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FEBRUARY 2007 RESULTS – Technip

Technip · Feb 21, 2008 · 47 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. FEBRUARY 2007 RESULTS – Technip – slide 1
    2007 Results Business Outlook February 21, 2008
  2. FEBRUARY 2007 RESULTS – Technip – slide 2
    Fourth Quarter and Full Year 2007 Financial Highlights Fourth Quarter Full Year* in Millions, except EPS and dividend 2007 2006 2007 2006 Revenue 2,101.2 1,982.3 7,886.5 6,926.5 Operating Income** - 108.0 113.8 247.0 333.2…
  3. FEBRUARY 2007 RESULTS – Technip – slide 3
    Fourth Quarter 2007 Highlights SURF: record operating margin from recurring activities of 18.5% Onshore-Downstream: legacy contract portfolio clarified following substantial charges mainly associated with the situation in Qatar…
  4. FEBRUARY 2007 RESULTS – Technip – slide 4
    Full Year 2007 Highlights Revenue up 14% Group order intake of 7.2 billion, up 17% Record operating performance in SURF with continuous quarterly improvement in 2007 Offshore Facilities: P-56 awarded (Brazil)…
  5. FEBRUARY 2007 RESULTS – Technip – slide 5
    Contents I. Full Year 2007 Group Figures II. 2007 Projects and Awards III. Focus on and Enhance Operational Performance IV. 2008 Financial Outlook Full Year 2007 Results 5
  6. FEBRUARY 2007 RESULTS – Technip – slide 6
    I. Full Year 2007 Group Figures 1. Business Segment Performance 2. Income Statement 3. Cash Flow and Capex 4. SURF ROCE Full Year 2007 Results 6
  7. FEBRUARY 2007 RESULTS – Technip – slide 7
    1.1 SURF in Millions, (audited) 3,477 391 15.8% 2,478 2,719 2,209 214 9.7% 12/31/06 12/31/07 FY 06 FY 07 FY 06 FY 07 FY 06 FY 07 Backlog: Revenue: Operating Income*: Operating Margin*: + 28% + 12% + 83% + 610bp Robust…
  8. FEBRUARY 2007 RESULTS – Technip – slide 8
    1.1 SURF Development Program: 2007 Milestones June Expansion of Le Trait (+20%) and Vitoria (+50%) flexible pipe manufacturing plants production capacities August Seamec Princess converted into DSV and operational New-built diving…
  9. FEBRUARY 2007 RESULTS – Technip – slide 9
    1.2 Offshore Facilities in Millions, (audited) 742 1,196 62 5.2% 4.8% 551 739 35 12/31/06 12/31/07 FY 06 FY 07 FY 06 FY 07 FY 06 FY 07 Backlog: Revenue: Operating Income*: Operating Margin*: - 26% - 38% - 44% - 40bp As…
  10. FEBRUARY 2007 RESULTS – Technip – slide 10
    1.3 Onshore-Downstream in Millions, (audited) 6,650 4,437 68 2.1% 5,137 3,318 - 3.9% - 173 12/31/06 12/31/07 FY 06 FY 07 FY 06 FY 07 FY 06 FY 07 Backlog: Revenue: Operating Income*: Operating Margin*: - 23% + 34% nm - 600bp…
  11. FEBRUARY 2007 RESULTS – Technip – slide 11
    1.3 Qatar gas projects status Figures related to all of the four projects: QG II, RG III, QG III & IV, AKG2 January 30, 2008 Very shortly after Chiyoda/Technip JV signed an agreement on QatarGas II Technip disclosed that it would…
  12. FEBRUARY 2007 RESULTS – Technip – slide 12
    1.4 Industries in Millions, (audited) 225 233 162 204 15 6.5% 11 5.5% 12/31/06 12/31/07 FY 06 FY 07 FY 06 FY 07 FY 06 FY 07 Backlog: Revenue: Operating Income: Operating Margin: + 39% + 14% + 35% + 100bp Industries…
  13. FEBRUARY 2007 RESULTS – Technip – slide 13
    2. Full Year Group Income Statement in Millions (audited) FY 07 FY 06 Change Revenue 7,886.5 6,926.5 + 13.9% Operating Income from 247.0 333.2 - 25.9% Recurring Activities Income from Activity Disposal 19.9 26.9 nm Operating Income…
  14. FEBRUARY 2007 RESULTS – Technip – slide 14
    3. Cash Flow & Capex CAPEX ( in millions) 262 In 2007, Technip net cash position increased from 1,540 million to 1,704 million at year end + 67% 157 As of December 31, 2007 project milestone payments SURF amounted to…
  15. FEBRUARY 2007 RESULTS – Technip – slide 15
    4. SURF Return on Capital Employed SURF OTHERS** GROUP in millions 2005 2006 2007 2005 2006 2007 2005 2006 2007 Non Current Assets 2,709 2,701 2,763 668 698 701 3,377 3,399 3,464 Working Capital and - 528 - 601 - 1,131 - 1,769 -…
  16. FEBRUARY 2007 RESULTS – Technip – slide 16
