half of FY26. * Vector progressed its Symphony strategy, focusing on smart energy solutions, digital network capability and supporting Auckland's transition towards a more distributed energy system. Vector Limited (NZX:VCT) is continuing its transformation from a traditional electricity network operator into a broader energy infrastructure company focused on grid Investment, digital capability and the transition towards a more flexible energy system. The company owns and operates Auckland's electricity distribution network, providing energy and communication services to residential and commercial customers. Vector's strategy is centred around maintaining network reliability, investing in infrastructure capacity and developing technologies that support changing energy Demand patterns. Electricity Network Remains Core Business Vector's electricity distribution network remains the foundation of its operations. The company manages one of New Zealand's largest electricity networks, supplying energy infrastructure across Auckland and surrounding areas. Investment into network reliability, resilience and capacity has remained a key focus as electricity demand changes due to population growth, electrification and increasing adoption of technologies such as electric vehicles and distributed energy resources. Vector continues allocating capital towards network upgrades, asset replacement programmes and technology improvements to support long-term electricity demand. FY26 Performance Reflects Network Investment Vector reported adjusted EBITDA from continuing operations of NZ$240 million for the six months ended 31 December 2025, representing a 19% increase compared with the prior corresponding period. Group net profit after tax from continuing operations was NZ$113 million during the period. The company invested NZ$223 million in gross capital expenditure during the first half of FY26, reflecting continued spending on electricity infrastructure and operational capability. Vector also maintained its Dividend policy, declaring an Interim Dividend of 12.5 cents per share. The company's financial performance continues to be supported by regulated electricity network operations, providing relatively stable Revenue characteristics. Symphony Strategy Supports Energy Transition Vector's Symphony strategy is focused on creating a more customer-focused and digitally enabled energy system. The strategy addresses changes occurring across the electricity sector, including renewable energy integration, increasing electricity demand and greater customer participation in energy management. The company is investing in technologies that allow improved visibility and management of electricity flows across the network. These developments are designed to support a future energy system where customers can generate, store and manage energy more actively. Digital Technology and Smart Grid Development Digital infrastructure has become an increasingly important part of Vector's operations. The company has continued developing data-driven tools to improve asset management, network monitoring and operational decision-making. Technology initiatives include the use of advanced analytics, automation and digital platforms to improve network planning and maintenance. Vector is also exploring solutions that support distributed energy resources, including solar generation, batteries and electric vehicle charging infrastructure. The development of smarter networks is expected to become increasingly important as electricity consumption patterns evolve. Vector has continued reviewing its wider portfolio to focus on businesses aligned with its strategic priorities. The company completed a review of its fibre business during 2026 as part of its broader approach to capital allocation and portfolio management. Vector continues assessing opportunities to improve operational efficiency and ensure investment remains focused on areas supporting its long-term energy strategy. The company's approach includes balancing infrastructure investment with maintaining financial flexibility. Supporting Auckland's Growing Energy Demand Auckland's population growth and increasing electrification are key factors influencing Vector's investment requirements. The transition towards electric vehicles, increased use of electricity for heating and broader decarbonisation trends are expected to influence future electricity demand. Vector continues planning network capacity requirements to support these changes. The company is also focused on maintaining reliability during periods of higher demand and integrating new energy technologies into the existing network. Sustainability and Emissions Reduction Vector continues implementing sustainability initiatives across its operations. The company has focused on reducing emissions, improving operational efficiency and supporting the transition towards lower-carbon energy systems. Technology deployment, network optimisation and renewable energy integration form part of the company's broader sustainability approach. Vector's role within New Zealand's energy infrastructure places it at the centre of changes occurring across the electricity sector. Outlook for Vector Vector enters the next phase focused on electricity network investment, digital transformation and supporting New Zealand's changing energy requirements. Key areas to monitor include capital expenditure programmes, regulatory settings, electricity demand growth, smart energy adoption and progress under the Symphony strategy. The company's future performance will depend on effective management of infrastructure investment, operational efficiency and successful execution of energy transition initiatives. With its established electricity network and focus on technology-led energy solutions, Vector continues developing its role within New Zealand's evolving energy infrastructure landscape. FAQs. Q: what does Vector operate? A: Vector operates Auckland's electricity distribution network and provides energy and communication services across New Zealand. Q: what is Vector's Symphony strategy? A: Symphony is Vector's strategy focused on developing a more flexible, digital and customer-focused energy system. Q: What are Vector's key growth areas? A: Key growth areas include electricity network investment, smart energy solutions, digital infrastructure and supporting energy transition. Download Free Report - Explore 3 Stock Ideas & Industry Insights Unlock 3 stock ideas and key industry insights in its free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice. 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