Skip to main content FIRST HALF 2005 RESULTS – Technip Investor Presentation | Shale Experts
Loading...
Pm

FIRST HALF 2005 RESULTS – Technip

Technip · Jul 28, 2005 · 59 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. FIRST HALF 2005 RESULTS – Technip – slide 1
    FIRST HALF 2005 RESULTS JULY 28, 2005
  2. FIRST HALF 2005 RESULTS – Technip – slide 2
    Highlights Order Intake: 4.2 billion Backlog at June 30: 8.2 billion EPS: up 15.6% y-o-y First Half 2005 Results 2
  3. FIRST HALF 2005 RESULTS – Technip – slide 3
    I. FIRST HALF 2005 GROUP FIGURES II. PROJECT EXECUTION III. STRATEGY IV. OUTLOOK First Half 2005 Results 3
  4. FIRST HALF 2005 RESULTS – Technip – slide 4
    I. FIRST HALF 2005 GROUP FIGURES 1. Main Numbers 2. Business Segment Performance 3. Order Intake 4. Backlog 5. Cash Flow 6. Net Financial Debt First Half 2005 Results 4
  5. FIRST HALF 2005 RESULTS – Technip – slide 5
    1. First Half 2005 Main Figures IFRS in Millions Order Intake Revenues Operating Income Earnings per Share () +111.6% +0.3% +13.2% +15.6% 4,166 2,524 2,532 116.4 1,969 102.8 0.60 0.52 H1 04 H1 05 H1 04 H1 05 H1 04 H1…
  6. FIRST HALF 2005 RESULTS – Technip – slide 6
    2. Business Segment Performance IFRS Offshore Onshore in Millions SURF Industries Facilities Downstream Backlog 1,939 1,243 4,887 141 +4.5% +21.7% +54.7% -52.3% Revenues 873.6 415.4 1,111.2 132.0 +22.0% -18.2% -5.2% +3.3% Op.…
  7. FIRST HALF 2005 RESULTS – Technip – slide 7
    3.1 First Half 2005 Order Intake 4,166 1.3% Industries +112% 57.4% Onshore Downstream 1,969 4.9% 29.5% 17.6% Offshore Facilities ORDER INTAKE 27.0% in millions 23.7% SURF 38.6% H1 2004 H1 2005 BOOK-TO-BILL 78% 165%…
  8. FIRST HALF 2005 RESULTS – Technip – slide 8
    3.2 Main Additions to Backlog during 1st Half 2005 Project Country Market Yanbu Ethylene Saudi Arabia Petrochemicals Horizon Oil Sands Canada Heavy Oil Dung Quat Refinery Vietnam Refining Akpo FPSO Nigeria Deepwater P-52 SURF…
  9. FIRST HALF 2005 RESULTS – Technip – slide 9
    4.1 Backlog 8,210 7,184 +14% 6,778 +6% 5,804 +17% Backlog in Millions 09-30-04 12-31-04 03-31-05 06-30-05 In months of 13.6 15.8 16.9 19.1 revenues Record backlog at June 30, 2005 First Half 2005 Results 9
  10. FIRST HALF 2005 RESULTS – Technip – slide 10
    4.2 Backlog: Market Split As of June 30, 2004: As of June 30, 2005: 6,331 M 8,210 M Other Other Refining 3% Refining 9% Deepwater Deepwater Heavy Oil 24% Heavy Oil 29% 20% 18% 15% 17% 16% Shallow 22% Shallow Gas Gas Water…
  11. FIRST HALF 2005 RESULTS – Technip – slide 11
    5. First Half 2005 Cash Flow IFRS in Millions SOURCES USES Operating Cash Flow 161 Capex 31 Capital Increase 2 Dividend 32 FETA and Other 22 Working Capital 53 Cash 69 TOTAL 185 TOTAL 185 First Half 2005 Results 11
  12. FIRST HALF 2005 RESULTS – Technip – slide 12
    6. Net Financial Debt IFRS 167 -50% Net Debt 83 in Millions 12-31-2004 06-30-2005 Gearing 9.0% 4.3% De-leveraged balance sheet is a key success factor for winning large lump-sum turnkey contracts. First Half 2005…
