Company Profile: John Wood Group plc

Background

John Wood Group plc, commonly known as Wood, is a British multinational engineering and consulting firm headquartered in Aberdeen, Scotland. Established in 1982, Wood has evolved into a global leader in project, engineering, and technical services, catering to a diverse range of industrial sectors. The company's mission is to deliver sustainable solutions that enhance the performance of its clients' assets throughout their lifecycle. Wood's vision emphasizes innovation, safety, and environmental stewardship, positioning itself as a pivotal player in the energy and industrial markets.

Key Strategic Focus

Wood's strategic focus encompasses:

• Comprehensive Asset Solutions: Offering end-to-end services from concept design to decommissioning, ensuring optimal asset performance.

• Diversified Industrial Engagement: Serving sectors such as oil and gas, chemicals, environment and infrastructure, power and process, clean energy, mining, and general industrial markets.

• Technological Integration: Utilizing advanced engineering methodologies and digital technologies to drive efficiency and innovation.

• Global Market Penetration: Operating across Africa, Asia, Australia, Europe, and the Americas, targeting both established and emerging markets.

Financials and Funding

As of 2023, Wood reported annual revenues of approximately $5.9 billion. The company has faced financial challenges, notably following the 2017 acquisition of Amec Foster Wheeler for £2.2 billion, which introduced significant debt and legal liabilities. In response, Wood has initiated asset sales aiming to raise up to $200 million to alleviate its financial burdens. Additionally, the company is engaged in refinancing discussions for $1.4 billion of debt due by October 2026.

Pipeline Development

Wood's project pipeline includes:

• Energy Transition Initiatives: Developing solutions for low-carbon hydrogen production and carbon capture and storage.

• Infrastructure Projects: Engaging in complex integrated petrochemical facilities and specialty chemicals projects.

• Renewable Energy Ventures: Expanding into offshore wind and other renewable energy sectors to support global sustainability goals.

Technological Platform and Innovation

Wood differentiates itself through:

• Proprietary Engineering Solutions: Implementing advanced engineering designs tailored to client needs.

• Digital Integration: Employing digital twins and predictive analytics to enhance asset management.

• Sustainable Practices: Focusing on environmentally responsible methodologies to minimize ecological impact.

Leadership Team

• Ken Gilmartin: Chief Executive Officer since 2022, bringing extensive experience in engineering and project management.

• Iain Torrens: Interim Chief Financial Officer appointed in 2025, overseeing financial strategy and operations.

• Jennifer Richmond: Chief Strategy Officer since 2024, responsible for corporate strategy and business development.

• Marla Storm: Chief Human Resources Officer since 2024, leading talent management and organizational development.

Leadership Changes

In February 2025, Chief Financial Officer Arvind Balan resigned after admitting to misstating his qualifications. Iain Torrens was appointed as interim CFO to navigate the company's financial restructuring.

Competitor Profile

Market Insights and Dynamics

The engineering and consulting sector is characterized by:

• Market Size and Growth: A substantial global market with steady growth driven by infrastructure development and energy transition initiatives.

• Industry Trends: Increasing emphasis on sustainability, digital transformation, and integrated service offerings.

Competitor Analysis

Key competitors include:

• Jacobs: A U.S.-based firm offering engineering and construction services across various sectors, with a strong presence in infrastructure and technology.

• Petrofac: A UK-based company specializing in oilfield services, focusing on engineering, procurement, and construction management.

• Fluor: A global engineering and construction firm with expertise in energy, chemicals, and infrastructure projects.

Strategic Collaborations and Partnerships

Wood has engaged in significant partnerships to bolster its market position:

• EnergyPathways: In December 2024, Wood partnered with EnergyPathways as the lead engineering partner for the Marram Energy Storage Hub project in the UK Irish Sea.

• Shell UK Limited: In February 2025, Wood secured a $120 million contract extension to provide engineering, procurement, and construction services to Shell's onshore and offshore assets in the UK.

Operational Insights

Wood's strategic considerations include:

• Market Positioning: Leveraging its comprehensive service offerings to maintain a competitive edge.

• Competitive Advantages: Emphasizing technological innovation, global reach, and a diversified portfolio to differentiate from competitors.

Strategic Opportunities and Future Directions

Wood's future roadmap focuses on:

• Debt Reduction: Accelerating asset sales and refinancing efforts to strengthen financial stability.

• Energy Transition: Expanding services in renewable energy and sustainable infrastructure to align with global trends.

• Digital Transformation: Investing in digital technologies to enhance service delivery and operational efficiency.

Contact Information

• Website: www.woodplc.com

Note: Specific contact details such as address, phone number, and email are omitted to maintain privacy.