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Q2 2006 RESULTS – Technip

Technip · Jul 27, 2006 · 41 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. Q2 2006 RESULTS – Technip – slide 1
    SECOND QUARTER 2006 RESULTS JULY 27, 2006
  2. Q2 2006 RESULTS – Technip – slide 2
    Second Quarter 2006 Highlights in Millions (except EPS) Change YoY Revenues 1,589 + 19% Operating Income 84.5 + 28% Net Income 51.5 + 55% Fully Diluted EPS (in ) 0.47 + 36% Annualized ROCE (1st Half) 11.5% vs. 6.8%…
  3. Q2 2006 RESULTS – Technip – slide 3
    I. SECOND QUARTER 2006 GROUP FIGURES II. RESOURCE AND ASSET MANAGEMENT III. THE MARKET ENVIRONMENT IV. OUTLOOK Second Quarter 2006 Results July 27, 2006 3
  4. Q2 2006 RESULTS – Technip – slide 4
    I. SECOND QUARTER 2006 GROUP FIGURES 1. Revenues and Operating Income 2. Business Segment Operating Performance 3. Income Statement 4. Balance Sheet 5. Net Cash (First Half) 6. ROCE (First Half) 7. Backlog 8. Shareholder…
  5. Q2 2006 RESULTS – Technip – slide 5
    1. Revenues and Operating Income in Millions 2Q 2006 2Q 2005 Change Revenues 1,589.0 1,330.9 + 19.4% Operating Income 84.5 66.0 + 28.0% Operating Margin Ratio 5.3% 5.0% Operating income began to grow faster than…
  6. Q2 2006 RESULTS – Technip – slide 6
    2. Business Segment Operating Performance in Millions SURF Offshore Onshore- Industries Facilities Downstream Revenues 486.3 305.0 747.7 50.0 Change +2.9% +29.5% +34.0% -22.6% Op. Income 38.1 30.1 15.2 2.6 Change +1.3% +363.1%…
  7. Q2 2006 RESULTS – Technip – slide 7
    3. Income Statement in Millions 2Q 2006 2Q 2005 Change Revenues 1,589.0 1,330.9 + 19.4% Operating Income 84.5 66.0 + 28.0% Financial Charges (9.9) (16.5) Income of Equity Affiliates (0.1) 0.1 Profit Before Tax 74.5 49.6 + 50.2%…
  8. Q2 2006 RESULTS – Technip – slide 8
    4. Balance Sheet in Millions June 30, 2006 Dec. 31, 2005 FIXED ASSETS 3,253.2 3,244.5 OTHER ASSETS 1,935.8 1,864.7 CASH 2,091.1 2,187.8 TOTAL ASSETS 7,280.1 7,297.0 SHAREHOLDERS EQUITY (incl. Min. Interests) 2,340.1 1,953.7…
  9. Q2 2006 RESULTS – Technip – slide 9
    5. Net Cash (1st Half) in Millions Net Cash at December 31, 2005 668 Bond Conversion + 598 Share Repurchase - 224 Operating Cash Flow + 116 Capex - 72 Dividend Payment - 91 Working Capital + 290 Asset Sales + 33 Other -…
  10. Q2 2006 RESULTS – Technip – slide 10
    6. Net Return on Capital Employed (First Half) in Millions 1H 2006 1H 2005 Profit Before Tax & Minorities 109.4 82.8 Financial Charges 27.2 33.8 Income Tax (41.0) (38.9) Adjusted Net Income (1) 95.6 77.7 Opening Shareholders…
  11. Q2 2006 RESULTS – Technip – slide 11
    7. Backlog As of June 30, 2005: As of June 30, 2006: 8,210 M 11,383 M Petrochems Deepwater Petrochems Deepwater 15% 16% 23% 24% Refining / 12% Refining / Heavy Oil 6% Heavy Oil 20% Shallow 15% Shallow 2% Water Water Other…
  12. Q2 2006 RESULTS – Technip – slide 12
    8. Shareholder Update Current Actions Long Term Focus 2006 Dividend: increased by 11% Maintain a strong balance sheet Share Buyback Program: 4,984,474 Expand naval and industrial assets shares bought = 223.5 million returned…
  13. Q2 2006 RESULTS – Technip – slide 13
    II. RESOURCE AND ASSET MANAGEMENT 1. Human Resources 2. Capital Expenditures Second Quarter 2006 Results July 27, 2006 13
  14. Q2 2006 RESULTS – Technip – slide 14
