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Q3 2003 RESULTS – Technip

Technip · Sep 30, 2003 · 39 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 2003 RESULTS – Technip – slide 1
    SEPTEMBER 30, 2003 RESULTS 1
  2. Q3 2003 RESULTS – Technip – slide 2
    I. TECHNIP AT SEPT 30, 2003 II. OPERATIONS AND TARGETS III. OUTLOOK 2
  3. Q3 2003 RESULTS – Technip – slide 3
    I. TECHNIP AT SEPT 30, 2003 1. PROGRESS ON COMPANYS COMMITMENTS 2. MAIN NUMBERS 3. OFFSHORE ACTIVITIES 4. ONSHORE ACTIVITIES 5. CASH FLOW 6. BALANCE SHEET 3
  4. Q3 2003 RESULTS – Technip – slide 4
    PROGRESS ON COMPANYS COMMITMENTS New corporate structure with a majority Corporate of independent Directors on the Board Governance and updated by-laws for the Board Committees (July 2003) Ethics Technip joined the UN Global…
  5. Q3 2003 RESULTS – Technip – slide 5
    MAIN NUMBERS In million Sept 30 2003 Sept 30 2002 (except EPS & E/ADS) (9 months) (9 months) % Change Order Intake 5,662 4,438 +28% Backlog (Sept. 30) 7,526 6,063 +24% Revenues 3,420 3,307 +3% EBITA 169.4 146.7 +15% margin 5.0% 4.4%…
  6. Q3 2003 RESULTS – Technip – slide 6
    9 MONTHS 2003: OFFSHORE ACTIVITIES (compared to 9 months 2002) in million SURF + Facilities = Offshore activities Order Intake 2,008 +79% 1,140 +404% 3,148 +134% Backlog 2,117 +65% 1,023 +59% 3,140 +63% Revenues 943 -4% 649 +6%…
  7. Q3 2003 RESULTS – Technip – slide 7
    9 MONTHS 2003: ONSHORE ACTIVITIES (compared to 9 months 2002) Onshore and in million Downstream + Industries = Onshore activities Order Intake 2,286 -17% 228 -29% 2,514 -19% Backlog 4,081 +6% 305 +6% 4,386 +6% Revenues 1,544…
  8. Q3 2003 RESULTS – Technip – slide 8
    9 MONTH CASH FLOW STATEMENT (m) SOURCES USES Operating Cash Flow 179 Capital Expenditures 91 Asset Disposals 13 Change in Working 72 Capital Aker Deepwater Div. 31 Gross Debt Reduction 5 Price Reduction Dividend 77 Cash 44…
  9. Q3 2003 RESULTS – Technip – slide 9
    BALANCE SHEET Sept. 30, June 30, Dec. 31, in million 2003 2003 2002 1. Cash 697 634 741 2. Other Current Assets 1,657 1,492 1,370 3. Contracts in Progress 6,233 5,359 4,977 4. Fixed Assets 3,284 3,289 3,518 5. Total Assets 11,871…
  10. Q3 2003 RESULTS – Technip – slide 10
    II. OPERATIONS AND TARGETS 1. Financial Structure 2. Contract Execution 3. Currency Fluctuations 4. Return on Capital 10
  11. Q3 2003 RESULTS – Technip – slide 11
    FINANCIAL STRUCTURE: REDUCING THE GEARING RATIO Gearing Ratio Net Debt (excluding the convertible bond redemption premium) to Equity 50% Disposal of non-core fixed 44% assets ( 250 million 40% 40% since January 2002) 28% 30%…
  12. Q3 2003 RESULTS – Technip – slide 12
    CONTRACT EXECUTION: TAKING ADVANTAGE OF OUR GLOBAL NETWORK OF ENGINEERING CENTERS (1/2) Aberdeen Rome + Oslo MAIN /NOK 2,050 Amsterdam CENTERS 1,925 + Dusseldorf people people North Sea, Canada, 715 Houston SE Europe, Africa,…
  13. Q3 2003 RESULTS – Technip – slide 13
    CONTRACT EXECUTION: TAKING ADVANTAGE OF OUR GLOBAL NETWORK OF ENGINEERING CENTERS (2/2) Aberdeen MAIN Rome + Oslo Amsterdam CENTERS + Dusseldorf Houston MODERATE COST Kuala- ENGINEERING PARIS Lumpur CENTERS Rio Bogota…
