11th May 2011 07:00
11 May 2011
Revised Segments - Historical Analysis
Commencing with the Interim Results Announcement on 23 August, John Wood Group PLC ("Wood Group") will report under the following revised segments:
·; Engineering : A world leading engineering business with strong market positions in upstream, subsea and pipelines
·; Wood Group PSN : The world's leading production facilities support provider formed by the merger of PSN and Wood Group's Production Facilities business; and
·; Gas Turbine Services : The world's leading independent industrial gas turbine aftermarket provider
A historical analysis of the financial performance of the continuing Group under these segments from 2006 to 2010, reconciled to reported figures, is presented below and is available at www.woodgroup.com/investors
2006 2 | 2007 | 2008 | 2009 | H1 20104 | 2010 | ||||||||||||||||||
Revenue | EBITA3 | Margin | Revenue | EBITA | Margin | Revenue | EBITA | Margin | Revenue | EBITA | Margin | Revenue | EBITA | Margin | Revenue | EBITA | Margin | ||||||
Engineering1 | 842.2 | 88.9 | 10.6% | 1,123.8 | 142.6 | 12.7% | 1,555.0 | 220.6 | 14.2% | 1,394.7 | 161.6 | 11.6% | 595.5 | 57.9 | 9.7% | 1,239.1 | 122.0 | 9.8% | |||||
Wood Group PSN1 | 1,907.8 | 92.9 | 4.9% | 2,662.9 | 139.0 | 5.2% | 2,930.5 | 168.3 | 5.7% | 2,999.0 | 184.4 | 6.1% | 1,535.2 | 91.1 | 5.9% | 3,215.3 | 198.1 | 6.2% | |||||
Production Facilities | 1,127.2 | 52.4 | 4.6% | 1,459.0 | 71.9 | 4.9% | 1,689.7 | 95.5 | 5.7% | 1,846.9 | 104.4 | 5.7% | 976.0 | 49.2 | 5.0% | 2,041.1 | 101.4 | 5.0% | |||||
PSN | 780.6 | 40.5 | 5.2% | 1,203.9 | 67.1 | 5.6% | 1,240.8 | 72.8 | 5.9% | 1,152.1 | 80.0 | 6.9% | 559.2 | 41.9 | 7.5% | 1,174.2 | 96.7 | 8.2% | |||||
GTS | 698.8 | 32.8 | 4.7% | 955.7 | 64.3 | 6.7% | 956.6 | 72.6 | 7.6% | 825.6 | 65.7 | 8.0% | 371.2 | 20.1 | 5.4% | 804.9 | 46.1 | 5.7% | |||||
Central costs | (38.4) | (45.5) | (48.7) | (48.0) | (26.0) | (50.8) | |||||||||||||||||
Continuing Group | 3,448.8 | 176.2 | 5.1% | 4,742.4 | 300.4 | 6.3% | 5,442.1 | 412.8 | 7.6% | 5,219.3 | 363.7 | 7.0% | 2,501.9 | 143.1 | 5.7% | 5,259.3 | 315.4 | 6.0% | |||||
Well Support | 739.1 | 73.6 | 10.0% | 862.1 | 87.1 | 10.1% | 1,008.6 | 105.0 | 10.4% | 813.7 | 75.1 | 9.2% | 450.0 | 53.5 | 11.9% | 947.1 | 128.1 | 13.5% | |||||
Discontinued (Aero) | 43.3 | 32.1 | (2.0) | 33.2 | (4.0) | 45.9 | (0.4) | 17.0 | (1.4) | 30.9 | (2.0) | ||||||||||||
PSN | (780.6) | (40.5) | (1,203.9) | (67.1) | (1,240.8) | (72.8) | (1,152.1) | (80.0) | (559.2) | (41.9) | (1,174.2) | (96.7) | |||||||||||
Reported | 3,450.6 | 209.3 | 6.1% | 4,432.7 | 318.4 | 7.2% | 5,243.1 | 441.0 | 8.4% | 4,926.8 | 358.4 | 7.3% | 2,409.7 | 153.3 | 6.4% | 5,063.1 | 344.8 | 6.8% | |||||
Notes: | |||||||||||||||||||||||
1) A reconciliation to reported Engineering & Production Facilities ("E&PF") results is presented below: | |||||||||||||||||||||||
Engineering | 842.2 | 88.9 | 10.6% | 1123.8 | 142.6 | 12.7% | 1,555.0 | 220.6 | 14.2% | 1,394.7 | 161.6 | 11.6% | 595.5 | 57.9 | 9.7% | 1,239.1 | 122.0 | 9.8% | |||||
Production Facilities | 1127.2 | 52.4 | 4.6% | 1459.0 | 71.9 | 4.9% | 1,689.7 | 95.5 | 5.7% | 1,846.9 | 104.4 | 5.7% | 976.0 | 49.2 | 5.0% | 2,041.1 | 101.4 | 5.0% | |||||
E&PF | 1,969.4 | 141.3 | 7.2% | 2,582.8 | 214.5 | 8.3% | 3,244.7 | 316.1 | 9.7% | 3,241.6 | 266.0 | 8.2% | 1,571.5 | 107.1 | 6.8% | 3,280.2 | 223.4 | 6.8% | |||||
2) PSN was incorporated in May 2006 and the numbers presented cover the period from 1 May to 31 December 2006. | |||||||||||||||||||||||
3) EBITA represents operating profit before adjusting for exceptional items and amortisation. A reconciliation of Wood Group's EBITA to profit before tax and profit for the year is provided in the segmental note to the accounts in each year. | |||||||||||||||||||||||
4) The figures presented for H1 2010 for PSN have not been subject to review by an independent auditor. | |||||||||||||||||||||||
Notes to editors:
Wood Group is an international energy services company with $5.5bn revenues, employing around 34,000 people and operating in 50 countries. The Group has three businesses - Engineering, Wood Group PSN and Gas Turbine Services - providing a range of engineering, production support, maintenance management and industrial gas turbine overhaul and repair services to the oil & gas, and power generation industries worldwide.
www.woodgroup.com
For further information contact:
Wood Group
Nick Gilman / Andrew Rose 01224 851 000
Brunswick
Patrick Handley 020 7404 5959
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