Worley Limited · ASX:WOR
Worley — WorleyParsons — Macquarie Connections Australia Conference 2009
32 slides from Worley's conference presentation, May 7, 2009
Slide 1: John Grill, Managing Director / Chief Executive Officer
John Grill Managing Director / Chief Executive Officer
Slide 2: Agenda
Agenda Financial highlights Our attributes Strategy update Outlook 2
Slide 3: Our Vision
Our Vision WorleyParsons will be the preferred global provider of technical, project and operational support services to our customers, using the distinctive WorleyParsons culture to create value for them and prosperity for our people. • Leadership • Agility • Relationships • Performance
Slide 4: Financial Highlights
il WorleyParsons resources & energy Financial Highlights
Slide 5: Financial Highlights
Financial Highlights Half year net profit of $197.5m, up 29.3% Aggregated Revenue $3,259.6m Half year EBITDA growth 34.7% Operating cash flow $234.5m Basic EPS up 28.9% to 81.6 cps Interim dividend 38.0 cents per share (franked at 76%) US$300m debt facility increase and refinance 5
Slide 6: Material Announcements
Material Announcements1 BP’s Gulf of Mexico Engineering and Project Management Service SAMREF Clean Fuels Project Kashagan Phase 2 Full Field Development FEED Woodside North West Shelf Venture contract renegotiation Shell Martinez Refinery Brownfield Services contract extension ConocoPhi
Slide 7: Our Attributes
il WorleyParsons resources & energy Our Attributes
Slide 8: Working Across all Phases of an Asset's lifecycle
Working Across all Phases of an Asset’s lifecycle Successful delivery – large and small 8
Slide 9: What Makes Us Different?
What Makes Us Different? Committed empowered and Comprehensive technically capable people geographic presence Outstanding Industry leadership operational in health, safety and corporate and environmental performance performance Success in project Focus on long-term delivery – large contracts and and
Slide 10: What Makes Us Different?
What Makes Us Different? Committed empowered and Comprehensive technically capable people geographic presence Outstanding Industry leadership operational in health, safety and corporate and environmental performance performance Success in project Focus on long-term delivery – large contracts and and
Slide 11: Our Geographic Presence
Our Geographic Presence 2002 11 4,000 personnel | 37 offices | 14 countries
Slide 12: Our Geographic Presence 2004
… Our Geographic Presence 2004 12 4,500 personnel | 52 offices | 18 countries
Slide 13: Our Geographic Presence 2006
… Our Geographic Presence 2006 13 14,300 personnel | 94 offices | 30 countries
Slide 14: Our Geographic Presence 2008
… Our Geographic Presence 2008 14
Slide 15: Our Growth
WorleyParsons Our Growth resources & energy Pant i os EcoNomics
Slide 16: Our Long Term Contracts
Our Long Term Contracts Improve is a service focused on improving our customers’ business outcomes. It is a tailored service to meet the needs of individual sites. 16
Slide 17: EcoNomics is our range of sustainability services and technologies
EcoNomicsTM is our range of services and technologies that profitably embed environmental, social and financial sustainability into project delivery, across the asset life cycle.
Slide 18: Strategy Update
il WorleyParsons resources & energy Strategy Update
Slide 19: The Hedgehog and The Fox
The Hedgehog and The Fox Foxes pursue many ends at the same time and see the world in all its complexity. They are “scattered or diffused, moving on many levels”. Hedgehogs understand that the essence of profound insight is simplicity. Hedgehogs see what is essential, and ignore the rest. Source: Go
Slide 20: Strategy Process
Strategy Process Process is well developed Includes a comprehensive analysis of sector / industry Hydrocarbons Power Minerals & Infrastructure & Metals Environment Assessment of current capabilities Matches industry analysis with capability Strategy at customer sector / industry level – Re
Slide 21: Hydrocarbons Trends
Hydrocarbons Trends Oil prices near 2004 levels Global energy demand growth has reduced, however long-term fundamentals unchanged Demand for oil & gas will continue to be strong over medium term Difficult and challenging hydrocarbons remain the new frontiers, with gas becoming the greener fu
Slide 22: Our Customers View
Our Customers View “While the current oil prices pose some challenges for the industry globally, we expect our activities and operations to proceed as planned and don’t expect delays.” Olivier Lazare, New Business Development VP “You can make a great return (in oil sands), double-digit, well above o
Slide 23: Power Trends
Power Trends Global power generation demand continues to grow Large investments in power generation by utilities and governments to meet demands Customer uncertainty on technology and carbon trading, creating strong shift towards greener solutions Increasing focus on energy efficiency, nucle
Slide 24: Minerals & Metals Trends
Minerals & Metals Trends Significant curtailment of capital expenditure across the industry – particularly Australia and FSU Opportunities for growth in Middle East, Africa and South America Customers deferring capital expenditures to focus on optimising input costs – creating Select opportuni
Slide 25: Infrastructure & Environment Trends
Infrastructure & Environment Trends Economic stimulus funding programs, particularly US and Australia offer public sector infrastructure opportunities Customer base has shifted from resource to public sector Opportunities remain in several emerging markets, as economies urbanise Increasing f
Slide 26: Customer Perspectives
Customer Perspectives How have they changed? Now taking a longer term view on investments Optimising existing assets Focusing on capital efficiency Standardising – maximising economies of scale Downsizing and outsourcing Focusing on sustainability Majority of tier one customers are takin
Slide 27: How Are We Responding
How Are We Responding Remaining true to our Retaining and building vision and values on our differentiators 9 Successful past Our strategy process is 9 Resilient achieving these outcomes 9 Foundation for the future 27
Slide 28: How Are We Responding
… How Are We Responding Select – maximising our customers’ return on investments by optimising delivery solutions Deliver – offering high value, integrated design, procurement, construction management services through our workshare capability Improve – delivering world class capital effectiven
Slide 29: Building a Hedgehog Position
Building a Hedgehog Position 29
Slide 30: Outlook
WorleyParsons resources & energy Outlook
Slide 31: Outlook
Outlook Despite some projects and sectors being affected by the global economic crisis the outlook in other sectors remains positive. We expect some recently announced contract awards, amongst the largest in the company’s history, will support earnings in the 2010 financial year and beyond. We conti
Slide 32: Leadership
Leadership We are taking an active part in shaping the future. Watch this space…. 32
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