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Financial performance

Petrofac's financial performance for the last five years. 

 
  2019 2018 2017 2016 2015
Revenue (US$ million) 5,530 5,829 6,395 7,873 6,844
Backlog (US$ billion) 7.4 9.6 10.2 11.7 17.6
EBITDA (US$ million)1 559 671 748 704 312
Diluted earnings per share (cents)2 80.4 106.2 100.9 93.3 2.6
Net profit (US$ million)1,2
 276 353 361 320 9
Return on capital employed 23% 26% 22% 12% 3%

 

  1. Business performance before exceptional items and certain re-measurements
  2. Attributable to Petrofac Limited shareholders

 

Cash flow and liquidity (as at 31 December 2019) 

US$m 2019 2018
Opening net cash / (debt) 90 (612)
EBITDA 1 559 671
Movement in working capital  (179) (15)
Tax and net interest paid 5 (179) (168)
Capex (92) (98)
Other cash flows (incl divestments) 29 531
Free cash flow 2 138 921
Dividend (129) (128)
Other cash flows from financing activities (84) (91)
Cash (outflow) / inflow (75) (702)
Closing net cash 15 90

 

Liquidity (US$m) 3

Disposal proceeds (US$m) 4

 

References

  1. See A3 in Appendix A to the consolidated financial statements

  2. See A6 in Appendix A to the consolidated financial statements

  3. Gross liquidity comprises readily available cash plus undrawn committed facilities

  4. Firm consideration relates to sale of 51% interest in Mexico operations

  5. Net finance expense in 2019 was US$46 million (2018: US$64 million)

 Download the 2019 financial statements (PDF)