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News releases 2015

PDF, 237KB - opens in a new window View the Results for the year ended 31 March 2015 as a PDF.

PDF, 1MB - opens in a new window View the presentation as a PDF.

View the webcast View the webcast

View the video interview with Uwe

Good results and continued progress towards our 8% margin goal

Design, engineering and project management consultancy WS Atkins plc (Atkins) today announces its preliminary results for the year ended 31 March 2015.

RESULTS SUMMARY

Note 2015 2014
Increase/
Decrease
Income statement
Revenue 1 £1,756.6m £1,750.1m +0.4%
Operating profit £118.5m £113.7m +4.2%
Underlying operating profit 2 £134.1m £116.4m +15.2%
Operating margin 6.7% 6.5% +0.2pp
Underlying operating margin 2 7.6% 6.7% +0.9pp
Profit before taxation £106.7m £114.2m -6.6%
Underlying profit before tax 3 £121.9m £106.4m +14.6%
Profit for the year after tax £85.7m £96.3m -11.0%
Diluted EPS 85.4p 95.8p -10.9%
Underlying diluted EPS 4 97.1p 85.7p +13.3%
Dividend 36.5p 33.75p +8.1%
People 5
Staff numbers 31 March 18,462 17,489 +5.6%
Average staff numbers 17,898 17,565 +1.9%
Cash
Operating cash flow £133.9m £95.5m +40.2%
Net funds £179.3m £188.3m -4.8%
Work in Hand 6 51% 51% n/a

HIGHLIGHTS

Financial highlights

  • Organic, constant currency revenue up 4.6%
  • Underlying operating profit up 15.2%, improved margin of 7.6%
  • Underlying diluted EPS up 13.3%, full year dividend up 8.1%
  • Strong operating cash flow up 40.2% to £133.9m and year end net funds of £179.3m

Operational highlights

  • Strong performance in Middle East, Asia Pacific and Energy
  • North American performance improving, UK and Europe mixed
  • Additional skills, clients and geographic exposure added with the acquisitions of Houston Offshore Engineering, Nuclear Safety Associates and Terramar

“We have delivered good results with solid growth in profitability and excellent cash performance. Margin progression has continued towards our 8% goal and the outlook remains positive.”

Allan Cook CBE
Chairman
Prof Dr Uwe Krueger
CEO

Notes:

  • Revenue excludes the Group’s share of revenue from joint ventures.
  • Underlying operating profit excludes amortisation of acquired intangibles. In addition, 2015 excludes exceptional transaction costs, impairment of goodwill and deferred acquisition payments. It includes £5m benefit of UK research and development expenditure credit following the Group’s adoption of the new regime.
  • Underlying profit before tax additionally excludes net profit on disposal of businesses of £0.4m (2014: £10.5m).
  • Underlying diluted EPS is based on underlying profit after tax and allows for the dilutive effect of share options.
  • Staff numbers are shown on a full time equivalent basis, including agency staff.
  • Work in hand is the value of contracted and committed work as at 31 March that is scheduled for the following financial year, expressed as a percentage of budgeted revenue for the year.

Enquiries

Heath Drewett, Group finance director
Sara Lipscombe, Group communications director
Kate Moy, Investor relations director
+44 20 7121 2000
+44 20 7121 2000
+44 20 7121 2000

Notes to editors

1. Atkins
Atkins (www.atkinsglobal.com) is one of the world's most respected design, engineering and project management consultancies, employing some 18,000 people across the UK, North America, Middle East, Asia Pacific and Europe. We build long term trusted partnerships to create a world where lives are enriched through the implementation of our ideas. You can view Atkins’ recent projects on our website.

2. Attachments
Attached to this news release are the overview of the year, extracts from the business review, the consolidated income statement, consolidated statement of comprehensive income, consolidated balance sheet, consolidated cash flow statement, consolidated statement of changes in equity and notes to the preliminary financial information for the year.

3. Analyst Presentation
A presentation for analysts will be held today at the London Stock Exchange at 0830. Dial-in details are available from +44 1372 753165 for those wishing to join the presentation by conference call. A webcast of the presentation will be available via the Company's website, www.atkinsglobal.com.

4. Cautionary Statement
This announcement has been prepared for the shareholders of Atkins as a whole and its sole purpose and use is to assist shareholders to exercise their governance rights. In particular, this announcement has not been audited or otherwise independently verified and no warranty is given as to its accuracy or completeness (other than any such warranty which is mandatorily implied by statute). Atkins and its directors and employees are not responsible for any other purpose or use or to any other person in relation to this announcement and their responsibility to shareholders shall be limited to that which is imposed by statute.

This announcement contains indications of likely future developments and other forward looking statements that are subject to risk factors associated with, among other things, the economic and business circumstances occurring from time to time in the countries, sectors and business segments in which the Group operates. These and other factors could adversely affect the Group’s results, strategy and prospects. Forward looking statements involve risks, uncertainties and assumptions. They relate to events and/or depend on circumstances in the future which could cause actual results and outcomes to differ materially from those currently expected. No obligation is assumed to update any forward looking statements, whether as a result of new information, future events or otherwise.