  13. FIRST HALF 2005 RESULTS – Technip – slide 13
    II. PROJECT EXECUTION 1. Project Management 2. Technip People 3. The Workforce Leverage 4. Flexibility 5. Fixed Assets: Vessels 6. Asset Management First Half 2005 Results 13
  14. FIRST HALF 2005 RESULTS – Technip – slide 14
    1. Project Management Main Challenges Project Management Policies At bidding stage During project execution Currency Multi-currency bids Strict monitoring and fluctuations Shorter validity of offers hedging of forex exposure…
  15. FIRST HALF 2005 RESULTS – Technip – slide 15
    2. Technip People: Our No. 1 Asset Number of Group Project Directors & Managers 307 Number of Group Process Engineers 850 Turnover in main centers (Paris and Rome) 1.8% Years with the Group 14.8 Highly competent, loyal and…
  16. FIRST HALF 2005 RESULTS – Technip – slide 16
    3.1 The Workforce Leverage TYPICAL LSTK CONTRACT On lump-sum turnkey (LSTK) Revenues contracts, in-house workforce costs account for 10% to 15% of the total contract value In-house workforce mobilization is sustained during a…
  17. FIRST HALF 2005 RESULTS – Technip – slide 17
    3.2 Workforce Leverage and Economies of Scale Estimated In-house Staff Needed to Generate 1 Billion Revenue from: 50 service contracts worth 20 million each: 2,500 10 LSTK contracts worth 100 million each: 850 1 LSTK contract…
  18. FIRST HALF 2005 RESULTS – Technip – slide 18
    4.1 Flexibility: The Workforce Structure Technip Headcount (June 2005): 20,000 Current Structure Net Additions (since June 2004) Payroll 74.2% 590 people Contracted 25.8% 410 people Structure of the workforce allows…
  19. FIRST HALF 2005 RESULTS – Technip – slide 19
    4.2 Flexibility: Russia The Network 100 Shanghai 485 Bangkok NE 200 Europe 4,400 * Kuala- Jakarta Lumpur 260 1,015 USA 2,070 Chennai Bogota France 180 3,775 405 Rome 1,170 Brazil Caracas 1,940 New Delhi 365 325…
  20. FIRST HALF 2005 RESULTS – Technip – slide 20
    4.3 Flexibility: The Network How It Works at Technip Example: Ras Laffan Ethylene (815,000 Manhours) PARIS PARIS 520,000 520,000 Manhours Manhours QATAR QATAR Construction Construction Site Site CLAREMONT CLAREMONT…
  21. FIRST HALF 2005 RESULTS – Technip – slide 21
    5. Fixed Assets: Vessels Utilization Rates of Technip Fleet 100% 95% Construction 88% Vessels 87% 90% 80% 71% 70% Diving Support 70% 68% Vessels 61% 62% 60% 50% 2002 2003 2004 H1 2005 - Availability of third-party…
  22. FIRST HALF 2005 RESULTS – Technip – slide 22
    6. Further Adaptation of Our Assets to Our Business Needs DISPOSALS INVESTMENTS One DSV (Marianos) sold to a One new vessel will replace the third-party in South East Asia DSV Orelia to serve the Statoil Effective: End August 2005…
  23. FIRST HALF 2005 RESULTS – Technip – slide 23
    III. STRATEGY 1. Oil Market: The Capacity Squeeze 2. Overall Business Strategy 3. Strategic Initiatives Bearing Fruit First Half 2005 Results 23
  24. FIRST HALF 2005 RESULTS – Technip – slide 24
