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Q3 2008 RESULTS – Technip

Technip · Nov 13, 2008 · 31 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q3 2008 RESULTS – Technip – slide 1
    Third Quarter 2008 Results November 13, 2008
  2. Q3 2008 RESULTS – Technip – slide 2
    I. Third Quarter 2008 Review II. Backlog Analysis III. Capex Status IV. Outlook Third Quarter 2008 Results 2
  3. Q3 2008 RESULTS – Technip – slide 3
    Third Quarter 2008 Group Financial Highlights in millions, except EPS (not audited) 3Q07 3Q08 Change ex. FX impact Revenue 2,166.0 1,932.9 (10.8)% (5.7)% EBITDA(1) 154.9 244.9 +58.1% +66.5% EBITDA margin 7.2% 12.7% 552bp Operating…
  4. Q3 2008 RESULTS – Technip – slide 4
    Subsea Figures 834 in millions (not audited) 748 789 648 Revenue +21.8% Order Intake 3Q 07 3Q 08 11.6% 3Q 07 3Q 08 216 27.4% 140 21.6% EBITDA Margin +54.4% +579bp 3,565 3Q 07 3Q 08 3Q 07 3Q 08 2,630 Backlog 161…
  5. Q3 2008 RESULTS – Technip – slide 5
    Subsea Operational Highlights Operations / Projects High vessel utilization rate of 86% Hurricane Ike in Gulf of Mexico pushed work into 4Q08 and 2009. FY2008 revenue impact roughly 14 million Strong activity in North Sea as…
  6. Q3 2008 RESULTS – Technip – slide 6
    Offshore Figures in millions (not audited) 161 155 107 91 Revenue Order Intake (3.5)% (14.8)% 3Q 07 3Q 08 3Q 07 3Q 08 8.6 8.5 5.3% 5.5% 521 421 Operating Margin Backlog Income* +13bp (19.3)% = 3Q 07 3Q 08 3Q 07…
  7. Q3 2008 RESULTS – Technip – slide 7
    Offshore Operational Highlights Operations / Projects Perdido SPAR hull was handed over to Shell on August 8th Akpo FPSO has arrived on site in Nigeria P-51 was christened by President Lula of Brazil for Petrobras; P-56 execution on…
  8. Q3 2008 RESULTS – Technip – slide 8
    Onshore Figures in millions (not audited) 1,076 1,357 988 626 Revenue Order Intake (27.2)% (41.8)% 3Q 07 3Q 08 3Q 07 3Q 08 6,259 39 4.0% 3,732 Operating Margin Backlog Income* +364bp (40.4)% 8.5x 5 0.3% 3Q 07…
  9. Q3 2008 RESULTS – Technip – slide 9
    Onshore Operational Highlights Operations / Projects Discussions on QatarGas III & IV are ongoing. QatarGas II first train, number 4, Utilities were handed over to the client in August and the inlet facilities in September LNG…
  10. Q3 2008 RESULTS – Technip – slide 10
    Third Quarter Group Income Statement in millions (not audited) 3Q 07 3Q 08 Change Revenue 2,166.0 1,932.9 (10.8)% EBITDA* 154.9 244.9 58.1% Operating Income from Recurring Activities 119.0 179.0 50.4% Income from Activity Disposal…
  11. Q3 2008 RESULTS – Technip – slide 11
    Group Balance Sheet in millions (not audited) Dec. 31, 2007 Sept. 30, 2008 FIXED ASSETS 3,280.4 3,364.9 OTHER ASSETS 2,417.4 2,611.9 CASH & CASH EQUIVALENTS 2,401.5 2,222.2 TOTAL ASSETS 8,099.3 8,199.0 SHAREHOLDERS EQUITY…
  12. Q3 2008 RESULTS – Technip – slide 12
    First Nine Months 2008 Net Cash Flow Statement in millions (not audited) 9 months 3 months Net Cash beginning of period 1,704.3 1,465.9 Operating Cash Flow 451.6 182.7 Capex (255.9) (108.1) Working Capital (208.0) (35.7)…
  13. Q3 2008 RESULTS – Technip – slide 13
    Financial Risk Management Strong cash position as of September 30, 2008 Total Cash 2,222 million Net Cash 1,555 million Debt financing has a long horizon 650 million straight bond maturing May 2011 Unused confirmed credit…
  14. Q3 2008 RESULTS – Technip – slide 14
    Nine Months 2008 Subsea Return on Capital Employed in millions (not audited) SUBSEA OTHERS** GROUP 2006 2007 9m 08 2006 2007 9m 08 2006 2007 9m 08 Non Current Assets 2,701 2,763 2,896 698 701 700 3,399 3,464 3,596 Working…
  15. Q3 2008 RESULTS – Technip – slide 15
    II. Backlog Analysis Third Quarter 2008 Results 15
  16. Q3 2008 RESULTS – Technip – slide 16
