Serco shares drop 10% after losing major Australian immigration contract renewal [Yahoo! Finance]
Embraer S.A. (ERJ)
Last embraer s.a. earnings: 3/26 06:00 am
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Source: Yahoo! Finance
The contract, valued at £165 million annually, has generated around £18 million, or 6% of Serco's EBITA, and has been an integral component of the company's regional portfolio since 2009. ‘ This contract, set to conclude by December 2024, will begin winding down in the 2025 fiscal year, resulting in a gradual revenue decline as the company transitions its responsibilities to a new provider over a maximum period of 180 days. “We calculate a potential c£15m (5% group) hit to EBITA in FY25 and potentially similar level in FY26, dependent on offsets,” said analysts at Jefferies in a note. Losing this Australian contract deals a big blow, not only in terms of revenue but also in terms of margin stability. With an estimated EBITA margin of 10.9% on the contract, this loss removes a relatively high-margin income source for Serco, compared to its group average margin of around 5%. “No feedback on reason for loss as yet. Contract is both sensitive and difficult to operate, and so Se
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ERJ
Earnings
- 11/11/24 - Beat
ERJ
Sec Filings
- 11/8/24 - Form 6-K
- 11/8/24 - Form 6-K
- 10/25/24 - Form SC
- ERJ's page on the SEC website