Worley (WOR) Investor Day 2025 summary

Strategic Priorities and Business Outlook

• Reorganization of executive roles and operations aims to enhance focus on major projects, global operations, and full-project delivery, supporting both large-scale and smaller projects.

• Immediate priorities include margin growth, cost management, expanding services along the value chain, and accelerating digital innovation, especially in AI and global integrated delivery (GID).

• FY2025 guidance reconfirmed: targeting low double-digit EBITDA/EBITA growth and underlying EBITDA/EBITA margin (excluding procurement) between 8% and 8.5%.

• Backlog increased to $13 billion at end of March, with bookings year-to-date at $9.4 billion and a 14% pipeline increase since January 2025, diversified across energy, chemicals, and resources.

• No material project cancellations or deferrals reported since the start of the year; pipeline for next 12 months up 14% over the quarter.

Market Trends, Positioning, and Customer Dynamics

• Macro tailwinds include rising demand for energy, resources, and chemicals, ongoing energy transition, and global GDP growth.

• Customers are shifting away from lump-sum turnkey EPC contracts to lower-risk, reimbursable models, opening new markets and increasing share of customer wallet.

• Sustainability-related work now represents 52% of revenue, with early-phase sustainability project wins increasing in FY25 compared to FY24.

• Diversified global footprint with ~50,000 employees in 45 countries and 12,000+ active projects; strong customer base with ~50% of revenue from top 10 multinationals.

• Strategic wins in LNG, hydrogen, renewable fuels, and nuclear SMR projects across key geographies.

Technology, Digital, and Innovation

• Digital innovation and AI are central to strategy, with partnerships (e.g., NVIDIA, Dell, Microsoft) enabling rapid deployment of agentic AI and data-centric project delivery.

• GID hubs in India and Colombia now deliver over 14% of work, with plans to expand further for operational efficiency and consistency.

• Expanded proprietary process technology portfolio through Build, Buy, Partner strategy, including Chemetics and Comprimo brands.

• Responsible AI council established and ~100 automation tools deployed to boost productivity.

• Technology Scaling as a Service model supports rapid commercialization of emerging technologies.