Coffey announces outcomes of strategic review

8 June 2011

• Business portfolio restructured to focus on core competencies and markets
• New, flat, simplified management structure driving earnings accountability and organisational stability
• Expected FY11 underlying EBITDA of $29 million - $32 million
• Non-cash impairment charges of $60 million - $65 million to be recognised in FY11 result
• One-off restructure costs of $10 million - $12 million to be recognised in FY11 result
• Expected FY11 EBITDA loss of $38 million - $48 million including impairments and one-off restructuring costs
• Coffey now well placed for earnings turnaround - FY12 EBITDA expected to be at least $45 million
• Banking facilities and financial undertakings re-confirmed to 2014