30th Nov 2016 07:00
WOOD GROUP (JOHN) PLC - Revised Reportable Segments – Historical AnalysisWOOD GROUP (JOHN) PLC - Revised Reportable Segments – Historical Analysis
PR Newswire
London, November 28
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 GroupAndrew Rose – Group Head of Investor Relations 01224 851 000
BrunswickPatrick Handley 020 7404 5959Charles Pemberton
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