• Large international service provider to the oil & gas, petrochemical and renewable energy industries
  • 38-year track record of successful execution in designing, building, operating and maintaining innovative, high-value projects tailored to our clients’ needs
  • Diverse client portfolio, including many of the world’s leading integrated, independent and national energy companies

Strong competitive position underpins sector-leading margins

  • Cost-effective local delivery capability supported by value engineering centres
  • Expert and highly experienced locally-based workforce
  • Established access to global and regional supply chains
  • Commitment to HSSEIA at the core of our sustainable business model

Positioning for growth

  • Contractor of choice in resilient, low marginal cost MENA markets
  • Expanding presence in growth geographies, particularly South East Asia, India, CIS, East Africa and the Americas
  • Taking share in adjacent sectors, such as refining, petrochemicals, offshore wind and late life asset management
  • Robust long-term market fundamentals

Capital light business model and strong balance sheet

  • Returned to low capital intensity business model following successful non-core asset divestments
  • Strong balance sheet and liquidity
  • Investment grade credit rating
  • Rigorous focus on working capital optimisation

Track record of returns through the cycle

  • Excellent long-term returns: total shareholder return1 of 244% since IPO in 2005, vs 54% for European oil & gas peers2
  • Delivering high returns on capital: ROCE3 of 26% in 2018
  • Track record of returning cash to shareholders in line with attractive dividend policy


1 Source: Bloomberg, total shareholder return (gross dividends) 31/10/2005-12/03/2019

2 STOXX Europe 600 Oil & Gas index

3 EBITA divided by average capital employed (total equity and non-current liabilities) adjusted for gross-up of finance lease creditors


Market outlook

Long-term market fundamentals remain robust

Key performance indicators (KPIs)

We monitor and assess our performance by using stretching targets that help us deliver value