Annual Report 2019

Glossary

Term Description
$, $m Australian dollars unless otherwise stated, Australian millions of dollars.
Americas Services business lines region encompassing sub regions of North America and Latin America.
APAC Services business lines region encompassing Australia, Pacific, Asia and China.
ASIC Australian Securities and Investments Commission
ASX Australian Securities Exchange
Backlog Backlog is the total dollar value of the amount of revenues expected to be recorded for the next 36 months as a result of work performed under contracts or purchase/work orders awarded to the Group. With respect to long term agreements and framework agreements, an amount is included for the work expected to be received over the period under consideration. The view of backlog is sensitive to timing of awards and as such a conservative view of timing has been adopted.
Board The board of directors of the Company.
CEO Chief Executive Officer.
Company WorleyParsons Limited ACN 096 090 158.
Downstream The refining of petroleum crude oil and the processing and purifying of raw natural gas, as well as the marketing and distribution of products derived from crude oil and natural gas.
EBIT Earnings before interest and tax.
EcoNomics™ Our framework for integrating sustainability into our customers’ projects and operations. That framework assists them in making decisions where trade offs exist between technical, social, environmental and financial performance.
ECR Energy, Chemicals and Resources division acquired from Jacobs in FY2019.
EMEA Services business lines region encompassing Europe, Middle East and Africa.
EPC Engineering, Procurement and Construction.
EPC contract Under an EPC contract, we will generally be responsible for the design of, the procurement of equipment and materials for, and the construction and commissioning of, an asset, such as a power station. This will generally require us to ensure that the completed asset meets certain specified performance targets. To do so, we will generally procure the necessary equipment and materials and engage various sub-contractors ourselves.
EPCM Engineering, Procurement and Construction Management.
EPCM contract Under an EPCM contract, we will generally be responsible for providing our professional services, but unlike an EPC contract, will not be responsible for delivering a completed asset to our customer. Instead, we will provide engineering and design services to our customer, procure equipment but only as agent for our customer and manage our customer’s other suppliers as the customer’s representative. We will generally be paid an hourly rate for the services we provide.
EPS Earnings per share. Determined by dividing the Group NPAT by the weighted average number of the Company’s ordinary shares on issue during the financial year.
Executive Executives include both executive directors and group executives and have authority and responsibility for planning, directing and controlling the activities of the entity, directly or indirectly.
FEED (front end engineering design) Basic engineering design providing owners and their financiers with information enabling them to determine whether or not, and if so how, to commit resources to a proposed project to maximize its projected returns.
FY2018 and FY2019 Financial year 2018 and financial year 2019.
Group or Worley WorleyParsons Limited and the entities it controls.
HSE Health, Safety and Environment.
Jacobs Jacobs Engineering Group Inc.
KMP (key management personnel) Those persons having authority and responsibility for planning, directing and controlling the activities of the entity, directly or indirectly, including any director (whether executive or otherwise) of that entity. KMP comprise Executives and Non-Executive Directors.
Midstream The transport (by pipeline, rail, barge or truck), storage, and wholesale marketing of crude or refined petroleum products.
MMO Maintenance, Modifications and Operations activities.
NPAT (net profit after tax) The net profit earned by the Group after deducting all expenses including interest, depreciation and tax. From time to time, in determining outcomes under the incentive plans, the Board may use its discretion to apply the underlying NPAT which in the Board’s opinion reflects the Company’s operating results.
NPATA (net profit after tax before amortization of acquired intangibles) The net profit after tax excluding the post tax impact of amortization on intangible assets acquired through business combinations. From time to time, in determining outcomes under the incentive plans, the Board may use its discretion to apply the underlying NPATA which in the Board’s opinion reflects the Company’s operating results.
NED (non-executive director) Non-executive directors of the entity have authority and responsibility for planning, directing and controlling the activities of the entity, directly or indirectly.
TSR (total shareholder return) Provides a measure of the change in the value of the Company’s share price over a period, including reinvested dividends, expressed as a percentage of the opening value of the shares.
Upstream The searching for potential underground or underwater crude oil and natural gas fields, drilling of exploratory wells, and the subsequent drilling and operation of the wells that recover and bring the crude oil and/or raw natural gas to the surface.
WorleyParsons Refers to the Company as it comprised prior to the ECR acquisition.