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Q4 2014 Full Year Results – Technip

Technip · Feb 18, 2015 · 60 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. Q4 2014 Full Year Results – Technip – slide 1
    Fourth Quarter and Full Year 2014 Results Paris, February 18, 2015
  2. Q4 2014 Full Year Results – Technip – slide 2
    Safe Harbor T his presentation contains both historical and forward-looking statements. These forward-looking statements are not based on historical facts, but rather reflect our current expectations concerning future results and…
  3. Q4 2014 Full Year Results – Technip – slide 3
    Contents 2014 Full Year Review 2014 Operational & Financial Highlights Changing Market Environment: Shaping Technips Business Engaging with Clients 3 4Q & FY 2014 Results
  4. Q4 2014 Full Year Results – Technip – slide 4
    2014 Full Year Review 4 4Q & FY 2014 Results
  5. Q4 2014 Full Year Results – Technip – slide 5
    Technips Financial Performance in 2014 Objectives Financial Performance Adjusted revenue between 4.35 and 4.75 billion Adjusted revenue at 4.9 billion Subsea Subsea Adjusted operating margin at least 12% Adjusted operating margin at…
  6. Q4 2014 Full Year Results – Technip – slide 6
    Technips Operational Performance in 2014 Key focus areas Operational Performance Subsea US Gulf of Mexico, Panyu, Greater Delivering our projects Western Flank Onshore/ Offshore Jubail, Heidelberg, PMP Delivering our projects…
  7. Q4 2014 Full Year Results – Technip – slide 7
    Proposed Dividend Increase of 8% Dividend per share () CAGR: +9% 2.00(1) 1.85 1.68 1.58 1.45 1.35 1.20 2008 2009 2010 2011 2012 2013 2014 Technip is committed to a progressive dividend policy Shareholders offered an…
  8. Q4 2014 Full Year Results – Technip – slide 8
    Backlog Provides Visibility Beyond 2015 Subsea 4Q 2014 Order Intake: 1.3 billion 9.7 billion 4.9 billion 2.8 billion 2.0 billion 2015 2016 2017 & beyond Onshore & Offshore 4Q 2014 Order Intake: 1.9 billion 11.2 billion…
  9. Q4 2014 Full Year Results – Technip – slide 9
    2014 Operational & Financial Highlights 9 4Q & FY 2014 Results
  10. Q4 2014 Full Year Results – Technip – slide 10
    Fourth Quarter Subsea Highlights million Overall group vessel utilization rate Adjusted Revenue 74% in 4Q14 versus 69% a year ago 80% for the full year 2014 1,290 963 963 Offshore campaigns Block 15/06, Angola + 34% Quad 204,…
  11. Q4 2014 Full Year Results – Technip – slide 11
    Fourth Quarter Onshore/Offshore Highlights million Engineering / Procurement Adjusted Revenue Yamal LNG, Russia Maharaja Lela & Jamalulalam South gas 1,514 1,514 1,526 development, Brunei JBF Mangalore PTA plant, India + 1%…
  12. Q4 2014 Full Year Results – Technip – slide 12
    Foreign Exchange Management 2014 Revenues by Currency(1) Most projects are multi- EUR 17% currency and naturally 32% hedged USD & USD pegs 26% BRL, GBP, NOK BRL/GBP/NOK All currency flows are hedged at contract signature or as…
  13. Q4 2014 Full Year Results – Technip – slide 13
    Fourth Quarter & FY 2014: Group Financial Highlights million Y-o-Y Y-o-Y 4Q 14 Change FY 14 Change Full year main elements: Adjusted Revenue 2,816 14% 10,725 16% Subsea adjusted revenue grew 20% Adjusted EBITDA(1) 319 21% 1,108…
  14. Q4 2014 Full Year Results – Technip – slide 14
    Full Year Underlying Net Income of 564 million(1) Non-current items Group Net Income (in million) Sale of TPS engineering services for 9 buildings and infrastructure Other 68 Divestment of India diving business 16 MHB (75%…
  15. Q4 2014 Full Year Results – Technip – slide 15
    Fourth Quarter 2014 & FY 2014: Cash Flow million million 3 Months 12 months September December 2014 2014 Net Income / (Loss) (including 83 442 Non-Controlling Interests) Adjusted Net Adjusted Net Adjusted Depreciation & 96…
  16. Q4 2014 Full Year Results – Technip – slide 16
    Changing Market Environment: Shaping Technips Business 16 4Q & FY 2014 Results
  17. Q4 2014 Full Year Results – Technip – slide 17
