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Australia-based Maas Group has raised its annual earnings forecast after securing a major order worth AUD 855 million from AI infrastructure company Firmus. The deal, signed under an existing Master Services Agreement, involves supplying modular electrical infrastructure and has also prompted the company to increase its investment in Firmus. Maas will invest an additional AUD 300 million, taking its stake in the Nvidia-backed company to 3.2%. The company said the investment aligns with its long-term strategy of expanding its presence in digital infrastructure while strengthening future earnings.
Australia-based real estate and construction company Maas Group has increased its full-year earnings guidance after securing an AUD 855 million order from AI infrastructure company Firmus under an existing Master Services Agreement. The announcement, made on Tuesday, also included plans to expand its investment in the Nvidia-backed company, leading to a sharp rise in Maas Group's share price of nearly 9%.
As part of the expanded partnership, Maas Group will invest an additional AUD 300 million, equivalent to around USD 210.42 million, in Firmus through ordinary and preference shares priced at AUD 230 each. Following the investment, Maas Group's holding in Firmus will increase to 3.2%.
The company also revised its full-year underlying operating earnings forecast to between AUD 300 million and AUD 310 million, compared with its earlier guidance of AUD 250 million to AUD 280 million.
The improved outlook comes after Firmus placed a new purchase order valued at approximately AUD 855 million, or around USD 599.87 million, for the supply of modular electrical infrastructure. The order will be executed under the existing Master Services Agreement between the two companies.
Chief Executive Officer Wes Maas said the company's investment in Firmus has been creating substantial value and supports its long-term strategy of participating in the development and delivery of digital infrastructure assets. He indicated that the continued partnership reflects Maas Group's growing focus on infrastructure linked to the expanding artificial intelligence and data centre sector.
The latest investment builds on the existing relationship between the two companies and highlights Maas Group's increasing exposure to digital infrastructure projects. As demand for AI computing capacity continues to grow globally, investments in data centres and supporting electrical infrastructure have become a key area of expansion for several real estate and infrastructure companies.
Source Reuters
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