2025 Full Year Results
Annual Report
Worley1 is a global company of energy, chemicals and resources experts and an industry leader in providing services that are aimed at solving the world’s most complex and critical challenges. We operate on a global scale in a market experiencing significant transition and demand-led long-term growth momentum.
Founded in 1971 with annual revenues of approximately $12 billion and over 45,500 employees as at 30 June 2025. Operating in 44 countries, we benefit from our global presence and solid long-term customer relationships.
1 Worley Group Limited [WOR] and its subsidiaries, the Consolidated Entity.
Stewarding long-term value in a changing world
On behalf of the Board, I’m pleased to share our 2025 Annual Report, which reflects our performance and governance, as well as our clarity of purpose in an increasingly complex global environment.
John Grill, AO
Chair and Non-Executive Director
Disciplined execution of our strategy
This year has been one of challenge and change. Geopolitical shifts and strong macroeconomic headwinds demanded agile leadership and disciplined execution, with a relentless focus on business and customer outcomes. Driven by our purpose and guided by our strategy, the results reflect the everyday commitment and ongoing efforts of our global workforce and executive leadership. This is underpinned by our values and behaviors – we do what is right over what is easy. I thank all of our people for what they have delivered – a strong result.
Chris Ashton
CEO and Managing Director
Financial highlights
Worley delivered strong financial performance in FY2025, with continued growth in revenue, EBITA and cash flow. We maintained an investment-grade profile, improved quality of earnings, and delivered strong bookings – reflecting the strength of our delivery model and strategic positioning in core and growth markets.
General note: All figures are statutory unless noted as underlying.
Ambition highlights
We continued to advance our ambition to lead in sustainability solutions – investing in our people, expanding digital capabilities, and supporting customers with more integrated, lower-impact project outcomes. Progress on gender diversity and emissions reduction reflects our commitment to creating positive environmental and social impact.
Our people
People focuses on energizing and empowering our workforce, fostering growth and innovation, and supporting our communities.
0.02
Serious Case Frequency Rate
reduced from 0.03 in FY2024
20%
of our senior leaders are female,
up from 18% in FY2024
Our portfolio
Portfolio highlights our role as our customers’ trusted partner, delivering best-in-class solutions and maintaining strong relationships.
60%
sustainability-related aggregated revenue
8.3m
hours delivered through our GID centers in India and Colombia
Our planet
Planet underscores our dedication to responsible environmental management as we design, build and maintain our customers’ assets across their life cycle.
80%
of our top 20 customers by revenue have net zero commitments
73%
reduction in Scope 1 and Scope 2 GHG emissions since FY2020
Operational highlights
We executed thousands of projects across energy, chemicals and resources – from large-scale LNG, hydrogen and lithium developments to traditional brownfield work. Our Global Integrated Delivery (GID) model continued to scale, improving efficiency, lowering cost, and enabling faster delivery for customers. We also advanced digital transformation through AI-powered tools that enhance design, execution and decision-making across the project lifecycle.
Operational excellence
- Quality of earnings improvement
- Utilization targets
- Resource management
20%
increase in productivity
from FY2024
87.1%
utilization, in line with
target of 87%
Capital management
- Focus on conversion of profit to cash
- Capital management supports strategy
- Share buy-back commenced in March 2025
94.9%
normalized cash conversion,
within our target range
52.0
days sales outstanding, down from 59.3 days
at 30 June 2024
Our strategy
Fundamental global changes in energy security, affordability, and sustainability are transforming how our customers invest, operate, and grow. At the same time, decarbonization, digital transformation, and evolving policy landscapes are reshaping industry priorities. Our strategy positions us to lead through this change, helping our customers navigate complexity while unlocking growth opportunities for our business.
Our strategic framework
Our strategic framework is focused on the areas where we see the greatest potential for growth. It’s grounded in operational excellence and financial discipline, and underpinned by our strategic enablers - the core capabilities that set us apart and strengthen our ability to deliver on our commitments.
