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Q2 FULL YEAR 2014 RESULTS – Technip

Technip · Jul 24, 2014 · 59 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. Q2 FULL YEAR 2014 RESULTS – Technip – slide 1
    Second Quarter 2014 Results Paris, July 24, 2014
  2. Q2 FULL YEAR 2014 RESULTS – Technip – slide 2
    Second Quarter 2014 Highlights Results Project awards Revenue increased by 9% year-on- Yamal LNG, Russia: Very major year, to 2.6 billion contract for onshore development in the +12.4% growth in Subsea Arctic +5.4% growth in…
  3. Q2 FULL YEAR 2014 RESULTS – Technip – slide 3
    2Q 2014 Operational & Financial Highlights 4 Second Quarter 2014 Results
  4. Q2 FULL YEAR 2014 RESULTS – Technip – slide 4
    Subsea Operations Bridge 1Q & 2Q 2Q Comparison Factors affecting 1Q All 7 GoM projects completed 100 million revenues from 7 GoM offshore phases: minimal revenue projects with no margin Start of offshore phases on some Early…
  5. Q2 FULL YEAR 2014 RESULTS – Technip – slide 5
    Second Quarter Subsea Highlights million Overall group vessel utilization rate: 88% versus 84% in 2Q 2013 Revenue Offshore campaigns: 1,232 Greater Western Flank, Australia 1,096 Panyu, China Quad 204, Scotland Byla, Norway…
  6. Q2 FULL YEAR 2014 RESULTS – Technip – slide 6
    Second Quarter Onshore/Offshore Highlights million Upstream Revenue Heidelberg Spar, US Gulf of Mexico 1,383 Martin Linge platform, Norway 1,312 Hejre platform, Denmark Malikai TLP, Malaysia Umm Lulu package 2, Abu Dhabi Gas,…
  7. Q2 FULL YEAR 2014 RESULTS – Technip – slide 7
    Group Financial Highlights million 2Q 13(3) 2Q 14 Main elements Revenue 2,408.2 2,615.4 Negative translation impact from forex of 125.5 million EBITDA(1) 287.3 303.0 Good increase in EBITDA: EBITDA Margin 11.9% 11.6%…
  8. Q2 FULL YEAR 2014 RESULTS – Technip – slide 8
    Second Quarter 2014: Cash Flow million Mainelements elements Second Quarter Main Cash(1) as of March 31, 2014 2,939.2 Net Cash Generated Small positive change in working 309.2 from / (Used in) Operating Activities capital: +39…
  9. Q2 FULL YEAR 2014 RESULTS – Technip – slide 9
    Investments in Offshore Competencies Strategic Agreement on Kanfa 49% acquisition of Kanfa from Sevan Marine Leading independent topsides and process technology specialists 50 highly-skilled engineers in Norway Expands access to…
  10. Q2 FULL YEAR 2014 RESULTS – Technip – slide 10
    Optimization Nearly Completed 2012/2013 Today 2 PLSVs(1) (550 ton) 33, including 30, including 5 under construction 9 under construction 4 PLSVs(1) (2x300 ton and 2x650 ton) Skandi Africa Long-term charters Diving…
  11. Q2 FULL YEAR 2014 RESULTS – Technip – slide 11
    Backlog by Contract Size(1) Subsea Onshore & Offshore 9.5 billion backlog 10.4 billion backlog Kaombo, our largest project, added Yamal, our largest project, added over 1.5 billion over 4 billion Next largest projects: Next…
  12. Q2 FULL YEAR 2014 RESULTS – Technip – slide 12
    Objectives for 2014 and 2015 2014 Subsea Revenue increased to between 4.6 and 4.9 billion Operating margin of at least 12%: no change Onshore / Offshore Revenue increased to between 5.55 and 5.80 billion Base case operating margin…
  13. Q2 FULL YEAR 2014 RESULTS – Technip – slide 13
    Sustaining Profitable Growth 14 Second Quarter 2014 Results
  14. Q2 FULL YEAR 2014 RESULTS – Technip – slide 14
    Solid Fundamentals Supporting Long-Term Growth World Energy Consumption Evolution 2015 - 2035 (+33%) In million boe/day 353 335 6% Renewables 316 7% Hydro 5% Nuclear 293 266 27% Coal 240 6% 5% 215 30% Natural Gas 26% Driven…
