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Q1 2005 RESULTS – Technip

Technip · May 19, 2005 · 33 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.

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  1. Q1 2005 RESULTS – Technip – slide 1
    FIRST QUARTER 2005 RESULTS MAY 19, 2005
  2. Q1 2005 RESULTS – Technip – slide 2
    Q1 2005 HIGHLIGHTS Earnings per share up 33% y-o-y Full year guidance unchanged and translated into IFRS Strong growth in order intake Market dynamics and order intake should lead to sustained growth for Technip in 2006 &…
  3. Q1 2005 RESULTS – Technip – slide 3
    I. FIRST QUARTER 2005 MAIN FIGURES II. 2005 TARGETS UNDER IFRS First Quarter 2005 Results 3
  4. Q1 2005 RESULTS – Technip – slide 4
    I. FIRST QUARTER 2005 MAIN FIGURES 1. MAIN FIGURES 2. BUSINESS ACTIVITY PERFORMANCE 3. INCOME STATEMENT 4. CASH FLOW STATEMENT 5. NET FINANCIAL DEBT 6. ORDER INTAKE 7. BACKLOG First Quarter 2005 Results 4
  5. Q1 2005 RESULTS – Technip – slide 5
    Q1 2005 MAIN FIGURES (IFRS) in Millions Order Intake Revenues Operating Income Earnings per Share () +111.9 % -3.8 % +16.4 % +32.9 % 1,856 1,249 1,201 50.4 876 43.3 1.01 0.76 Q1 04 Q1 05 Q1 04 Q1 05 Q1 04 Q1 05 Q1 04…
  6. Q1 2005 RESULTS – Technip – slide 6
    BUSINESS ACTIVITY PERFORMANCE IFRS Onshore- in Millions SURF Facilities Industries Downstream Backlog 1,878.1 +1% 976.2 +3% 4,138.8 +10% 190.9 -12% Revenues 400.8 +13% 179.8 -31% 553.3 -3% 67.4 +11% Op. Income 31.0 +7% 3.6 nm…
  7. Q1 2005 RESULTS – Technip – slide 7
    QUARTERLY GROUP INCOME STATEMENT* IFRS in Millions Q1 2005 Q1 2004 Change Revenues 1,201.3 1,248.9 -3.8% Gross Margin 134.8 126.4 +6.6% R&D and royalties (6.9) (6.9) 0,0% SG&A and other costs (77.5) (76.2) +1.7% Operating Income 50.4…
  8. Q1 2005 RESULTS – Technip – slide 8
    Q1 2005 CASH FLOW STATEMENT IFRS in Millions SOURCES USES Operating Cash Flow 62 Working Capital 75 FETA and Other 18 Capex 17 Capital Increase 2 Cash 25 Debt 15 TOTAL 107 TOTAL 107 First Quarter 2005 Results 8
  9. Q1 2005 RESULTS – Technip – slide 9
    NET FINANCIAL DEBT IFRS in Millions 167 Net Debt -9.6% 151 12-31-2004 03-31-2005 Gearing 9.0% 7.8% Net debt and gearing levels enhance commercial competitive position First Quarter 2005 Results 9
  10. Q1 2005 RESULTS – Technip – slide 10
    Q1 ORDER INTAKE IFRS in Millions 1,856 2.1% Industries +112% 60.5% Onshore- Downstream 876 4.9% 26.0% 13.0% Facilities 25.9% 43.2% 24.4% SURF Q1 2004 Q1 2005 A significant increase in order intake especially in…
  11. Q1 2005 RESULTS – Technip – slide 11
    BACKLOG IFRS in Millions 7,184 +11.4% Industries 2.7% 6,451 6,090 +5.9% +9.6% 4.8% Onshore- 5,555 5.8% 57.6% Downstream 5.0% 52.2% 67.8% 55.4% 14.7% 13.6% Facilities 16.7% 8.0% 28.3% 26.1% SURF 22.9% 18.4% 03-31-02…
  12. Q1 2005 RESULTS – Technip – slide 12
    BACKLOG: REGIONAL SPLIT As of March 31, 2004 As of March 31, 2005 Asia / Europe / Asia / Europe / Pacific Central Asia Pacific Central Asia 7% 20% 8% Americas 15% 14% Americas 27% 20% Africa 29% 29% Africa 31% Middle East…
  13. Q1 2005 RESULTS – Technip – slide 13
    II. 2005 TARGETS UNDER IFRS First Quarter 2005 Results 13
  14. Q1 2005 RESULTS – Technip – slide 14
    2005 FRENCH GAAP TARGETS EXPRESSED UNDER IFRS in Millions Revenues: EUR 4.8 to 4.9 billion Operating Margin: 4.8% 2004 IFRS OPERATING MARGIN REFERENCE Operating Income (IFRS) 225.9 Non Op. Items reclassified as Op. Income 21.3…
  15. Q1 2005 RESULTS – Technip – slide 15
    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 Quarter 2005…
  16. Q1 2005 RESULTS – Technip – slide 16
    TRADING TECHNIP ISIN FR0000131708 First Quarter 2005 Results 16
  17. Q1 2005 RESULTS – Technip – slide 17
    III. ANNEXES 1. Q1 2005 IFRS BALANCE SHEET 2. 2004 IFRS INCOME STATEMENT 3. 2004 IFRS BALANCE SHEET 4. STOCK SPLIT 5. RADAR SCREEN 6. ESTIMATED BACKLOG SCHEDULING 7. RECENT CONTRACT AWARDS First Quarter 2005 Results 18
  18. Q1 2005 RESULTS – Technip – slide 18
