Worley's sustainable growth and strategic outlook

Worley Limited (ASX: $WOR) presented its Investor Day on 14 May 2024, outlining its sustainable growth strategies and long-term outlook. The company's CEO, Chris Ashton, emphasized the long-term growth trends driven by structural changes in their end markets and the consistent execution of their strategy, resulting in increased earnings, margins, and cash flow in line with expectations. Worley's strategic investment in sustainability solutions continues to yield accretive returns, positioning the company for increased value creation for stakeholders.

Executive commentary on sustainable growth and strategic focus

Chris Ashton, CEO of Worley, highlighted the company's leading position enabling it to benefit from the energy transition and demand shifts. He emphasized the discipline in execution, evident in the increased earnings, margins, and cash flow, and the strategic investment in growing sustainability solutions. Worley's clear path to increased value for stakeholders is driven by the development of enhanced delivery solutions to reshape the industry and build on its differentiated position.

Outlook and strategic ambitions

Worley's outlook remains consistent with its expectations for FY24, subject to no material deterioration in current market conditions. The company aims to be recognized globally as a leader in sustainability solutions, targeting 75% of aggregated revenue from sustainability-related work by the end of FY26 and a double-digit, medium-term EBITA CAGR. Worley's strategic priorities include insights into macro trends, strategic wins, technology solutions, and addressing the challenges and opportunities ahead. The company is positioned to capitalize on the energy transition and demand shifts, with a strong focus on sustainable growth and innovation.