    1.1 Human Resources Growth 22,000 21,665 21,000 +13.5% 20,000 19,094 19,000 18,000 17,000 January 1, 2005 June 30, 2006 Excluding discontinued businesses, the workforce increase amounts to 17% Second Quarter 2006…
  15. Q2 2006 RESULTS – Technip – slide 15
    1.2 Human Resources: 21,665 People Around the World Norway Norway Finland Finland 260 260 980 980 United United Kingdom Kingdom Benelux Benelux Russia Russia // Central Central Asia Asia Canada Canada 2,940 2,940 360 360…
  16. Q2 2006 RESULTS – Technip – slide 16
    2.1 Capital Expenditures in Millions 300 250 250 Development Capex 36% Fleet 200 +51% 166 150 16% +39% 119 6% 18% Plants 100 34% 35% 13% Other 8% 15% 50 43% 33% Maintenance Capex 43% 0 FY 2004 FY 2005 FY 2006e…
  17. Q2 2006 RESULTS – Technip – slide 17
    2.2 Capex: Flexible Pipe Manufacturing Capacity Expansions Expanding Group flexible pipe manufacturing capacity by roughly 30% Vitria (Brazil): + 50 % Le Trait (France): + 20 % Status: +15% already on stream Status: +10% already on…
  18. Q2 2006 RESULTS – Technip – slide 18
    2.3 Capex: 4 Additional Vessels 1 New DSV 2 New DSV (50% owned by Technip) (8-year charter) Objective Objective To support Statoil IRM contract To support UK operations in Norway Key figures Key figures 153 m x 27 m 106 m x 21 m…
  19. Q2 2006 RESULTS – Technip – slide 19
    2.4 Capex: 4 Additional Vessels 3 Purchased Vessel for conversion to DSV 4 Survey / Utility Vessel (3-year service contract) Objective Objective Reinforce Technips position in Ensure quality service in the India and the Middle East…
  20. Q2 2006 RESULTS – Technip – slide 20
    III. THE MARKET ENVIRONMENT 1. World Energy Demand 2. Supply Chain Tightness 3. Market Snapshot 4. Radar Screen Second Quarter 2006 Results July 27, 2006 20
  21. Q2 2006 RESULTS – Technip – slide 21
    1. World Energy Demand Average Million Tons Oil Equivalent 14,484 Growth p.a. 1,949 Renewables* 1.8% 10,951 778 Nuclear 0.7% 1,449 3,420 Gas 2.0% 687 2,448 58.4% 56.9% 5,036 Oil 1.7% 3,785 2,582 3,301 Coal 1.5% 2004…
  22. Q2 2006 RESULTS – Technip – slide 22
    2. Supply Chain Tightness Average Delivery Lead Times * (Weeks) 75 Large Pressure Vessels 65 Heat Exchangers Air Coolers 55 Large Transformers 45 Pumps 35 25 Q3 2004 Q2 2006 Delivery lead times for both equipment and…
  23. Q2 2006 RESULTS – Technip – slide 23
    3. Market Snapshot Accessible Market in Billion (Forward Six Months) * 24 21.0 20 1.0 Industries 17.0 16.2 16 0.6 1.3 8.6 Onshore-Downstream 12 6.6 8.6 8 7.1 Offshore Facilities 4.0 4.6 4 4.3 3.2 4.3 SURF 0 As of…
  24. Q2 2006 RESULTS – Technip – slide 24
    4. Major Awards Expected by Technip and Competition in Next 12 Months OFFSHORE SURF GAS / LNG REFINING / PETCHEM. FACILITIES TOMBUA LANDANA CCO MAADEN Phosphate TOMBUA LANDANA L XL L L (Angola) (Angola) (Venezuela) (S.Arabia) UMM…
  25. Q2 2006 RESULTS – Technip – slide 25
    IV. OUTLOOK 1. Backlog Scheduling 2. 2006 Financial Targets Second Quarter 2006 Results July 27, 2006 25
  26. Q2 2006 RESULTS – Technip – slide 26
    1. Backlog: Estimated Scheduling (at June 30, 2006) in Millions Offshore Onshore SURF Facilities Downstream Industries Group H2 2006 1,178 485 1,900 96 3,659 2007 906 256 3,300 49 4,511 2008 and Beyond 360 93 2,741 19…
  27. Q2 2006 RESULTS – Technip – slide 27
