공시 • Oct 20
Petrofac Limited Announces Restructuring Update Further to its announcement on 1 October 2025, in which Petrofac Limited advised it was advancing more than one route to implement the Restructuring, it confirms that the Restructuring will result in no residual value being retained by existing shareholders. The Company remains focused on completing the Restructuring in the shortest possible time and by the end of November 2025. It has made very good progress towards implementation, and expects to shortly conclude a Lock Up Agreement in respect of the identified implementation route, which will support the Group’s operational capability and ongoing delivery. The Group expects to share further detail in the coming days. 공시 • Jul 03
Petrofac Limited Announces Court of Appeal Upholds Appeal Against Restructuring Plan The Court of appeal has upheld an appeal, brought by certain creditors connected with the Thai Oil project, against the Order of the High Court which sanctioned the Restructuring Plans of Petrofac Limited and Petrofac International (UAE) LLC. The appeal was upheld on narrow grounds associated with the terms of the New Money financing and the evidence provided in support of it, that had previously been accepted by the High Court. All other grounds of appeal were unsuccessful. The Company is carefully studying the detailed judgment, which was made available to it this morning, and will discuss with key stakeholders the implications of the judgment and potential routes forward. The Company will provide further updates in due course. 공시 • Jul 02
Petrofac Limited(LSE:PFC) dropped from FTSE All-Share Index (GBP) Petrofac Limited(LSE:PFC) dropped from FTSE All-Share Index (GBP) 공시 • Jan 08
Petrofac Limited Announces Resignation of Sara Akbar as Non-Executive Director, Effective from 31 January 2025 Petrofac Limited announced that Non-executive Director Sara Akbar has notified the Board of her intention to step down from her duties to pursue other business interests. She will do so from 31 January 2025. a result of the Board changes announced now, the Directors now sit on the following Board Committees as follows; Nominations Committee: René Médori (Chair), Matthias Bichsel, David Davies. Audit Committee: David Davies (Chair), Matthias Bichsel, Aidan de Brunner. Compliance & Ethics Committee: Mattias Bichsel (Chair), David Davies, René Médori. Remuneration Committee: Matthias Bichsel (Chair), David Davies, René Médori. Special Committee: Aidan de Brunner (Chair), Tareq Kawash, Afonso Reis e Sousa. Reported Earnings • Oct 02
First half 2024 earnings released: US$0.40 loss per share (vs US$0.27 loss in 1H 2023) First half 2024 results: US$0.40 loss per share (further deteriorated from US$0.27 loss in 1H 2023). Revenue: US$1.24b (flat on 1H 2023). Net loss: US$208.0m (loss widened 48% from 1H 2023). Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has fallen by 60% per year, which means it is performing significantly worse than earnings. 공시 • Sep 10
Petrofac Limited Announces Resignation of Ayman Asfari and Francesca Di Carlo as Directors Petrofac Limited announced the resignations of Ayman Asfari and Francesca Di Carlo as directors of the company with effect from 31 July 2024. 공시 • Sep 02
Petrofac Limited, Annual General Meeting, Sep 23, 2024 Petrofac Limited, Annual General Meeting, Sep 23, 2024. Location: the offices of linklaters llp, one silk street, ec2y 8hq, london United Kingdom Reported Earnings • Jun 06
Full year 2023 earnings released: US$0.97 loss per share (vs US$0.60 loss in FY 2022) Full year 2023 results: US$0.97 loss per share (further deteriorated from US$0.60 loss in FY 2022). Revenue: US$2.50b (down 3.7% from FY 2022). Net loss: US$505.0m (loss widened 63% from FY 2022). Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has fallen by 53% per year, which means it is performing significantly worse than earnings. 공시 • Dec 05
Aidan de Brunner Joins Petrofac Limited as Non-Executive Director Petrofac Limited announced that Aidan de Brunner has joined the Company as a Non-Executive Director. Aidan brings to Petrofac over 20 years of board, management, investment and financial advisory experience gained across a variety of global businesses. As the Group pivots to the execution of the new contracts won in 2023, Aidan will commit a significant portion of his time to supporting the Board for a limited period. He will drive engagement with finance providers, investors and other stakeholders in an active review of strategic and financial options to deliver on Petrofac’s potential following its most successful period for new awards in many years. New Risk • Nov 24
