Revised Reportable Segments – Historical Anal...

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:	[phone]
	Participants,  National free phone - United Kingdom:	0800 279 5004
	Participants,  Local - New York, United States of America:	[phone]
	Participants,  National free phone - United States of America:	1877 280 2296
	Participants,  Local - Paris, France:	[phone]
	Participants,  National free phone - France:	0805 631 580
	Participants,  Local - Berlin, Germany:	[phone]
	Participants,  National free phone - Germany:	0800 589 2673
	Participants,  Local - Milan, Italy:	[phone]
	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