AMEC today Diversified model minimises risk and maximises opportunity Long term track record of growth Focused on creating shareholder value 33
AMEC today Balanced portfolio Across markets Across geographies Environment & Infrastructure 14% Government Services 6% Industrial/Commercial 4% By revenue 2013 By revenue 2013 By By EBITA EBITA2013 2012…
AMEC today Successful track record of delivery Revenue: 4bn EBITA: 343m EPS: 87.2p CAGR +9% CAGR +27% CAGR +29% Record order book Cash conversion c.27,000 4.2 billion average 90% employees Long term track record of…
AMEC today 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…
AMEC today Highly successful business model Our employees We sell our We have a low-risk are talented people expertise globally contracting model We are customer We operate in We are highly focused 4 growth markets cash…
AMEC today Strong customer relationships Oil & Gas Clean Energy BP Clair Ridge, North Sea, UK NDA, Sellafield decommissioning, UK hook up and commissioning services managing the decommissioning of the for two new Clair Ridge platforms…
AMEC today Upstream Oil & Gas service offering 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…
AMEC today Markets update Europe Market O&G: UK North Sea production stabilising CE: awaiting regulatory clarity for new nuclear AMEC O&G: brownfield and opex remain high position CE: reactor support drives near-term nuclear…
AMEC outlook Long term fundamentals positive 2014 revenue good underlying growth expected 2014 margin risk on the downside due to mix Stronger sterling will affect translation of North American operations Currently estimated to be…
AMEC plc Foster Wheeler acquisition
Offer for Foster Wheeler Key benefits Significantly enhances oil & gas position and improves geographic footprint Brings together two highly-skilled workforces Retention of low-risk and cash generative business model Financially…
Offer for Foster Wheeler Headline terms For each Foster Wheeler share: 0.8998 new AMEC shares/ADRs and 16.00 in cash Represents c.3.3 billion for whole of Foster Wheeler(1) Two Foster Wheeler non-executive directors are expected…
Cost synergies Identified cost synergies of at least US75 million per annum Full annualised run-rate by year three Approximate cost of 75-90 million to achieve Predominantly removal of duplicated corporate overhead and SG&A costs…
Pro forma financials PF 2012 Revenues 6.2bn IFRS reconciliation of FWs 2012 numbers No significant impact to revenues or continuing FW operations EBITDA 35% Combined order book of more than 6 billion AMEC 65% IFRS asbestos…
Anticipated timetable Q1 Announce firm offer (13 February 2014) Progress AMECs US registration and listing AMEC makes anti-trust filings Q2/3 AMEC shareholder documents published and shareholder meetings Offer document posted to…
Strategic rationale for the acquisition Complements AMECs footprint Strong brand and international footprint P Doubles size of Growth Regions and expands LatAM exposure Highly skilled workforce P Similar to AMECs skill set…
Enhanced opportunities with Foster Wheeler Europe Enhanced workshare, better use of HVDCs Centre of excellence for engineering Strengthened sales network, new customers Americas Growth Regions Immediate scale in onshore…
AMEC + Foster Wheeler: a compelling combination Enhances oil and gas position across the whole value chain: on and offshore P Expands geographic footprint P Brings together two highly-skilled workforces P Retains low-risk, cash…
Revenue by geography Versus 2012 million 2013 Headline Underlying Underlying (excluding FX and (excl. procurement) 2 acquisitions)1 Americas 2,247 -10% -10% -2% Europe 1,227 +14% +11% +11% Growth Regions 536 +1% +2% +2%…
Revenue by market Versus 2012 million 2013 Headline Underlying Underlying (excl. FX and (Excl. procurement )2 acquisitions)1 Oil & Gas 1,997 +4% +4% +13% Mining 493 -28% -27% -23% Clean Energy 956 +1% -2% -2% Environment &…
EBITA margin1 2013 2012 Excl. Excl. million Headline Headline procurement2 procurement2 Americas 10.7% 11.3% 9.3% 10.7% Europe 7.6% 7.6% 8.8% 8.8% Growth Regions 6.2% 6.2% 6.1% 6.1% Total 3 8.6% 8.9% 8.2% 8.8% Like for…
Operating cash flow million 2013 2012 m EBITA 343 334 400 JV EBITA (28) (23) 350 JV dividends received 8 11 300 Non-cash items1 25 28 250 Working capital (7) (38) 200 150 Operating cashflow2 341 312 100 50 Cash conversion…
AMEC plc Supplementary information
Appendix Safety statistics Total recordable case frequency rate Lost time incident frequency rate All injury frequency rate (per 200,000 exposure hours) (per 200,000 exposure hours) (per 200,000 exposure hours) 0.37 0.38 0.04 0.04…
Appendix versus North American currencies 2014F1 2013 2012 13/12 14/13 Income statement Cdn 1.84 1.62 1.59 +2% +14% US 1.66 1.57 1.59 -1% +6% Balance sheet Cdn 1.76 1.62 +9% US 1.66 1.63 +2% 1 Forecast average rates, as…
Appendix AMEC projects include Oil & Gas Mining BG North Sea engineering BP Big Dog BMM Gold BP Clair Ridge Newmont Gold Environment and BP Environmental MSA K+S Potash Infrastructure BP Chirag and Shah Deniz Husab Uranium Chevron…
Appendix Competitors - mining Competitor Core geography Consulting & Feasibility EPCM Asset environmental* engineering** management Fluor International Tier 1 Bechtel International AMEC International Hatch International…
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…
Appendix Competitors - nuclear Competitor Reactor support Clean up New build AMEC Cavendish (formerly Babcock) Bechtel CH2MHILL Doosan Babcock Jacobs Atkins AMEC supporting customers across the asset…
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…
Appendix Foster Wheeler key financials Key income statement items (1) Backlog (4) million FY 2013 FY 2012 By division Scope revenue 2,594 2,548 million FY 2013 FY 2012 Total revenue 3,306 3,391 E&C 2,973 2,197 EBITDA (2) 250…
Appendix Overview of Foster Wheeler E&C E&C key financial metrics(1) Engineering and project management services focus million FY 2013 FY 2012 Front-end design (FEED); engineering, procurement, Scope revenue 1,809 1,586…
Appendix Overview of Foster Wheeler Power Equipment Power Equipment key financial metrics(1) Designs, manufactures and installs power million FY 2013 FY 2012 generation equipment Scope Revenue 785 962 Deep history and experience,…
Investor Relations contacts Sue Scholes Rupert Green Claire Stetsenko Director of Communications Interim Head of Investor Relations Investor Relations Associate sue.scholesamec.com rupert.greenamec.com claire.stestenkoamec.com 44…
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