Hyder Consulting PLC Annual Report 2012

More documents

Recommendations

Info

Europe Regional revenues were 8.7% lower at £101.2m (2011: £110.8m). Adjusted operating profits were £5.5m (2011: £6.6m), 16.7% lower reflecting the challenging market conditions in the UK. UK In the UK, we have performed well in what has been a competitive rail market, winning new contracts with Crossrail, TfL, Network Rail, and for London Bridge station with Costain. In the highways sector whilst we had secured new frameworks with the Highways Agency at the end of the prior year, workload was slow in the first half which affected utilisation rates. Later in the year we won a number of commissions under framework agreements including design works on the managed motorway delivery hub and site assurance works. We have been appointed sole provider of consultancy services to British Waterways under a framework agreement. This supplements our work in the water sector, notably on AMP5 frameworks with South West Water, Thames Water and Severn Trent Water. In addition, we have continued to support Thames Water in damage assessment and mitigation measures relating to those assets critical to the supply of energy and water-related utilities which will be affected by Crossrail’s tunnels and stations, and by the proposed Thames Tunnel. We are continuing to support major Thames Tideway upgrade projects at Crossness and Beckton sewage treatment works. Our profile in the utilities sector continues to grow as a result of these important project awards. In the property and environment sectors, the market has been subdued, although we have been appointed to frameworks in both existing and new market segments, including with the National Grid. Planning applications were approved on substantial Infrastructure Planning Commission and urban regeneration schemes, which will provide good future workload. Germany Operating profits improved, and we carried out assignments for a number of Hyder’s key accounts including Siemens, BMW, Hochtief and Deutsche Bahn, the latter on the ICE high speed rail, section 21. Our international presence is giving us opportunities to work with these clients outside Germany, for example in Qatar and in China, and in the rail sector more widely. Our property division performed particularly well during the year and Ingenieur Consult, which we acquired last year, was integrated successfully and performed ahead of our expectations. Major projects: • London Bridge station, UK • British Waterways engineering term contract, UK • Sussex train lengthening package 3, UK • Managed motorway delivery hub, UK • Traffic management technology framework, UK • Crossrail Thames Water delivery partner, UK • ICE high speed rail, section 21, Germany 2012 2011 UK Germany Total UK Germany Total Revenue (£m) 75.0 26.2 101.2 87.2 23.6 110.8 Adjusted operating profit (£m) 4.0 1.5 5.5 5.5 1.1 6.6 Margin 5.3% 5.7% 5.4% 6.3% 4.7% 6.0% Order book (£m) 106.2 28.8 135.0 98.9 35.2 134.1 People 1,084 404 1,488 1,139 366 1,505 Hyder Consulting PLC Annual Report 2012 17
On the right track: Crossrail In September 2009, a multi-disciplinary team led by Hyder Consulting were appointed by Crossrail to design two major infrastructure schemes that will serve one of the busiest areas in East London. The Crossrail project is the largest civil engineering project in Europe and the largest single addition to the London transport network for over 50 years. Benefits These significant contracts for the design of a new rail station at Whitechapel will provide connections for Crossrail, London Underground and the London Overground services. Not only will this project contribute to improving Britain’s railway infrastructure, but it also reaffirms the success of our strategy of partnering with key clients in our core market sectors. Our hands-on approach and close working relationships with our client and project teams naturally develops strong and positive business relationships. Once complete, Crossrail will promote vital links to meet the needs of people and businesses throughout the South East and London’s financial and business centre in particular. As the largest civil engineering project in Europe, Hyder’s association with this world class project and upgrade to London’s Transport System provides invaluable career-defining experience for our people. Achievement and outcomes Whitechapel station is one of six major underground stations in the central underground section of the Crossrail scheme. It is a busy interchange between the recently upgraded and extended London Overground, the Hammersmith & City, District and London Underground lines. The station is situated in a vibrant and growing local community, close to the newly extended Royal London Hospital. Connection to the Crossrail scheme has led to major improvements to Whitechapel station area as the project is seen as being a catalyst for urban regeneration