Sign In
14 Feb 2012 09:14
Press Release
14 February 2012
PETROFAC LIMITED
RESTATED HISTORICAL RESULTS
Petrofac, the international oil & gas service provider, introduced a new organisational structure during 2011. As previously announced, its 2011 full year results will be reported under the new structure.
The results of the group's two divisions (Engineering, Construction, Operations & Maintenance (ECOM) and Integrated Energy Services (IES)) will be reported under four reporting segments:
·; Onshore Engineering & Construction
·; Offshore Projects & Operations
·; Engineering & Consulting Services
·; Integrated Energy Services
The restated results for the years ended 31 December 2008-2010 and for the six months ended 30 June 2011 are set out below.
Year ended | Year ended | Year ended | Six months ended | ||
31 December | 31 December | 31 December | 30 June | ||
2008 | 2009 | 2010 | 2011 | ||
US$m | US$m | US$m | US$m | ||
Onshore Engineering & Construction | |||||
Revenue | 1,993.5 | 2,509.0 | 3,253.9 | 1,903.7 | |
EBITDA | 252.4 | 337.3 | 471.8 | 248.5 | |
Operating profit | 241.2 | 312.4 | 438.1 | 235.8 | |
Net income | 206.3 | 265.1 | 373.0 | 205.9 | |
Offshore Projects & Operations | |||||
Revenue | 776.6 | 626.7 | 721.9 | 581.0 | |
Pass-through revenue | 221.2 | 190.3 | 195.5 | 97.6 | |
EBITDA | 24.7 | 19.7 | 27.3 | 41.3 | |
Operating profit | 17.8 | 17.8 | 24.5 | 39.2 | |
Net income | 16.4 | 12.8 | 17.2 | 31.8 | |
Engineering & Consulting Services | |||||
Revenue | 235.0 | 114.3 | 173.4 | 96.2 | |
EBITDA | 32.5 | 22.5 | 25.6 | 18.3 | |
Operating profit | 24.4 | 17.8 | 19.8 | 16.5 | |
Net income | 17.5 | 17.4 | 21.1 | 14.8 | |
Integrated Energy Services* | |||||
Revenue | 435.1 | 484.1 | 384.2 | 256.7 | |
EBITDA | 118.6 | 181.0 | 127.7 | 38.1 | |
Operating profit | 75.6 | 94.1 | 73.7 | 20.2 | |
Net income | 37.4 | 61.1 | 38.0 | 6.0 | |
Corporate, consolidation adjustments & eliminations | |||||
Revenue | (110.7) | (78.7) | (179.2) | (126.5) | |
EBITDA | (9.1) | (10.8) | (18.0) | (14.2) | |
Operating profit | (3.4) | (10.1) | (17.6) | (13.9) | |
Net income | (12.6) | (2.8) | (16.3) | (12.2) | |
Total | |||||
Revenue | 3,329.5 | 3,655.4 | 4,354.2 | 2,711.1 | |
EBITDA | 419.0 | 549.7 | 634.4 | 332.0 | |
Operating profit | 355.6 | 432.0 | 538.5 | 297.8 | |
Net income | 265.0 | 353.6 | 433.0 | 246.3 | |
Note: EBITDA and Operating profit includes the Group’s share of losses from associates.
A downloadable version of the above is available on the Petrofac website:
www.petrofac.com/presentations.html.
Ends
For further information contact:
Petrofac Limited +44 (0) 20 7811 4900
Jonathan Low, Head of Investor Relations
Tess Palmer, Investor Relations Manager
Tulchan Communications Group Ltd +44 (0) 20 7353 4200
Stephen Malthouse
Martin Robinson
petrofac@tulchangroup.com
Notes to Editors
Petrofac
Petrofac is a leading international service provider to the oil & gas production and processing industry, with a diverse customer portfolio including many of the world's leading integrated, independent and national oil & gas companies. Petrofac is quoted on the London Stock Exchange (symbol: PFC) and is a constituent of the FTSE 100 Index.
The group delivers services through two divisions: Engineering, Construction, Operations & Maintenance (ECOM - comprising Onshore Engineering & Construction, Offshore Projects & Operations and Engineering & Consulting Services) and Integrated Energy Services (IES). Through these divisions Petrofac designs and builds oil & gas facilities; operates, maintains and manages facilities and trains personnel; enhances production; and, where it can leverage its service capability, develops and co-invests in upstream and infrastructure projects. Petrofac's range of services meets its customers' needs across the full life cycle of oil & gas assets.
With more than 15,000 employees, Petrofac operates out of seven strategically located operational centres, in Aberdeen, Sharjah, Woking, Chennai, Mumbai, Abu Dhabi and Kuala Lumpur and a further 21 offices worldwide. The predominant focus of Petrofac's business is on the UK Continental Shelf (UKCS), the Middle East and Africa, the Commonwealth of Independent States (CIS) and the Asia Pacific region.
For additional information, please refer to the Petrofac website at www.petrofac.com.
Follow the stocks
