30 November 2016
Revised Reportable
Segments – Historical Analysis
Following the reorganisation and repositioning of Wood Group
during 2016, and as announced at the interim results on 16 August,
Wood Group will change its reporting to align reportable segments
with our new operating structure effective July 2016.
The new operating structure reflects a move to an organisation
defined by service provision in response to customer requirements.
Our effectiveness will be increased by enabling easier customer
engagement, and Wood Group will be better positioned to leverage
our proven track record and technical independence to develop smart
solutions.
Results for the year ended 31 December
2016 will comprise three reportable segments, being; Asset
Life Cycle Solutions West, Asset Life Cycle Solutions East and
Specialist Technical Solutions.
A historical analysis of financial performance under our old and
revised reportable segments from 2012 to H1 2016 is presented
below. Revenue and EBITA figures are presented on a proportionally
consolidated basis which is the basis used by management to run the
business and include the contribution from joint ventures.
There will be a short web based presentation for analysts at
8:30am today hosted by Wood Group IR.
Please see web address and dial in details below. The presentation
will recap the commercial rationale for our reorganisation and the
mapping of the old to new reportable segments. A replay of the
presentation and a copy of the materials will be available on the
investor relations section of our website later today.
|
2012 ($m) |
|
2013 ($m) |
|
2014 ($m) |
|
2015 ($m) |
|
1H 2016 ($m) |
|
|
Revenue |
EBITA |
Margin |
Revenue |
EBITA |
Margin |
Revenue |
EBITA |
Margin |
Revenue |
EBITA |
Margin |
Revenue |
EBITA |
Margin |
Old Segments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PSN Production
Services |
3,713 |
209 |
5.6% |
4,018 |
265 |
6.6% |
4,636 |
342 |
7.4% |
3,448 |
258 |
7.5% |
1,556 |
89 |
5.7% |
Engineering |
1,788 |
220 |
12.3% |
1,986 |
247 |
12.5% |
2,131 |
232 |
10.9% |
1,729 |
215 |
12.4% |
701 |
80 |
11.5% |
Turbine
Activities |
1,317 |
85 |
6.4% |
1,052 |
78 |
7.4% |
850 |
33 |
3.9% |
676 |
44 |
6.5% |
302 |
13 |
4.5% |
Central costs |
|
(52) |
|
|
(57) |
|
|
(57) |
|
|
(47) |
|
|
(17) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,818 |
461 |
6.8% |
7,055 |
533 |
7.6% |
7,616 |
550 |
7.2% |
5,852 |
470 |
8.0% |
2,559 |
166 |
6.5% |
Revised Segments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asset Life Cycle
Solutions West |
2,166 |
201 |
9.3% |
2,399 |
256 |
10.7% |
2,798 |
271 |
9.7% |
2,121 |
208 |
9.8% |
1,051 |
78 |
7.4% |
Asset Life Cycle
Solutions East |
4,000 |
213 |
5.3% |
3,938 |
221 |
5.6% |
4,099 |
221 |
5.4% |
3,145 |
217 |
6.9% |
1,251 |
71 |
5.7% |
Specialist Technical
Solutions |
651 |
100 |
15.3% |
717 |
113 |
15.8% |
719 |
116 |
16.1% |
586 |
92 |
15.7% |
257 |
33 |
13.0% |
Central costs |
|
(52) |
|
|
(57) |
|
|
(57) |
|
|
(47) |
|
|
(17) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reported |
6,818 |
461 |
6.8% |
7,055 |
533 |
7.6% |
7,616 |
550 |
7.2% |
5,852 |
470 |
8.0% |
2,559 |
166 |
6.5% |
The links to the web based presentation at 8:30am and instructions covering how analysts can
ask questions can be found on the investor relations pages under
the financial events calendar here:
https://www.woodgroup.com/investors/financial-information/financial-events-calendar
Alternatively, the webcast can be accessed directly at
http://edge.media-server.com/m/p/cirree55
Attendee dial—in:
|
Confirmation Code: |
7090039 |
|
Participants, Local - London,
United Kingdom: |
+44(0)20 3427 1900 |
|
Participants, National free
phone - United Kingdom: |
0800 279 5004 |
|
Participants, Local - New
York, United States of America: |
+1646 254 3364 |
|
Participants, National free
phone - United States of America: |
1877 280 2296 |
|
Participants, Local - Paris,
France: |
+33(0)1 76 77 22 26 |
|
Participants, National free
phone - France: |
0805 631 580 |
|
Participants, Local - Berlin,
Germany: |
+49(0)30 3001 90538 |
|
Participants, National free
phone - Germany: |
0800 589 2673 |
|
Participants, Local - Milan,
Italy: |
+3902 3600 9866 |
|
Participants, National free
phone - Italy: |
800 145 655 |
Notes:
For further information contact:
Wood Group
Andrew Rose – Group Head of Investor
Relations
01224 851 000
Brunswick
Patrick Handley
020 7404 5959
Charles Pemberton