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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  John Wood Group    WG.   GB00B5N0P849

JOHN WOOD GROUP

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John Wood : Wood completes sale of interest in Canadian turbines business

11/16/2020 | 02:07am EST

Wood announces today that it has completed the sale of its joint venture interest in TransCanada Turbines to joint venture partner TC Energy for a cash consideration of US$67m. The deal represents a multiple of approximately 7.6x Wood's share of expected 2020 EBITDA.

The sale forms part of Wood's focus on portfolio optimisation and the cash proceeds will be used to reduce debt and accelerate progress towards Wood's target leverage.

David Kemp, Chief Financial Officer commented:

'Our focus on portfolio optimisation is driven by our strategic objective of building a premium, differentiated, higher margin business focused on energy and built environment markets. The sale of our interest in TransCanada Turbines will also make a positive contribution towards achieving our leverage target.'

The TransCanada Turbines business delivers overhaul, repair and maintenance services on industrial gas turbines for an international client base. It is headquartered in Calgary, Alberta with field service offices across the globe.

Disclaimer

John Wood Group plc published this content on 16 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 November 2020 07:06:08 UTC


© Publicnow 2020
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Financials (USD)
Sales 2020 7 602 M - -
Net income 2020 5,68 M - -
Net Debt 2020 1 413 M - -
P/E ratio 2020 1 284x
Yield 2020 -
Capitalization 3 102 M 3 103 M -
EV / Sales 2020 0,59x
EV / Sales 2021 0,58x
Nbr of Employees 43 200
Free-Float 99,0%
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Technical analysis trends JOHN WOOD GROUP
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 4,52 $
Last Close Price 4,60 $
Spread / Highest target 21,6%
Spread / Average Target -1,70%
Spread / Lowest Target -32,4%
EPS Revisions
Managers and Directors
NameTitle
Robin Watson Chief Executive Officer & Executive Director
Roy Alexander Franklin Chairman
David Miller Kemp Chief Financial Officer & Executive Director
Mary L. Shafer-Malicki Independent Non-Executive Director
Thomas M. Botts Independent Non-Executive Director
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