  15. Q2 FULL YEAR 2014 RESULTS – Technip – slide 15
    A Changing, Complex Industry Near-Term Major NOCs still move forward their investment plans. Example of Petrobras(1) IOCs vocal about capex discipline(3) Total Capex in billion(1) 236 237 Recently delayed or canceled projects: 225…
  16. Q2 FULL YEAR 2014 RESULTS – Technip – slide 16
    Business Environment North Sea North America & Caribbean Statoil reducing its spending Gulf of Mexico Continued good level of tendering activity on UK side Lower offshore activity in GoM: projects in New entrants in subsea early…
  17. Q2 FULL YEAR 2014 RESULTS – Technip – slide 17
    Backlog Scheduling(1) Subsea Onshore/Offshore Group million 2014 (6 months) 2,396 2,501 4,897 2015 3,920 3,796 7,716 2016 and beyond 3,203 4,044 7,247 Total 9,519 10,341 19,860 (1) Backlog estimated scheduling as of…
  18. Q2 FULL YEAR 2014 RESULTS – Technip – slide 18
    Record Backlog Provides Increased Visibility Subsea 2016 3.2 billion end 2009(1) 2Q 2014 24% 34% 41% 5% 71% 25% 3.0 billion N N +1 N+2 & beyond 9.5 billion 2016 Onshore & Offshore 4.0 billion end 2009(1) 2Q 2014 16%…
  19. Q2 FULL YEAR 2014 RESULTS – Technip – slide 19
    West Africa Subsea Projects Anchor Asset Utilization Moho Nord, Congo Block 15/06, Angola Client: Total Client: ENI Scope: major EPCI & supply for Scope: large EPCI & supply for flexibles and rigid at water depths up to 1,400…
  20. Q2 FULL YEAR 2014 RESULTS – Technip – slide 20
    PLSVs Charters Grow in Importance Total value excluding options: 1.3 billion(1) Vitria Niteri 5 year option Coral Do Atlantico (5 year charter) 5 year option Estrela Do Mar (5 year charter) 5 year option Buzios (8 year…
  21. Q2 FULL YEAR 2014 RESULTS – Technip – slide 21
    Yamal LNG: High Revenue and Capacity Utilization Visibility through 2019 Engineering, Procurement & Fabrication of modules: 4.5 billion order intake announced on May 15, 2014 On-the-ground Construction: Scope recognized in…
  22. Q2 FULL YEAR 2014 RESULTS – Technip – slide 22
    Technip in the Current Environment Solid backlog provides long-term visibility in both segments Pursue investments in technology and in the product supply part of our business Improving cash flow and returns in Subsea…
  23. Q2 FULL YEAR 2014 RESULTS – Technip – slide 23
    Annex 24 Second Quarter 2014 Results
  24. Q2 FULL YEAR 2014 RESULTS – Technip – slide 24
    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:…
  25. Q2 FULL YEAR 2014 RESULTS – Technip – slide 25
    40,000 People Throughout the World, Growing Close to Clients 4,800 +55% 9,500 3,800 +38% 2,500 3,300 +90% +67% 9,800 +83% +133% Fleet & others 1,000 4,500 +100% +73% 114 Nationalities across 48 countries Dec.…
  26. Q2 FULL YEAR 2014 RESULTS – Technip – slide 26
    A World Leader Bringing Innovative Solutions to the Oil & Gas Industry Subsea Onshore Offshore Unique vertical integration Proven track record with customers & partners R&D Engineering, procurement and construction Design &…
  27. Q2 FULL YEAR 2014 RESULTS – Technip – slide 27
    Technips Strengths Driving Backlog Growth Ethylene and hydrogen To Deliver Sustainable & Specialized refining and Profitable Growth petrochemical technologies Technology Strong track record in major projects execution Pioneers…
  28. Q2 FULL YEAR 2014 RESULTS – Technip – slide 28
    and Make Technip an Attractive Long Term Partner Long Term Partnerships & Alliances Shell ExxonMobil BP PTA Sasol GTL FEED COOEC Huanqiu Heerema Ongoing EPC projects Conceptual & Licensing / FEEDs won where Technip had…
