Worley (WOR) Investor Day 2026 summary

FY 2030 Ambition and Strategic Direction

• Targeting double-digit medium-term underlying EBITDA/EBITA CAGR through FY 2030, driven by organic growth and AI-enabled project delivery, not reliant on M&A.

• Strategy centers on scaling full project delivery, leveraging AI and digital tools, and expanding into future-facing markets such as complex critical infrastructure, data centers, and energy transition materials.

• Maintaining a capital-light, asset-light, scalable business model with disciplined risk management, avoiding competitively bid lump-sum turnkey EPC/LSTK work.

• Leadership changes and restructuring announced to support strategy execution, including new roles and cost-out programs targeting over AUD 100 million in annualized savings by FY 2027, with reinvestment in growth areas.

• Focused on aligning capital allocation and funding decisions with growth priorities, supported by a strong balance sheet, new share buyback program, and ongoing transformation to improve efficiency.

Market Context and Growth Drivers

• Positioned to benefit from mega trends in energy, chemicals, resources, and infrastructure, with strong tailwinds from energy security, electrification, and sustainability.

• Significant opportunities in LNG, integrated gas, copper, battery materials, and power, with major project wins such as Venture Global CP2 and Glenfarne Alaska LNG.

• Expanding addressable market by moving deeper into project execution and wider into adjacent sectors, doubling exposure to capital expenditure and diversifying portfolio.

• Strategic partnerships, such as with Baker Hughes and NVIDIA, enhance access to global opportunities and support project delivery and advanced design.

• Over 42,000 employees in 43 countries, with long-term customer relationships and global programs providing stable earnings and a platform for innovation.

Execution, Risk Management, and Operational Discipline

• Reorganization into Global Operations and Major Projects & Programs has improved focus and delivery across project sizes.

• Enhanced governance and risk controls for major projects, with conservative contract risk profiles, monthly performance reviews, and majority reimbursable work.

• Cash flow discipline maintained through favorable payment terms, improved working capital management, and strong cash conversion (>85%).

• Cost management program underway, targeting over AUD 100 million in annualized savings by FY 2027, with reinvestment in strategic hires and digital capabilities.

• Maintaining investment-grade credit rating, strong liquidity, and a minimum liquidity target of AUD 1 billion.