    II. 2007 Projects and Awards 1. 2007 Projects 2. 2007 Awards and Market Trends Full Year 2007 Results 16
  17. FEBRUARY 2007 RESULTS – Technip – slide 17
    1. 2007 Projects SURF Agbami (Nigeria): pipe and umbilical manufacturing and phase 1 installation completed on schedule. Overall project progressing well Gimboa (Angola): nearly completed PDET (Brazil): completed as Deep Blue…
  18. FEBRUARY 2007 RESULTS – Technip – slide 18
    2. 2007 Awards and Market Trends 1/3 SURF Multitude of new technological contracts Largest Subsea contract with Pazflor oil field development in Angola Notable deep and ultra-deep water contracts in GoM for the following fields:…
  19. FEBRUARY 2007 RESULTS – Technip – slide 19
    2. 2007 Awards and Market Trends 2/3 Offshore Facilities Capitalizing on the successes of P-51 & P-52 in Brazil Technip/Keppel FELS consortium awarded by Petrobras P-56 semi submersible contract. Technip, in charge of topside…
  20. FEBRUARY 2007 RESULTS – Technip – slide 20
    2. 2007 Awards and Market Trends 3/3 Onshore-Downstream & Industries Commercial successes with a broad range of contractual schemes Khursaniyah (Saudi Arabia): Conversion from a cost-reimbursable to Lump Sum Turnkey contract last…
  21. FEBRUARY 2007 RESULTS – Technip – slide 21
    III. Focus on and Enhance Operational Performance 1. Improve Portfolio Quality 2. Focus the Organization on Execution and Results 3. Technips Strengths at the Beginning of 2008 Full Year 2007 Results 21
  22. FEBRUARY 2007 RESULTS – Technip – slide 22
    1.1 Improve Portfolio Quality Towards a more balanced backlog Business segments Regions Contractual schemes (to reduce share of pure EPC Lump Sum particularly in the Onshore segment) Reinforce technological content to further…
  23. FEBRUARY 2007 RESULTS – Technip – slide 23
    1.2 Towards a More Balanced Backlog: Segments Business Segment Split Market Split Industries 1% 2% 3% Onshore - Petrochems Deepwater 64% 65% 55% Downstream 6% Refining / 18% 30% Heavy Oil 5% Offshore 12% Shallow 11% 7%…
  24. FEBRUARY 2007 RESULTS – Technip – slide 24
    1.3 Towards a More Balanced Backlog: Regions Regional split end 2006 Regional split end 2007 10,273 m 9,390 m Europe / Europe / Asia Russia Asia Russia Pacific Central Asia Pacific Central Asia 12% 9% 10% 18% Americas Americas…
  25. FEBRUARY 2007 RESULTS – Technip – slide 25
    1.4 Reduce Share of Pure EPC Lump Sum in Onshore 2006 Order Intake: 2007 Order Intake: 2,914 m 3,000 m Other types of contracts 8% 3% 12% 20% 5% 2% 3% 2% 4% 1% 9% 6% Pure EPC 5% Lump Sum Pure EPC Lump Sum 6% 71% 43%…
  26. FEBRUARY 2007 RESULTS – Technip – slide 26
    1.5 Reinforce Technological Content to Further Develop Differentiation Ultra deep water Industry knows how to drill at a water depth of 3,000m, we have to engineer production systems for this depth and beyond Arctic Spar…
  27. FEBRUARY 2007 RESULTS – Technip – slide 27
    1.6 Rigorous Bidding Policy Enhanced bid authorization policy No lump sum construction exposure in Australia or North America Select projects on high quality FEED or Basic studies (full technical definition of scope of…
  28. FEBRUARY 2007 RESULTS – Technip – slide 28
    2. Focus the Organization on Execution and Results 23,000 employees at the end of 2007 (+1,000 yoy) 6 regions with full P&L responsibility A Subsea business unit responsible for global asset development and optimization 8…
  29. FEBRUARY 2007 RESULTS – Technip – slide 29
    3. Technips Strengths at the Beginning of 2008 Strategic framework focused on our core competencies: Oil & Gas Organization which is streamlined, incentivized on profitability and with clear objectives and responsibilities Capex…
  30. FEBRUARY 2007 RESULTS – Technip – slide 30
    IV. 2008 Financial Outlook Full Year 2007 Results 30
  31. FEBRUARY 2007 RESULTS – Technip – slide 31
    2008 Financial Outlook Group revenue around 8 billion 10% growth in Subsea (SURF) revenue Subsea operating margin to remain above 15.0% Onshore (Onshore-Downstream + Industries) and Offshore operating margin on average…
