2024年第一季度交易更新

提高盈利能力

约翰伍德集团(John 木 集团 PLC)木’ or ‘该集团')公布截至2024年3月31日的季度交易更新('Q1’).

首席执行官肯•吉尔马丁表示:

“We are now in the second year of our growth strategy and are making good progress, EBITDA增长, 利润率扩大，订单量比去年同期增长9%. 我们继续在能源和材料领域赢得令人兴奋和复杂的工作, 可持续解决方案占我们产品线的40%.

“We are progressing with our Simplification programme and have made some significant appointments this year including welcoming Arvind Balan as our new CFO. I am proud of the strong leadership team we have in place and confident that we will deliver on our significant potential. We are today reiterating our EBITDA guidance for 2024 and our outlook for 2025 ”

组织性能

第一季度调整后EBITDA was up 4% with margin expansion across all of our business units offsetting lower revenue. This margin performance was helped by both improved pricing and our strategic focus on building a higher quality business, 我们不再做EPC工作了.

第一季度的收入 13.56亿美元下降了6%吗¹ 与1美元相比,2023年第一季度为4.63亿美元, 业务收入的增长被项目收入的下降所抵消, mainly reflecting lower pass-through activity and lower EPC revenue in line with our strategic shift.

我们的 订单 2024年3月31日为6美元.20亿美元，比2023年3月增长9%.

咨询

咨询业务在第一季度的收入仅为2%，但利润率却有所提高² 低于1.7亿美元, with strong growth in digital consulting offset by the phasing of work in technical consulting and our energy asset development business.

咨询’s 订单 saw double-digit growth compared to a year ago which will support stronger revenue growth as the year progresses. Key wins in the quarter include being selected by 木side Partners as the consultant for the Greater Sunrise development in Asia-Pacific, a blue-hydrogen ready unit in Europe and several digital consultancy scopes for BP and National Gas.

项目

第一季度收入下降了15%² to $518 million, mainly reflecting lower pass-through revenue and the roll-off of EPC work. 不包括这些，收入下降了1%.5% with good growth in oil and gas offset by weakness in the minerals market. 利润率高于去年，反映了收入组合.

Project’s 订单 was lower than a year ago and is expected to recover in the second half of the year, 在接下来的几个月里，将有大量的机会等待授予. Key business wins in the period included a detailed engineering design scope for 木side’s Trion project in the Gulf of Mexico and an EPCm contract with Antofagasta for its Nueva Centinela copper project in Chile.

操作

第一季度收入增长了5%¹ to $624 million, with higher activity levels across Europe and the Middle East. 利润率也更高, with strong business performance and our shift towards higher value services.

与一年前相比，运营订单出现了两位数的增长, with both strong demand for our services and significant renewals secured towards the end of last year. Key business wins in the period included a decarbonisation contract with TotalEnergies for flare gas recovery in the UK North Sea and a contract to deliver maintenance and modifications for Equinor in Brazil.

投资服务

第一季度收入下降了32%² 至4400万美元, mainly reflecting the expected run-down of activity in our facilities business as we exit this business.

简化计划进展顺利

2024年3月, we launched our Simplification programme to drive higher margins over and above our pre-existing strategic plans. 本方案包括:

• 第一阶段: reducing central costs by putting greater ownership and accountability for functional activities into the business units, 减少核心功能角色的数量
• 第二阶段: reducing complexity in our processes and procedures, and reducing external support costs

This programme is expected to generate total annualised savings of around $60 million from 2025, 到2024年将节省约1000万美元. 今年到目前为止，我们取得了良好的进展，已经完成了第一阶段, 减少核心功能角色的数量. 这一阶段将产生周围
每年节省2500万美元.

全年展望

We continue to expect high single digit growth in adjusted EBITDA, before the impact of 处置. 业绩将以下半年为准。, reflecting the typical seasonality of our business and the phasing of the in-year benefit of the Simplification programme.

