Skip to main content 2004 RESULTS BUSINESS OUTLOOK – Technip Investor Presentation | Shale Experts
Loading...
Pm

2004 RESULTS BUSINESS OUTLOOK – Technip

Technip · Feb 24, 2005 · 57 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. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 1
    2004 RESULTS BUSINESS OUTLOOK February 24, 2005
  2. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 2
    I. 2004: A YEAR OF SUCCESS II. MAIN FIGURES III. MARKET TRENDS & STRATEGY IV. 2005 TARGETS Full Year 2004 Results (French GAAP) 2
  3. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 3
    I. 2004: A YEAR OF SUCCESS 1. COMMERCIAL BREAKTHROUGHS 2. RESILIENCE TO ADVERSE MARKET CONDITIONS 3. STRONG CASH GENERATION 4. FURTHER ADAPTATION OF OUR ASSETS TO OUR BUSINESS NEEDS 5. ENHANCING SHAREHOLDER VALUE Full Year…
  4. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 4
    I - COMMERCIAL BREAKTHROUGHS IN STRATEGIC BUSINESS SEGMENTS DEEP OFFSHORE DEVELOPMENTS Greater Plutonio (Angola) SPAR Constitution (USA) Semi-Submersible P-51 (Brazil) SPAR Kikeh (Malaysia) LNG Qatargas II: Onshore + Offshore…
  5. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 5
    II - RESILIENCE TO ADVERSE MARKET CONDITIONS ADVERSE MARKET CONDITIONS TECHNIPS RESILIENCE Currency fluctuations: 2004 / 2003 down 10%, impacting both Actual Targets 2004 revenues and earnings by about 3% Revenues + 9.1% + 9%…
  6. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 6
    III - STRONG CASH GENERATION is up 32% compared to 2003 Free cash flow exceeds 54% of operating cash flow slashed by 85% over last 3 years Net debt* reduced to 7% of equity Debt raised for the 2001 acquisitions is now…
  7. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 7
    IV - FURTHER ADAPTATION OF OUR ASSETS TO OUR BUSINESS NEEDS DISPOSALS INVESTMENTS Several non-strategic assets (2003 Deep Pioneer, a construction combined revenues = 221 mn): vessel under lease, purchased for 28 mn EHR (piping,…
  8. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 8
    V - ENHANCING SHAREHOLDER VALUE January 1 December 31, 2004 Stock and convertible bond buybacks more than offset +73% dilution created by employees +59% shareholding program and stock option exercises With a proposed dividend of…
  9. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 9
    II. MAIN FIGURES 1. OFFSHORE ACTIVITIES 2. ONSHORE ACTIVITIES 3. INCOME STATEMENT 4. CASH FLOW STATEMENT 5. BALANCE SHEET 6. RETURN ON EQUITY 7. BACKLOG Full Year 2004 Results (French GAAP) 9
  10. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 10
    2004 OFFSHORE ACTIVITIES in Millions SURF + Facilities = Offshore Activities Backlog 1,860 +1% 944 -11% 2,804 -3% Revenues 1,421 +8% 1,066 +19% 2,487 +13% EBITA 146.2 +51% 18.8 nc 165.0 +16% EBITA Margin 10.3% 1.8% 6.6% % =…
  11. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 11
    2004 ONSHORE ACTIVITIES Onshore- in Millions Downstream + Industries = Onshore Activities Backlog 3,758 -4% 217 nc 3,975 -7% Revenues 2,385 +13% 269 nc 2,654 +6% EBITA 96.7 +12% (3.2) nc 93.5 +10% EBITA Margin 4.1% -1.2%…
  12. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 12
    GROUP INCOME STATEMENT in Millions 2004 2003 Change Revenues 5,141.0 4,711.1 9.1% EBITA 258.5 227.6 13.6% EBITA Margin 5.0% 4.8% Financial Charges (54.0) (44.3) 21.9% Non-Operating Items (16.1) (7.6) 111.8% Profit Before Tax 188.4…
  13. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 13
    2004 CASH FLOW STATEMENT in Millions SOURCES USES Operating Cash Flow 260 Capex 119 Working Capital 108 2004 Dividend 82 2005 Dividend 48 (down-payment) FETA and Other 11 Capital Increase 26 Share Repurchases 23 Debt 431…
  14. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 14
