HSSE
As you can see, Q1 results show we are getting our focus back. We have achieved a Total Recordable* Incident Rate (TRIR) of 0.2 and although we still have a great deal of work to do to reduce this further, we have seen a 78% reduction in Lost time Incident** for the same period compared with our 2014 performance. We are on target to complete our Beyond Zero refresh as planned by the end of October. I can also reveal that our new Beyond Zero logo and branding have been developed and we have teams working on our new Beyond Zero tools and rules.
*Recordable incident = Lost Time Incident + Medical Treatment Case + Restricted Workday Case
**Lost Time Incident = an injury that causes any loss of time from work beyond the day or shift it occurred
People
This category is of utmost importance and you can see we need to improve in some areas. Our PDRs provide a vehicle to talk to our people periodically, finding out what aspirations and goals they want to achieve within the business and I am disappointed this is not happening everywhere. On the other hand, I am pleased we are doing well on the engagement front; we started working on our employer brand, defining what our company stands for as an employer, why people join it and why they stay. Initial research is underway so if you wish to take part in it, please do so. It is crucial to hire the right people who want to build their career in Amec Foster Wheeler and fulfil their expectations. I know some areas are currently going through some tough challenges and we are trying to deal with the situation as best as we can.
Project delivery
It is great to see we are on track here, as successful project delivery is absolutely paramount for our success. The Group Project Delivery procedures in support of our Identify Acquire Deliver process are increasingly being adopted for new work. The first Group Project Review Committee meeting was held involving members of the Group Leadership Team. All regional business units have been proactive in collaborating with the HVEC in India to identify opportunities for work share. Now the priority is making it happen as the use of HVEC is a fundamental imperative of our new business strategy. I hope you have already seen the HVEC video on onespace?
Ethics
As you can see, there is nothing to report in Q1. Not because we are no longer ethical, but because they are aligned too our new Code of Business Conduct, which will be launched soon, followed by the Code of Business Conduct and Anti-Bribery and Corruption training later this year. I hope we will have some good KPI results in implementation of all of these materials – they are mandatory but also integral to the way we do business and behave.
Customers
These KPIs are measured on a Group level. All areas require improvement but there has been some great work done so far; for example, we have achieved four revenue synergy wins (Alacer Gold in Turkey, Peak Resources in Tanzania, Energy Transfer in the US and EDF PD Alliance in the UK). We have been diversifying AMEASE with key wins in E&I and Clean Energy (including US Navy wins in Guam for Construction & Specialty Consulting and GPG win for boilers in the Philippines). However, the market remains very challenging and we need to focus more on channelling work though HVEC in India if we are to meet our growth plans for work share and I am personally visiting HVEC in the near future.
Money
Our 2014 annual results were in line with expectations; our business model is resilient but you will see we still need to hit our EBITA targets for the year. I do know and appreciate the hard work that is being done by so many of our employees and I believe our business is a better one because of it, better prepared to withstand downturn and take advantage of upturn. But it is clear we all need to continue working hard if we are to outperform our competition and achieve our goals for 2015.
Our strategy
This is another Group level KPI showing that our integration efforts are on track. Integration work stream representatives meet every week to update each other on the progress, making sure they are aligned. The major outcomes are then presented at the Steering Committee to ensure the Group Leadership Team is aware about the progress that I am very pleased with.
I appreciate your hard work and dedication and I thank you for it. It needs to continue in Q2 and onwards; we have ambitious targets to meet for this year and beyond and each of us has a role to play in this. Having said that, I would like to see more 'target met and exceeded' in our KPI scores next quarter!
Samir Brikho