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 full project delivery, not reliant on M&A.

• Strategy centers on scaling project delivery, leveraging AI and digital tools, and expanding into 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 execution, including new roles and cost-out programs targeting over AUD 100 million in annualized savings by FY 2027.

• Capital allocation aligns with growth priorities, balancing reinvestment, shareholder returns, and balance sheet strength.

Market Context and Growth Drivers

• Positioned to benefit from mega-trends in energy, chemicals, resources, energy security, electrification, and infrastructure resiliency, with strong tailwinds in LNG, copper, battery materials, and power infrastructure.

• Geopolitical disruptions, especially in the Middle East, have delayed project awards but created restoration and resilience opportunities.

• Expanding into data centers, nuclear, industrial water, ports, and high-growth markets, leveraging existing capabilities and strategic partnerships.

• Americas now represent nearly 50% of revenue, with significant opportunities in LNG, resources, and power.

• Secured major project wins in LNG, power, and data centers, including Venture Global CP2 and Glenfarne Alaska LNG.

Execution, Risk Management, and Operational Model

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

• Customers increasingly demand full project delivery and outcome-based commercial models, with AI and digital tools enhancing predictability and efficiency.

• Strong governance and risk controls in place for major projects, with conservative contract risk profiles and improved cash flow management.

• Global Integrated Delivery (GID) model scaled to 7,000+ staff, supporting global delivery with over 42,000 employees in 43 countries.

• Majority of work is reimbursable, with selective use of fixed or value-based contracts, avoiding competitively bid LSTK projects.