Revised Segments - Historical Analysis

RNS Number : 3425G

Wood Group (John) PLC

11 May 2011

 



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

 

END

 

 

STRGGURWAUPGPUU