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CIMIC Group Executive Chairman expects a 2019 performance of $790m million $840 million.
Chairman Marcelino Fernández Verdes also expressed a strong return to shareholders.
“CIMIC performed well during 2018, reaching the top end of our profit guidance range and substantially increasing cash flow and net cash,” said Verdes.
Verdes also revealed a partnership between CIMIC and companies Hochtief and ACS. Hochtief is a German construction company and ACS is a Spanish engineering Group.
The partnership company, named Nexplore, aims to create a digital makeover for CIMIC’s operations around the globe.
Nexplore has already established digital innovation and development centres in Frankfurt and Minneapolis.
Further centres in Sydney and Madrid are planned for this year.
“Together, through Nexplore, these three companies will systematically realise the opportunities offered by new and emerging technologies, working as a digital transformation incubator and accelerator.
“We’ll develop solutions that optimise our operations, build new business models, and assist us to shape the future for our activities,” said Verdes.
Earlier this year, CIMIC was awarded a contract by the Queensland Government for a $5.4 billion rail system project.
Profits for CIMIC between 2017 and 2018 were an 11 percent increase.
“We are well positioned for the future, with strong teams of committed, talented and passionate people, leveraging the unique offering we have in our markets.
“We bring discipline and innovation to drive sustainable outcomes that benefit our clients, our people and our shareholders, ” CIMIC CEO, Mr. Wright said.