    1. Oil Market: The Capacity Squeeze Upstream 2004 / 2003 Oil demand +3.4% Highest growth in 20 years World oil reserves 0% No growth OPEC spare capacity 2% Lowest level in 30 years (% of world demand) Downstream 2004 / 2003…
  25. FIRST HALF 2005 RESULTS – Technip – slide 25
    2. Overall Business Strategy Drivers Key Business Technips Strategy Segments Maintain Create Near Term Long Term Leadership Leadership Growth Areas Growth Areas Deep Offshore Depletion of Extra-Heavy Oil conventional oil…
  26. FIRST HALF 2005 RESULTS – Technip – slide 26
    3. Strategic Initiatives Bearing Fruit INITIATIVE RESULT Offshore Acquisition of Aker FPSOs, Semi-Subs, Deepwater and Coflexip large SURF contracts (2001) (from 2003) LNG Alliance with Chiyoda Qatargas II (2004) (2002) Well…
  27. FIRST HALF 2005 RESULTS – Technip – slide 27
    IV. OUTLOOK 1. Additional Awards 2. Radar Screen 3. 2005 Financial Targets First Half 2005 Results 27
  28. FIRST HALF 2005 RESULTS – Technip – slide 28
    1. Additional Awards Project Country Market AGBAMI SURF (contract) Nigeria Deepwater SUBSEA SERVICES Norway Shallow Water (2 contracts) RAS LAFFAN (LOI) Qatar Petrochemicals DOW PIC (MOU) Kuwait Petrochemicals KHURSANIYAH…
  29. FIRST HALF 2005 RESULTS – Technip – slide 29
    2. Major Awards Expected by Technip and Competition in Next 12 Months OFFSHORE GAS/LNG REF./PETROCHEM. RASGAS III Offshore ECOPETROL HDT (Qatar) L RASGAS III (Qatar) XXL L (Colombia) MOHO BILONDO ATC Aromatics L YEMEN LNG XL…
  30. FIRST HALF 2005 RESULTS – Technip – slide 30
    3. 2005 Financial Targets (IFRS) Revenues: EUR 5.0 billion Operating Margin: 4.8% Net Income: EUR 112.4 million First Half 2005 Results 30
  31. FIRST HALF 2005 RESULTS – Technip – slide 31
    For more information, please contact: INVESTOR RELATIONS G. Christopher Welton Tel. +33 (0) 1 47 48 66 74 e-mail: cweltontechnip.com Xavier dOuince Tel. +33 (0) 1 47 78 25 75 e-mail: xdouincetechnip.com First Half 2005…
  32. FIRST HALF 2005 RESULTS – Technip – slide 32
    Trading Technip ISIN FR0000131708 First Half 2005 Results 32
  33. FIRST HALF 2005 RESULTS – Technip – slide 33
    V. ANNEXES 1. 1st Half 2005 Accounts 2. 2nd Quarter 2005 Accounts 3. Focus on Backlog 4. Contract Awards First Half 2005 Results 34
  34. FIRST HALF 2005 RESULTS – Technip – slide 34
    ANNEX 1: 1st HALF 2005 ACCOUNTS 1. Income Statement 2. Balance Sheet 3. U.S GAAP Net Income First Half 2005 Results 35
  35. FIRST HALF 2005 RESULTS – Technip – slide 35
    1. H1 2005 Group Income Statement* IFRS in Millions H1 2005 H1 2004 Change Revenues 2,532.2 2,523.7 0.3% Gross Margin 279.9 271.9 2.9% R&D and Royalties (13.8) (15.7) -12.1% SG&A and Other Costs (149.7) (153.4) -2.4% Operating Income…
  36. FIRST HALF 2005 RESULTS – Technip – slide 36
    2.1 June 30 2005 Balance Sheet* IFRS June 30, 2005 Dec. 31, 2004 in Millions Fixed Assets 3,234.6 3,232.5 Deferred Tax Assets 145.0 66.6 TOTAL NON-CURRENT ASSETS 3,379.6 3,299.1 Construction Contracts 310.2 400.6 Inventories,…