我们的经营性现金流表现预计将继续改善, 部分是通过改善我们整个业务的现金管理, especially given the second half weighted revenue profile of 该集团 this year. Exceptional cash flows will be in line with our previous guidance, and weighted to the first half.

Net debt at 31 December 2024 is expected to be at a similar level to 31 December 2023 after the proceeds from planned 处置, 哪些项目将在今年下半年完成.

2025年前景

We continue to expect EBITDA growth in 2025 to exceed our medium-term target, with the annualised benefits from our Simplification programme of around $60 million on top of growth consistent with our strategy. With this improving profitability and continued improvements in cash conversion, 我们预计将在2025年实现可观的自由现金流.

电话会议

A webcast and conference call will be held today at 8:00am (UK time) with Ken Gilmartin (CEO) and Arvind Balan (CFO). 网络直播将在 http://edge.media-server.com/mmc/p/k5tz49xm.

如欲参加电话会议并提出任何问题，请通过以下方式注册:

http://register.vevent.com/register/BI468ec546a3194b55b8e97a2a6cdf38cf.

网络直播和文字记录将在活动结束后提供 onecard.chinaartune.com/investors.

欲知更多资料:

Simon McGough, President, Investor Relations                +44 (0)7850 978 741

Vikas Gujadhur, Senior Manager, Investor Relations         +44 (0)7855 987 399

Alex Le May / Ariadna Peretz, FTI 咨询                    +44 (0)20 3727 1340

笔记

1. 不包括2023年3月出售的墨西哥湾劳动力业务. 它在2023年第一季度贡献了2100万美元的收入.
2. Like-for-like growth adjusted for businesses moved within business units in the period: part of our 生命科学 business was transferred from 咨询 to 项目, and our 权力 business in the UK was transferred from 项目 to 投资服务.

附录
获利预估

1. 木材利润预测

   2024年3月26日, 截至2023年12月31日止年度的全年业绩公告, 伍德提供了以下指导, 就《10bet十博注册网站》而言(“Code)构成盈利预测(“获利预估”):

   “简化程序以提高效率

   • 目标是从2025年起每年节省约6000万美元
   • Initial focus on central costs, with benefit within FY24 expected to be around $10 million
   • 是否会提高息税前利润和息税前利润，以及未来的现金产生能力
   • 现金成本完成c. 未来12个月7000万美元，特殊P&24财年的L费用”

   --

   “ Upgraded 2024 outlook - Adjusted EBITDA growth towards the top end of mid to high single digit target (before 处置)

   • Margin expansion driven by topline growth, evolving business mix and improved pricing, plus c. 简化计划每年可带来1,000万元的效益
   • 业绩将以下半年为准。, reflecting the typical seasonality of our business and the phasing of the in-year benefit of the simplification programme”

   --

   “上调中期展望

   • 简化计划预计将增加我们的增长潜力, 导致2025年的EBITDA增长高于我们的中期目标
   • We will continue to expand our EBITDA margin and that benefit will translate into our EBIT margins and support a significant increase in our earnings per share over the medium term

   Certain elements of the 获利预估 are referred to in this announcement.

2. 编制依据

   The 获利预估 are based on the current internal forecasts for the remainder of the year ended 31 December 2024 and the period from and including 1 January 2024 to and including 31 December 2025 (as applicable) in respect of John 木 集团 PLC and its subsidiaries (the "集团").

   The basis of accounting used for the 获利预估 is consistent with 该集团's existing accounting policies, 哪些符合英国采用的国际会计准则, 《10bet十博网址》国际财务报告准则") as adopted by the European Union and 国际财务报告准则 as issued by the International Accounting Standards Board, the accounting policies which were applied in the preparation of 该集团's financial statements for the year ended 31 December 2023 and the accounting policies which are expected to be applied in the preparation of 该集团's financial statements for the year ending 31 December 2024.