    Balance of Backlog per Segments and Markets Business Segment Split Market Split Other Petrochems ONSHORE 70% 4% 66% 5% Deepwater 48% Refining / 20% 38% Heavy Oil 6% OFFSHORE 6% 46% 6% 19% 14% Gas / LNG 24% 28% Shallow…
  17. Q3 2008 RESULTS – Technip – slide 17
    Balance of Backlog per Regions Sept. 30, 2007 Sept. 30, 2008 9,411 million 7,717 million Europe / Europe / Asia Russia Asia Russia Pacific Central Asia Pacific Central Asia 12% 17% 8% 22% Americas Americas 18% 25% 22% 10%…
  18. Q3 2008 RESULTS – Technip – slide 18
    Backlog by Contract Award Date as of Sept. 30, 2008 SUBSEA OFFSHORE ONSHORE 3,564 million 421 million 3,732 million 2% 8% 5% 2% 5% 31% 20% 40% 46% 50% 13% 56% 22% < 2005 2005 2006 2007 9m 2008 Third Quarter 2008…
  19. Q3 2008 RESULTS – Technip – slide 19
    III. Capex Status Major Capex progress as of Sept. 30, 2008 2007 2010 Investment Program Update Third Quarter 2008 Results 19
  20. Q3 2008 RESULTS – Technip – slide 20
    Major Capex Progress as of September 30, 2008 ASIA FLEX 27% Physical Progress Malaysia 10% Payment Progress (Current accounting method) PLSV 36% Brazil Charter: 4 years 24% Option: 4 years NPV 32% Worldwide 29%…
  21. Q3 2008 RESULTS – Technip – slide 21
    2007 2010 Capex Program 2007 Capex (actual) 262 million 2008 Capex As of September 30, 2008: 256 million (actual) Full Year estimate: 400 million 2009 - 2010 Capex Previous estimate of 650 750 million is under review…
  22. Q3 2008 RESULTS – Technip – slide 22
    IV. Outlook Third Quarter 2008 Results 22
  23. Q3 2008 RESULTS – Technip – slide 23
    2008 Full Year Outlook* Revenue Subsea 2,650 million Onshore / Offshore 4,650 million Group 7,300 million Operating Margin Subsea Well above 18.0% Onshore / Offshore (combined) reaffirmed 3.8% Group 8.0% Upper end of 1.1 - 1.3…
  24. Q3 2008 RESULTS – Technip – slide 24
    Business Environment Diverse reactions to the oil price decline and financial crisis Clients, competitors, suppliers Well advanced projects likely to proceed normally, future investments in new projects more likely to be…
  25. Q3 2008 RESULTS – Technip – slide 25
    Technips differentiating attributes Diversified and profitable Subsea backlog with visibility into 2010 Strong balance sheet with 1,555 million Net Cash Well balanced portfolio by client, segment and geographically First class…
  26. Q3 2008 RESULTS – Technip – slide 26
    For more information, please contact: INVESTOR RELATIONS Kimberly Stewart Tel. +33 (0)1 47 78 66 74 e-mail: kstewarttechnip.com Antoine dAnjou Tel. +33 (0)1 47 78 30 18 e-mail: adanjoutechnip.com Third Quarter 2008…
  27. Q3 2008 RESULTS – Technip – slide 27
    Technip ISIN: FR0000131708 Bloomberg: TEC FP Reuters: TECF.PA SEDOL: 4874160 Third Quarter 2008 Results 28
  28. Q3 2008 RESULTS – Technip – slide 28
    Annex: Sept. 30, 2008 Backlog Estimated Scheduling in millions (not audited) Subsea Offshore Onshore Group 4Q 2008 682 88 807 1,577 2009 1,726 224 2,050 4,000 2010+ 1,156 109 875 2,140 Total 3,564 421 3,732 7,717 Third…
  29. Q3 2008 RESULTS – Technip – slide 29
    Annex: 9 months Group Income Statement in millions, except EPS (not audited) ex. FX 9m 07 9m 08 Change impact Revenue 5,785.3 5,573.4 (3.7)% 2.6% EBITDA* 462.2 611.1 32.2% 37.7% Operating Income from Recurring 355.0 473.4 33.4%…
  30. Q3 2008 RESULTS – Technip – slide 30
    Annex: Nine months 2008 Business Segment Operating Performance in millions (not audited) SUBSEA OFFSHORE ONSHORE Revenue 1,941.5 501.4 3,130.5 Change 6.1% (11.5)% (7.6)% Operating Income from recurring activities 378.0 27.1…
  31. Q3 2008 RESULTS – Technip – slide 31
    Third Quarter 2008 Results November 13, 2008

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