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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Petrofac Limited    PFC   GB00B0H2K534

PETROFAC LIMITED

(PFC)
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Real-time Estimate Quote. Real-time Estimate CHI-X - 07/03 10:02:40 am
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Petrofac : confirms Seagreen wind farm substations contract award

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06/03/2020 | 11:56am EDT

Following the commencement of early works and completion of final investment decision, Petrofac has today confirmed a contract with Seagreen Wind Energy Ltd to design, supply and install the High Voltage Alternating Current (HVAC) onshore and offshore substations for the Seagreen offshore wind farm project.

The wind farm, being developed by SSE Renewables, will be located 27 kilometres off the coast of Angus and once commissioned will be the largest in Scotland, providing around 1 million homes with low carbon energy. The full scope includes, on a lump-sum basis, the engineering, procurement, fabrication, transportation, installation and commissioning of the offshore substation platform, including the topside, jacket and piles. The onshore substation EPC scope includes all civil works and major equipment.

Elie Lahoud, Petrofac's Group Managing Director - Engineering & Construction, commented:

'With the initial stages of the work underway and progressing well, we are delighted to have now confirmed this contract award following completion of final investment decision. This important project will be Scotland's largest offshore wind farm and supports our continued diversification into renewable energy. We look forward to working with all parties in continuing to deliver safely and efficiently, in line with the expectations of Seagreen Wind Energy.'

Petrofac has a strong track record in offshore wind, specialising to date in the engineering, procurement, construction, installation and commissioning of HVDC and HVAC offshore and onshore substations for major international wind farms. Recent projects include the BorWin3 offshore grid connection project in the German North Sea, the Hollandse Kust Zuid (HKZ) Alpha and Beta platforms in the Dutch North Sea and a turnkey power system for the Galloper offshore wind farm off the coast of Suffolk.

Categories: Europe

Disclaimer

Petrofac Ltd. published this content on 03 June 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 June 2020 15:55:01 UTC

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Financials (USD)
Sales 2020 4 346 M - -
Net income 2020 81,8 M - -
Net Debt 2020 9,80 M - -
P/E ratio 2020 8,26x
Yield 2020 3,10%
Capitalization 731 M 731 M -
EV / Sales 2019
EV / Sales 2020 0,17x
Nbr of Employees 11 500
Free-Float 75,8%
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Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 3,25 $
Last Close Price 2,18 $
Spread / Highest target 188%
Spread / Average Target 49,2%
Spread / Lowest Target -22,1%
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Managers
NameTitle
Ayman Asfari Group Chief Executive Officer & Executive Director
René Médori Non-Executive Chairman
Alastair Edward Cochran Chief Financial Officer & Executive Director
Matthias F. Bichsel Senior Independent Non-Executive Director
George J. Pierson Independent Non-Executive Director
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