• Aggregated revenue up 6.8%, Underlying EBITA up 9.0%
• Underlying EBITA margin ex-procurement increased to 8.4%
• Intention to undertake $500 million on-market share buy-back

Worley Ltd reported its half year results for the six months ended 31 December 2024 (HY25). Statutory Net Profit was $216 million, up 55.4% on the prior corresponding period (pcp). Underlying EBITA grew 9.0% on pcp to $376 million and operating margins increased to 8.4%. Aggregated revenue for the half year was $5,989 million, up 6.8% on pcp with increases across the Americas and EMEA regions and the energy and resources sectors. The company's strong capital management position reflects a focus on prudent cash flow management and enduring balance sheet strength, with leverage at 1.5x unchanged from 30 June 2024. Worley will continue to invest in strategic initiatives to drive organic growth and operational efficiency, and has announced its intention to undertake an on-market share buy-back of up to $500 million. The company's backlog is $12.7 billion, down from $13.8 billion at 30 June 2024, but the company continues to win more work than it delivers. Worley reconfirmed its FY25 outlook, targeting low double-digit EBITA growth and an underlying EBITA margin (excluding procurement) in the range of 8.0-8.5%.

Worley is targeting low double-digit EBITA growth and expects the underlying EBITA margin (excluding the impact of procurement) to be within a range of 8.0-8.5% for FY25.

Worley is confident in its long-term growth strategy, with its markets positively leveraged to global macro trends and the company well positioned to support customers across traditional, transitional and sustainable portfolios. The company continues to make strategic investments to generate positive accretive growth by opening up new addressable markets, expanding market share and unlocking growth opportunities through innovation.