Delivering our New Strategic Future

Steadfast, disciplined and agile implementation of our strategy has consolidated our long-term potential and our ability to realise it. From this vantage point, we are confident our stakeholders can look forward to a multi-year period of strong earnings growth and meaningful value creation.

Our New Strategic Future plan was designed to deepen our resilience to market cycles by achieving diversification across geographies and capabilities. We also sought to ensure our relevance by carefully choosing our target market sectors, which required broadening our market scope in recent years. While cyclicality is a typical feature of natural resources markets, specialised infrastructure and lower-carbon energy sources provide a long-term structural underpin to our growth potential.

Our business platforms have built credible positions in market sectors and regions likely to attract elevated capital investment, and their differentiation as specialist contractors, active across the entire project life cycle, will support sustainable earnings growth in the years ahead. The substantial stimulus earmarked for infrastructure-led socioeconomic recovery and redevelopment as the world emerges from the COVID-19 pandemic are important drivers of our investment case.

A SPECIALIST
MULTINATIONAL ENGINEERING AND
CONSTRUCTION
GROUP…

Our strategically mature business platforms are focused on market sectors and regions with the best opportunities for growth, diversification and differentiation.

…ABLE TO OPTIMISE
VALUE ACROSS THE
PROJECT LIFE
CYCLE…

As specialist contractors in their regions, end-to-end insight and control across the project life cycle optimises client, local community and host country value.

…DIFFERENTIATED
BY A VALUES-LED
CULTURE OF
ENGINEERED
EXCELLENCE

Mature policies, management systems, business principles and practices, and shared learning enable differentiated services beyond competitive pricing.

…WITH CREDIBLE
POSITIONS IN
MARKET SECTORS
WITH LONG-TERM
POTENTIAL…

Structural demand for certain commodities, infrastructure-led socioeconomic recovery and global decarbonisation indicate robust capital investment in our market sectors.

…TO STRENGTHEN
SUSTAINABLE
EARNINGS AND
SHAREHOLDER
VALUE GROWTH.

Diversification across market sectors, regions and service offerings optimises earnings and risk, reflected in a record-high quality order book and strong project pipeline.

CONSISTENT STRATEGIC DELIVERY

Over the last decade, the Group has dealt with threats to our financial stability and reputation, and navigated a long period of unpredictable conditions and unforeseen global events that severely disrupted global capital investment in our markets. Despite severe challenges, leadership has held true to our long-term strategic direction and course corrected where needed, to position our business platforms in market sectors with long-term growth potential. We have also sought to ensure we have the capabilities, capacity and credibility to deliver on the Group’s high-value, quality order book.

GLOBAL SCOPE AND REGIONAL STRENGTH

The Group’s geographic footprint reflects a permanent presence in high-growth regions for our clients. We also support clients in other geographies, occasionally in joint venture with local partners. The Group favours lower-risk developed markets and higher-margin market segments in which the regional capabilities and competitive advantages of our platforms can be fully leveraged to achieve growth. We continue to seek opportunities for growth, either organically or through acquisition, to further diversify our earnings potential and risk exposure.

Our business platforms are well-led, -diversified, -positioned and -governed. They have the management structures and systems, and the capabilities needed to thrive in their regional markets. Active across the project life cycle, they provide specialised and competitive end-to-end service offerings to clients in our market sectors, while diversifying their revenue and margin mix. Their regional strength also provides some protection from disruptions to global project supply chains and international skills deployment.

ENERGY, RESOURCES
& INFRASTRUCTURE

Market focus

Americas, Asia, Australia, EMEA

Global capabilities: energy

Australasian capabilities: energy, resources (metals and minerals) and infrastructure markets.

  • Detailed engineering
  • Procurement
  • Construction
  • Commissioning & maintenance
MINING
 

Market focus

Africa, Americas, Asia, Australia

Global capabilities: underground and open pit mining services and material logistics, in global metals and minerals markets.

  • Detailed engineering
  • Procurement
  • Construction
  • Commissioning & maintenance
  • Operations
POWER, INDUSTRIAL
& WATER

Market focus

Sub-Saharan Africa

Regional capabilities: power, industrial and water markets.

  • Detailed engineering
  • Procurement
  • Construction
  • Commissioning & maintenance