Investor Centre

Investors Centre

Our ongoing commitment to quality, schedule, safety and customer service has ensured that the Company has continued to benefit from the strong support that we receive from our clients and encouraging levels of repeat business. Our strategy, based on sustainable and profitable growth, aims to secure value enhancement for our shareholders and other stakeholders.


Special Announcements



Lamprell plc announced the intention to raise equity through a rights issue on Friday 16 May 2014. Please click here to visit our dedicated microsite for details, including the announcement. Please note that content is restricted for certain audiences. Shareholders who have any questions regarding voting at the Extraordinary General Meeting or the Rights Issue should contact Capita Asset Services on 0871 664 0321, if calling from within the UK, or on +44 20 8639 3399, if calling from outside the UK.

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THE INVESTMENT PROPOSITION

Lamprell is a leading provider of diversified engineering and contracting services to the onshore and offshore oil & gas and renewable energy industry.

During H1 2014, Lamprell saw exceptional activity levels with many significant operational achievements:

  • Strong operational performance in all core markets enhances Lamprell’s track record for project execution
  • Successful delivery of two jackup rigs to National Drilling Company, the 13,200 tonne production utilities and quarters deck to Nexen for use in North Sea sector and a new self-propelled jackup vessel to Seajacks
  • Largest and one of the most complex rig conversion and refurbishment projects in Lamprell’s history delivered to the client after the period end
  • World class safety record continues on various projects including ten million manhours without a lost-time incident on Nexen project
  • Project Evolution, a programme to deliver material productivity improvements and cost efficiencies, is progressing well and generating some early returns

Lamprell's market share remains strong in its core markets and the Company continues to see high levels of enquiries and bid activity with a robust pipeline of opportunities:

  • Over US$ 900 million of new awards between January and August 2014 including multi-rig awards from each of Ensco and Shelf Drilling, as well as an award from Petrofac for modules to be deployed in Abu Dhabi
  • Order book of US$ 1.2 billion (as at 30 June 2014)
  • Bid pipeline of $ 4.9 billion (as at 30 June 2014)

A fundamental element of Lamprell’s updated strategy is to leverage our key strengths, namely our high build quality, strong safety record, commitment to reliability, our reputation for working collaboratively with our clients for success, our skilled workforce and our strategically-located facilities. Broader market conditions around our core markets remain competitive but these new contract awards demonstrate our clients’ confidence in our project execution, the value we offer and our renewed financial strength.

Lamprell has made significant progress in refocusing the business on its core activities and its objective is to capitalise on opportunities in those core markets where the business has strong established positions: new build jackup rigs, onshore and offshore construction, renewables, rig refurbishment and conversions and land rig services.