Half Year 2026 Worley Ltd Earnings Call Transcript
Key Points
- Worley Ltd (WYGPF) reported a solid revenue growth of 5.4% over the prior corresponding period, demonstrating resilience in challenging market conditions.
- The company secured significant project wins, including being named as EPCM partner for the Alaska LNG pipeline and technical advisor for the WA Westport program, showcasing its capability to execute major complex projects.
- Bookings increased by 63% compared to the prior period, totaling $9.8 billion, indicating strong customer confidence and a robust pipeline of opportunities.
- Worley Ltd (WYGPF) maintained a strong balance sheet with disciplined working capital management, supporting continued investment in growth.
- The company achieved a total recordable frequency rate of 0.10, reflecting a strong commitment to safety and positive ESG progress, including maintaining leading external ESG ratings.
- The company incurred $82 million in transformation and business restructuring costs, impacting statutory net profit after tax.
- Aggregated revenue from the chemicals market declined by 9% due to project cancellations in Western Europe and lower professional services activity.
- The restructuring costs were higher than initially anticipated, particularly in Western Europe, due to severance and related costs.
- There is a potential headwind from foreign exchange rates, which could impact the second half if the Australian dollar remains at current levels.
- The outlook for the oil market remains softer overall, with activity concentrated in higher margin offshore projects and selected onshore developments.
Good morning, and thank you for standing by. Welcome to the Worley half-year 2026 results conference call. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your first speaker today, Chief Executive Officer, Chris Ashton.
Good morning, everybody, and welcome t o the call today. And thanks for joining the half-year results presentation for Worley for 2026 financial year. The results are defined by a solid revenue growth and resilient earnings outcome. Once again showing our adaptability in the face of dynamic markets. As I start my seventh year as CEO, these results continue a pattern of consistent growth, despite market disruptions. Worley continues to deliver a performance reflects deliberate decisions about portfolio, capability, where we compete, and the agility with which we can adjust. And we've a dedica ted team around the world who work to deliver the outcomes that our
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