Civeo Announces a 5-Year Integrated Services Contract Renewal with Expanded Scope in Australia
15 Novembro 2022 - 6:30PM
Business Wire
Civeo Corporation (NYSE: CVEO) today announced that it was
awarded a five-year contract with a leading resources player to
provide integrated services at six villages in Western Australia.
Civeo was previously contracted to provide integrated services at
four of the villages. The new contract took effect October 01, 2022
and includes options to extend the agreement by up to two
years.
The new contract will incorporate accommodation, catering, and
retail services; village, mine, and port site cleaning services;
facilities maintenance; and the provision of health and wellbeing
solutions.
It is anticipated the initial five-year commitment will generate
approximately A$600m in revenues over 2022-2027. This contract was
already contemplated in Civeo’s full year 2022 consolidated,
adjusted EBITDA guidance of US$110 - $115 million communicated on
its third quarter 2022 earnings conference call.
“This contract renewal reaffirms the strength of Civeo’s
customer relationships and the high quality of our hospitality
services. We are excited to grow our integrated services business
by providing services to two additional villages. We look forward
to capitalizing on further opportunities to grow as we maintain our
commitment to top-tier service for all our customers,” said Peter
McCann, Civeo’s Managing Director & Senior Vice President,
Australia.
About Civeo
Civeo Corporation is a leading provider of hospitality services
with prominent market positions in the Canadian oil sands and the
Australian natural resource regions. Civeo offers comprehensive
solutions for lodging hundreds or thousands of workers with its
long-term and temporary accommodations and provides food services,
housekeeping, facility management, laundry, water and wastewater
treatment, power generation, communications systems, security and
logistics services. Civeo currently operates a total of 27 lodges
and villages in Canada, Australia and the U.S., with an aggregate
of over 28,000 rooms. Civeo is publicly traded under the symbol
CVEO on the New York Stock Exchange. For more information, please
visit Civeo's website at www.civeo.com.
Forward Looking Statements
Statements included in this release regarding this contract
award, the expected benefits and contracted revenue visibility and
other statements that are not historical facts, are forward-looking
statements (including within the meaning of Section 21E of the
Securities Exchange Act of 1934 and Section 27A of the Securities
Act of 1933). Forward-looking statements include words or phrases
such as "anticipate," "believe," "contemplate," "estimate,"
"expect," "intend," "plan," "project," "could," "may," "might,"
"should," "will" and words and phrases of similar import. The
forward-looking statements included herein are based on current
expectations and entail various risks and uncertainties that could
cause actual results to differ materially from those expressed or
implied by these forward-looking statements. Risks and
uncertainties with respect to forward-looking statements included
herein include, among other things, risks associated with the
ability of Civeo to implement its plans, forecasts and other
expectations with respect to this contract, risks associated with
the general nature of the accommodations industry (including lower
than expected room requirements), risks associated with the level
of supply and demand for oil, coal, natural gas, iron ore and other
minerals, including the level of demand for coal and other natural
resources from Australia, and fluctuations in the current and
future prices of oil, coal, natural gas, iron ore and other
minerals, risks associated with currency exchange rates, risks
associated with the development of new projects, including whether
such projects will continue in the future, and other factors
discussed in the "Management's Discussion and Analysis of Financial
Condition and Results of Operations" and "Risk Factors" sections of
Civeo's annual report on Form 10-K for the year ended December 31,
2021 and other reports Civeo may file from time to time with the
U.S. Securities and Exchange Commission. Each forward-looking
statement contained in this release speaks only as of the date of
this release. Except as required by law, Civeo expressly disclaims
any intention or obligation to revise or update any forward-looking
statements, whether as a result of new information, future events
or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20221115006198/en/
Regan Nielsen Civeo Corporation Senior Director, Corporate
Development & Investor Relations 713-510-2400
Civeo (NYSE:CVEO)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024
Civeo (NYSE:CVEO)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024