Strategy

Our strategic priorities

We are pursuing a clear and focused strategy. Our strategic priorities are:

  1. Best in class delivery
  2. Position for growth
  3. Enhance returns

 

Best in class delivery, actively seeking to enhance our sources of competitive advantage by:

  • Improving cost competitiveness
  • Driving digitisation
  • Increasing local content
  • Investing in talent


Position for growth as tendering in our markets increases by:

  • Expanding into complementary sectors in both E&C and EPS:
    • E&C: focused on taking market share in refining, petrochemicals and offshore wind
    • EPS: pursuing more brownfield projects and modifications as well as decommissioning and well P&A work
  • Continuing to increase our presence in growth geographies like South East Asia, India, CIS, East Africa and the Americas
  • Good progress in 2018, winning US$1.9 billion of awards in growth markets


Enhance returns for our shareholders by:

  • Completing our return to a capital light business model through additional non-core asset divestments
  • Optimising working capital management to maximise cash conversion
  • Maintaining a strong balance sheet and investment grade rating
  • Returning cash to shareholders in line with our dividend policy

Our success rests on building trusted, long-term client relationships, and our focus remains on delivering best in class project execution, cost control and effective risk management, building on our track record in core markets to win new business and strengthen our position.

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