Outlook While there is undoubtedly much potential ahead to support companies on the path to net zero and the energy transition, it is important to sound a note of caution. Tightening corporate budgets may reduce the appetite for voluntary programmes to improve sustainability and climate resilience, while the outcomes of the election ‘super cycle’ may result in changes in government that will either alter or push back on environmental and sustainability goals. However, the range of our services, the flexibility of our teams and our relatively small but growing place in the market can all help to provide us with opportunities despite these headwinds. We expect offshore wind projects in the Asia Pacific region to continue to provide opportunities across environment, metocean, ports and logistics and vessel design. In Australia, although the pace of projects has slowed for some offshore wind developers, this should be resolved following the outcomes of the federal election in 2025. We also see opportunities to leverage our new hires and cross-sell adjacent services to our existing customers, especially across the integrated water and energy transition. While a buoyant market for marine industries provides many opportunities for us, it is also attracting increasing competition. We are seeing new and agile technology companies entering traditional advisory services markets. However, many of these technology companies lack the domain knowledge to gain customers’ trust, while our traditional competitors often lack the digital maturity to compete effectively. With both the requisite technological and domain knowledge, we have the potential to play a growing role in the marine market. “I am excited about the increased impact we are having, collaborating with our customers, supply chains and industry partners on global challenges such as climate change.” Shane Amaratunga, Global Business Development Director, BMT Supporting Scotland’s fisheries We won a contract to support Scotland’s fisheries during a period of climate change and ocean acidification. Awarded through ClimateXChange – Scotland’s centre of expertise on climate change – the project reinforces our ongoing commitment to sustainable, regenerative practices. (above) Canada project wins In Eastern Canada, we contributed to the environmental impact statement of a new aquaculture installation using our TUFLOW modelling software. We were also involved in several sustainability and decarbonisation initiatives within large federal institutions, providing technical expertise to integrate customers’ environmental goals into their operations and actions. In Southern Ontario, we worked on the environmental and climate assessment of a project evaluating transit options for a community, quantifying the potential impacts on the surrounding community and evaluating the climate change effects that are relevant to its design and implementation. (above right) We win key award We triumphed at the 2023 Energy Industries Council (EIC) National Awards Ceremony, not only winning the coveted Culture Award but also being finalists for the Sustainability Award. This was achieved against stiff competition from 60 leading companies in the energy sector. (below) New software success Our new integrated environmental software platform TUFLOW CATCH won the Australian 2024 Stormwater Queensland Award for Excellence in the Research & Innovation category. This award recognises the platform’s valuable role in modelling the impact of water catchment. (right) Boosting the blue economy We are playing a key role in Australia’s Blue Economy Cooperative Research Centre (CRC). Our work on the Data Infrastructure Design for the Blue Economy (DIDBE) will help the CRC to effectively manage and share marine and maritime data, supporting its mission of fostering growth through evidence-based decision-making. Green giant Set to be the world’s largest renewable energy project, which will be capable of powering 70 million households, Australia’s Western Green Energy Hub will feature massive solar and wind capabilities. Our initial work on the project involves vessel-based surveys of marine habitats, bathymetry and metocean conditions, combined with hydrodynamic modelling and preliminary environmental impact and approvals advice. (above) ADAPT dredging We have created a new high-impact, disruptive dredgingrelated service called ADAPT. It brings together our simulator software TUFLOW, our dredge planning domain knowledge, our data platform BMT DEEP and our AI capabilities to target even the toughest of customer dredging challenges. (below and right) 25 BMT Group Ltd | Review of performance 23-24 24
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