Profitable Growth Knut BE, SVP Technip North Sea and Canada Pareto Securities Oil & Offshore Conference September 10, 2008
Contents I. Technip at a glance II. Subsea Financial Performance III. Subsea Market Position & Trends Annex Pareto Securities Oil & Offshore Conference 2
I. Technip at a glance Pareto Securities Oil & Offshore Conference 3
Technip Today Worldwide leader in engineering, project management and technologies, serving the oil & gas industry for 50 years 23,000 employees in 46 countries, Industrial assets on 5 continents, a fleet of 16 vessels (19 vessels end…
Strategic Framework SUBSEA OFFSHORE ONSHORE New organisation based on 6 regions with full P&L accountability Vertically integrated Subsea business unit More balanced business per segment, region and market Investing in…
Subsea Services Products Deep Water Installation Flexible Pipes & Construction (in house manufacturing) Rigid Pipelines Pipelaying u Vertical integration Inspection, u In-house technologies Umbilicals Repair &…
Offshore TPG 500 Unideck Semi-submersible Spar EDP FPSO u Engineering u Innovative concepts u Proprietary platform design u Proven track record in engineering and construction Pareto Securities Oil & Offshore Conference 7
Onshore Refining & Heavy Oil Gas Processing Petrochemicals Clean Fuels Gas Treatment Ethylene Grass Roots GTL Polyolefins Heavy Oil upgraders LNG Aromatics Hydrogen Fertilizers u Project management know-how u Strong process…
Worldwide Presence Orkanger Stavanger Pori Evanton Aberdeen Oslo St. Petersburg Newcastle Calgary London The Hague St. Johns Dsseldorf Le Trait Paris Lyon Rome Los Angeles Barcelona Athens Houston Abu Dhabi Shanghai…
Technip: a Fleet of 19 Vessels by 2010 Current fleet: 16 vessels 3 new ships New build Diving Support Vessel Class III Deep Blue Deep Pioneer Sunrise 2000 Venturer Largest & most sophisticated in its category Statoil frame…
Attract and Develop Qualified Resources Worldwide Technip headcount by location Middle East 23,000 Asia-Pacific India 18,000 Russia, Central Asia +25% CAGR Africa South America North America Other Europe Germany 6,000…
Subsea operating margin ahead of October 2007 targets in millions 3,250 Revenue 2,950 New forecast 2,700 2,478 2,209 New target 18.0% 16.0% Operating Margin* 15.5% 15.8% 9.7% 6.6% 0 2005 2006 2007 2008F 2009E…
June 30, 2008 Backlog Estimated Scheduling in millions Subsea Offshore Onshore Group 2H 2008 1,436 265 1,899 3,600 2009 1,243 160 1,939 3,342 2010+ 820 56 235 1,111 Total 3,499* 481 4,073 8,053 *Excludes Block 31…
III. Subsea Market Position & Trends Pareto Securities Oil & Offshore Conference 15
Market evolution: Subsea Key Indicators Market by Region Installed Umbilicals Subsea Trees (km) (units by onstream year) 10.0 10.3 9.6 7.9 Asia Pacific 8,000 800 7.5 GoM 600 5.9 Brazil 6,000 Africa & Med. 4,000 400 Mid. East,…
Subsea Market Growth and Fleet Expansion Industry Key Indicators Vessels currently working near full High Capacity capacity 41 Vessels +70% 10.3 bn Subsea Key differentiating factors 24 Awards +75% Installation equipment…
Technips main Capex projects to fuel Subsea organic growth New DSV Capacity Increase 2010 Capacity New DSV (2007 - 2010) +20% 5,800 Vessels +40% Vessel-days days/year Le Trait Flexible +40% 1,100 km/year* Pipes Houston…
Technological Solutions to address new challenges: Deeper Water Nakika (Shell) Perdido (Shell) Chinook & Cascade (Petrobras) Reeled Pipe-in-pipe Steel Spar operating with the A new application of FSHR further to the Catenary Risers…
Profitable Growth Increasing Subsea content Reducing risk profile and balancing portfolio Differentiating strategy based on human resources, assets and technologies Reenergizing management Group culture focusing on…