  29. Q2 FULL YEAR 2014 RESULTS – Technip – slide 29
    Two Complementary Business Models Driving Financial Structure and Performance million Subsea Onshore/Offshore Operating Operating Operating Operating Backlog Backlog Income Margin Income Margin 10,341 189 9,519 86 15.3%…
  30. Q2 FULL YEAR 2014 RESULTS – Technip – slide 30
    Backlog Analysis By Geography By Market Split By Customer Others 1% Petrochems 7% Africa Others 18% Refining / Heavy Oil 5% 24% Gas / LNG / FLNG 26% Middle East 6% Yamal LNG 22% Americas 18% National 23% Shallow Water…
  31. Q2 FULL YEAR 2014 RESULTS – Technip – slide 31
    Second Quarter Order Intake million Order intake Onshore / Offshore 4,839 Yamal LNG, EPC, JSC Yamal LNG, Russia RAPID, Project Management Consultancy, Petronas, Malaysia 1,213 723 Matindok, EPC, Pertamina, Indonesia 2Q 13(2)…
  32. Q2 FULL YEAR 2014 RESULTS – Technip – slide 32
    Consolidated Statement of Financial Position million December 31, June 30, (1) 2013 2014 Fixed Assets 5,976.9 6,114.1 Construction Contracts Amounts in Assets 405.0 765.6 Other Assets 3,436.2 3,363.9 Cash & Cash Equivalents…
  33. Q2 FULL YEAR 2014 RESULTS – Technip – slide 33
    Subsea: Return On Capital Employed (ROCE) million Mainelements elements 2012 2013 Main EBIT 606 585 Tax Rate 27.4% 25.1% EBIT after tax 440 438 Assets Employed(1) 1,602 2,021 100% Vessels, Machinery and Equipment, 32% in 2013…
  34. Q2 FULL YEAR 2014 RESULTS – Technip – slide 34
    Vertically Integrated Solution Offering: Two Examples of Major EPCI(1) Projects Jangkrik Moho Nord Client: ENI Client: Total 70 kilometers offshore Makassar Strait, Offshore Congo from shore at water depths Indonesia up to 1,100…
  35. Q2 FULL YEAR 2014 RESULTS – Technip – slide 35
    Subsea Vertical Integration: Customer Support from Concept to Execution Concept Execution Project Engineering & Procurement P R Upstream O Manufacturing Engineering J With Genesis(1) E C Flexible risers Rigid Pipeline…
  36. Q2 FULL YEAR 2014 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. Q2 FULL YEAR 2014 RESULTS – Technip – slide 37
    Innovation & Technology Center (ITC) ITC approach: Boost innovation to provide our clients Innovation & Technology Center (1) in with solutions for increasing complex & harsh Rueil-Malmaison, France subsea developments…
  38. Q2 FULL YEAR 2014 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. Q2 FULL YEAR 2014 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. Q2 FULL YEAR 2014 RESULTS – Technip – slide 40
    Global Business with Unique Multi-Local Footprint Technip Umbilical (1) Ltd: Evanton: Scotland More than 30 years of TPU(2) supply & the worlds largest Orkanger: Norway STU(3) facility Pori: Finland Technip Umbilical* Ltd:…
  41. Q2 FULL YEAR 2014 RESULTS – Technip – slide 41
    High Performing Fleet(1) Deep Orient Skandi Niteroi & Vitoria Deep Pioneer Flexible Lay & Construction Apache II Deep Energy Deep Blue J-Lay & Rigid Reel Lay Skandi Arctic Orelia Skandi Achiever Diving Multi…
  42. Q2 FULL YEAR 2014 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. Q2 FULL YEAR 2014 RESULTS – Technip – slide 43
    World Leader in Gas Monetization, Refining and Petrochemicals Gas Monetization Refining Petrochemicals Gas treatment Hydrogen Ethylene LNG (Liquefied Clean fuels Polyolefins Natural Gas) Heavy oil upgraders Aromatics GTL (Gas to…
  44. Q2 FULL YEAR 2014 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 Hydrogen technologies Steam Methane Reforming, Syngas,…