    BALANCE SHEET Dec. 31, Dec. 31, in Millions 2004 2003 1. Cash 1,434 892 2. Other Current Assets 1,549 1,428 3. Work in Progress 6,692 6,442 4. Fixed Assets 3,098 3,246 5. Total Assets 12,773 12,008 6. Premium for Redemption of…
  15. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 15
    RETURN ON EQUITY in Millions 2004 2003 Net Income 4.7 (19.7) Tax Charges 65.2 82.0 Goodwill Amortization 117.3 113.7 Minority Interests + Exceptional Items 18.5 8.4 Adjusted Pre-tax Earnings 205.7 184.4 Shareholders Equity (inc.…
  16. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 16
    BACKLOG in Millions 6,828(1) 6,779 Industries 5,776 4,926 Onshore- Downstream Offshore 12-31-01 12-31-02 12-31-03 12-31-04 In months of 11.9 15.6 17.4 15.8 revenues Year-end backlog remains close to historical…
  17. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 17
    III. MARKET TRENDS AND STRATEGY 1. THE BROAD PICTURE 2. DEEPWATER DEVELOPMENTS 3. GAS TO MARKETS 4. EXTRA HEAVY OILS 5. REFINING, HYDROGEN, PETROCHEMS 6. INDUSTRIES Full Year 2004 Results (French GAAP) 17
  18. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 18
    I - THE BROAD PICTURE (2002 - 2030) FORECASTED OIL AND GAS PRODUCTION AND CAPEX Production Capex of 2002 2030 (2002 2030) which E&P Oil (mb/d) 77 +57% 121 3 trillion (111 bn/y) 70% Gas (bcm) 2,622 +87% 4,900 2.7 trillion (100 bn/y)…
  19. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 19
    THE BROAD PICTURE (2002 2030) Capex in excess of 210 bn per year z 134 bn in Oil and Gas E&P, with a growing share in deepwater z 77 bn in transportation, refining, processing (incl. gas liquefaction and GTL), petrochemicals…
  20. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 20
    THE BROAD PICTURE: WORLD OIL PRODUCTION BY SOURCE mb/d 125 Development of Forecast Demand new discoveries 100 Non-conventional Existing Demand oil 75 Enhanced oil recovery 50 Existing Production Development of 25 existing…
  21. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 21
    THE BROAD PICTURE (2002 - 2030): OIL AND GAS DEMAND BY REGIONS 2002 2030 77 mb/d 121 mb/d 73% of the 2002 - 2030 growth expected from RoW OECD RoW OECD Oil 53 % 47 % countries outside of North 41 % 59 % America and the European…
  22. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 22
    THE BROAD PICTURE: WHERE THE ACTION IS TAKING PLACE Oil Frontier Areas: Siberia, Caspian N. Sea Sea Athabasca China: Exploding Middle-East: Demand for Oil, Gas Refining and Petrochems, Petrochems GOM LNG, GTL Deep Offshore…
  23. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 23
    II - DEEPWATER DEVELOPMENTS: THE MARKET DEEPWATER OIL PRODUCTION ANNUAL DEEPWATER CAPEX mb/d 7 8.0 bn Others 6 2004: 3.0 mb/d 2010: 6.5 mb/d +67% 5 Floaters 4.8 bn 4 Africa S.E. Asia 3 Gulf of 2 Mexico SURF 1 Brazil 0…
  24. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 24
    DEEPWATER DEVELOPMENTS: TECHNIP MARKET POSITION TECHNIPS DEEPWATER BUSINESS Market leader in SURF: 23% of 2004 Group revenues 35% historical market share 20% of 2004 Group order intake Growing position in floaters: 10% market share…
  25. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 25
    III - GAS TO MARKET: TRENDS NET GAS IMPORTS FORECAST LNG AND GTL PRODUCTION (in bcm) 680 2.4 LNG GTL (in bcm) (in mb/d) Europe 162 267 525 Japan/Korea 98 130 183 N. America 0 33 97 250 China 0 9 42 150 0.4 India 0 10 44…
  26. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 26
    GAS TO MARKET: TECHNIP MARKET POSITION TECHNIPS LNG / GTL BUSINESS 25% partner in Nigeria LNG 7% of 2004 Group revenues trains 50% partner in QATARGAS 32% of 2004 Group order intake revamping Currently building the first large 29%…
  27. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 27
    IV - EXTRA HEAVY OILS: THE MARKET NON-CONVENTIONAL CANADIAN TAR SANDS OIL RESOURCES 40 OIL PRODUCTION COST 7 trillion barrels / bl 3030 Mining RoW Canada 2020 44 % 36 % 1010 In situ Venezuela 19 % 00 1985 1995 2003…
