Downer EDI Ltd (ASX:DOW)

A$ 5.69 0.03 (0.53%) Market Cap: 3.80 Bil Enterprise Value: 4.75 Bil PE Ratio: 55.24 PB Ratio: 1.83 GF Score: 70/100

Downer EDI Ltd Trading Update Transcript

Dec 08, 2022 / 12:00AM GMT

Release Date Price: A$3.82 (-20.42%)

Transcript

Operator

Thank you for standing by, and welcome to the Downer EDI market update. (Operator Instructions) I'd now like to hand the conference over to Mr. Grant Fenn, CEO. Please go ahead.

Grant Anthony Fenn

Downer EDI Limited - MD, CEO & Director

Good morning, and thank you for joining the call. With me this morning, I've got Michael Ferguson, our CFO; and I guess I'd call it CEO elect Peter Tompkins; and also Vivian Tam, who is the Deputy CFO. This morning, we announced that we had discovered misreporting of historical contract performance in one of our utilities maintenance contracts. And we updated earnings guidance following our review of trading in November and our latest full year forecast updates from the business unit.

What I'm going to do this morning is I'll just give a quick summary of the accounting irregularities first. And then when I've done that, I'll hand back to the coordinator, and we'll take questions on that issue before we move to the updated guidance. So once those questions are finished, I will then come back on and I'll talk briefly

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