STRENGTHEN
leadership in core markets
- Help meet current and future energy, chemicals and resources demand
- Deliver sustainable solutions for our customers
EXPAND
into growth markets and along the value chain
- Targeted focus in developing demand-driven markets
- Extend our end-to-end project delivery capabilities
INNOVATE
to unlock opportunities and efficiency
- Transform how we deliver work
- Develop digital and technology-driven solutions
Operating and financial review
Our diversified global business continues to deliver value through consulting, engineering, procurement, and construction services across energy, chemicals and resources. With a disciplined commercial approach, low-risk contract profile and strong project governance, we are well positioned to navigate market complexity and drive long-term performance.
Operations
Our sectors
Energy
Producing energy across traditional, transitional and sustainable sources (e.g. oil, gas, biofuels and renewables). We also undertake projects related to power generation, transmission, and distribution.
Chemicals
Manufacturing, processing and refining chemicals and fuels (e.g. renewable fuels, petrochemicals, polymers and specialty chemicals).
Resources
Processing mineral and metal resources, including resources central to the energy transition and resource projects related to fertilizers (phosphates), water use and re-use, the environment, transport, ports and site remediation and decommissioning.
ESG performance
The Worley Board is responsible for governing the ESG performance of the Worley Group. Our governance systems and operational controls are implemented to ensure we operate lawfully, ethically and responsibly.
Performance
Our performance management is structured around three core pillars – People, Portfolio and Planet – reflecting our strategic ambition and commitment to excellence. These sections provide a detailed overview of our achievements, goals, and outlook, showcasing our performance across all areas of our business.
Risk management
Our approach
Our ability to create and protect value is underpinned by our approach to risk management and our culture of encouraging transparent communications where material matters are escalated quickly. This involves visible leadership, identifying the material risks we face, and making informed decisions that align to our Ambition and values.
Directors’ report
Directors’ report ➔
The Directors present their report on Worley Limited (Company) and the entities it controlled (Group or consolidated entity) at the end of the year ended 30 June 2025.
Remuneration report ➔
This year, we’ve delivered strong performance in a changing landscape. We continue to demonstrate disciplined strategy execution to ensure our business remains resilient through market cycles.
Financial statements
Financial report ➔
Consolidated financial information and related notes forming part of the consolidated financial statements.
Additional information
Shareholder information ➔
Summary of shareholder information, including top 20 holdings of fully paid ordinary shares as at 31 July 2025.
Glossary ➔
Defines the terms used throughout the Annual Report and in our FY2025 Climate Change Report and Sustainability Basis of Preparation.
This annual report contains forward-looking statements. Such statements may include, but are not limited to, statements regarding climate change and other environmental, energy and emissions reduction targets and transition scenarios. It also contains statements about expectations of energy consumption and related emissions, availability of lower emissions energy and power sources, future demand for Worley’s services, global market conditions, management plans, goals and strategies. The statements also cover current expectations of Worley’s business and operations, financial conditions and market practises, capital costs and scheduling, and the availability, implementation and adoption of new technologies. Forward-looking statements can generally be identified by the use of words such as ‘forecast’, ‘estimate’, ‘plan’, ‘will’, ‘could’, ‘may’, ‘believe’, ‘expect’, ‘outlook’, ‘target’, ‘goal’ and other similar expressions.
These forward-looking statements reflect the Group’s expectations at the date of the FY2025 Annual Report and reflect assumptions and other information available as at the date of this document. They are not guarantees or predictions of future financial performance or outcomes. They involve known and unknown risks and uncertainties, many of which are beyond our control and may cause actual outcomes and developments to differ materially from those expressed in the statements. Factors that may affect forward-looking statements include legal and regulatory changes, technological changes, customer investment in the energy transition, economic and geopolitical factors including global market conditions, demand and availability of highly skilled people, and risks, including physical, technology and GHG emissions reductions risks.
The Group cautions readers against reliance on any forward-looking statements or guidance. The Group makes no representation, assurance or guarantee as to the accuracy, completeness or likelihood of fulfillment of any forward-looking statement, any outcomes expressed or implied in any forward-looking statement or any assumptions on which a forward-looking statement is based.
Except as required by applicable laws or regulations, the Group does not undertake to publicly update or review any forward-looking statements, whether as a result of new information or future events.
This document may contain statements that have been prepared by Worley on the basis of information from publicly available sources, and other third-party sources, and this information has not been verified by the Group. To the maximum extent permitted by law, Worley does not make any representation or warranty (express or implied) as to the currency, accuracy, reliability, or completeness of the information in this document or that this document contains all material relevant information about Worley.