Headlines Delivered good operational and financial performance in the first half of the year ECOM order intake of US2.3 billion in the year to date; expect Onshore Engineering & Construction backlog to remain broadly flat over 2H…
Strategy drivers of growth UPDATE Established operating hub in Geographical Expand existing business into new Villahermosa, Mexico expansion p g g p geographies Executing gpprojects j in Mozambique q and the Cte dIvoire…
ECOM Key contract awards 2012 to date Engineering & Construction shore Overall order intake year to date is approximately US1.0 billion Badra oilfield development, development Iraq US330m EPC contract Ons PetroRabigh…
ECOM Update on major projects S Southth Yoloten Y l t gas field fi ld shore Engineering & development, Turkmenistan and ction Asab oil field development, Abu Dh bi both Dhabi Construc b th on schedule h d l…
ECOM New business prospects Significant number of bidding opportunities in our core markets in the Middle East, Africa, th C the Commonwealthlth off IIndependent d d t St States, t Europe E and d Asia A i PPacific ifi We…
IES Key contract awards Pnuco,, Mexico Awarded Pnuco block in 2nd round of bidding process in Mexico Petrofac and Schlumberger will provide production enhancement services to nt Contractt PEMEX (the ( concession holder)) ffor…
IES Update on major projects Ticleni, Romania we have commenced a two rig drilling programme and are ancement Production Contracts progressing other key work items Magallanes and Santuario, Santuario Mexico we have…
IES New business prospects Ongoing discussions with a number of resource holders with regard to Production E h Enhancement t Contracts C t t and d Ri Risk kSService i C Contracts t t Shortlisted opportunities to pursue with…
Income Statement USm 1H 2012 1H 2011 Variance Revenue 3,241.8 2,711.1 20% Operating profit 411.4 297.8 38% Profit before tax 412.5 299.6 38% Income tax expense (88.9) (53.1) 67% P fit for Profit f the th period i d 323.7…
Backlog Backlog of US8.9 billion at 30 June 2012 (Dec 2011: US10.8 billion) Onshore Engineering & Construction backlog US4.6 billion (Dec 2011: US6.4bn) Offshore Projects & Operations backlog US2.8 billion (Dec 2011: US2.7bn)…
Cash flow and gross cash balances Net cash balances lower at US775 million: Operating activities include significant unwinding of cash advances and increase in WIP on Onshore Engineering & Construction projects, particularly on South…
Onshore Engineering & Construction Continues to perform strongly: Revenue 25% reflecting a substantial increase in activity levels Net profit 22% representing a net margin of 10 10.5% 5% Revenue (USm) EBITDA (USm) and margin…
Offshore Projects & Operations Building on 2011s strong growth: Revenue 14% continue to see record activity levels Net profit 3% underlying net profit 26% (excluding provision release in 1H 2011 following completion of a long-term…
Engineering & Consulting Services Growth in activity levels but lower utilisation rates: Revenues 8% increase in activity levels Net profit 66% despite an increase in overall activity levels, there was a decline in utilisation rates;…
Integrated Energy Services Strong growth in revenue and net profit: Revenue 26% substantial progress on the Berantai RSC and commencement of the Magallanes and Santuario PECs Net profit 977% first time profit recognition on the…
Summary and outlook We remain on course to deliver net profit growth in 2012 of at least 15% Significant number of bidding opportunities in our core markets for our ECOM division: Anticipate growth in Onshore Engineering &…
Appendices
Appendix 1: Group organisation structure Following the creation of the Offshore Capital Projects service line, the Group is structured in the following way: ons Engineering, g g Construction, Operations p & Maintenance…
Appendix 2: Key ECOM projects Customer key: Original contract NOC/NOC led company/consortium Joint NOC/IOC company/consortium IOC/IOC led company/consortium value to Petrofac Asab onshore oil field development development, Abu Dhabi…
Appendix 3: Key IES projects and operational activities Within IES, our projects are classified into three commercial models The below diagram shows the current key IES projects in the portfolio, organised by commercial model, and a…
Appendix 4: Segmental performance Onshore Engineering & Construction earned 69% of revenue and 71% of net profit Middle East & Africa and CIS & Asia: key geographic markets for Onshore Engineering & Construction CIS & Asia: p…
Appendix 5: Effective tax rate Tax charge by segment 1H 2012 1H 2011 reported t d reported t d Onshore Engineering & Construction 17% 14% Offshore Projects & Operations 26% 19% Engineering & Consulting Services 30% 10% g Integrated…
Appendix 6: Employee numbers Around 17,200 people in 7 key operating centres and 24 offices Approximately 5,000 employee shareholders or participants in employee share schemes Total headcount 100 2,800 2 500 2,500 7,800…
Appendix 7: Integrated Energy Services earnings guidance At the IES Capital Markets Day held in June 2011, we gave the following guidance: In 2015, 2015 IES will generate net income of around US200m from projects in operation/under…
Notes EBITDA means earnings before interest, tax, depreciation and amortisation and is calculated as profit from operations before tax and finance costs adjusted to add back charges for depreciation, amortisation and impairment.…
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