Wood Group AGM and IMS

WOOD GROUP (JOHN) PLC - Wood Group AGM and IMS

PR Newswire

London, May 14

15 May 2013

Annual General Meeting Statement ("AGM") and Interim Management Statement

John Wood Group PLC ("Wood Group"), issues the following IMS which theChairman, Allister Langlands, will deliver at today's AGM. A trading update forthe first half will be provided on 26 June 2013.

Performance for the year to date is in line with expectations in Wood GroupEngineering and Wood Group PSN. Wood Group GTS is currently behind plan andthis is anticipated to be recovered over the course of the year. Overall, theGroup remains confident of achieving full year performance in line withexpectations.

Wood Group Engineering is performing well and is on track to deliver EBITAgrowth of around 15%. In Upstream, we have recently been awarded the detailedengineering scope on Anadarko Heidelberg in the Gulf of Mexico and remainactive on a range of other projects including Ichthys and Mafumeira Sul. InSubsea and Pipelines, we are seeing strong activity across our principal hubsin the UK, US and Asia Pacific.

Wood Group PSN is performing well in the North Sea, where we have recentlysecured important extensions to major contracts with Total and CNR. In theAmericas, our activities in the US shale regions are performing well, includinggood contributions from the acquisitions made in 2012. In Internationalmarkets, we have recently secured extensions to contracts in Chad andAustralia. In Oman, underlying losses are reducing and we remain confident ofachieving a significant improvement in financial performance for the year.

In Wood Group GTS, our Maintenance business has been affected by delays toengine overhauls, including secured work in our aero derivative joint ventures,which are anticipated to be executed in the balance of the year. In PowerSolutions, the forecast outcome on Dorad has been impacted by increased costsand this is reflected in the year to date position; we have provisionalagreement on a number of change orders which should benefit the full yearposition. The NRG and Pasadena contracts are progressing according to plan andwe continue to pursue a number of further opportunities. Overall, we anticipatethat Wood Group GTS will deliver full year EBITA in line with expectations.

Overall, our balance sheet remains strong and we remain confident of achievingfull year performance in line with expectations.

Notes to editors:

Wood Group is an international energy services company with around $7.0bnrevenues, employing around 43,000 people and operating in 50 countries. TheGroup has three businesses - Wood Group Engineering, Wood Group PSN and WoodGroup GTS - providing a range of engineering, production support, maintenancemanagement and industrial gas turbine overhaul and repair services to the oil &gas, and power generation industries worldwide.

Nick Gilman / Andrew Rose / Carolyn Smith 01224 851 000