Annual Report 2018

Group Financial Highlights
Chairman’s Report
- Chairman’s Report
- Board of Directors
Chief Executive Officer’s Review
Operating and Financial Review
Directors’ Report
Environmental, Social and Governance
2018 Annual Report Download Center

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Annual Report 2018

Group Financial Highlights

Chairman's Report

Chairman's Report

Board of Directors

Chief Executive Officer's Review

Chief Executive Officer's Review

Our strategy architecture

Our future

Global Operations and Significant Contract Awards

Group Leadership Team

Environmental, Social and Governance

Operating and Financial Review

1. Operations

2. Financial Position and Cash Flow

3. Business strategy outlook and risks

Operating and Financial Review

Director's Report

Directors Report - Full

Directors' Report

Remuneration Report

1. Remuneration in brief

2. Executive Remuneration in detail

3. Non-Executive Director Remuneration

4. Remuneration Governance Framework

5. Remuneration tables

Financial Statement

Shareholder information

Glossary

Corporate information

Annual Report 2017

Annual Report 2016

Annual Report 2015

Annual Report 2014

Annual Report 2013

Annual Report 2012

Annual Report 2011

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Aggregated Revenue,
EBIT and NPAT
Segment Result
(Aggregated Revenue)
Segment
Result
Sector Result
(Aggregated Revenue)
Sector Result
Aggregated Revenue
By Region
Dividends & EPS
Cash Flow
from Operations

Aggregated Revenue
EBIT
Net Profit After Tax

Services
Major Projects
Improve
Development
Advisian

Services
Major Projects
Improve
Development
Advisian

Hydrocarbons
Minerals, Metals, and Chemicals
Infrastructure
Power

Hydrocarbons
Minerals, Metals, and Chemicals
Infrastructure
Power

Australia, Pacific,
Asia and China
Europe, Middle East
and Africa
Sub-Saharan Africa
Americas

Dividends
Basic EPS

Aggregated Revenue

Key Figures

Aggregated Revenue & EBIT

Aggregated Revenue EBIT Net Profit After Tax

Segments

Services Major Projects Major Projects and Integrated Solutions Improve Development Advisian

Sectors

Hydrocarbons Minerals, Metals, & Chemicals Infrastructure Power

Regions

Australia, Pacific, Asia and China Europe, Middle East and Africa Sub-Saharan Africa Americas

Dividends

Dividends Basic EPS

Cash Flow from Operations

Cash Flow from Operations

Years

2009 2010 2011 2011 Restated 2012 2012 Restated 2013 2013 Restated 2014 2014 Restated 2015 2015 Restated 2016

2016 Restated 2017 2018

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Glossary

Term

Definition

$, $m

Australian dollars unless otherwise stated, millions of Australian dollars.

Americas

Services business line region encompassing sub‐ regions of North America and Latin America.

APAC

Services business line region encompassing Australia, Pacific, Asia and China.

ASIC

Australian Securities and Investments Commission

ASX

Australian Securities Exchange

Backlog

Backlog is the total dollar value of the amount of revenues expected to be recorded for the next 36 months as a result of work performed under contracts or purchase/work orders awarded to the Group. With respect to long term agreements and framework agreements, an amount is included for the work expected to be received over the period under consideration. The view of backlog is sensitive to timing of awards and as such a conservative view of timing has been adopted.

Board

The board of directors of the Company.

CEO

Chief Executive Officer.

Company or WorleyParsons

WorleyParsons Limited ACN 096 090 158.

Downstream

The refining of petroleum crude oil and the processing and purifying of raw natural gas, as well as the marketing and distribution of products derived from crude oil and natural gas.

EBIT

Earnings before interest and tax.

EcoNomics™

Our framework for integrating sustainability into our customers’ projects and operations. That framework assists them in making decisions where trade‐ offs exist between technical, social, environmental and financial performance.

EMEA

Services business line region encompassing Europe, Middle East and Africa.

EPC

Engineering, Procurement and Construction.

EPC contract

Under an EPC contract, we will generally be responsible for the design of, the procurement of equipment and materials for, and the construction and commissioning of, an asset, such as a power station. This will generally require us to ensure that the completed asset meets certain specified performance targets. To do so, we will generally procure the necessary equipment and materials and engage various sub‐ contractors ourselves.

EPCM

Engineering, Procurement and Construction Management.

EPCM contract

Under an EPCM contract, we will generally be responsible for providing our professional services, but unlike an EPC contract, will not be responsible for delivering a completed asset to our customer. Instead, we will provide engineering and design services to our customer, procure equipment but only as agent for our customer and manage our customer’s other suppliers as the customer’s representative. We will generally be paid an hourly rate for the services we provide.

EPS

Earnings per share. Determined by dividing the Group NPAT by the weighted average number of the Company’s ordinary shares on issue during the financial year.

Executive

Executives include both executive directors and group executives and have authority and responsibility for planning, directing and controlling the activities of the entity, directly or indirectly.

Front end engineering design (FEED)

Basic engineering design providing owners and their financiers with information enabling them to determine whether or not, and if so how, to commit resources to a proposed project to maximize its projected returns.

FY2017 and FY2018

financial year 2017 and financial year 2018.

Group

WorleyParsons Limited and the entities it controls.

Group net proft after tax (NPAT)

The net profit earned by the Group after deducting all expenses including interest, depreciation and tax. From time to time, in determining outcomes under the incentive plans, the Board may use its discretion to apply the underlying NPAT which in the Board’s opinion reflects the Company’s operating results.

HSE

Health, Safety and Environment.

Key management personnel (KMP)

Those persons having authority and responsibility for planning, directing and controlling the activities of the entity, directly or indirectly, including any director (whether executive or otherwise) of that entity. KMP comprise Executives and Non‐ Executive Directors.

Midstream

The transport (by pipeline, rail, barge or truck), storage, and wholesale marketing of crude or refined petroleum products.

MMO

Maintenance, Modifications and Operations activities.

Non-executive director (NED)

Non‐ executive directors of the entity have authority and responsibility for planning, directing and controlling the activities of the entity, directly or indirectly.

OneWay™

Our enterprise‐ wide integrity management framework which establishes our corporate expectations for Zero Harm to our business.

Total shareholder return (TSR)

Provides a measure of the change in the value of the Company’s share price over a period, including reinvested dividends, expressed as a percentage of the opening value of the shares.

Upstream

The searching for potential underground or underwater crude oil and natural gas fields, drilling of exploratory wells, and the subsequent drilling and operation of the wells that recover and bring the crude oil and/or raw natural gas to the surface.

Mark Trueman
Director, Investor Relations

Phone +61 8456 7256

Mobile +61 437 991 524

Geoff Fowlstone
Fowlstone Communications

Ph: +61 2 9955 9899
Mob: +61 413 746 949