Monadelphous Group Limited (ASX: $MND) receives contract termination notification

Monadelphous Group Limited (ASX: $MND) has received notification from Albemarle regarding the termination of the Company's contracts at Albemarle's Kemerton Project in Western Australia. The termination, due to Albemarle's comprehensive review of its asset and cost structure, is estimated to impact Monadelphous' revenue and reduce its current construction work-in-hand by approximately $200m.

Executive Commentary on Albemarle Contracts Termination

The termination of our contracts at Albemarle's Kemerton Project is regrettable. We were contracted to construct the front-end pyromet works and a multidisciplinary package for the utilities and reagents scope. The termination will have a significant impact on our revenue and construction work-in-hand. We are currently assessing the implications and exploring alternative opportunities to mitigate the impact of this termination on our business.

Summary of Albemarle Contracts Termination and Outlook

Monadelphous Group Limited (ASX: $MND) has been notified of the termination of its contracts at Albemarle's Kemerton Project, impacting the Company's revenue and reducing its current construction work-in-hand. The termination follows Albemarle's comprehensive review of its asset and cost structure. Monadelphous is assessing the implications and seeking alternative opportunities to mitigate the impact of this termination. The Company's outlook will depend on its ability to secure new contracts and projects to offset the impact of the terminated contracts at Albemarle's Kemerton Project.