  32. FEBRUARY 2007 RESULTS – Technip – slide 32
    For more information, please contact: INVESTOR RELATIONS Kimberly Stewart Tel. +33 (0) 1 47 78 66 74 e-mail: kstewarttechnip.com Xavier dOuince Tel. +33 (0) 1 47 78 25 75 e-mail: xdouincetechnip.com Full Year 2007…
  33. FEBRUARY 2007 RESULTS – Technip – slide 33
    Trading Technip ISIN: FR0000131708 Full Year 2007 Results 34
  34. FEBRUARY 2007 RESULTS – Technip – slide 34
    Annexes 1. Group Backlog Estimated Scheduling 2. Group Balance Sheet 3. Cash Flow Statement 4. U.S. GAAP Net Income 5. Income from Activity Disposal 6. Fourth Quarter 2007 Accounts 7. Radar Screen Full Year 2007 Results 35
  35. FEBRUARY 2007 RESULTS – Technip – slide 35
    Annex 1: December 31, 2007 Backlog Estimated Scheduling in Millions Offshore Onshore SURF Facilities Downstream Industries Group 2008 2,100 400 3,200 150 5,850 2009 600 151 1,500 70 2,321 2010+ 777 - 437 5 1,219 Total 3,477…
  36. FEBRUARY 2007 RESULTS – Technip – slide 36
    Annex 2: Group Balance Sheet in Millions (audited) Dec. 31, 2007 Dec. 31, 2006* FIXED ASSETS 3,279.1 3,241.1 OTHER ASSETS 2,418.7 2,419.6 CASH & CASH EQUIVALENTS 2,401.5 2,402.8 TOTAL ASSETS 8,099.3 8,063.5 SHAREHOLDERS EQUITY…
  37. FEBRUARY 2007 RESULTS – Technip – slide 37
    Annex 3: Cash Flow Statement in Millions, (audited) Net Cash as of December 31, 2006 1,540 Dividend Payment - 275 Share Buyback - 86 Operating Cash Flow 192 Capex - 262 Working Capital 634 Asset Disposals 87 Capital Increases…
  38. FEBRUARY 2007 RESULTS – Technip – slide 38
    Annex 4: U.S. GAAP Net Income in Millions (audited) 4Q 2007 4Q 2006 Change IFRS Net Income - 97.5 63.0 nm Restatement IAS 32/39 & -17.8 - 10.2 - 74.5% FAS 133 and Other U.S. GAAP Net Income -115.3 52.8 nm FY 2007 FY 2006…
  39. FEBRUARY 2007 RESULTS – Technip – slide 39
    Annex 5: Income from Activities Disposal Full year operating income from recurring activities excludes the following income from activity disposal: 17.0 million for PSS sale (SURF) and 2.9 million for Gulf Island Fabricator Inc…
  40. FEBRUARY 2007 RESULTS – Technip – slide 40
    Annex 6: Fourth Quarter 2007 Accounts 1. Revenue and Operating Income 2. Business Segment Performance 3. Income Statement Full Year 2007 Results 41
  41. FEBRUARY 2007 RESULTS – Technip – slide 41
    1. 4Q 2007 Revenue and Operating Income in Millions (audited) 4Q 2007 4Q 2006 Change Revenue 2,101.2 1,982.3 + 6.0% Operating Income from - 108.0 113.8 nm Recurring Activities Op. Margin Ratio from - 5.1% 5.7% nm…
  42. FEBRUARY 2007 RESULTS – Technip – slide 42
    2. 4Q Business Segment Operating Performance in Millions (audited) SURF Offshore Onshore- Industries Facilities Downstream Revenue 647.7 172.3 1,217.2 64.0 Change +1.9% -41.5% +21.5% +27.7% Op. Income from Recurring 120.1 5.9…
  43. FEBRUARY 2007 RESULTS – Technip – slide 43
    3. 4Q Group Income Statement in Millions 4Q 07 4Q 06 Change Revenue 2,101.2 1,982.3 + 6.0% Operating Income from - 108.0 113.8 - 194.9% Recurring Activities Income from Activity Disposal - 0.8 - Operating Income - 108.8 113.8 -…
  44. FEBRUARY 2007 RESULTS – Technip – slide 44
    Annex 7: Selection of prospects to be Awarded to the Industry and Recent Awards SUBSEA OFFSHORE FACILITIES USAN (Nigeria) L USAN FPSO (Nigeria) L WHITE ROSE EXT. (Canada) L FROY (Norway) L BONGA SOUTHWEST (Nigeria) L BONGKOT 4A…
  45. FEBRUARY 2007 RESULTS – Technip – slide 45
    Improve Portfolio Quality: Illustrations 1/2 Central Europe complex Recently signed Engineering & Procurement - Lump Sum (multicurrency) License and Basic under Licensors responsibility Engineering responsibility from FEED through…
  46. FEBRUARY 2007 RESULTS – Technip – slide 46
    Improve Portfolio Quality: Illustrations 2/2 PAZFLOR subsea development offshore Angola Signed January 2008 EPCI contract: 1.86 billion Largest Surf project for Technip: 1.16 billion Very well known area and customer Contractor is…
  47. FEBRUARY 2007 RESULTS – Technip – slide 47
    2007 Results Business Outlook February 21, 2008

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