  45. Q2 FULL YEAR 2014 RESULTS – Technip – slide 45
    Yamal LNG: Ramp-up with Substantial Resource Mobilization Technip leader of partnership (50%) Client: Yamal LNG (Novatek, Total, CNPC) Located in Yamal Peninsula, Russia 3 trains of 5.5 mtpa capacity each to be delivered over…
  46. Q2 FULL YEAR 2014 RESULTS – Technip – slide 46
    Process Technology Diversifies Revenue Streams Process Technologies Licenses Process Design / Engineering Proprietary Equipment Licensed proprietary technologies Process design packages / Design, supply and installation of…
  47. Q2 FULL YEAR 2014 RESULTS – Technip – slide 47
    A unique and Customized Product Range to Match Offshore Client Needs Fixed Facilities Services Conventionnal Self-Elevating Floatover HU&C GBS Artificial Islands Fixed Platforms (TPG 500) Installation Modifications Floating…
  48. Q2 FULL YEAR 2014 RESULTS – Technip – slide 48
    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 Construction ongoing in Korea Construction ongoing in…
  49. Q2 FULL YEAR 2014 RESULTS – Technip – slide 49
    A Worldwide Contractor: Main Offshore Projects since 1996 Aasta Hansteen: Statoil Spar Hull Harding: BP/TAQA TPG 500 (3) Martin Linge: Total Fixed Facility Elgin Franklin: Elf/Total TPG 500(3) Hejre: DONG Energy Fixed…
  50. Q2 FULL YEAR 2014 RESULTS – Technip – slide 50
    Africa: Expanding Footprint and Long Term Prospects Technip in Africa 1,000 people 1st office founded in 1995 Strong national content Ultra-deep water projects requiring Lagos technical innovation Accra Port Harcourt Dande…
  51. Q2 FULL YEAR 2014 RESULTS – Technip – slide 51
    Asia Pacific: Global Implementation for High Potential Market Assets & Activities Technip in Asia Pacific Engineering & project management centers 9,800 people Founded in 1982 Flexible/umbilical manufacturing plant: Asiaflex,…
  52. Q2 FULL YEAR 2014 RESULTS – Technip – slide 52
    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…
  53. Q2 FULL YEAR 2014 RESULTS – Technip – slide 53
    North America: Solid Reputation With Enhanced Portfolio of Downstream Technologies Assets & Activities Lucius Spar, US Gulf of Mexico Engineering & project management centers with North America Subsea, and Onshore/Offshore…
  54. Q2 FULL YEAR 2014 RESULTS – Technip – slide 54
    North Sea Canada: Market Leadership in a Growing Market Assets & Activities Technip in North Sea Engineering & project management centers 4,800 people Spoolbases Orkanger, Norway 1st office founded in 1978 Evanton, Scotland Steel…
  55. Q2 FULL YEAR 2014 RESULTS – Technip – slide 55
    Brazil: Building upon Solid & Profitable Business Technip in Brazil Differentiating Assets & Activities +36 years 4,500 People Wide range of assets: Founded in 1977 High-end manufacturing plants: Flexibras and Au (worlds most…
  56. Q2 FULL YEAR 2014 RESULTS – Technip – slide 56
    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…
  57. Q2 FULL YEAR 2014 RESULTS – Technip – slide 57
    Shareholding Structure, May 2014 (Nov 2013) North America Treasury Shares 35.1% / (37.2%) 1.8% / (1.5%) Others 6.1% / (4.9%) IFP Energies Nouvelles 2.5% / (2.5%) Institutional Employees Investors 1.8% / (1.9%) 80.82% /…
  58. Q2 FULL YEAR 2014 RESULTS – Technip – slide 58
    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…
  59. Q2 FULL YEAR 2014 RESULTS – Technip – slide 59
    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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