McConnell Dowell is a major engineering, construction, and maintenance contractor, delivering complex projects in the building, infrastructure and resources sectors in Australia, New Zealand and Pacific Islands, Southeast Asia, and the Middle East.
McConnell Dowell has been reset to be more nimble, flexible, and responsive to the market and customers, and is well positioned to take advantage of emerging market opportunities.
2016 salient features
- Restructuring completed – Senior management changes – Flat structure focuses on delivery and predictability
- Business cost base aligned with lower revenue
- Overheads down by 18% in 2016
- More selective pipeline and tender management
- Negative cash flow in 2016 impacted by QCLNG advance repayment, restructuring costs and increase in net working capital
- Order book increased by 22% with an improved embedded margin
- Strong performance in Southeast Asia and New Zealand and Pacific