FinTechFunding

Austal: Buys BSE Maritime Group for $27.5M

  • Global shipbuilder Austal (ASB) has signed to buy ship repairers BSE Maritime Group for $27.5 million
  • The purchase is in line with Austal’s strategy of continuing to build the company’s key support business
  • Revenue from Austal’s support business has grown at an annual rate of 28 per cent over the past four years
  • Austal is expecting the new business to bring in earnings before interest, taxes, depreciation, and amortisation (EBITDA) of $5 million in 2021
  • This figure is expected to rise to $11 million by 2025
  • On the market this afternoon, Austal is down 0.63 per cent and trading for $3.17 per share
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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