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REDBURN CONFERENCE – Amec Plc

Amec Plc · Nov 22, 2013 · 35 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. REDBURN CONFERENCE – Amec Plc – slide 1
    AMEC plc Redburn conference 22 November 2013
  2. REDBURN CONFERENCE – Amec Plc – slide 2
    AMEC today Key facts FTSE 100 company Market cap c. 3.5 billion1 Sector classification Oil equipment and services Revenue 4.2 billion2 Employees Over 29,0003 Global footprint in over 40 countries Oil & Gas Mining Clean Energy…
  3. REDBURN CONFERENCE – Amec Plc – slide 3
    AMEC today Delivering excellence to our customers High-value services Low-risk business model Robust financial model Consulting Global footprint Asset light 4 growth markets Attractive and stable margins Engineering 29,000…
  4. REDBURN CONFERENCE – Amec Plc – slide 4
    AMEC today Balanced portfolio Across markets Across geographies Environment & Infrastructure 14% Government Services 7% Industrial/Commercial 4% By revenue H1 2013 By revenue H1 2013 By By EBITA EBITAH1 2012 2013…
  5. REDBURN CONFERENCE – Amec Plc – slide 5
    AMEC today Strong customer relationships Oil & Gas Clean Energy BP Clair Ridge, North Sea, UK NDA , Sellafield decommissioning , hook up and commissioning services UK managing the decommissioning of for two new Clair Ridge platforms the…
  6. REDBURN CONFERENCE – Amec Plc – slide 6
    AMEC today Track record of delivery Strong cash flow Revenue: Adjusted EPS: DPS: and high cash +12% CAGR +30% CAGR +20% CAGR conversion (Average 90%) 4,158 80.4 36.5 70.5 3,261 62.5 30.5 2,951 2,606…
  7. REDBURN CONFERENCE – Amec Plc – slide 7
    Our approach to growth and returns Cash generation Dividend Leverage Progressive EBITA dividend Up to 2x growth Cover 2-2.5x EBITDA Revenue growth Surplus cash Investment Additional returns to shareholders Focused on…
  8. REDBURN CONFERENCE – Amec Plc – slide 8
    Strategy: 2015 and beyond Collaborating, improving and growing Building on our track record of delivery Positioning for sustainable growth Resilient and adaptable business 88
  9. REDBURN CONFERENCE – Amec Plc – slide 9
    Strategy: 2015 and beyond Collaborating, improving and growing Selling and delivering Increased efficiencies Including: Sustainable presence in as One AMEC Leaner organisation Including: Growth regions Removing silos Inherently…
  10. REDBURN CONFERENCE – Amec Plc – slide 10
    Strategic priorities remain unchanged Fully integrate markets, sectors and services across region Americas Expand in South America Strengthen and diversify customer base Significantly increase collaboration within Americas and…
  11. REDBURN CONFERENCE – Amec Plc – slide 11
    2013 performance and outlook Trading in line with expectations IMS (19 November) highlights 2013 outlook Group trading YTD in line with Long term fundamentals positive expectations FY underlying revenue (excluding Order book at…
  12. REDBURN CONFERENCE – Amec Plc – slide 12
    Sustainable growth beyond 2015 Skilled workforce with great customer relationships Collaborating Improving Growing Low risk Investing in skills business model Achieving and geog- raphies 100p EPS in 2014 12 12
  13. REDBURN CONFERENCE – Amec Plc – slide 13
    AMEC plc Appendix Supplementary information
  14. REDBURN CONFERENCE – Amec Plc – slide 14
    Appendix Summary H1 2013 results million (6 months ended 30 June) 2013 2012 Change Revenue 1,998 2,026 -1% EBITA1 158 152 +4% EBITA margin 7.9% 7.5% +40bps Operating cash flow2 56 142 -60% Profit before tax3 154 151 +2% Earnings…
  15. REDBURN CONFERENCE – Amec Plc – slide 15
    Appendix Revenue by geography Versus 2012 million 2013 Headline Underlying Underlying (6 months ended 30 June) (excluding FX and (Excl. procurement) 2 acquisitions)1 Americas 1,154 -5% -7% +1% Europe 596 +7% +2% +2% Growth…
  16. REDBURN CONFERENCE – Amec Plc – slide 16
    Appendix Revenue by market Versus 2012 million 2013 Headline Underlying Underlying (Excl. (6 months ended 30 June) (excl. FX and procurement) 2 acquisitions)1 Oil & Gas 1,001 +5% +3% +14% Mining 249 -25% -26% -26% Clean Energy…
  17. REDBURN CONFERENCE – Amec Plc – slide 17
    Appendix Operating cash flow million 6 months ended 30 June 2013 2012 EBITA 158 152 JV EBITA (5) (12) Statutory PBIT 153 140 JV dividend received 5 6 Non-cash items1 13 14 171 160 Working capital (115) (18) Operating cash…
  18. REDBURN CONFERENCE – Amec Plc – slide 18
    Appendix Cash conversion million 350 300 Half year comparables 250 200 150 100 50 0 09 FY 10 FY 11 FY 12 FY 09 H1 10 H1 11 H1 12 H1 13 H1 EBITA* Operating cash flow** Strong cash conversion * Before amortisation and…
