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Success Stories
EIC Survive 2024 EIC Survive&&Thrive Thrive 2024
JulyJuly 2024 2024
Story type #energy transition (main category)
GHD
Benefits
Carving a reputation as a go-to advisor for navigating the energy transition Tom Foley
Key findings
Future Energy Leader – EMEA How is GHD thriving? GHD is excelling thanks to an unwavering commitment to its ‘Make it Real’ strategy. Implemented in 2020 to help both GHD and its clients meet the demands of a rapidly changing world, GHD has gone on to record revenues in 2023, excelling in areas such as energy transition, business resilience and sustainability. The challenge - With 11,000 employees generating US$1.86bn in revenue across more than 160 offices worldwide, GHD has established itself as a leading professional services company. Specialising in advisory, digital, engineering, architecture, environmental and construction solutions, GHD is dedicated to enhancing the sustainability of water, energy and communities for future generations. Indeed, GHD’s forward looking approach has shaped its overall strategy in recent years. In 2020, the company introduced a five-year plan titled ‘Make it Real’, recognising the need for its clients to adapt to radical changes, disruptive technologies and new business norms largely driven by the energy transition. The challenge of shifting the global economy to net zero is immense, requiring the involvement of every company in every sector across every country. With the energy sector at the forefront of this transition, GHD’s clients are experiencing an unprecedented pace of change in market sentiment. Customers, investors and regulators are all demanding genuine corporate commitments to decarbonisation and sustainability, ensuring that no one is left behind. To align with these evolving demands and support its clients in their energy transition journeys, GHD launched a transformational investment programme focused on recruitment, reskilling and upskilling staff. As part of this initiative, the company created new specialist roles and appointed new leadership to manage the largest enterprise-led strategic growth initiative in its history – ‘Future Energy’. Underpinning these efforts is a clear goal: to grow and pivot its business focus so that by 2027, 25% of all net revenue – equivalent to US$1bn per year – will be generated from energy transition value propositions. The solution - The launch of GHD Advisory in
▸ Record revenues of US$1.86bn in 2023, 17% up from 2022. ▸ On track to have at least 25% of revenues coming from energy transition by 2027.
2016, to address clients’ business challenges and opportunities driven by global megatrends, laid the foundations from which the company’s strategy could succeed. Indeed, through the advisory group, the firm was able to swiftly develop its global strategy, redefining GHD’s vision for sustainable water, energy and communities for future generations. Resultantly, the ‘Make it Real’ strategy was implemented in 2020, this being shaped by extensive client and broader market engagements. Leveraging innovative thinking, deep infrastructure expertise, solid business acumen, and a commitment to practical solutions, GHD is now instrumental in driving efficiency, growth, and support for clients adapting to change. As trusted advisors, GHD is specifically working with its clients to tackle three key future energy challenges: #1 – Energy transition: GHD provides strategic advice and transformational pathways, identifying short- and long-term roadmaps for energy transition. By understanding clients’ progress, GHD develops strategies that protect financial performance, drive impact, and create competitive advantages. #2 – Business resilience: Recognising that resilient businesses and projects attract investment by meeting ESG criteria, GHD helps clients to futureproof their operations. The firm offers methodologies and strategies to address, manage, and mitigate change, enhancing value and growth. #3 – Sustainability: Taking a holistic approach, GHD identifies potential points of failure in clients’ sustainability efforts. The firm assists in formulating and executing success strategies, ensuring clients meet their sustainability goals.
For industry ▸ Test more and carry out extensive scenario planning, this is a volatile market. Do more front-end analysis. ▸ Be clear about your company culture to stimulate career ambition. For government ▸ Have clearer goals and set outcomes beyond the term of current governments. We need long-term commitment. ▸ Provide more subsidy support.
GHD at a glance: Key products and services: multidisciplinary professional services for integrated solutions. Main industries served: ▸ Oil and gas ▸ Renewables ▸ Energy storage ▸ Hydrogen ▸ Carbon Capture ▸ Conventional power Headquarters: Sydney, Australia Year established: 1928 Number of employees: 11,000 Revenue: £1.86bn Revenue from exports: N/A
Through these efforts, the firm’s new strategy has been key in driving impressive growth and strong shareholder returns in recent times. Indeed, in 2023, GHD achieved record revenues of US$1.86bn – up 17% versus the US$1.59bn recorded in 2022.
Hydrogen Strategy to the Ministry of Energy and Infrastructure (MOEI), aligning with the UAE’s vision to become a leading low-carbon hydrogen producer by its 60th anniversary in 2031.
The EMEA region, a key strategic area, experienced particularly strong growth through several key projects. In the UAE, for example, GHD is supporting the National Hydrogen Strategy, positioning the country as a global leader in hydrogen development. This includes delivering a comprehensive National
With GHD’s brand strength growing in all markets, and clients increasingly viewing GHD as the go-to trusted advisor for navigating the energy transition, it is well positioned to achieve its goal of generating at least 25% of its revenue from energy transition activities by 2027.