First Half Income Statement in millions, (not audited) 3,640.5 3,619.3 +0.6% Revenue 366.2 307.3 +19.2% EBITDA(1) 294.4 +24.7% 236.0 Operating Income(2) 192.9 +30.6% 147.7 Net Income 1.83 +29.8% 1.41 EPS 1H 2007…
Subsea in millions, (not audited) Segment 1,182 1,152 Revenue Revenue stable (2.6)% Revenue recognition on Agbami slipped, while MA-D6 1H 07 1H 08 provided good input Segment 276 219 Strong operating income 24.0% EBITDA1…
Offshore in millions, (not audited) Segment 406 346 Revenue declined 14.7% year-on-year as expected Lower contribution from Akpo FPSO in second quarter 2008 Revenue and completion of Dalia FPSO in June 2007 (15)% Operating…
Onshore in millions, (not audited) Revenue stable compared to last year Segment As major EPC lumpsum contracts are executed 2,142 2,031 Revenue Operating margin continues to improve +6% Our de-risking strategy on new projects…
First Half Group Income Statement in millions, except EPS 1H 07 1H 08 Change ex. FX impact Revenue 3,619.3 3,640.5 0.6% 7.8% EBITDA* 307.3 366.2 19.2% 23.2% Operating Income from Recurring Activities 236.0 294.4 24.7% 28.0% Income…
Group Balance Sheet in millions Dec. 31, 2007 June 30, 2008 FIXED ASSETS 3,279.1 3,319.5 OTHER ASSETS 2,418.7 2,452.2 CASH & CASH EQUIVALENTS 2,401.5 2,155.8 TOTAL ASSETS 8,099.3 7,927.5 SHAREHOLDERS EQUITY (incl. min.…
First Half 2008 in millions Net Cash Flow Statement Net Cash as of December 31, 2007 1,704.3 Operating Cash Flow 268.9 Capex (147.8) Working Capital (172.3) Dividends payment (125.1) Others (62.1) Net Cash as of June 30,…
Subsea Return on Capital Employed in millions Subsea Others** Group 2006 2007 1H 08 2006 2007 1H 08 2006 2007 1H 08 Non Current Assets 2,701 2,763 2,840 698 701 674 3,399 3,464 3 514 Working Capital and Others (601) (1,131)…
2008 Full Year Outlook* Revenue Subsea 2.7 billion Offshore / Onshore 4.7 billion Group 7.4 billion Operating Margin Subsea 18.0% Offshore / Onshore (combined) reaffirmed 3.8% Group 8.0% Net Cash Situation 1.1 - 1.3 billion…
Balancing backlog mix: segment, region and market Segment Region Market June 30, 2008 8,053 June 30, 2008 8,053 Asia Europe / Russia Onshore 68% Other Pacific Central Asia Petrochems 51% 7% 2% Deepwater 10% 22% Refining /…
Backlog by Contract Award Date as of June 30, 2008 Subsea Offshore Onshore 3,499 million 481 million 4,073 million 4% 6% 8% 7% 25% 34% 43% 25% 49% 56% 14% 29% < 2005 2005 2006 2007 1H 2008 Pareto Securities Oil &…
Solid fundamentals and outlook for the oil & gas industry Oil supply and E&P Capex evolution CAPEX in US billion mb/d 360 90 Global Oil Demand Growth 35% Production 80 of current 320 Depletion Effect * Capacity production 280…
High Capex level required to increase production capacities Canadian Tar Sands LNG Demand Production O&G Expenditures mb/d Bcm 4 (Average per year) 600 3 450 + 7% pa. 2 300 1 420 bn 150 + 10% pa. 0 12% 0 2005 2010 2015 2020…
Continuous shift of oil & gas onshore markets towards the East Relative importance of Middle-East and Asia 2,380 Gboe 88 Mt 28 Mt 7.3 Mb/d 24 Mboe/d 100% Africa Europe & Eurasia 80% South America North America 60% 93%…
Onshore markets Technip Backlog Anticipated Market Growth (June 30, 2008) 12 (mt) Total: 4,073 million Ethylene 8 capacity addition 4 Petrochems Other Gas processing 0 Ethylene Gas treatment 2005 2012 Polyolefins 4% LNG PTA…
Multi-local Engineering Capacity 3 million 8.5 million Aberdeen Oslo St. Petersburg The Hague Calgary St. Johns Paris Lyon Barcelona Rome 4.5 million Los Angeles Athens Houston Abu Dhabi Shanghai Doha New Delhi Mumbai…
Strong Relationship with both IOCs & NOCs Gas Refining, Offshore Subsea processing / Hydrogen, Petrochems Recent projects facilities LNG Heavy oils P P P P Shah Deniz, Greater Plutonio, Secco PE P P P P Tahiti, Greater Gorgon,…
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