  37. FIRST HALF 2005 RESULTS – Technip – slide 37
    2.2 June 30 2005 Balance Sheet* IFRS June 30, 2005 Dec. 31, 2004 in Millions Shareholders Equity 1,927.4 1,851.6 Minority Interests 11.0 9.8 TOTAL SHAREHOLDERS EQUITY 1,938.4 1,861.4 Convertible Bond 634.1 670.9 Other Long-Term Debt…
  38. FIRST HALF 2005 RESULTS – Technip – slide 38
    3. U.S. GAAP Net Income in Millions H1 2005 IFRS Net Income 55.0 Difference IAS 32/39 & FAS 133 and Other 5.6 U.S. GAAP Net Income 60.6 Not Audited First Half 2005 Results 39
  39. FIRST HALF 2005 RESULTS – Technip – slide 39
    ANNEX 2: 2nd QUARTER 2005 ACCOUNTS 1. Main Figures 2. Business Segment Performance 3. Income Statement 4. Cash Flow First Half 2005 Results 40
  40. FIRST HALF 2005 RESULTS – Technip – slide 40
    1. Q2 2005 Main Figures IFRS in Millions Order Intake Revenues Operating Income Earnings per Share () +111.4% +4.4% +10.9% +4.9% 2,309 1,331 1,275 66.0 59.5 1,092 0.33 0.35 Q2 04 Q2 05 Q2 04 Q2 05 Q2 04 Q2 05 Q2 04 Q2…
  41. FIRST HALF 2005 RESULTS – Technip – slide 41
    2. Q2 2005 Business Segment Performance IFRS Offshore Onshore in Millions SURF Industries Facilities Downstream Revenues 472.8 235.6 557.9 64.6 +4.5% +21.7% +54.7% -52.3% Op. Income 37.6 6.5 20.5 1.5 +30.9% -4.5% -7.0% -3.6%…
  42. FIRST HALF 2005 RESULTS – Technip – slide 42
    3. Quarterly Group Income Statement* IFRS in Millions Q2 2005 Q2 2004 Change Revenues 1,330.9 1,274.8 4.4% Gross Margin 145.1 145.5 -0.3% R&D and Royalties (6.9) (8.8) -21.6% SG&A and Other Costs (72.2) (77.2) -6.5% Operating Income…
  43. FIRST HALF 2005 RESULTS – Technip – slide 43
    4. Q2 2005 Cash Flow IFRS in Millions SOURCES USES Operating Cash Flow 99 Capex 14 Working Capital 21 Dividend 32 Debt 11 Cash 94 FETA and Other 9 TOTAL 140 TOTAL 140 First Half 2005 Results 44
  44. FIRST HALF 2005 RESULTS – Technip – slide 44
    ANNEX 3: FOCUS ON BACKLOG 1. Regional Split 2. Schedule First Half 2005 Results 45
  45. FIRST HALF 2005 RESULTS – Technip – slide 45
    1. Backlog: Regional Split As of June 30, 2004: As of June 30, 2005: 6,331 M 8,210 M Asia Europe Asia Europe Pacific Central Asia Pacific Central Asia 9% 13% 12% 19% Americas 17% Americas 20% Africa 22% 29% 26% Middle East…
  46. FIRST HALF 2005 RESULTS – Technip – slide 46
    2.1 Main Offshore Contract Execution Schedule 2005 2006 2007 BAOBAB (100%) - 125 Deep & Shallow Water Contracts 100 Mn: CONSTITUTION (100%) - Undisclosed Contract Name (Groups Share in %) Initial Value of SIMIAN SAPPHIRE (100%) - 550…
  47. FIRST HALF 2005 RESULTS – Technip – slide 47
    2.2 Main Onshore Downstream Contract Execution Schedule 2005 2006 2007 TAKREER (100%) - 480 Onshore Downstream Contracts 100 Mn: MOH (100%) - 300 Contract Name (Groups Share in %) Initial Value of OMIFCO (50%) - 385 Groups Share in…
  48. FIRST HALF 2005 RESULTS – Technip – slide 48
    2.3 Backlog: Estimated Scheduling in Millions Offshore Onshore SURF Facilities Downstream Industries Group 2005 (2nd Half) 791 506 1,015 103 2,415 2006 1,103 511 2,040 26 3,680 2007 and Beyond 45 226 1,832 12 2,115 Total 1,939…
