Interim Management Statement

Tuesday 19 November, 2013

AMEC plc Interim Management Statement

Highlights

· Year-to-date trading continues to be in line with expectations

· Order intake and forward visibility remain good

o Order book £4.0 billion (June 2013: £3.9 billion; October 2012: £3.6 billion)

· Remain on track for strong full year cash conversion

AMEC Chief Executive Samir Brikho said:

"AMEC has continued to perform in line with expectations, with strong performances in the UK North Sea and US renewable markets. Our record order book reinforces our confidence as we look forward to 2014.

 "The pipeline of acquisition opportunities remains strong. Depending on the progress made, additional cash returns to shareholders will be considered before the year end.

"We remain on track to achieve EPS of greater than 100 pence in 2014."

A conference call for analysts and investors will be hosted by Ian McHoul, Chief Financial Officer today at 8.00 am.

Contacts

AMEC plc: +44 (0) 20 7429 7500

Ian McHoul, Chief Financial Officer

Sue Scholes, Director of Communications

Rupert Green, Interim Head of Investor Relations

Media

Brunswick Group LLP: Mike Harrison and Dania Saidam + 44 (0) 20 7404 5959

Next event: AMEC expects to announce full year results for the year ending 31 December 2013 on Thursday 13 February 2014.

Analyst consensus estimates are collated and published on AMEC's website on a periodic basis amec.com/investors/key facts.

Forward looking statements

Any forward looking statements made in this document represent management's best judgment as to what may occur in the future. However, the group's actual results for the current and future fiscal periods and corporate developments will depend on a number of economic, competitive and other factors, some of which will be outside the control of the group. Such factors could cause the group's actual results for future periods to differ materially from those expressed in any forward looking statements made in this document

Interim Management Statement 19 November 2013

Group performance

Year to date trading has been in line with expectations.

Order intake remains good and provides good visibility for the remainder of 2013 and beyond. The order book was £4.0 billion at 31 October (June 2013: £3.9 billion; October 2012: £3.6 billion).

Contract awards since 30 June include:

· EPC contracts with Dominion and Sempra to design and construct solar arrays in Indiana and Nevada, US

· Contracts in the UK North Sea with TAQA for brownfield modifications and commissioning on the Cladhan field, and GDF for hook up and commissioning services on the Cygnus gas field

· Feasibility study for a new mine for VALE, Canada and detailed design work for an ore transfer system for Codelco, Chile

· Five-year extension to NMP's contract with the UK Nuclear Decommissioning Authority at Sellafield and a three-year contract with the Nuclear Company of Slovakia to provide environmental services to its nuclear new build programme

· Five-year extension to the contract with Wales and West Utility, UK to provide design, construction and project management services

· Two-year contract with Isle of Wight Council, UK to provide technical advice and consultancy on waste recycling

The group continues to see investment in its end markets and demand for its services, particularly from customers in the conventional oil and gas sector, offsetting the ongoing weakness in the oil sands and mining markets. Activity in the North Sea remains high, with new contracts being signed and work continuing on a number of projects. Work has also continued on our 11-year contract with EDF supporting new build nuclear power stations in the UK. Our operations in the Middle East continue to win new business and execute existing projects.

The average number of employees in the period was 28,729 (January to October 2012: 28,250).

Acquisition update

The acquisition of Automated Engineering Services Corp. (AES) for US$29 million was announced on 4 November. AES provides plant design, modification engineering, safety and licensing services to nuclear facilities in the US. The acquisition builds on our nuclear position in the US, allows us to better serve our clients and provides a solid platform from which to achieve further growth. The acquisition completed on 15 November.

Financial position and net cash

AMEC has a strong financial position with net cash at the end of October 2013 of approximately £6 million (June 2013: £25 million; October 2012: £124 million). The final dividend of £73 million for the year ended 31 December 2012 was paid to shareholders in July.

2013 outlook

The outlook is unchanged from that provided at the half-year results.

Full year 2013 underlying revenue, excluding incremental procurement, is expected to be in line with 2012, with good visibility provided by the order book of £4.0 billion. Incremental procurement in 2013 is still expected to be £200 million lower than in 2012.

Second half margins are expected to be stronger than H1 2013, reflecting the usual seasonal uplift. Compared with the same period last year, they are also expected to benefit from the reduction in incremental procurement and from cost efficiencies relating to the business restructure.

Operating cash flow in the full year is expected to be strong.

The pipeline of acquisition opportunities remains strong. Depending on the progress made, additional cash returns to shareholders will be considered before the year end.

AMEC continues to expect to achieve earnings per share of greater than 100 pence in 2014.

Note to editors:

AMEC (LSE: AMEC) is a focused supplier of consultancy, engineering and project management services to its customers in the world's oil and gas, mining, clean energy, environment and infrastructure markets. With annual revenues of some £4.2 billion, AMEC designs, delivers and maintains strategic and complex assets and employs over 29,000 people in around 40 countries worldwide. See amec.com.