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2024 has been Pensar’s biggest year on record – in the number of people we employ, our revenue, the scale and scope of projects, the clients we work with and the regions where we work.
Our growth over the past year has been unprecedented. At the time of writing, we employ 295 people. We have grown by more than a third in the past year. Our turnover for the first half of the year was $100 million. Our revenue forecast for the 2025 financial year is $185 million – up more than 20% on last year and triple that of five years ago.
It’s remarkable to see the growth of the business over the past five very challenging years. What’s more, there’s not one mega project or client bumping up the figures. We have a healthy balance of clients and projects. While we continue to build on longstanding client relationships and ongoing project work, our portfolio has never been more diversified and our business more balanced.
A bigger, stronger family
Throughout 2024, we have been recruiting and onboarding three to four employees on average each week. My thanks to our internal team for meeting this challenge whilst turning around the resourcing, recruitment and retention challenges of recent years. Our anniversary lunch this year was our largest to date with more than 50 of our team in attendance celebrating the milestone of 5 plus years with Pensar.
For me in my first year as COO, it has been a year of many new challenges and great achievements for the business. In our strategic planning we envision a future Pensar of 400 to 500 people and we are building the platform to take us there.
Our membership of the RSK Group has clearly been positive for business – and well received by our people and clients. Two years on, Pensar’s directors and senior management remain unchanged. We have suffered no employee attrition due to the new ownership and we continue to work with the same clients. This is in stark contrast with many mergers and acquisitions – and a credit to the RSK and Pensar culture. Today as a member of the RSK family, Pensar enjoys new business confidence and capacity.
After our first year in our new Brisbane office in the Valley, our clients and staff are loving the lively location and professional and collaborative workspace.
Long-term projects for longstanding clients
Pensar’s largest current project is Seqwater’s Mount Crosby East Bank Pump Station Critical Electrical Infrastructure (CEI) Upgrade. Our design and construction works involve reinforcing flood protection and modernising electrical systems, including transformers, high voltage switchgear to connect to the new Energex substation, new pump motors and critical spare parts.
The project is a big feather in Pensar’s cap. The East Bank Pump Station is a critical asset in the South-east Queensland water grid, delivering half of the region’s drinking water. We worked closely with Seqwater through a six-month early contractor involvement phase, competing against much larger tier one companies. Building on the success of more than 100 projects delivered for Seqwater, the $40 million East Bank Pump Station upgrade is our largest to date. Works are scheduled for completion in 2026.
We continue to work with Ravenswood Gold. Now pushing five years, this is our longest continuous project. What began with the construction of a 160 hectare tailings storage facility has evolved to include an array of projects demanded by the expansion and upgrade of Queensland’s largest gold mine. It’s a great example of growing with a client and project – building on successful and rewarding relationships.
We continue to deliver impressive outcomes for a range of uniquely challenging projects. To name just a few including Sunwater’s Fitzroy River Barrage Fishway, Fraser Coast Regional Council’s Teddington WTP Sludge Dewatering Facility D&C and Toowoomba Regional Council Wetalla WTP Aeration Upgrade D&C.
Growing our presence in Queensland, New South Wales and Tasmania
Our NSW office continues to go from strength to strength, delivering brilliant results for complex projects like the Toronto Wastewater Treatment Works EAT Refurbishment and Diffuser Upgrade for Hunter Water. Based in Newcastle, the office has doubled in size over the past year, comprising 40 people today. Kris Saunders and the Newcastle crew have done inspiring work building Pensar’s profile and reputation in the region.
Pensar will open a Tasmania office in Hobart in January, building on the success of our work in the island state in recent years – from the D&C of WTP UV disinfection systems and reservoir refurbishments for TasWater, to strengthening bridges for the Department of State Growth. Laura Arias will be relocating to head up the new Pensar Tasmania branch. This is an exciting opportunity for Laura and Pensar, and we are thrilled to have her in the role. Laura has been with Pensar since 2016, initially as Site Engineer, then Project Manager since 2020.
Within Queensland we continue to extend our geographic reach with projects currently being delivered as far north as Cairns. We were recently awarded the design and construction of a new wastewater treatment plant on Great Keppel Island with construction commencing in the first half of 2025. With the completion of the design of a new sewage treatment plant in Quilpie, we will be commencing construction in February.
Earning recognition
Michael Bissett, our Director of Regional and Offshore, presented at the 2024 Singapore International Water Week conference in June. In our first international paper presentation, Michael shared his insights into sustainable irrigation infrastructure and the potential of industry-community collaborations. He joined the RSK delegation.
Congrats to Jamie Horan, who recently won the Mike Rutherford Golden Trowel Award at this year’s ACA Corrosion and Prevention Conference. The award recognises excellence and innovation in concrete remediation – an area of growing significance for Pensar in recent years as we work to extend the lifespan of ageing reinforced concrete infrastructure, from reservoirs to bridges. Jamie first joined Pensar in 2018 as a Project Manager. After a brief absence in 2022, he rejoined as Operations Supervisor in our structures team. Jamie is a guru in concrete rehabilitation and it’s great to see his industry knowledge and achievements recognised with this award.
This year we established our Sustainability Pillars and achieved bronze EcoVadis certification, rating Pensar in the top 35% across multiple ESG indicators. This demonstrates our commitment to drive positive change by embedding sustainable practices into every aspect of our operations and decision-making.
Engaging with industry
Given our longstanding focus on the water sector, we continue to support and build our engagement with the Australian Water Association, WaterAid and the Water Industry Operations Association (WIOA).
This year, we became a founding partner of AWA’s Careers in Water Program – a three-year initiative to promote skills development and career opportunities in the water sector, strengthening the future workforce. I’ve been involved with the AWA for 10 years now. I am also honoured to sit on the WaterAid Australia ambassador group.
We continue to support and collaborate with many other industry associations through memberships, sponsorships and attendance at conferences and events.
25 years of Pensar
In February next year, it will be 25 years since Karl Yunker started Pensar. I’ve been here for 15 of those. So many of our team have been with Pensar for many years. We all greatly value working with such a tight-knit team.
We are proud of our people, work culture and staff retention. As Karl says, our people are our business and Pensar’s greatest asset. Thanks to the many people – staff and clients alike – who have helped to make 2024 Pensar’s biggest yet. I look forward to continuing to do great work with you all in 2025.
Patrick Newell
Chief Operating Officer