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 9.4% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (9.4% average weekly change). Negative equity (-US$66m). Reported Earnings • Aug 13
First half 2023 earnings released: US$0.32 loss per share (vs US$0.076 profit in 1H 2022) First half 2023 results: US$0.32 loss per share (down from US$0.076 profit in 1H 2022). Revenue: US$1.21b (down 3.2% from 1H 2022). Net loss: US$165.0m (down US$204.0m from profit in 1H 2022). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings. New Risk • Aug 11
New major risk - Negative shareholders equity The company has negative equity. Total equity: -US$66m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Negative equity (-US$66m). 공시 • Aug 10
Petrofac Limited to Report First Half, 2023 Results on Aug 10, 2023 Petrofac Limited announced that they will report first half, 2023 results on Aug 10, 2023 Reported Earnings • May 30
Full year 2022 earnings released: US$0.60 loss per share (vs US$0.68 loss in FY 2021) Full year 2022 results: US$0.60 loss per share. Revenue: US$2.59b (down 15% from FY 2021). Net loss: US$310.0m (loss widened 27% from FY 2021). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Energy Services industry in Europe. 공시 • Nov 17
Petrofac Limited, Annual General Meeting, May 12, 2023 Petrofac Limited, Annual General Meeting, May 12, 2023, at 09:30 Coordinated Universal Time. Reported Earnings • Aug 13
First half 2022 earnings released: US$0.027 loss per share (vs US$0.26 loss in 1H 2021) First half 2022 results: US$0.027 loss per share (up from US$0.26 loss in 1H 2021). Revenue: US$1.23b (down 23% from 1H 2021). Net loss: US$14.0m (loss narrowed 84% from 1H 2021). Over the next year, revenue is forecast to stay flat compared to a 13% growth forecast for the industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 39 percentage points per year, which is a significant difference in performance. Buying Opportunity • Jun 25
Now 24% undervalued Over the last 90 days, the stock is up 7.9%. The fair value is estimated to be €1.82, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 22% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Apr 28
Full year 2021 earnings released: US$0.54 loss per share (vs US$0.57 loss in FY 2020) Full year 2021 results: US$0.54 loss per share. Revenue: US$3.06b (down 25% from FY 2020). Net loss: US$195.0m (loss widened 1.6% from FY 2020). Over the next year, revenue is expected to shrink by 7.2% compared to a 25% growth forecast for the industry in Germany. Reported Earnings • Oct 28
First half 2021 earnings released: US$0.25 loss per share (vs US$0.23 loss in 1H 2020) The company reported a poor first half result with increased losses, weaker revenues and weaker control over costs. First half 2021 results: Revenue: US$1.60b (down 24% from 1H 2020). Net loss: US$86.0m (loss widened 10% from 1H 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 32 percentage points per year, which is a significant difference in performance. Board Change • Sep 14
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 7 experienced directors. 1 highly experienced director. Non-Executive Director Francesca Di Carlo was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Sep 08
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 7 experienced directors. 1 highly experienced director. Non-Executive Director Francesca Di Carlo was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Executive Departure • Sep 07
CFO & Executive Director Alastair Cochran has left the company On the 1st of September, Alastair Cochran's tenure as CFO & Executive Director ended after 4.9 years in the role. As of June 2021, Alastair still personally held 147.54k shares (€187k worth at the time). Alastair is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 3.54 years. Reported Earnings • May 22
Full year 2020 earnings released: US$0.53 loss per share (vs US$0.22 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: US$4.08b (down 26% from FY 2019). Net loss: US$180.0m (down 347% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has fallen by 38% per year, which means it is performing significantly worse than earnings. Reported Earnings • Apr 24