   The 获利预估 have been prepared on the basis referred to above and subject to the principal assumptions set out below. The 获利预估 are inherently uncertain and there can be no guarantee that any of the factors referred to under paragraph 3 (Principal Assumptions) will not occur and/or, 如果有的话, 对集团经营业绩的影响, 财务状况或财务业绩, 可能是物质的. The 获利预估 should therefore be read in this context and construed accordingly.

3. 主要的假设

   In confirming the 获利预估 remain valid, the directors of 木 (the "木头董事") have made the following principal assumptions in respect of the remainder of the year ended 31 December 2024 and the period from and including 1 January 2024 to and including 31 December 2025:

   不受木董事影响或控制的因素:

   • no material change to 该集团's assumptions in the forecast period for growth of 该集团's business;
   • no material change to 该集团's assumptions in the forecast period in relation to 该集团's ability to access addressable markets through its capabilities, 营业地点和与主要客户的关系;
   • no material change to 该集团's assumptions in the forecast period in relation to 该集团's current cost savings plan related to the Simplification programme;
   • 从2025年起，实现每年节省约6000万美元的预期目标, 2024年将获得约1000万美元的收益;
   • 集团历史业绩水平无重大变化, 业务改善计划, 以及市场定位;
   • no material adverse events which would have a significant impact on the operating results or financial position of 该集团;
   • no material change in market conditions over the forecast period in relation to 该集团's customers or competitive environment;
   • 客户向本集团付款的平均时间不变;
   • no adverse change to current prevailing global macroeconomic and political conditions (including geopolitical tension, further escalation of conflict or war in or affecting areas where 该集团 operates or intends to operate (or any sanctions imposed in response to any such events)) which is material in the context of the 获利预估;
   • 法例没有改变, taxation or regulatory requirements relating to 该集团 or the legislative or regulatory environment within which 该集团 operates;
   • no change in general sentiment towards 该集团 and/or its operations which has an impact on its ability to attract customers and to operate its business;
   • 没有影响集团的业务中断, 其客户或其他利益相关者(包括, 但没有限制, 任何与大流行有关的封锁和限制或类似措施, 自然灾害, 恶劣天气, 恐怖主义行为, 网络攻击, 劳动力短缺或劳资纠纷);
   • no litigation or contractual disputes which are material in the context of 该集团, other than the ones already dis关闭d to the market and no material adverse outcome from any ongoing or future disputes with any customer, 竞争对手, 供应商, 监管机构或税务机关;
   • 通货膨胀没有实质性变动, 利率, 与本集团估计的税率和外汇汇率比较;
   • 集团现有的债务安排没有变化, or its ability to access external financing; and
   • no change in the accounting standards or policies which were used for the 获利预估.

   受木董事影响或控制的因素:

   • no material change to the strategy, budget or operation of 该集团's business;
   • no material change to 该集团's current cost savings plan related to the Simplification programme;
   • 集团与主要客户的关系无重大变化;
   • 集团没有遇到重大健康和安全问题;
   • 没有针对本集团的重大监管调查;
   • 本集团资本政策无重大变动;
   • 没有计划外的资本支出或重大收购, 处置, 发展, partnership or joint venture agreements being entered into by 该集团 哪些会对集团的收入产生不利影响, expenditure or cashflow which is material in the context of the 获利预估;
   • 无重大收购, 处置, 发展, partnerships or joint venture agreements will be entered into by 该集团 and no existing partnerships or joint venture agreements will be terminated or amended, 在每种情况下, 哪些会对集团的收入产生不利影响, expenditure or cashflow which is material in the context of the 获利预估;
   • no material changes in key management of 该集团; and
   • consistent application of 该集团's accounting policies in the period to 31 December 2025.
4. 董事确认

   The 木头董事 confirm that the 获利预估 remain valid and that they have been properly compiled on the basis of the principal assumptions stated above and that the basis of accounting used is consistent with 木's accounting policies set out above.