PETROFAC ORD USD0.02
Symbol: PFC
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Company
Business Summary
Petrofac Limited is a Jersey-based service provider to the energy industry. The Company’s principal activity is to design, build, manage and maintain infrastructure for the energy industries. The Company operates through three segments: Engineering & Construction, Asset Solutions and Integrated Energy Services. The Engineering & Construction segment provides fixed-price engineering, procurement and construction project execution services and reimbursable engineering, procurement and construction management services to the onshore and offshore oil and gas industries. The Asset Solutions segment mainly includes reimbursable engineering and production services activities to the oil and gas industry. The Integrated Energy Services segment is focused on delivering value from the existing asset portfolio. The Company’s services include project development, project execution, asset support, well engineering, decommissioning and training and competence.
Financial Summary
BRIEF: For the six months ended 30 June 2023, Petrofac Ltd revenues decreased 3% to $1.21B. Net loss totaled $165M vs. income of $39M. Revenues reflect Engineering & Construction Services segment decrease of 30% to $466M, Algeria segment decrease of 51% to $93M, Oman segment decrease of 54% to $68M, Iraq segment decrease of 60% to $31M. Net loss reflects Engineering & Construction Services segment loss increase from $44M to $122M.
Financials
Income Statement - All values are in GBP (M).
Year Ending |
31/12/2022 |
31/12/2021 |
31/12/2020 |
31/12/2019 |
31/12/2018 |
31/12/2017 |
---|---|---|---|---|---|---|
Total Revenue | 2,591.00 | 3,057.00 | 4,081.00 | 5,530.00 | 5,829.00 | 6,395.00 |
Gross profit | -76.00 | 178.00 | 279.00 | 621.00 | 719.00 | 773.00 |
Operating Profit/Loss | -235.00 | -130.00 | -148.00 | 220.00 | 159.00 | 104.00 |
Profit Before Tax | -321.00 | -189.00 | -171.00 | 192.00 | 107.00 | 45.00 |
Profit After Tax | -337.00 | -192.00 | -189.00 | 66.00 | 61.00 | -27.00 |
Equity Holders of Parent Company | -310.00 | -195.00 | -180.00 | 73.00 | 64.00 | -29.00 |
Minority Interest | 10.00 | 7.00 | 16.00 | 288.00 | 305.00 | 34.00 |
Balance Sheet - All values are in GBP (M).
Year Ending |
31/12/2022 |
31/12/2021 |
31/12/2020 |
31/12/2019 |
31/12/2018 |
31/12/2017 |
---|---|---|---|---|---|---|
Total Non-Current Assets | 603.00 | 743.00 | 823.00 | 1,028.00 | 1,477.00 | 1,972.00 |
Total Current Assets | 2,664.00 | 3,094.00 | 3,378.00 | 4,948.00 | 4,329.00 | 5,591.00 |
Total Assets | 3,267.00 | 3,837.00 | 4,201.00 | 5,976.00 | 5,806.00 | 7,563.00 |
Total Liabilities | 3,155.00 | 3,352.00 | 3,761.00 | 5,062.00 | 4,797.00 | 6,615.00 |
Total Net Assets | 112.00 | 485.00 | 440.00 | 914.00 | 1,009.00 | 948.00 |
Shareholders Funds | 129.00 | 475.00 | 433.00 | 633.00 | 707.00 | 912.00 |
Minority Interests | 10.00 | 7.00 | 16.00 | 288.00 | 305.00 | 34.00 |
Total Equity | 112.00 | 485.00 | 440.00 | 914.00 | 1,009.00 | 948.00 |
Outlook
Broker View
Data shown is based on the past 75 days of broker views.
ActionBrokers |
Strong Buy0 |
Buy1 |
Neutral7 |
Sell0 |
Strong Sell1 |
---|---|---|---|---|---|
Brokers | 0 | 1 | 7 | 0 | 1 |
Consensus |
ConsensusNeutral |
Not advice based on your circumstances. Does not constitute a recommendation to buy or sell this or any other security. Selected data supplied by Digital Look® Read more.