  14. Q3 2003 RESULTS – Technip – slide 14
    CURRENCY FLUCTUATIONS: MINIMIZING THE IMPACT ON EARNINGS AND LONGER TERM, ON OUR COMPETITIVENESS Euroland USA Rest of world Workforce 36% 19% 45% Fixed assets 57% 12% 31% Other (procurement and A Specific Mix for Each Contracts,…
  15. Q3 2003 RESULTS – Technip – slide 15
    RETURN ON CAPITAL: DEVELOP A LESS CAPITAL-INTENSIVE GROWTH Former Former Technip- PP&E / Revenue Coflexip Technip Coflexip Technip at the end of each period 2001 2001 2002 09/30/03 A) PP&E 689 165 861 738 B) Revenue 1,899 3,051…
  16. Q3 2003 RESULTS – Technip – slide 16
    III. OUTLOOK 1. Starting Point: The Backlog 2. The Short Term View 3. The Longer Term Perspective 16
  17. Q3 2003 RESULTS – Technip – slide 17
    STARTING POINT: THE BACKLOG 7,526 Backlog evolution in million 3,140 +30% 5,776 Offshore 4,926 1,761 4,770 1,360 1,887 Coflexip 4,081 3,625 3,410 Onshore/ 3,039 Downstream Technip 390 305 Industries 12-31-2000…
  18. Q3 2003 RESULTS – Technip – slide 18
    OUTLOOK: OUR MARKETS NEXT YEAR (in bn) 30 Onshore / 20 Downstream + Industries Offshore 10 0 2003 2004 Source: company databank 2004: market should remain buoyant with a limited slowdown of new contract awards…
  19. Q3 2003 RESULTS – Technip – slide 19
    OUTLOOK: THE LONGER TERM PERSPECTIVE Average capital spending per (in bn) year in oil & gas E&P projects 180 160 A growing share of Capex 140 will go to non-conventional 120 resources: 100 deep and ultra deep 80 offshore…
  20. Q3 2003 RESULTS – Technip – slide 20
    For more information, please contact: INVESTOR RELATIONS G. Christopher Welton Tel. +33 (0) 1 47 48 66 74 e-mail: cweltontechnip.com David-Alexandre Guez Tel. +33 (0) 1 47 78 27 85 e-mail: dagueztechnip.com ISIN FR0000131708…
  21. Q3 2003 RESULTS – Technip – slide 21
    ANNEX 22
  22. Q3 2003 RESULTS – Technip – slide 22
    Q3 ACCOUNTS 23
  23. Q3 2003 RESULTS – Technip – slide 23
    QUARTERLY MAIN NUMBERS In million Q3 2003 Q3 2002 % Change Order Intake 1,484 1,526 (3%) Backlog (sept. 30) 7,526 6,063 +24% Revenues 1,257 1,135 +11% EBITA 72.7 58.8 +24% Net Income before 31.6 37.1 (15%) Goodwill Net…
  24. Q3 2003 RESULTS – Technip – slide 24
    OFFSHORE ACTIVITIES (compared to Q3 2002) Q3 2003 (in million) SURF + Facilities = Offshore activities Order Intake 580 +22% 111 +113% 691 +31% Backlog 2,117 +65% 1,023 +59% 3,140 +63% Revenues 372 +9% 230 +13% 602 +10% EBITA…
  25. Q3 2003 RESULTS – Technip – slide 25
    OFFSHORE ACTIVITIES : FIRST HALF 2003 RESTATEMENT Due to a change in the allocation method of corporate overheads within the offshore branch, SURF and Facilities EBITA have been restated as follows. H1 published adjustment H1…
  26. Q3 2003 RESULTS – Technip – slide 26
    ONSHORE ACTIVITIES (compared to Q3 2002) Q3 2003 Onshore and (in million) Downstream + Industries = Onshore activities Order Intake 681 -28% 112 +120% 793 -20% Backlog 4,081 +6% 305 +6% 4,386 +6% Revenues 562 +7% 93 +43% 655…
  27. Q3 2003 RESULTS – Technip – slide 27