    Operational Flexibility: Procurement and Workforce Major Procurement Categories Technip Workforce Worldwide Third party vessels 40 000 40,000 Pipes and valves Compressors, turbines, pumps Subsea equipment 37 500 37,500 Raw…
  18. Q4 2014 Full Year Results – Technip – slide 18
    Flexibility in Fleet Management 2013 2014 2015 2016-2017 New +2 +1 Divested -3 -8 -2 -2 Wholly-owned 19 11 9 8 New +2 +4 Jointly-owned 3 5 5 9 Normand Commander -1 Normand Pioneer Skandi Achiever Lease extension options…
  19. Q4 2014 Full Year Results – Technip – slide 19
    Capex Discipline and Cost Control Capex Costs Continued focus on manufacturing and logistics SG&A* fell by 69 million in 2014 Decision on second replacement diving vessel on o 6.0% of revenue in 2014 vs. 7.7% of revenue in 2013…
  20. Q4 2014 Full Year Results – Technip – slide 20
    Changing Market Environment: Engaging with Clients 20 4Q & FY 2014 Results
  21. Q4 2014 Full Year Results – Technip – slide 21
    Technip showed Strong Order Intake in the Fourth Quarter million Onshore / Offshore Order intake Ethane cracker and derivatives complex, EP&Cm, 1,957 Louisiana, USA 1 586 1,586 Oil and gas terminal for Vashishta & S1 fields,…
  22. Q4 2014 Full Year Results – Technip – slide 22
    Worldwide Presence across Multiple Markets Addressing all Clients Diversified by Geography Diversified Divrsfied By Market Backlog Split 19% Deepwater 23% Deepwater Americas 29% Americas 1,000 meters* 1,000 meters* 29% Asia…
  23. Q4 2014 Full Year Results – Technip – slide 23
    Portfolio of Solutions Adapted for our Clients Technology Conceptual and FEED Project Management Consultancy Vessel services EP&Cm Manufacturing EPCI Projects EPC Projects (Subsea) (Onshore / Offshore) Diversified revenue…
  24. Q4 2014 Full Year Results – Technip – slide 24
    Optimize Cost- and Schedule-Driven Projects Conceptual studies FEED EPC(I) / Services Design cost-effective project execution plans by engaging early: Genesis and Technip Stone & Webster Process Technologies Offer Integrated…
  25. Q4 2014 Full Year Results – Technip – slide 25
    Cost-Effective Solutions to Answer Clients Challenges Upstream Client goals Downstream Conceptual studies and FEEDs Conceptual studies and FEEDs Optimize designs Field architecture Technology licensing Smart solutions for…
  26. Q4 2014 Full Year Results – Technip – slide 26
    2015 Objectives Aligned with Previous Guidance Subsea Adjusted revenue between 5.2 and 5.5 billion Adjusted operating income from recurring activities(1) between 810 and 840 million A much stronger 1Q than a year ago Onshore /…
  27. Q4 2014 Full Year Results – Technip – slide 27
    Starting 2015 in a Strong Position Technology A record backlog of projects to deliver Key differentiating assets Actions in place to reduce our costs Execution capability Capex discipline reinforced Vertical integration Engaging…
  28. Q4 2014 Full Year Results – Technip – slide 28
    Annex
  29. Q4 2014 Full Year Results – Technip – slide 29
    A World Leader Bringing Innovative Solutions to the Energy Industry A world leader in project management, engineering and construction for oil & gas, chemicals and energy companies Services provided to clients in its segments:…
  30. Q4 2014 Full Year Results – Technip – slide 30
    Global Business with Unique Worldwide Footprint Evanton Technip Umbilicals(1) Ltd: Newcastle Orkanger Pori Oslo Aberdeen Stanvanger St. Petersburg Calgary Milton Keynes Zoetermeer St. Johns London Warsaw Dsseldorf Boston…
  31. Q4 2014 Full Year Results – Technip – slide 31
    Complementary Business Segments Subsea Onshore Offshore 2014: 2014: Adjusted Revenue: 4,880 million Adjusted Revenue: 5,844 million Adjusted Operating Income: 635 million Adjusted Operating Income: 276 million Unique vertical…
  32. Q4 2014 Full Year Results – Technip – slide 32
    Driving Financial Structure and Performance million Subsea Onshore/Offshore Adjusted Adjusted Adjusted Adjusted Operating Operating Backlog Operating Operating Backlog Income(1) Margin(2) Income(1) Margin(2) 11,208 635 351 575…