  19. REDBURN CONFERENCE – Amec Plc – slide 19
    Appendix Three-year track record: By geography and market FY 2012 FY 2011 FY 2010 million Revenue EBITA Margin Revenue EBITA Margin Revenue EBITA Margin % % % Americas 2,500 233 9.3% 1,807 200 11.1% 1,691 185 10.9% Europe 1,150 91…
  20. REDBURN CONFERENCE – Amec Plc – slide 20
    Appendix AMEC projects include: Oil & Gas Mining BG North Sea engineering BP Big Dog Environment and BMM Gold BP Clair Ridge Newmont Gold BP Environmental MSA K&S Potash Infrastructure BP Chirag Husab Uranium Chevron Wheatstone…
  21. REDBURN CONFERENCE – Amec Plc – slide 21
    Appendix Americas current position Current market position Key projects Revenue (m) CAGR +22% Balanced position across all markets Mining Oil & Gas Growing conventional oil & gas Canada: Potash Corp Canada: Syncrude; Kearl…
  22. REDBURN CONFERENCE – Amec Plc – slide 22
    Appendix Americas opportunities and priorities Objectives Fully integrate markets, sectors and services across region Americas Expand Expand and in South America strengthen Priorities customer base Strengthen and diversify…
  23. REDBURN CONFERENCE – Amec Plc – slide 23
    Appendix Europe current position Current market position Key projects Revenue (m) CAGR +13% Oil & Gas and nuclear main drivers Oil & Gas Mining Market leader in North Sea UK North Sea:, GDF Suez Cygnus, Europe: BMM engineering…
  24. REDBURN CONFERENCE – Amec Plc – slide 24
    Appendix Europe opportunities and priorities Maintain North Sea as key hub and develop Norwegian Objectives Europe opportunity Expand and strengthen Priorities Support customerdevelopment base of greenfield position in Growth…
  25. REDBURN CONFERENCE – Amec Plc – slide 25
    Appendix Growth Regions current position Current market position Key projects Revenue (m) CAGR +21% Focused on oil & gas and mining Oil & Gas Mining market ME PMC Al Zour refinery, KNPC, Africa, Swalcop Uranium Strong engineering and…
  26. REDBURN CONFERENCE – Amec Plc – slide 26
    Appendix Growth Regions opportunities and priorities Establish self-sufficient global hub in Growth Regions Objectives Growth Supported Expand and by Americas and Europe strengthen Regions Gradually customer improve margins as…
  27. REDBURN CONFERENCE – Amec Plc – slide 27
    Appendix AMECs O&G position Consulting & Design & Hook-Up & Operate Decommission Front End Construct Commission Scope of activity 1-2% of TIC EPCM = up to 12% of 3% of TIC n/a n/a TIC Front End Consultancy Greenfield Projects…
  28. REDBURN CONFERENCE – Amec Plc – slide 28
    Appendix Competitors conventional oil & gas Aker Solutions Wood Group SNC Lavalin Key: McDermott 1 Subsea 7 Major player Petrofac Parsons Wheeler Technip Saipem Jacobs Worley Capability…
  29. REDBURN CONFERENCE – Amec Plc – slide 29
    Appendix Competitors - unconventional oil & gas Strong position Capability Limited capability No involvement/capability Leadership position built on track Activity Extraction Up grading record and technical skills Segment…
  30. REDBURN CONFERENCE – Amec Plc – slide 30
    Appendix Competitors - mining Competitor Core geography Consulting & Feasibility EPCM Asset environmental* engineering** management Fluor International Tier 1 Bechtel International AMEC International Hatch International…
  31. REDBURN CONFERENCE – Amec Plc – slide 31
    Appendix Competitors - clean energy Customers value sector focus, flexibility of approach and full-service EPC offering EPC services common among peers, but few focus specifically on clean energy sector Competitor Service Wind Solar…
  32. REDBURN CONFERENCE – Amec Plc – slide 32
    Appendix Competitors - Nuclear Competitor Reactor support Waste management New build AMEC AECL Babcock Bechtel CH2MHILL Doosan Babcock Jacobs AMEC supporting customers across the asset lifecycle This analysis…
  33. REDBURN CONFERENCE – Amec Plc – slide 33
    Appendix E&I Services and customers by sector Industrial/ Transport / Water / Municipal Government Commercial Infrastructure Water supply US Federal Site investigation/ Infrastructure Water quality Environmental consulting…
  34. REDBURN CONFERENCE – Amec Plc – slide 34
    Appendix Competitors Environment & Infrastructure Gross revenue 2011 (m) 1,600 1,400 1,200 1,000 800 600 400 200 0 Source: Environment Analyst This analysis is indicative and is not intended to…
  35. REDBURN CONFERENCE – Amec Plc – slide 35
    Investor Relations contacts Sue Scholes Rupert Green Laura ONeill Director of Communications Interim Head of Investor Relations Investor Relations Associate sue.scholesamec.com rupert.greeamec.com laura.oneillamec.com 020 7429…

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