Fluor 2003 Annual Report Download - page 20

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Oil & Gas
30%
Industrial &
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15%
Government
12%
Global Services
24%
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FL UOR CORPORATION 2003 A N NUAL REPORT
MARKETS SERVED
COGENERATION
FOSSIL฀FUELS
SAMPLE CLIENTS
BRAZOS฀ELECTRIC,฀DAYTON฀POWER฀&฀
LIGHT,฀DUKE฀ENERGY,฀FPL฀ENERGY,฀
LG&E,฀PANDA฀ENERGY,฀PSEG,฀
RELIANT฀ENERGY,฀SCE&G,฀SEMPRA
POWER
Over the course of the investment cycle,
Fluor captured significant market share,
winning roughly one third of all new power
projects awarded in the U.S.
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dollars in billions
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120
120.0
90
90.0
60
60.0
30
30.0
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OPERATING PROFIT
dollars in millions
PERCENT OF TOTAL
OPERATING PROFIT
Power
19%
FLUOR’S POWER BUSINESS SEGMENT IS AN industry leader in providing state-
of-the-art power generation facilities for industrial
and commercial customers in the U.S. and abroad.
Deregulation in the U.S. electric power industry,
combined with strong growth in demand, drove a major
cycle of capital investment in recent years. Over the
course of the investment cycle that ended in early 2002,
Fluor captured significant market share, winning roughly
one third of all new power projects awarded in the U.S.
While awards for new projects were extremely modest in 2003, Fluor focused on executing
its strong backlog of power work, successfully completing six projects during the year and
generating $77 million in operating profit. Backlog for Power at the end of the year was
$605 million.