  28. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 28
    EXTRA HEAVY OILS: TECHNIP TECHNIPS EXTRA MARKET POSITION HEAVY OILS BUSINESS Venezuela (Orinoco Belt): 2004 Group revenues: nil 30% interest in 2 major upgraders (1997 to 2001) 2005 Group order intake: z Sincor 700 mn (to-date) z…
  29. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 29
    V - REFINING, HYDROGEN, PETROCHEMICALS: THE MARKETS DEVELOPED COUNTRIES: DEVELOPING COUNTRIES: CLEANER FUELS GRASS ROOT CAPACITIES Ex: Hydrogen Market in N. America Ex: Ethylene Capacity Growth Bn SCFD MT 8 40 N. America 7 35 6 30 W.…
  30. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 30
    V - REFINING, HYDROGEN, PETROCHEM: TECHNIP TECHNIPS REFINING, HYDROGEN, MARKET POSITION PETROCHEMICALS BUSINESS Leader in hydrogen plants: 31% of 2004 Group revenues z 40% market share worldwide, z 70% market share in the USA 12%…
  31. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 31
    VI - INDUSTRIES: THE MARKETS ENGINEERING AND CONSTRUCTION MARKET TRENDS GLOBAL MARKET (372 BN) LIFESCIENCES: Secular expansion in line with demographics / healthcare requirements Oil & Gas CHEMICALS: Buildings 21% New ethanol…
  32. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 32
    INDUSTRIES: TECHNIP WHERE DO WE STAND TODAY WHY DO WE WANT TO GROW The restructuring process is To strengthen our position on high- behind us growth markets, including: z Metals & Mining Normalized margins: 4 6% z Power and…
  33. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 33
    MAJOR AWARDS EXPECTED BY TECHNIP AND COMPETITION IN NEXT 12 MONTHS OFFSHORE GAS/LNG REF./PETROCHEM. P-52 SURF (Brazil) L HAWIYAH ISBL ETHYLENE DOW/PIC (S. Arabia) L (Kuwait) L AKPO SURF (Nigeria) XL HAWIYAH OSBL ETHYLENE SABIC L…
  34. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 34
    V. 2005 TARGETS Full Year 2004 Results (French GAAP) 34
  35. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 35
    2005 TARGETS Revenues Euro 4.8 to 4.9 billion Operating Margin Ratio 5.0% Net Income Euro138 Million Pre-GW/Except. Based on 1=1.35, current scope of consolidation and French GAAP Full Year 2004 Results (French GAAP) 35
  36. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 36
    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 Full Year 2004 Results…
  37. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 37
    TRADING TECHNIP ISIN FR0000131708 Full Year 2004 Results (French GAAP) 37
  38. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 38
    IV. ANNEXES 1. US GAAP NET INCOME 2. 4th QUARTER 2004 ACCOUNTS 3. ESTIMATED BACKLOG SCHEDULING 4. RECENT CONTRACT AWARDS Full Year 2004 Results (French GAAP) 39
  39. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 39
    ANNEX 1 US GAAP NET INCOME Full Year 2004 Results (French GAAP) 40
  40. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 40
    U.S. GAAP NET INCOME Not Audited in Millions 2004 2003 French GAAP Net Income 4.7 (19.7) Goodwill Amortization 117.3 113.7 Foreign Exchange and Other (55.4) (24.4) U.S. GAAP Net Income 66.6 69.6 Full Year 2004 Results…
  41. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 41
    ANNEX 2: QUARTERLY DATA 1. MAIN NUMBERS 2. OFFSHORE ACTIVITIES 3. ONSHORE ACTIVITIES 4. INCOME STATEMENT 5. CASH FLOW STATEMENT Full Year 2004 Results (French GAAP) 42
  42. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 42
    Q4 2004 MAIN FIGURES in Millions Net Income Order Intake Revenues EBITA (before Goodwill & Non-Op.) +158 % +1.9 % +7.2 % +14.2 % 2,377 1,317 1,291 62.4 920 58.2 31.4 27.5 Q4 03 Q4 04 Q4 03 Q4 04 Q4 03 Q4 04 Q4 03 Q4…
  43. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 43
