EnerMech started the new year with nearly one-third more employees than in 2020 and a £500 million-plus book of orders notched up during the past 12 months.
The new contracts are helping the Aberdeen-based mechanical and electrical services company bounce back from the initial impact of the Covid-19 pandemic.
EnerMech’s global headcount is currently between 3,500 to 4,000, depending on project requirements, which is up by 30% from two years ago.
The firm said its “diligent” response to the Covid crisis and recent investments had set it on a course for continued growth, creating more new jobs, during this year and beyond.
Bosses also highlighted more new opportunities on the “near horizon”.
We are delivering several milestone campaigns for existing and new clients in the sectors we have traditionally supported, as well as new end markets and new regions.”
Christian Brown, CEO, EnerMech.
EnerMech’s global income suffered a major blow in 2020 as lockdowns and other coronavirus impacts devastated economies around the world.
Accounts posted at Companies House show the company’s turnover slumped by 38% to around £210.5m that year, from £340m in 2019.
Adjusted earnings before interest, taxes, depreciation, and amortisation fell nearly 27% to just under £9.8m.
Bumper order book
EnerMech said nothing about 2021 turnover or future targets as it announced its bumper order book, which sees it “breaking into new geographies and business territories”.
It is starting work this month on several significant campaigns, including “numerous transformational megaprojects” around the world.
The contracts are with both new and existing clients.
Work has already started on some of them, with others due to commence “imminently”.
‘2022 will be a very busy year for us’
Chief executive Christian Brown said: “After winning more than half a billion pounds of new business in the last 12 months, 2022 will be a very busy year for us.
“We are delivering several milestone campaigns for existing and new clients in the sectors we have traditionally supported, as well as new end markets and new regions.
“As well as having a healthy order book, we also have new opportunities on the near horizon.”
Mr Brown added: “Our strengthened position is testament to the talent we have in-house and their hard work in these challenging times.”
Chief financial officer Sandeep Sharma said: “The diligent and responsive measures we adopted last year, as well as the investments we made, have had a truly positive impact on our people, our clients and our business.
“This success, combined with our ongoing resilience and determination, has set us on course for continued growth this year and beyond, growth that will safeguard jobs and create new ones.”
£450m takeover
Founded in April 2008, EnerMech provides specialist integrated mechanical, electrical, instrumentation and integrity services to the international energy and infrastructure sectors, from pre-commissioning to operations, maintenance and late-life support and decommissioning.
The workforce is spread across UK sites in Aberdeen, Great Yarmouth and Bristol, as well as overseas operations in Norway, Abu Dhabi, Qatar, Saudi Arabia, Iraq, Azerbaijan, Kazakhstan, Singapore, Malaysia, India, China, South Korea, Angola, Ghana, Nigeria, South Africa, Guyana, Trinidad, Mexico and the US.
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In December 2018 EnerMech was acquired by global asset manager Carlyle in a deal worth about £450m.
It was previously owned by Lime Rock Partners and private shareholders including former CEO and co-founder Doug Duguid.