  49. FIRST HALF 2005 RESULTS – Technip – slide 49
    ANNEX 4: CONTRACT AWARDS First Half 2005 Results 50
  50. FIRST HALF 2005 RESULTS – Technip – slide 50
    Kikeh Spar Client: Murphy Oil Water depth: 1,330 m Completion: 2006 Deep Blue and Nansen SPAR Kikeh First deep offshore development Malaysia in Malaysia. First Spar to be installed outside Gulf of Mexico. First…
  51. FIRST HALF 2005 RESULTS – Technip – slide 51
    Horizon: Extra Heavy Oil Upgrading Client: Canadian Natural Resources Ltd. Coker: 123 000 B/D Hydrogen: 144 M CFD Value: 700 M Sincor Upgrader Canada Canadian non-conventional oil resources represent 36% of the…
  52. FIRST HALF 2005 RESULTS – Technip – slide 52
    P-52 SURF Client: Petrobras Water depth: 2,000 m Supply: 221 km of flexible pipes Value: 350 M Execution: JV Technip & Subsea 7 Dalia SURF P-52 A new significant development Rio de Janeiro in deep water offshore…
  53. FIRST HALF 2005 RESULTS – Technip – slide 53
    Khursaniyah Gas Plant Client: Saudi Aramco Production: 560 MSCFD of sales gas 300,000 B/D of natural gas liquids 1,800 T/D of liquid sulfur Execution: JV Technip & Bechtel OGD2 Khursaniyah A new major grass-root gas plant…
  54. FIRST HALF 2005 RESULTS – Technip – slide 54
    Hovensa Hydrotreating Unit Client: Hovensa Production: 50,000 BPSD of low Sulfur Gasoline Completion: 2006 Curaao Refinery Miami Gulf of Mexico A new step for the Group to strengthen its position in the Virgin Islands…
  55. FIRST HALF 2005 RESULTS – Technip – slide 55
    Dung Quat Refinery Client: PetroVietnam Production: 145,000 B/D Completion: 2008 Execution: Technip & Partners Midor Refinery Dung Quat The first crude oil refinery in Vietnam, awarded to a Technip led consortium…
  56. FIRST HALF 2005 RESULTS – Technip – slide 56
    Akpo FPSO Client: Total Water depth: 1,100 - 1,700 m Prod. capacity: 225,000 BOE/D Storage capacity: 2 MB Value: 540 M Completion: 2008 Execution: Technip & HHI Dalia FPSO After Dalia FPSO, Akpo FPSO Nigeria confirms Technip…
  57. FIRST HALF 2005 RESULTS – Technip – slide 57
    Kikeh SURF Client: Murphy Oil Water depth: 1,330 m Supply: Flexible Pipes, Riser, Umbilicals Completion: 2007 Execution: JV Technip & Subsea 7 Deep Blue and Nansen SPAR Kikeh After obtaining the first Spar Malaysia…
  58. FIRST HALF 2005 RESULTS – Technip – slide 58
    Agbami SURF Client: Chevron Water depth: 1,550 m Supply: Flexible Pipes, Risers, Umbilicals Value: 840 M Completion: 2008 Dalia SURF Nigeria A new significant SURF contract offshore Nigeria Agbami First Half 2005…
  59. FIRST HALF 2005 RESULTS – Technip – slide 59
    Steamcrackers YANBU - SAUDI ARABIA: Status Contract Client: SABIC Kuwait Capacity: 1.3m T/Y Ethylene Qatar 0.4m T/Y Propylene Saudi Arabia RAS LAFFAN - QATAR: Status Letter of Intent Client: QP / CPC / Total Capacity: 1.3m T/Y…

From the store

Browse maps, data & reports in the Shale Experts store