along Whitechapel Road. 18 Hyder Consulting PLC Annual Report 2012 Capital value: £240M Client: Crossrail Scope: Station design (including new concourse connecting all London Underground and Overground lines, fit out of two new 240m platforms and two 30m deep shafts) and management of interfaces, adapting RIBA C+ scheme design to RIBA F ready for tender. The Crossrail team identified an opportunity to redesign the station to achieve a simplified layout, redesigning it entirely to make the passenger routes more direct thus improving customer experience. This meant a smaller station footprint with more of the passenger flow being above ground, resulting in a smoother flowing station. Substantial cost savings – potentially of up to 13% of the initial construction cost estimate were achieved. The development of this option and the production of the final design were completed within the original programme. This change not only produced a better station layout but it saved the client in excess of £60m. The integrated client, delivery partner and design team’s excellence, expertise and innovation were demonstrated by their teamwork and strong grasp of the key issues at an early stage in the design process. Post contract award, Hyder worked with Crossrail’s delivery partners to further explore ideas and agree design improvements. When Crossrail opens, Whitechapel station will become an important transport hub connecting the new line to the District, Hammersmith & City lines as well as the new London Overground line. Even before on site work commenced on the project, the following awards had been won: • Crossrail award for Value for Money • Crossrail award for Value for Safety • Fire Safety Engineering Award - 2011 Fire Excellence Critical success factors Meeting the obligations of the Crossrail Act and requirements of planning authorities is essential to the success of the scheme, particularly during and after construction. The potential impacts on local residents living in apartments overlooking the station and the nearby Swanlea School have heavily influenced the design. With utility diversions and enabling works to be carried out in a highly constrained inner-city location, this is a complex and demanding project.
Page 1 and 2: Hyder Consulting PLC Annual Report
Page 3 and 4: Contents 1 10 13 13 32 35 Company O
Page 5 and 6: Our strategy continued Who we are:
Page 7 and 8: Our strategy continued Our structur
Page 9 and 10: Our strategy continued Our strategy
Page 11 and 12: Key Performance Indicators Inner We
Page 13 and 14: Results The order book increased su
Page 15 and 16: Chairman’s Statement continued M2
Page 17 and 18: Directors’ Report Business Review
Page 19: Directors’ Report Business Review
Page 27 and 28: 24 Hyder Consulting PLC Annual Repo
Page 35 and 36: Directors and Advisors Directors Si
Page 39 and 40: Chairman’s introduction I am plea
Page 41 and 42: Directors’ Report Corporate Gover
Page 43 and 44: Directors’ Report Corporate Gover
Page 45 and 46: Directors’ Report Corporate Socia
Page 61 and 62: Improving the scenery: Hong Kong Gr
Page 63 and 64: Business Review The company is the
Page 65 and 66: Directors’ Report General Informa
Page 69 and 70: Directors’ Report Directors’ Re
Page 71 and 72:
Directors’ Report Directors’ Re
Page 73 and 74:
Directors’ Report Directors’ Re
Page 75 and 76:
Independent Auditors’ Report to T
Page 77 and 78:
CONSOLIDATED INCOME STATEMENT FOR T
Page 79 and 80:
CONSOLIDATED CASH FLOW STATEMENT FO
Page 81 and 82:
1. PRINCIPAL ACCOUNTING POLICIES Th
Page 83 and 84:
1. PRINCIPAL ACCOUNTING POLICIES co
Page 85 and 86:
1. PRINCIPAL ACCOUNTING POLICIES co
Page 87 and 88:
2. SEGMENTAL ANALYSIS BY LOCATION O
Page 89 and 90:
4. NET FINANCE INCOME 86 Hyder Cons
Page 91 and 92:
6. EARNINGS PER SHARE (a) Number of
Page 93 and 94:
8. GOODWILL 2012 2011 £’000 £
Page 95 and 96:
10. PROPERTY, PLANT AND EQUIPMENT F
Page 97 and 98:
11. TRADE AND OTHER RECEIVABLES con
Page 99 and 100:
15. FINANCIAL INSTRUMENTS The group
Page 101 and 102:
15. FINANCIAL INSTRUMENTS continued
Page 103 and 104:
15. FINANCIAL INSTRUMENTS - DISCLOS
Page 105 and 106:
17. DEFERRED TAX Deferred tax is ca
Page 107 and 108:
20. SHARE BASED PAYMENTS Share opti
Page 109 and 110:
22. OTHER RESERVES 106 Hyder Consul
Page 111 and 112:
24. ACQUISITIONS The group purchase
Page 113 and 114:
25. EMPLOYEE COSTS (a) Employee cos
Page 115 and 116:
26. POST EMPLOYMENT BENEFITS contin
Page 117 and 118:
26. POST EMPLOYMENT BENEFITS contin
Page 119 and 120:
29. RELATED PARTY TRANSACTIONS The
Page 121 and 122:
INDEPENDENT AUDITORS’ REPORT TO T
Page 123 and 124:
PRINCIPAL ACCOUNTING POLICIES The F
Page 125 and 126:
6. CALLED UP SHARE CAPITAL Issued a
Page 127 and 128:
11. SHARE BASED PAYMENTS Share opti
Page 129 and 130:
NON-STATUTORY INFORMATION - SUMMARY
show all

Hyder Consulting PLC Annual Report 2012

Create successful ePaper yourself

Delete template?

Save as template?