John Wood Group PLC
LSE:WG
John Wood Group PLC
John Wood Group Plc is an energy service company. The company is headquartered in Aberdeen, Aberdeenshire. The company went IPO on 2002-06-05. The firm's four operating segments are: Projects, Operations, Consulting and Investment Services (IVS). Its Projects segment include engineering, procurement, construction (EPC) contracts, and construction management. Its Operations segment include Electric Vehicle Charging infrastructure across United Kingdom and Europe. Its Consulting segment is focused on development a road-map for a net-zero transit network in Canada, also focusing on renewable energy, process & chemical and conventional energy. The firm's Investment segment include Aegis project
John Wood Group Plc is an energy service company. The company is headquartered in Aberdeen, Aberdeenshire. The company went IPO on 2002-06-05. The firm's four operating segments are: Projects, Operations, Consulting and Investment Services (IVS). Its Projects segment include engineering, procurement, construction (EPC) contracts, and construction management. Its Operations segment include Electric Vehicle Charging infrastructure across United Kingdom and Europe. Its Consulting segment is focused on development a road-map for a net-zero transit network in Canada, also focusing on renewable energy, process & chemical and conventional energy. The firm's Investment segment include Aegis project
Results Delay: Wood Group finally published its delayed FY24 and H1 25 results after a lengthy audit and restatement process, providing a financial baseline for moving forward.
Sidara Acquisition: Publication of financials fulfills key conditions for the Sidara acquisition, which is now set for a shareholder vote on November 17, 2025, with expected deal close in H1 2026.
Financial Performance: FY24 revenue fell 1% to $5.5 billion, and adjusted EBIT dropped 52% to $81 million, reflecting operational issues and significant one-off charges.
Profitability Pressures: All business units saw underlying EBIT declines, with notable contract losses and nonrecurring review-related charges further weighing on results.
No Guidance: Management withdrew financial guidance due to ongoing uncertainty, operational disruptions, and the complexities around the audit and Sidara process.
Debt and Liquidity: Net debt stayed flat at $683 million at year-end, and working capital pressures increased as liquidity tightened due to delayed refinancing.
Order Book Recovery: Despite headwinds, the order book improved to $6.5 billion as of June 30, 2025, aided by major client wins.