  33. Q4 2014 Full Year Results – Technip – slide 33
    Pursue a Balance of Contract Sizes(1) Subsea Onshore & Offshore 9.7 billion backlog 11.2 billion backlog Kaombo, our largest project, added over Yamal LNG, our largest project, added 1.5 billion over 4 billion Next largest…
  34. Q4 2014 Full Year Results – Technip – slide 34
    Adjusted Consolidated Statement of Financial Position million December 31, December 31, 2013(1) 2014 Fixed Assets 5,976.9 6,414.2 Construction Contracts Amounts in Assets 405.0 756.3 Other Assets 3,436.2 3,691.2 Cash & Cash…
  35. Q4 2014 Full Year Results – Technip – slide 35
    Subsea Vertical Integration: Customer Support from Concept to Execution Concept Execution Upstream Project Engineering & Procurement Engineering P with Genesis(1) R Manufacturing O Pre-FEED(2) and FEED J Flexible risers and…
  36. Q4 2014 Full Year Results – Technip – slide 36
    Differentiation Through Genesis Provide independent decision support from pre-feasibility, through feasibility, concept selection and pre-FEED Over 1,500 dedicated Engineers and Designers Delivering Fit-for-Purpose Solutions for…
  37. Q4 2014 Full Year Results – Technip – slide 37
    Innovation & Technology Center (ITC) Boost innovation to provide our clients with solutions for increasing complex & harsh subsea Innovation & Technology Center (1) in developments Rueil-Malmaison, France Demonstrate Technips…
  38. Q4 2014 Full Year Results – Technip – slide 38
    Worlds Only Integrated Subsea Solution Provider Genesis(1): Providing independent subsea architecture development and component selection Technip: Integrating our subsea proprietary technologies and offshore platform know-how with…
  39. Q4 2014 Full Year Results – Technip – slide 39
    Very Broad Execution Capabilities in Subsea Heavy Lift J-Lay & S-Lay Reel-Lay J-Lay & Subsea Reel-Lay Heavy Lift Ultra-deep water infield lines Deepwater infield lines Deep-to-shore (Very high tensions: alliance with…
  40. Q4 2014 Full Year Results – Technip – slide 40
    High Visibility in Brazil through Strong PLSV Demand Tonnage Vitria 250t Four new PLSVs with DOF 250t Niteri 5-year option 550t Coral Do Atlantico (5-year charter) 5-year option pre-salt Estrela Do Mar (5-year charter)…
  41. Q4 2014 Full Year Results – Technip – slide 41
    High Performing Fleet(1) Per Type of Vessel (2) Deep Constructor Deep Orient Deep Pioneer Wellservicer Flexible Lay Sunrise 2000 Orelia Diving Multi & North Sea Atlantic Support Skandi Achiever Construction Vessel North Sea…
  42. Q4 2014 Full Year Results – Technip – slide 42
    Technip Heerema Strategic Alliance: Award of Kaombo Project in April 2014 Unique complementarity of capabilities for EPCI projects in complex environments: Experienced engineering & project management High capacity vessels with…
  43. Q4 2014 Full Year Results – Technip – slide 43
    World Leader in Gas Monetization, Refining and Petrochemicals Gas Monetization Gas treatment Fengzhen LNG Plant, EP, China LNG Trunkline LNG, FEED, USA (Liquefied Natural Gas) Yamal LNG, EPC, Russia GTL (Gas to Liquids)…
  44. Q4 2014 Full Year Results – Technip – slide 44
    Technip has a Portfolio of Market Leading Onshore Technologies Product Line Technologies Gas Monetization Cryogenic Separation, Gas Liquefaction, Gas Processing Proprietary technologies Hydrogen Steam Methane Reforming, Syngas, and…
  45. Q4 2014 Full Year Results – Technip – slide 45
    Technip Stone & Webster Process Technology Diversifies Revenue Streams Offering three types of services Licenses Process Design / Engineering Proprietary Equipment Licensed proprietary Process design packages / Design, supply…
  46. Q4 2014 Full Year Results – Technip – slide 46
    U.S. Shale Gas Opportunities Downstream Monetization Technips Leading Positions NGLs Ethylene Plants Grassroots Upstream Midstream Revamps Extraction Separation Derivative Units Propylene Drilling Polymers Gas Treatment / NGL…
