Full Year 2025 Worley Ltd Earnings Call Transcript
Key Points
- Worley Ltd (WYGPF) reported a 4% increase in aggregated revenue and a 10% growth in underlying EBITA for FY25, marking the fourth consecutive year of growth.
- The company achieved an underlying EBITA margin of 9.2%, exceeding their outlook expectations of 8% to 8.5%.
- 60% of Worley Ltd's revenue in FY25 was derived from sustainability-related work, up from 52% in FY24, highlighting their strategic focus on sustainability.
- Worley Ltd has maintained a strong balance sheet with good cash generation and excellent liquidity, supporting their growth initiatives.
- The company has a diversified business model and strong customer relationships, with 45% of work awarded on a sole-source basis, demonstrating trust in their capabilities.
- The operating environment remains challenging due to geopolitical tensions, trade tariff volatility, and macroeconomic pressures.
- The Chemicals sector experienced lower levels of activity, impacting overall performance in this area.
- Despite a strong backlog, the company noted the cancellation of the $1.6 billion Northvolt - Sweden battery materials project earlier in the financial year.
- Worley Ltd's professional services revenue declined by 9% in FY25 due to project mix changes.
- The company faces uncertainty in the market due to unexpected changes in US policy and geopolitical factors, which could impact future growth.
Good morning. Thank you for standing by. Welcome to the Worley full-year 2025 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.
Welcome, everyone. Thanks for joining Worley's full-year results for the financial year ending June 30, 2025.
I'm really pleased to be presenting these today with Justine Travers, her first results as Worley's CFO.
Today, I'll share an overview of the business performance over the period. Justine will provide details on our financial results, before I conclude with an update on our strategy and our outlook. And then, of course as usual, we'll be open for questions.
Moving on to slide 2, just to remind you of the disclaimer shown here.
Before I begin, I just want to acknowledge the Gadigal people of the Eora nation as the traditional custodians of the land on
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