    Q3 CASH FLOW STATEMENT (m) SOURCES USES Operating Cash Flow 68 Capital Expenditures 31 Gross Debt Reduction 71 Change in Working 101 Capital FETA and Others 4 Cash 63 TOTAL 169 TOTAL 169 28
  28. Q3 2003 RESULTS – Technip – slide 28
    SIGNIFICANT CONTRACTS AWARDED SO FAR IN 2003 29
  29. Q3 2003 RESULTS – Technip – slide 29
    DALIA Floating platform (FPSO) + subsea development (Surf) for the Dalia deep water oil field (1200 to 1500 m) Client: TOTAL Angola EPIC contracts:780 MUSD ANGOLA (Technips portion) DALIA DALIA Delivery: 2006 IPB Use of…
  30. Q3 2003 RESULTS – Technip – slide 30
    GTL QATAR Gas-To-Liquids (GTL) complex at Ras Laffan Client: ORYX GTL Ltd (Qatar QATAR Petroleum / Sasol) GTL GTL QATAR QATAR Turnkey contract: 675 MUSD Delivery: Q4 2005 The worlds biggest GTL project (34,000 bl/day)…
  31. Q3 2003 RESULTS – Technip – slide 31
    SIMIAN / SAPPHIRE Subsea development (Surf) of deep sea gas fields (700 - 1000 m) Client: Burullus Gas (EGAS / British Gas / Petronas) EPIC contract: 550 MUSD SIMIAN SIMIAN // SAPPHIRE SAPPHIRE Delivery: 2005 EGYPT The…
  32. Q3 2003 RESULTS – Technip – slide 32
    EAST AREA Fixed gas compression platform Client: EXXON MOBIL NIGERIA EPIC contract: 460 MUSD EAST EAST AREA AREA Delivery: 2006 Float-over installation using Technips Unideck laying system 33
  33. Q3 2003 RESULTS – Technip – slide 33
    NEB Development of onshore and shallow water offshore oil fields North East of Abu Dhabi Client: ADCO NEB NEB Turnkey contract: 375 MUSD ABU DHABI (Technips portion) Delivery: 2005 34
  34. Q3 2003 RESULTS – Technip – slide 34
    CORINTH REFINERY Extension of the Corinth refinery Client: Motor Oil Hellas GREECE Contract: 300 MUSD Delivery: March 2005 CORINTH CORINTH REFINERY REFINERY Project linked to 2005 European specifications for petroleum…
  35. Q3 2003 RESULTS – Technip – slide 35
    SHAH DENIZ TPG 500 gas drilling and production platform in the Azerbaijan sector of the Caspian Sea (105 m) CASPIAN SEA Client: BP and partners SHAH SHAH DENIZ DENIZ EPIC contract of 300 MUSD Delivery: 2006 TPG 500 is a…
  36. Q3 2003 RESULTS – Technip – slide 36
    HDT RIYADH Diesel hydrotreating plant for the Riyadh refinery Client: Saudi Aramco HDT HDT RIYADH RIYADH Turnkey contract SAUDI ARABIA Delivery: 2006 The continuing success story with Aramco 37
  37. Q3 2003 RESULTS – Technip – slide 37
    BAOBAB Development of a deepwater field (Surf) (900 - 1300 m) Client: CNR International IVORY COAST Contract: 125 MUSD BAOBAB BAOBAB Delivery: 4Q 2004 and 1Q 2005 A new customer (CNR) with significant potential for new…
  38. Q3 2003 RESULTS – Technip – slide 38
    GUAMAR (BRAZIL) Onshore gas treatment plant Customer: Petrobras Contract: 85 MUSD GAS GAS TREATMENT TREATMENT Delivery: Q1 2005 BRAZIL First outcome of the synergies between the Groups units in Brazil 39
  39. Q3 2003 RESULTS – Technip – slide 39
    LNG TERMINAL, U.S.A. LNG terminal (reception / regasification) at Freeport, Texas Client: Freeport LNG Development U.S.A. Front end engineering design (FEED) prior to EPC contract LNG LNG TERMINAL TERMINAL FREEPORT FEED…

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