Slide 1: Full Year Results 30 June 2003
Full Year Results 30 June 2003 John Grill, Chief Executive Officer David Housego, Chief Financial Officer ¥-Sept-03 | ...iCO#CO#é#.CN#COCON((OO’#CNOi#NONOd®#.NCUON#(N(Uwié#..(C( Otié#CCON#(C(Uwiw#d##é.éwON(iCCOCCOCCCCOiCO(C(WiCNCCCt
Slide 2: Background
Background @ Leading professional services provider to the Energy, Resource and Complex Process Industries @ All phases of projects 1 2 3 4 5 IDENTIFY SELECT DEFINE EXECUTE OPERATE Licences Appraisal Asset Dev't Plans Detailed Design Maintain Exploration |p| Concept Eng’g Lei Front-end Design L-p Co
Slide 3: 2003 Performance
2003 Performance @ Record result ~ Net profit up 46.2% ~ Net profit up 38.3% ex Atria @ Organic result ® Increasing diversification ~ Minerals & Metals ~ Infrastructure ~ International ® Joint ventures performing well ~ Transfield Worley / WABB / TIGA (Bayu Undan)
Slide 4: 2003 Performance
2003 Performance ® Alliance uptake increasing ~ Long term contracts approximately 40% ~ Minerals & Metals @ Development business established ~ Esperance Energy Project ~ Exmouth negotiations ~ Next steps being developed @ Evaluated a number of opportunities and concluded two ~ MEG Worley ~ Jones & J
Slide 5: 2nd Half Wins (since previous ASX announcement)
2nd Half Wins (since previous ASX announcement} IDENTIFY Licences Exploration Strategic Fit 4 _ Murphy OF Ma’aden Refinery ‘ BHPB SELECT Appraisal “at Concept Eng’g Uncertainty Mat Aughinish Study t Chemeg DEFINE 3 Asset Dev't Plans Front-end Design Contract Strategy Jones & Jones: Sterlite Petrovie
Slide 6: 2003 Financial Performance
2003 Financial Performance Aggregated Revenue EBITDA EBIT Margin % Net Profit Margin % Dividend (cents per share) Basic earnings per share before amortisation of trade name and goodwill (cents per share) Basic earnings per share (cents per share) Atria profit impact $1.4m Ex Atria net growth 38.3% F
Slide 7: Oil & Gas
Oil & Gas international Business @ South East Asia delivered excellent results ~ Malaysia / indonesia / Brunei @ Strong result in Saudi Arabia (MPP) @ Other Middle East affected by the iraqi situation @ TIGA joint venture; successful installation of the Bayu Undan offshore platforms and facilities
Slide 8: Oil & Gas
Oil & Gas @ integrated services contracts with Woodside, Esso BHP Billiton and Shell Todd (NZ) performed in line with expectations @ The Australian oil & gas business provided a number of challenges during the year @ The US business was affected by delays in the mobilisation and commencement of proj
Slide 9: Refining, Petrochemical & Chemicals (RPC)
Refining, Petrochemical & Chemicals (RPC) @ Revenue 2000 2003 $12.5m $30.8m 2.5% @ Growth in international markets is strong ~ Malaysia ~ Saudi Arabia ~ Building on reputation @ Australian/New Zealand industry conditions challenging ~ Transfield Worley relationship excellent ~ Strong Alllance/ISC pr
Slide 10: Minerals & Metals
Minerals & Metals @ Revenue 2000 2003 $10.00m $66.9m 6.5x Outstanding performance e Alllance uptake encouraging ~ WMC ~ Worsley ~ Hydro ~ Tomago ® Large project capability enhanced ~ ANC for Leightons ~ Comaico CAR for Bechtel @ Recognised capability in aluminium / alumina ~ Comaico CAR ~ Sterlite -
Slide 11: Industrial & infrastructure
Industrial & infrastructure @ Revenue 2000 2003 $18.6m $59.0m 3.2x @ Expansion continues @ Capability primarily in ~- industriel —- Chemeq ~ Rail — Rolling stock ~ Power generation and distribution ~ Water @ BOC Alliance — South East Asia (2004) @ (Integrated delivery with other sectors ~ Constructi
Slide 12: Developments
Developments ® Esperance Energy Project ~ Financial close 28 February 2003 ~ Project at 50% completion ~ Commercial operation ~ second half 2004 Financial Year ® Exmouth ~ Preferred bidder (Power Station only} ~ Power Purchase Agreement (PPA) negotiations underway ~ Financial close expected in 2004
Slide 13: Acquisitions
Acquisitions A number of options considered through 2003 e® MEG Worley ~ 50% shareholder in Macdonald Engineering Group, Calgary, Canada ~ Tar sands / heavy oll (domestic and international) ~ Add larger project capability / international network - Alliance culture ~ Consideration $3.3m- 1 August 200
Slide 14: Financial Ratios
Financial Ratios Pro forma Forecast Actual 2002 IPO. 2003 $m $m $m Summary of cash flows . Working Capital Improvement Operations 29.7 <i37 2909 > Less Tax Paid Investing (6.3) (13.9) C6.7p Financing (4.2) (4.5) (5.3) Esperance Timing Net 19.2 (4.7) 179 Per share (0.03) 0.12 Ratios/Statistics Effect
Slide 15: Final Dividend
Final Dividend ® Fully franked final dividend — 5 cents per share (as per Prospectus) @ Payable on 13 October 2003 @ Franking position $11.5m (prior to Tax Paid Basis - $26.9m) @ Dividend policy being refined ~ Medium-term acquisition strategy
Slide 16: Outlook 2004
Outlook 2004 @ Expect to deliver further increase in earnings @ Long-term contracts approaching 40% revenue @ 2nd Half weighting ~ Conversion of FEED (2-3) to Detailed Design (4) ~ Alliance start-ups ~ Commercial operation ~ Esperance Energy Project ® Management targets ~ Earnings growth ~ ROE >20%