Financial performance

	notes	2012	2011	2010	2009	2008

Revenue (US$ million)		6,324	5,801	4,354	3,655	3,330
Backlog (US$ billion)	1	11.8	10.8	11.7	8.1	4.0
EBITDA (US$ million)	2,3	888.0	759.4	634.4	549.7	419.0
Earnings per share (diluted) (cents)	3	183.88	157.13	126.09	103.19	77.11
Net profit (US$ million)	4	631.9	539.4	433.0	353.6	265.0

Backlog consists of the estimated revenue attributable to the uncompleted portion of lump-sum engineering, procurement and construction contracts and variation orders plus, with regard to engineering, operations, maintenance and Integrated Energy Services contracts, the estimated revenue attributable to the lesser of the remaining term of the contract and five years. Backlog will not be booked on Integrated Energy Services contracts where the Group has entitlement to reserves. The Group uses this key performance indicator as a measure of the visibility of future revenue.
EBITDA is calculated as profit before tax and net finance income, but after our share of losses from associates (as per the consolidated income statement) adjusted to add back charges for depreciation, amortisation and impairment (as per note 3 to the financial statements).
Excludes the gain on the EnQuest demerger in April 2010.
Profit for the period attributable to Petrofac Limited shareholders, excluding the gain on the EnQuest demerger in April 2010.
The group reports its financial results in US dollars and, accordingly, will declare any dividends in US dollars together with a Sterling equivalent. Unless shareholders have made valid elections to the contrary, they will receive any dividends payable in Sterling. Conversion of the 2012 final dividend from US dollars into Sterling is based upon an exchange rate of US$1.5142:£1, being the Bank of England Sterling spot rate as at midday on 26 February 2013.

Petrofac worldwide