    Q4 2004 OFFSHORE ACTIVITIES in Millions SURF + Facilities = Offshore Activities Backlog 1,860 +1% 944 -11% 2,804 -3% Revenues 348 -6% 287 +17% 635 +3% EBITA 38.4 +16% 4.5 nm 42.9 +32% EBITA Margin 11.0% 1.6% 6.8% % = y-o-y…
  44. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 44
    Q4 2004 ONSHORE ACTIVITIES Onshore- in Millions Downstream + Industries = Onshore Activities Backlog 3,758 -4% 217 nc 3,975 -7% Revenues 604 +5% 78 nc 681 +1% EBITA 21.3 -33% (1.8) nm 19.5 -24% EBITA Margin 3.5% -2.3% 2.9%…
  45. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 45
    QUARTERLY INCOME STATEMENT Not Audited in Millions Q4 2004 Q4 2003 Change Revenues 1,316.5 1,291.4 1.9% EBITA 62.4 58.2 7.2% EBITA Margin 4.7% 4.5% Financial Charges (17.5) (7.5) 133.3% Non-Operating Items (3.9) (1.8) 116.7% Profit…
  46. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 46
    Q4 2004 CASH FLOW STATEMENT in Millions SOURCES USES Working Capital 124 Capex 69 Operating Cash Flow 89 2005 Dividend 48 (Down-payment) FETA and Other 17 Capital Increase 2 Share Repurchases 1 Cash 80 Total 215 Total…
  47. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 47
    ANNEX 3 FOCUS ON BACKLOG Full Year 2004 Results (French GAAP) 48
  48. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 48
    BACKLOG: REGIONAL SPLIT As of Dec. 31, 2003 As of Dec. 31, 2004 Europe/ Europe/ Asia / Pacific Asia / Pacific Central Central 7% 21% Asia 7% Asia Americas 14% Americas 16% 16% 26% Africa Africa 30% 28% 35% Middle Middle…
  49. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 49
    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 Groups Share in millions SIMIAN…
  50. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 50
    MAIN ONSHORE/DOWNSTREAM CONTRACT EXECUTION SCHEDULE 2005 2006 2007 TAKREER (100%) - 480 Onshore/Downstream Contracts 100 Mn: Contract Name (Groups Share in %) Initial Value of MOH (100%) - 300 Groups Share in millions OMIFCO (50%) -…
  51. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 51
    BACKLOG: ESTIMATED SCHEDULING in Millions Offshore Onshore- Industries Total Downstream 2005 1,950 1,500 180 3,630 2006 800 1,500 30 2,330 2007 and Beyond 54 758 7 819 Total 2,804 3,758 217 6,779 Full Year 2004 Results…
  52. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 52
    ANNEX 4 RECENT CONTRACT AWARDS Full Year 2004 Results (French GAAP) 53
  53. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 53
    QATARGAS II: THE INCREASING CAPACITY OF LNG TRAINS Train Capacity (MTA) Qatargas II 8 Trinidad Train 4 6 Egypt Rasgas Train 3 4 Rasgas Trains 1 & 2 2 0 1964 1972 1978 1982 1989 1997 1999 2003 2005 2006 2007…
  54. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 54
    QATARGAS II: THE PROJECT Project located at Ras Laffan, Qatar Client: Qatargas II (70% Qatar Petroleum, 30% ExxonMobil) Contract value for LNG facility: USD 4 billion for both trains Execution: Joint venture Technip / Chiyoda…
  55. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 55
    FREEPORT LNG QUINTINA RECEIVING TERMINAL Project located at Quintina island Freeport, Texas Client: Freeport LNG Development L.P. Execution: Joint venture Technip / Zachry / Technigas Storage capacity of 7 BCF of LNG Gas production…
  56. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 56
    HORIZON OIL SANDS: EXTRA HEAVY OIL UPGRADING Projects in Athabasca, Northern Alberta, Canada Client: Canadian Natural Resources Ltd. Bitumen sands diluents recovery unit (145,000 bpsd) and coking unit (123,000 bpsd) The worlds…
  57. 2004 RESULTS BUSINESS OUTLOOK – Technip – slide 57
    KIKEH SPAR: DEEP OFFSHORE DEVELOMENT IN MALAYSIA Project Deep Offshore Sabah, Malaysia Client: Murphy Oil Corp. Water depth: 1,330 m SPAR including: z Topside facilities z Hull Length: 142 m Diameter: 32 m z Mooring system First…

From the store

Browse maps, data & reports in the Shale Experts store