Ventia shares gain 5% on contract wins
Make us a preferred source
Make us a preferred source on Google
More news: Ventia’s share price has soared in afternoon trade after the infrastructure services provider announced a $100 million contract extension with the City of Sydney on Friday and a $2.7 billion contract with the Department of Defence on Thursday.
At 1:51pm AEST, shares in Ventia were up 5.2% to $5.29.
Following the Defence contract announcement, Macquarie analysts on Thursday had reiterated their ‘outperform’ rating on the stock and target price of $5.55.
Even though the contract meant Ventia would no longer provide property and asset services to Defence in the Northern Territory and South Australia, the loss of region was “not unexpected and a known risk”, according to the Macquarie analysts.
Ventia lands $100m City of Sydney contract extension
The news: Infrastructure services provider Ventia has secured a $100 million extension of its facility management agreement with the City of Sydney for several assets including heritage-listed buildings like Sydney Town Hall and Customs House.
The numbers: The contract extension will run over two years commencing on 22 January 2026.
Ventia first began providing integrated facilities management services across 251 City of Sydney-owned assets in April 2018.
The context: The scope of services provided include hard and soft facilities management, project works, cleaning, maintenance and strategic asset management.
What they said: “We’re proud to continue our partnership with the City of Sydney, leveraging smart data and enhanced visibility to drive more informed decision-making,” Ventia managing director and group CEO Dean Banks said.
The sources: ASX, Macquarie research