  47. Q4 2014 Full Year Results – Technip – slide 47
    Yamal LNG: High Revenue and Capacity Utilization Visibility through 2019 Project overview Client: Yamal LNG (Novatek, Total, CNPC) Technip leader of partnership (50%) with JGC & Chiyoda 3 trains of 5.5 mtpa capacity each to be…
  48. Q4 2014 Full Year Results – Technip – slide 48
    A unique and Customized Product Range to Match Offshore Client Needs Fixed Facilities Services Conventional Self-Elevating Floatover HU&C GBS Artificial Islands Fixed Platforms (TPG 500) Installation Modifications Floating…
  49. Q4 2014 Full Year Results – Technip – slide 49
    FLNG Leader with First Mover Advantage Shell FLNG Petronas FLNG 1 LNG capacity: 3.6 mtpa LNG capacity: 1.2 mtpa Field: Prelude, Western Australia Field: Offshore Malaysia Project Status: Project Status: Construction ongoing in…
  50. Q4 2014 Full Year Results – Technip – slide 50
    Technip: Attractive Long Term Partner* Air Products Heerema 20-year milestone of the longest and most Alliance through combination of unique productive global hydrogen alliance assets and engineering resources to help supporting the…
  51. Q4 2014 Full Year Results – Technip – slide 51
    Africa: Expanding Footprint and Long Term Prospects Assets & Activities Technip in Africa Engineering & project management 1,000 people centers 1st office founded in 1995 Spoolbase: Dande, Angola Strong national content Umbilical…
  52. Q4 2014 Full Year Results – Technip – slide 52
    Asia Pacific: Global Implementation for High Potential Market Assets & Activities Technip in Asia Pacific Engineering & project management centers 9,000 people Founded in 1982 Flexible/umbilical manufacturing plant: Asiaflex,…
  53. Q4 2014 Full Year Results – Technip – slide 53
    Middle East: Largest Engineering Capacity in the Region Assets & Activities Technip in Middle East Engineering & project management 2,500 people centers Founded in 1984 Wide range of services: from conceptual and feasibility…
  54. Q4 2014 Full Year Results – Technip – slide 54
    North America: Solid Reputation With Enhanced Portfolio of Downstream Technologies Assets & Activities Engineering & project management centers with Technip in North America Lucius Spar, US Gulf of Mexico Subsea, and Onshore/Offshore…
  55. Q4 2014 Full Year Results – Technip – slide 55
    North Sea Canada: Strengthening our Presence Assets & Activities Engineering & project management centers Technip in North Sea Canada Spoolbases 4,500 people Orkanger, Norway Evanton, Scotland 1st office founded in 1978 Steel…
  56. Q4 2014 Full Year Results – Technip – slide 56
    Brazil: Building upon Solid & Profitable Business Technip in Brazil Differentiating Assets & Activities 38 years 4,700 People Wide range of assets: Founded in 1977 High-end manufacturing plants: Vitria and Au (worlds most…
  57. Q4 2014 Full Year Results – Technip – slide 57
    Technip in Brazil: Steady Development to Provide Unmatched Local Content New manufacturing plant: Au 6 PLSVs on long-term charters for up to 3,000m water depth 1st IPB(2) in Brazil 1st Brazilian PLSV: Skandi Vitria Roncador…
  58. Q4 2014 Full Year Results – Technip – slide 58
    Shareholding Structure, November 2014 (May 2014) North America Treasury Shares 37.6% / (35.1%) 1.2% / (1.8%) Others 5.8% / (6.1%) IFP Energies Nouvelles 2.5% / (2.5%) Institutional Employees Investors 1.8% / (1.8%) 79.44% /…
  59. Q4 2014 Full Year Results – Technip – slide 59
    Technips Share Information ISIN: FR0000131708 Bloomberg: TEC FP Reuters: TECF.PA SEDOL: 4874160 OTC ADR ISIN: US8785462099 OTCQX: TKPPY Convertible Bonds: OCEANE 2010 ISIN: FR0010962704 OCEANE 2011 ISIN: FR0011163864 59…
  60. Q4 2014 Full Year Results – Technip – slide 60
    Technip has a sponsored Level 1 ADR Bloomberg ticker: TKPPY CUSIP: 878546209 OTC ADR ISIN: US8785462099 Depositary bank: Deutsche Bank Trust Company Americas Depositary bank contacts: ADR broker helpline: +1 212 250 9100 (New…

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