Full year 2020 earnings released: US$0.53 loss per share (vs US$0.22 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: US$4.08b (down 26% from FY 2019). Net loss: US$180.0m (down 347% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has fallen by 42% per year, which means it is performing significantly worse than earnings. 공시 • Feb 16
Carnarvon Petroleum Limited Awards Drilling Management Services Contract to Petrofac Limited Carnarvon Petroleum Limited announced the award of a drilling management services contract to Petrofac Limited (LSE: PFC, "Petrofac") for the B-10 appraisal well, which is expected to be drilled in H2 2021, subject to funding, rig availability and government approvals. On 17 December 2020, the Company announced it had entered into a subscription agreement with Timor-Leste Petroleum Pty Ltd. (a subsidiary of Carnarvon) to obtain up to a 50% equity interest in Carnarvon Petroleum Timor, Unipessoal Lda ("JVco"), its subsidiary which holds a 100% working interest in the Buffalo oil field (the "Subscription Agreement"), conditional, inter alia, on raising the necessary funding. JVco is presently making drilling preparations for the B-10 appraisal well, which is designed to drill the crest of the structure with the objectives of re-certifying resources into reserves and finalising the development plan for this proven oil field. Is New 90 Day High Low • Jan 20
New 90-day low: €1.25 The company is down 4.0% from its price of €1.30 on 22 October 2020. The German market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Energy Services industry, which is up 40% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.95 per share. Is New 90 Day High Low • Nov 24
New 90-day high: €1.91 The company is up 2.0% from its price of €1.87 on 26 August 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Energy Services industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €10.99 per share. 공시 • Nov 10
Petrofac Limited to Report Fiscal Year 2020 Results on Feb 24, 2021 Petrofac Limited announced that they will report fiscal year 2020 results on Feb 24, 2021 공시 • Nov 04
Perenco (Oil & Gas) International Limited completed the acquisition of remaining 51% stake in Petrofac Netherlands Holding B.V. from Petrofac Limited (LSE:PFC). Perenco (Oil & Gas) International Limited singed an agreement to acquire remaining 51% stake in Petrofac Netherlands Holding B.V. from Petrofac Limited (LSE:PFC) for approximately $280 million on September 19, 2019. Under the terms of transaction, Petrofac Limited will receive an initial $37.5 million upon signing and a further minimum payment of $82.7 million upon completion of the transaction. The total consideration of up to $276 million comprises a fixed amount and a series of contingent amounts that depend upon future milestones, including field development, commercial, service contract transition and fiscal terms, and is subject to the level of achievement of the milestones above. The transaction is subjected to regulatory approval, which expected to close in 2020. On August 11, 2020, transaction is expected to complete in the second half of 2020. Proceeds from the sale will be used to reduce gross debt. HSBC USA Inc. acted as financial advisor to Petrofac Limited.
Perenco (Oil & Gas) International Limited completed the acquisition of remaining 51% stake in Petrofac Netherlands Holding B.V. from Petrofac Limited (LSE:PFC) on November 3, 2020. Cash consideration received on completion was $82.7 million. In total, Petrofac has received $120.2 million. Further consideration of up to $155.8 million is potentially receivable, comprising $80.2 million plus interest payable on completion, which is disputed by Perenco. Petrofac will initiate formal legal proceedings against Perenco to recover this balance; and $75.6 million contingent on future milestones, including field development, commercial, service contract transition and fiscal terms. 공시 • Aug 12
Petrofac Limited Announces No Interim Dividend for the Six Months Ended 30 June 2020 The Board of Petrofac Limited recognised the importance of dividends to shareholders, but has decided to continue to suspend dividend payments and therefore not pay an interim dividend in 2020 (2019: 12.7 US cents per share) to conserve cash. At this time of considerable economic uncertainty, the Board is prioritising maintaining a strong balance sheet and does not expect to resume the payment of dividends until there is a sustained recovery in new order intake. 
