We are delivering our strategy of focusing on our core strengths

We have:

  • Won US$2.7 billion of new orders in key geographies in the year to 30 August 2017, evidence of our continued competitiveness in challenging markets
  • Taken a range of measures to strengthen the balance sheet and reduce net debt
  • Delivered good operational performance in our core businesses

We are focused on cash generation, reducing capital intensity and maintaining a strong balance sheet

In 2016 we:

  • Exceeded expectations in cash conversion, driven by strong working capital management
  • Reduced capex by 18%
  • Reduced net debt by 10%
  • Exited Ticleni and Berantai, releasing US$300m in proceeds

Review our key performance indicators to find out more

We are well positioned in challenging markets and for a recovery in our core markets

The outlook for the future is good:

  • Our backlog gives good revenue visibility for the medium-term
  • Our operational excellence initiatives are protecting margins and reinforcing our competitive position
  • Bidding activity remains high, but competitive
  • We are maintaining our bidding discipline

With good visibility of revenues for 2017, and strong credentials in promising sectors of the market, we have a resilient business that is well positioned for the future.

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