Slide 1: Full Year Results
For personal use only Full Year Results John Grill – Chief Executive Officer David Housego – Chief Financial Officer 12 August 2008
Slide 2: Background
Background For personal use only X Leading professional services provider to the Energy, Resource and Complex Process Industries X Across all phases of projects X Organized into four Customer Sector Groups: • Hydrocarbons | Power | Minerals & Metals | Infrastructure & Environment X Ranked as #7 Glob
Slide 3: Financial Highlights
Financial Highlights For personal use only X Full year net profit up 53.0% to $343.9 million X Full year EBITDA growth of 66.1% to $587.0 million X Second half EBITDA growth of 23.1% X Basic EPS up 40.0% to 142.5 cents per share X EBITDA and net margin expansion X Final dividend increased to 47.5 ce
Slide 4: Operational Highlights
Operational Highlights For personal use only X Significant second half contract awards confirm strategy is on track • Subsea and deepwater capability next Hydrocarbons step • World class systems recognized by clients X 19 Mega-Projects with Total Installed Capital (TIC) >$1 billion are underway X “P
Slide 5: Operational Highlights
Operational Highlights For personal use only X New group management structure to support current market and position for future growth • Importance of customer sector groups reinforced • Importance of Mega-Projects and • Number of regions increased to five; senior management rotation X Acquisition o
Slide 6: Global Reach
Global Reach For personal use only 32,200 project services personnel | 118 offices | 38 countries 6
Slide 7: ASX Contract Announcements
ASX Contract Announcements1 For personal use only X EPMS contract to support BP's offshore facilities X EPTS services contract to Exxon Neftegaz Limited (ENL) for Arkutun-Dagi offshore platform X EPMS contract for Woodside’s North Rankin 2 Project X Select study for Chemaweyaat chemical complex X EP
Slide 8: Solid Contract Flow in 2008
Solid Contract Flow in 2008* For personal use only IDENTIFY Saudi Landbridge LNG Regasification Terminal – Jurong Island, Singapore New Nuclear Plant Bankable Feasibility Study, Russia 1 Gas network and Compressor Station, UAE Galichyna - Sulphur Removal Unit PowerGas, Flagship Singapore LNG Project
Slide 9: Contract Profile
Contract Profile For personal use only IDENTIFY Global water sustainability policy analysis – Statoil Oil sands mining operations, GHG and water optimisation – Total 1 Water Use Options – major oilfield development, Statoil National landfill biogas management strategy, UK Airport development options
Slide 10: Financial Analysis
For personal use only Financial Analysis David Housego – Chief Financial Officer 10
Slide 11: Financial Profile
Financial Profile For personal use only $m 2002 2003 2004 2005 2006 2007 2008 Vs. 2007 Aggregated Revenue 437.8 474.4 514.8 1,379.5 2,464.4 3,534.6 4,900.7 38.6% EBITDA 33.5 41.5 49.0 117.0 219.9 353.4 587.0 66.1% EBITDA margin 7.7% 8.7% 9.5% 8.5% 8.9% 10.0% 12.0% 2.0 Net profit 17.7 25.9 30.7 66.5
Slide 12: Change in Net Profit by Segment
Change in Net Profit by Segment For personal use only 500.0 22.2 (26.4) 450.0 38.3 (12.0) (18.8) 4.1 (61.1) 172.9 400.0 343.9 350.0 300.0 A$M 250.0 224.8 200.0 150.0 100.0 50.0 0.0 2007 Hydrocarbons Power Minerals & Infrastructure & Intangibles Corporate Net Interest Income Tax 2008 Metals Environme
Slide 13: Financial Ratios
Financial Ratios For personal use only Net profit $m Net Profit Margin % 343.9 7.0 6.4 224.8 6.0 5.6 139.1 4.8 66.5 30.7 2004 2005 2006 2007 2008 2004 2005 2006 2007 2008 H1 H2 Return on Equity % X Excellent group margin result in 2008 32.1 31.3 • Strong performances in Canada and Australia 24.5 24.
Slide 14: FX Translation Impact
FX Translation Impact For personal use only Aggregated Revenue 2008 Movement in major currencies Asia, Middle East & Africa Australia & 130.0 15% New Zealand 27% 125.0 Europe 120.0 11% 115.0 110.0 Americas 105.0 18% Canada 100.0 29% 95.0 Aug-06 Apr-07 Aug-07 Apr-08 Jun-06 Oct-06 Dec-06 Feb-07 Jun-07
Slide 15: Cashflow
Cashflow For personal use only 2008 Operational Cash Inflows A$m 2008 Operational Cash Outflows A$m EBITDA 587.0 Increased working capital 250.8 Net interest paid (29.7) Property, equipment & systems 79.0 Tax paid (107.7) Dividends paid (incl. minority interest) 173.9 449.6 503.7 Net increase in bor
Slide 16: Debt Profile
Debt Profile For personal use only Debt Maturity Profile Liquidity Summary A$m 600.0 Total bank facilities 1,292.3 500.0 Less: facilities utilized (883.8) AUD $M Equivalent 400.0 Available facilities 408.5 300.0 Plus: cash 82.2 200.0 Total liquidity 490.7 100.0 • Facility utilization: 68% - < 1 yr 1
Slide 17: Other
Other For personal use only X Final dividend declared of 47.5 cps; 71% (33.7 cps) franked • To be paid on 10 October; record date 12 September X Assets Held For Sale • WA power stations • NBV $31.6m X LTI award for 2008 financial year 100% vested • Three year EPS hurdle rate remains at 20% growth X
Slide 18: Customer Sector Group Review
For personal use only Customer Sector Group Review John Grill – Chief Executive Officer 18
Slide 19: Hydrocarbons
Hydrocarbons For personal use only X Revenue $3,612.5m, up 40%. EBITDA $436.3m, Aggregated revenue up 65%. EBITDA margin 12.1% (2007: 10.2%) X Significant move into offshore deepwater market 4,000 • INTEC and SEA combination 3,500 • BP Global offshore contract award 3,000 X 2 world class offshore pl
Slide 20: Power
Power For personal use only X Revenue $469.2m, up 7%. EBITDA $66.1m, up Aggregated revenue 4%. EBITDA margin 14.1% (2007: 14.5%) X Some growth in 2008 with Power segment most 500 450 affected by lower US dollar X Market still shows increased demand for 400 350 electricity BUT also increased demand f
Slide 21: Minerals & Metals
Minerals & Metals For personal use only X Revenue $471.1m, up 61%. EBITDA $86.3m, Aggregated revenue up 97%. EBITDA margin 18.3% (2007: 14.9%) X Continued strong performance in 2008 500 X Solid performance on major project delivery in 450 400 the year X "Pit to Port" capability enhanced through 350
Slide 22: Infrastructure & Environment
Infrastructure & Environment For personal use only X Revenue $342.6m, up 56%. EBITDA $49.9m, Aggregated revenue up 124%. EBITDA margin 14.6% (2007: 350 10.2%) X Strong result on major resource projects 300 • FMG 250 • Ma’aden Phosphate; Saudi Arabia $m • EMAL; United Arab Emirates 200 X Number of Se
Slide 23: Summary
Summary For personal use only “Our clients continue to deploy more capital into their existing assets and remain committed to developing new facilities” X Delivered another outstanding result in 2008 X Capability shift recognized by clients • • Mega-Projects and • Supported by world class project sy
Slide 24: Outlook
Outlook For personal use only We expect the markets for WorleyParsons’ services will remain strong. Our key markets and sectors continue to experience positive conditions and we are well positioned to respond to these opportunities. Subject to conditions remaining favourable we expect to achieve inc