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Petrofac: 2019 Results In Line With Guidance - Quick Facts

Petrofac Ltd. (POFCF.PK,POFCY.PK,PFC.L) said, Group revenue for the full year is expected to be approximately $5.5 billion. The Group continues to expect E&C results to be in line with management guidance, with revenue around $4.4 billion and net margin at the low end of guidance. Engineering & Production Services revenue is expected to be around $0.9 billion and net margin in the middle of the guidance range. For the Group, net debt is expected to be around $0.1 billion at 31 December 2019.

For 2020, Petrofac continues to expect a decrease in Group revenue reflecting low new order intake in recent years. The company currently have approximately $4.0 billion of secured revenue for 2020, comprising $3.4 billion in E&C and $0.6 billion in Engineering & Production Services.

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