    Q1 2005 IFRS BALANCE SHEET * (1/2) in Millions Mar. 31, 2005 Dec. 31, 2004 Fixed Assets 3,234.1 3,232.5 Deferred Tax Assets 101.3 66.6 TOTAL NON-CURRENT ASSETS 3,335.4 3,299.1 Contracts in Progress 381.6 400.6 Inventories,…
  19. Q1 2005 RESULTS – Technip – slide 19
    Q1 2005 IFRS BALANCE SHEET * (2/2) in Millions Mar. 31, 2005 Dec. 31, 2004 Shareholders Equity 1,930.2 1,851.6 Minority Interests 10.3 9.8 TOTAL SHAREHOLDERS EQUITY 1,940.5 1,861.4 Convertible Bond 620.9 670.9 Other Long-Term Debt…
  20. Q1 2005 RESULTS – Technip – slide 20
    2004 IFRS INCOME STATEMENT AND BALANCE SHEET First Quarter 2005 Results 21
  21. Q1 2005 RESULTS – Technip – slide 21
    FULL YEAR 2004 IFRS INCOME STATEMENT * in Millions except EPS fully diluted FRENCH GAAP ADJUSTMENTS IFRS Revenues 5,141.0 (0.1) 5,140.9 Gross Margin 668.6 (105.5) 563.1 Depreciation of Fixed Assets (116.2) 116.2 - R&D and Royalties…
  22. Q1 2005 RESULTS – Technip – slide 22
    IFRS BALANCE SHEET AT 12/31/04 * (1/2) in Millions FRENCH GAAP ADJUSTMENTS IFRS Fixed Assets 3,098.1 134.4 3,232.5 Deferred Tax Assets 80.2 (13.6) 66.6 TOTAL NON-CURRENT ASSETS 3,178.3 120.8 3,299.1 Contracts in Progress 6,593.4…
  23. Q1 2005 RESULTS – Technip – slide 23
    IFRS BALANCE SHEET AT 12/31/04 * (2/2) in Millions FRENCH GAAP ADJUSTMENTS IFRS Shareholders Equity (Parent Co.) 1,789.0 62.6 1,851.6 Minority Interests 10.4 (0.6) 9.8 TOTAL SHAREHOLDERS EQUITY 1,799.4 62.0 1,861.4 Convertible Bond…
  24. Q1 2005 RESULTS – Technip – slide 24
    4 FOR 1 STOCK SPLIT Why split Technip stock Average stock value as of April 25, 2005 To reach a larger investor base z The split share price is better CAC 40 50.8 suited for individual investors SBF 120 50.8 Oil Services 32.9 To…
  25. Q1 2005 RESULTS – Technip – slide 25
    MAJOR AWARDS EXPECTED BY TECHNIP AND COMPETITION IN NEXT 12 MONTHS OFFSHORE GAS/LNG REF./PETROCHEM. AGBAMI SURF ETHYLENE XL KHARG (Iran) XL LOI XL (Nigeria) Ras Laffan (Qatar) MOHO BILONDO GASCO AGD 2 (UAE) XL ETHYLENE YANBU L SABIC…
  26. Q1 2005 RESULTS – Technip – slide 26
    BACKLOG: ESTIMATED SCHEDULING in Millions SURF Facilities Onshore- Industries Total Downstream 2005 1,014 618 1,447 151 3,230 2006 838 326 1,528 30 2,722 2007 and Beyond 26 32 1,164 10 1,232 Total 1,878 976 4,139 191…
  27. Q1 2005 RESULTS – Technip – slide 27
    KIKEH: FIRST SPAR DELIVERED OUTSIDE GOM Client: Murphy Oil Corp. Water depth: 1,330 m Completion: 2006 Deep Blue and Nansen SPAR Kikeh First deep offshore Malaysia development in Malaysia. First SPAR to be installed…
  28. Q1 2005 RESULTS – Technip – slide 28
    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 estimated…
  29. Q1 2005 RESULTS – Technip – slide 29
    P-52 SURF Client: Petrobras Water depth: 2,000 m Supply: 221 km of flexible pipes Value: 350 M Execution: JV Technip/Siem Dalia SURF P-52 A new significant Rio de Janeiro development in deep water offshore Brazil Assemble…
  30. Q1 2005 RESULTS – Technip – slide 30
    KHURSANIYAH GAS PLANT Client: Saudi Aramco Production: z 560 MSCFD of sales gas z 300,000 B/D of natural gas liquids z 1,800 T/D of liquid sulfur Completion: 2007 Execution: JV Technip/Bechtel OGD2 Khursaniyah A new major…
  31. Q1 2005 RESULTS – Technip – slide 31
    HOVENSA HYDROTREATING UNIT Client: Hovensa Location: Saint Croix refinery in US Virgin Islands Production: 50,000 BPSD of low sulfur gasoline Completion: 2006 Execution: Technip Curaao Refinery Miami Gulf of Mexico A new step for…
  32. Q1 2005 RESULTS – Technip – slide 32
    DUNG QUAT REFINERY Client: PetroVietnam Production: 145,000 B/D Completion: 2008 Execution: Technip France / Technip Malaysia / and partners Midor Refinery The first crude oil refinery in Dung Quat Vietnam, awarded to a…
  33. Q1 2005 RESULTS – Technip – slide 33
    AKPO FPSO Client: Total Upstream Nigeria Ltd Water depth: 1,100 - 1,700 m Prod. capacity: 225,000 BOE/D Storage capacity: 2 MB Value: 1,080 M Completion: 2008 Execution: Technip/HHI Dalia FPSO After Dalia FPSO, Akpo Nigeria FPSO…

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