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WORLEY LIMITED — Capital/Financing Update 2015
Aug 10, 2015
66073_rns_2015-08-10_60adc704-1da5-4046-b20f-1d90f956d182.pdf
Capital/Financing Update
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Level 12, 141 Walker Street North Sydney NSW 2060 Australia Telephone: +61 2 8923 6866 Facsimile: +61 2 8923 6877 worleyparsons.com WorleyParsons Limited ABN 17 096 090 158
11 August 2015
ASX Release
WORLEYPARSONS LIMITED
(ASX: WOR)
Non-cash impairment of goodwill
Professional services company WorleyParsons Limited today announced that as part of its usual year end accounts preparation it is reviewing asset carrying values.
This comprehensive review will reflect the expected ongoing challenging market conditions and will be finalized around the time of the full year results release, scheduled for 26 August 2015.
In the process of assessing asset carrying values across all cash generating units, the Company expects to recognize a non-cash impairment of goodwill of approximately $200 million. This represents approximately 10% of the value of goodwill.
The Company confirms that the impairment of goodwill will have no impact on debt covenants.
Guidance for full year statutory net profit after tax provided on 4 May 2015 did not include the impact of any potential impairment.
For further information please contact:
Fran van Reyk Investor Relations and Group Communications Ph: +61 2 8456 7256 [email protected] www.worleyparsons.com
About WorleyParsons: WorleyParsons delivers projects, provides expertise in engineering, procurement and construction and offers a wide range of consulting and advisory services. We cover the full lifecycle, from creating new assets to sustaining and enhancing operating assets, in the hydrocarbons, mineral, metals, chemicals and infrastructure sectors. Our resources and energy are focused on responding to and meeting the needs of our customers over the long term and thereby creating value for our shareholders.
WorleyParsons is listed on the Australian Securities Exchange [ASX:WOR].