Forecasts
Year | 2023 | 2024 | 2025 |
---|---|---|---|
Revenue | £2,528.20mn | £3,181.94mn | £4,226.34mn |
Pre-tax-Profit | -£129.88mn | £78.50mn | £187.40mn |
EPS | -£0.33p | -£0.13p | £0.11p |
EPS Growth | 0.00% | 0.00% | 0.00% |
P/E | -0.71 | -1.77 | 2.15 |
PEG Ratio | 0.00 | 0.00 | 0.00 |
Dividend | 0.00p | 1.11p | 1.04p |
Yield | 0.00% | 0.00% | 0.00% |
Upgrades & Downgrades (Latest)
Date | Broker | Recommendation | Price | Old Target | New Target | Change |
---|---|---|---|---|---|---|
3rd Jul 2023 | Jefferies | Reiteration | 81p | 0p | 80p | Hold |
19th May 2023 | Barclays | Reiteration | 72p | 0p | 200p | Equal-weight |
12th Apr 2023 | Berenberg Bank | Reiteration | 63p | 0p | 110p | Buy |
18th Jan 2023 | Barclays | Reiteration | 83p | 200p | 200p | Equal-weight |
21st Oct 2022 | Barclays | Reiteration | 103p | 175p | 170p | Overweight |
24th Aug 2022 | Barclays | Reiteration | 119p | 200p | 200p | Equal-weight |
24th Aug 2022 | JP Morgan Cazenove | Reiteration | 119p | 1500p | 1500p | Neutral |
12th Aug 2022 | Berenberg Bank | Reiteration | 118p | 200p | 200p | Buy |
12th Aug 2022 | Barclays | Reiteration | 118p | 200p | 200p | Equal-weight |
12th Aug 2022 | JP Morgan Cazenove | Reiteration | 118p | 180p | 175p | Overweight |
Time & Sales
All prices are in GBX and times are in GMT. Last 20 trades shown. Trade type is estimated and should be treated as indicative only.
Date | Time | Price | Volume | Type |
---|---|---|---|---|
25 Apr 2024 | 17:39 | 23.947 | 196,174 | Buy |
25 Apr 2024 | 17:05 | 23.62 | 101,014 | Sell |
25 Apr 2024 | 16:35 | 23.54 | 122,969 | Sell |
25 Apr 2024 | 16:29 | 23.9 | 1,276 | Buy |
25 Apr 2024 | 16:29 | 23.9 | 4,397 | Buy |
25 Apr 2024 | 16:29 | 23.66 | 38 | Sell |
25 Apr 2024 | 16:29 | 23.66 | 11,254 | Sell |
25 Apr 2024 | 16:29 | 23.7 | 15,563 | Buy |
25 Apr 2024 | 16:29 | 23.7 | 3,500 | Buy |
25 Apr 2024 | 16:29 | 23.7 | 3,500 | Buy |
25 Apr 2024 | 16:29 | 23.7 | 3,500 | Buy |
25 Apr 2024 | 16:29 | 23.7 | 2,584 | Buy |
25 Apr 2024 | 16:29 | 23.7 | 109 | Buy |
25 Apr 2024 | 16:29 | 23.66 | 3,501 | Sell |
25 Apr 2024 | 16:29 | 23.66 | 2,603 | Sell |
25 Apr 2024 | 16:29 | 23.66 | 600 | Sell |
25 Apr 2024 | 16:29 | 23.66 | 700 | Sell |
25 Apr 2024 | 16:29 | 23.66 | 2,916 | Sell |
25 Apr 2024 | 16:29 | 23.66 | 7,919 | Sell |
25 Apr 2024 | 16:29 | 23.66 | 5,759 | Sell |
Selected data supplied by Thomson Reuters © View restrictions.