2021 in Review

BESIX Watpac has released its annual review reflecting on construction activity in 2021, several iconic project wins and a profitable balance sheet.

In 2021 the company won more than eight Master Builder Awards, was announced as the lead contractor for Kangaroo Point Green Bridge, Te Kaha Multi-use Stadium and Sydney Metro Barangaroo Station and delivered a consolidated profit before tax of $3.5m.

CEO Mark Baker said the results from 2021 were testimony to the strength of the business and the successful partnership with the BESIX Group.

“In the 2021 reporting period, the company was impacted by unprecedented cost escalation and supply disruptions, but still delivered a profitable result and finished the year with $316m in cash and deposits and $129m in net assets.

“This profit and our robust balance sheet are testament to the quality of our people and our delivery teams, and a product of prudent financial management.”

Focusing on the year ahead, Mr Baker said with the global economy slowing and inflation rising, 2022 would continue to be challenging for the construction sector.

“Our strategy is to carefully plan our works, increase and support local production and capacity, and find innovative and efficient ways to work together with our clients, subcontractors and partners to deliver our projects.

“With a people-led focus on operational excellence, we will continue to provide our clients with delivery certainty and make a meaningful difference in what we do.”

Mr Baker said together with BESIX Group, in 2022 BESIX Watpac would continue to redefine what’s possible and deliver outstanding outcomes across Australia and New Zealand.