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FULL YEAR 2009 RESULTS – Saipem Spa

Saipem Spa · Feb 10, 2010 · 20 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. FULL YEAR 2009 RESULTS – Saipem Spa – slide 1
    Presentation to the Financial Community FY 2009 Results February 2010
  2. FULL YEAR 2009 RESULTS – Saipem Spa – slide 2
    Forward-Looking Statements Forward-looking statements are based on a number of assumptions and expectations that could ultimately prove inaccurate, as they are subject to risks and variables, outside the companys control, that could…
  3. FULL YEAR 2009 RESULTS – Saipem Spa – slide 3
    Presentation Outline FY 2009 Financial Results Oil & Gas Industry Market Outlook Saipem in 2010: Resilient despite Recession Backlog Analysis Offshore Example Onshore Example Drilling Example 2010 Guidance Beyond 2010:…
  4. FULL YEAR 2009 RESULTS – Saipem Spa – slide 4
    FY 2009 Financial Results 4
  5. FULL YEAR 2009 RESULTS – Saipem Spa – slide 5
    FY 2009 Financial Results (Mln ) Revenues EBITDA EBIT Net Profit 10094 10292 Adjusted 1596 % on Revenues 1156 % on 1436 % on 1083 % on Revenues Revenues Revenues 338 (7.0%) 4831 290 (6.0%) 5324 352 (6.6%) 303 (5.7%) 732 161…
  6. FULL YEAR 2009 RESULTS – Saipem Spa – slide 6
    FY 2009 Financial Results (Mln ) Capex Sources and Application of Funds, Net Debt & D/E Ratio 2044 D/E =0.83 144 2845 400 1615 28 1500 200 20 D/E = 0.74 200 2032 2022 175 800 430 232 690 1209 37 1615 850 700 697 1172…
  7. FULL YEAR 2009 RESULTS – Saipem Spa – slide 7
    FY 2009 Contract Acquisitions & Backlog (Mln ) New Contract Acquisitions Backlog 13860 19105 18730 9917 7522 9201 8035 3665 1487 578 1463 1197 760 585 3778 3759 5089 4381 4682 5430 2008 2009 Dec. 31, 08 Dec. 31,…
  8. FULL YEAR 2009 RESULTS – Saipem Spa – slide 8
    Oil & Gas Industry Market Outlook 8
  9. FULL YEAR 2009 RESULTS – Saipem Spa – slide 9
    Oil & Gas Industry Market Outlook - Uncertainty Decreasing but Recovery is Hesitant - Oil Price stabilizing Natural Gas still weak Natural 80 160 Oil Tentative steps towards sustainable economic recovery 140 US/bb 70 Gas 120…
  10. FULL YEAR 2009 RESULTS – Saipem Spa – slide 10
    Oil & Gas Industry Market Outlook - Downturn Impact Timing: Oil Companies Vs. Oil Services - (Immediate) (Delayed) Oil Companies* Net Income Aggregate Net Income 120 60% YoY ( Bln) 100 44% 40% %Growth/ 80 20% /Decrease 60 6% 0%…
  11. FULL YEAR 2009 RESULTS – Saipem Spa – slide 11
    Saipem in 2010: Resilient despite Recession 11
  12. FULL YEAR 2009 RESULTS – Saipem Spa – slide 12
    Saipem in 2010: Resilient despite Recession Backlog: Remarkable Mix of Quality and Quantity Bln Backlog 9.9 10.3 Backlog Dec. 31, '08 Dec. 31, '09 19.1 18.7 Bln Bln 2009 New Contract Acquisitions Revenues Saipem Exposure…
  13. FULL YEAR 2009 RESULTS – Saipem Spa – slide 13
    Saipem in 2010: Resilient despite Recession Offshore Example: Bigger and Tougher Nord Stream Gas Pipeline For cartographic image: 2007 GoogleTMTM US US Dept Dept of of State State Geographer Geographer 2010 2010…
  14. FULL YEAR 2009 RESULTS – Saipem Spa – slide 14
    Saipem in 2010: Resilient despite Recession Onshore Example: Big and Complex Arzew LNG 3rd Train (GNL3Z) Client: Sonatrach Scope of work: EPC of a single-train gas liquefaction (LNG) plant, capacity of 4.7 million tonnes per…
  15. FULL YEAR 2009 RESULTS – Saipem Spa – slide 15
    Saipem in 2010: Resilient despite Recession Offshore Drilling Capex Plan Completed in 2010 Rig type Pre-Capex Fleet Capex Plan 2006-2011 Final N. % of Rig Growth P/L impact P/L impact before 2010 starting from 2010 DW…
  16. FULL YEAR 2009 RESULTS – Saipem Spa – slide 16
    Saipem in 2010: Resilient despite Recession 2010 Guidance Revenues Maintained (some variation in BU mix) Higher EBITDA Increased Depreciation, mainly in Drilling EBIT Maintained Capex 1.5 Bln 16
  17. FULL YEAR 2009 RESULTS – Saipem Spa – slide 17
    Beyond 2010: Benefiting from Capex Plan 17
  18. FULL YEAR 2009 RESULTS – Saipem Spa – slide 18
    Beyond 2010: Benefiting from Capex Plan Improved Strategic Asset Base Capex Plan 2006-2011 8+ Bln Powerful New Assets Free resources for Recovering Strengthen future opportunities Oil Services Market Frontier Capacity Future…
  19. FULL YEAR 2009 RESULTS – Saipem Spa – slide 19
    Conclusions 19
  20. FULL YEAR 2009 RESULTS – Saipem Spa – slide 20
    Conclusions Oil Price perceived as stabilizing: gradual resumption of E&P Capex Positive Trend Gas Demand still weak: may affect timing of gas-driven projects Context Downturn/Recovery Bottom Line Impact Different Timing: Oil…

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