    2. Full Year 2006 Financial Targets 2006 Targets * 2005 Actuals Y-o-Y Change Revenues + 26% 6.8 billion 5.4 billion Operating + 47% 340 million 231 million Income *2006 targets assume average 2006 euro/dollar of 1.25…
  28. Q2 2006 RESULTS – Technip – slide 28
    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 Second Quarter…
  29. Q2 2006 RESULTS – Technip – slide 29
    Trading Technip ISIN FR0000131708 Second Quarter 2006 Results July 27, 2006 29
  30. Q2 2006 RESULTS – Technip – slide 30
    IV. ANNEXES 1. U.S. GAAP Net Income 2. First Half 2006 Accounts 3. Focus on Backlog 4. Technip Fleet Second Quarter 2006 Results July 27, 2006 31
  31. Q2 2006 RESULTS – Technip – slide 31
    ANNEX 1: U.S. GAAP NET INCOME Second Quarter 2006 Results July 27, 2006 32
  32. Q2 2006 RESULTS – Technip – slide 32
    U.S. GAAP Net Income in Millions Q2 2006 H1 2006 IFRS Net Income 51.5 76.8 Difference IAS 32/39 & FAS 133 and Other 13.6 4.4 U.S. GAAP Net Income 65.1 81.2 Second Quarter 2006 Results July 27, 2006 33
  33. Q2 2006 RESULTS – Technip – slide 33
    ANNEX 2: FIRST HALF 2006 ACCOUNTS 1. Revenues and Operating Income 2. Business Segment Performance 3. Income Statement Second Quarter 2006 Results July 27, 2006 34
  34. Q2 2006 RESULTS – Technip – slide 34
    1. Revenues and Operating Income in Millions 1H 2006 1H 2005 Change Revenues 3,163.4 2,532.2 + 24.9% Operating Income 138.5 116.4 + 19.0% Operating Margin Ratio 4.4% 4.6% Revenue growing faster than operating…
  35. Q2 2006 RESULTS – Technip – slide 35
    2. Business Segment Operating Performance in Millions SURF Offshore Onshore- Industries Facilities Downstream Revenues 979.7 598.0 1,486.8 98.9 Change +12.1% +44.0% +33.8% -25.1% Op. Income 78.1 41.5 16.4 5.1 Change +13.8%…
  36. Q2 2006 RESULTS – Technip – slide 36
    3. Group Income Statement in Millions 1H 2006 1H 2005 Change Revenues 3,163.4 2,532.2 + 24.9% Operating Income 138.5 116.4 + 19.0% Financial Charges (27.2) (33.8) Income of Equity Affiliates 0.3 (0.1) Profit Before Tax 111.6…
  37. Q2 2006 RESULTS – Technip – slide 37
    ANNEX 3: BACKLOG 1. Regional Split 2. Scheduling Second Quarter 2006 Results July 27, 2006 38
  38. Q2 2006 RESULTS – Technip – slide 38
    1. Backlog: Regional Split As of June 30, 2005: As of June 30, 2006: 8,210 M 11,383 M Asia Europe Asia Pacific Central Asia Europe Pacific Central Asia 10% 6% 13% 12% Americas 15% Americas 22% 33% Middle 15% 54% Middle…
  39. Q2 2006 RESULTS – Technip – slide 39
    2.1 Main Contract Execution Schedule: SURF & Offshore Facilities 2006 2007 2008 SHAH DENIZ (100%) - 300 DALIA SURF (100%) - 580 Deep & Shallow Water Contracts 100 Mn: Contract Name (Groups Share in %) Initial Value of DALIA FPSO…
  40. Q2 2006 RESULTS – Technip – slide 40
    2.2 Main Contract Execution Schedule: Onshore Downstream 2006 2007 2008 Onshore Downstream Contracts 100 Mn: NEB (66%) - 373 Contract Name (Groups Share in %) Initial Value of Groups Share in Millions * NIGERIA LNG 6 (25%) -…
  41. Q2 2006 RESULTS – Technip – slide 41
    The Technip Fleet 2008 Deep Blue Deep Pioneer DSV for Statoil, Sunrise 2000 Venturer Constructor 206.5 m 158.6 m in Norway 132 m 129.1 m 126.3 m 153 m New 2008 Oceanic Princess Apache Orelia Wellservicer DSV for UK Normand…

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