Wood Group’s Revenue 20 Pct Up, USA

John Wood Group PLC (“Wood Group” or the “Group”) is an international energy services company employing around 43,000 people worldwide and operating in 50 countries. The Group has three businesses – Wood Group Engineering, Wood Group PSN and Wood Group GTS – providing a range of engineering, production support, maintenance management and industrial gas turbine overhaul and repair services to the oil & gas, and power generation industries worldwide.

Financial Summary

– Revenue from continuing operations of $6,821.3m (2011: $5,666.8m) up 20%

– EBITA from continuing operations1 of $461.1m (2011: $341.6m) up 35%

– Profit from continuing operations before tax and exceptional items of $362.7m (2011: $254.1m) up 43%

– Adjusted diluted EPS of 85.2 cents (2011: 60.2 cents) up 42%

– Total dividend of 17 cents per share (2011: 13.5 cents) up 26%

Group Highlights

– Leadership changes position Wood Group for the next phase of growth

– Increasing contribution from oil-producing US shale regions

– Overall market conditions expected to remain favourable

– Anticipate progress in all divisions in 2013

Wood Group Engineering

– Second consecutive year of 30%+ EBITA growth

– Strength in upstream and subsea & pipelines

– Revenue growth and margin improvement anticipated in 2013

Wood Group PSN

– Good performance in North Sea and strong growth in North America

– Progress in Oman; confident of a significant improvement in 2013

– Well placed to deliver strong performance in 2013

Wood Group GTS

– Increased revenues in Maintenance and EBITA up around 10%

– Power Solutions EBITA slightly up on 2011

– Anticipate improvement in Maintenance in 2013

Bob Keiller, CEO commented:

“Our 2012 financial results represent another year of strong growth with EBITA up 35%, reflecting the focus and hard work of our people around the world. Wood Group is a great company and I believe we can be even better if we harness our collective strengths more effectively and operate in a more joined-up manner.

We are set to make progress in all divisions in 2013, and I look forward to leading our further development in good long term growth markets”

Full Results

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Press Release, March 05 , 2013