Slide 1: Q3 2023 Earnings Presentation
Q3 2023 Earnings Presentation October 26, 2023
Slide 2: Disclaimer
Disclaimer Forward-looking statements This communication contains “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements usually relat
Slide 3: Operational highlights and financial results
Operational highlights and financial results
Slide 4: Q3 2023 Operational summary
Q3 2023 Operational summary Takeaways Operating results for both Subsea inbound over next five segments now expected above quarters to approach $11 billion midpoint of full-year guidance Highlights Subsea inbound of $1.8 billion, a book-to-bill of 1.1; full-year Subsea orders expected to exceed $9
Slide 5: Q3 2023 Financial results
Q3 2023 Financial results Sequential highlights $2.1B Total Company adjusted EBITDA of $284 million, excluding foreign exchange: Inbound orders • Subsea increased due to higher volume and favorable mix $13.2B • Surface Technologies increased due to improved operational performance in the Middle Ea
Slide 6: Subsea opportunities in the next 24 months
Subsea opportunities in the next 24 months1 dded Removed hange indded cope alue ncrease to above , ctober update pro ect value ranges reflect potential subsea scope Q3 2023 Earnings Call Presentation | 6
Slide 7: 2023 Full-year financial guidance
2023 Full-year financial guidance1 As of February 23, 2023 Subsea Surface Technologies Revenue in a range of $5.9 – 6.3 billion Revenue in a range of $1.3 – 1.45 billion Adjusted EBITDA margin in a range of 12.5 – 13.5% Adjusted EBITDA margin in a range of 12 – 14% TechnipFMC Corporate exp
Slide 8: Q3 2023 Cash flow and net debt
Q3 2023 Cash flow and net debt (in $ millions) Free cash flow $178M 800 (44) Net Debt (In millions, unaudited) (72) 700 222 September 30, (1) 2023 Cash and cash equivalents $ 691 600 691 Short-term debt and current portion of long-term debt (407) Long-term debt, less current portion (933) 585 500 Ne
Slide 9: Backlog scheduling provides visibility
Backlog scheduling provides visibility Subsea1 Surface Technologies as of September 30, 2023 as of September 30, 2023 2023 $1.1B 2023 $340M 2025+ $12.1 $1.2 2024 $6.5B billion $4.5B billion 2024+ $817M 1 Backlog does not capture all revenue potential for Subsea Services Q3 2023 Earnings Call Present
Slide 10: Appendix
Appendix Q3 2023 Earnings Call Presentation | 10
Slide 11: Glossary
Glossary Term Definition Term Definition CAGR Compound Annual Growth Rate iLOF™ Integrated Life of Field CCS Carbon Capture and Storage LNG Liquefied Natural Gas ESG Environmental, Social and Governance MMb/d Million Barrels per Day FID Final Investment Decision Mtpa Million Metric Tonnes per Annum
Slide 12: Reconciliation of GAAP to Non-GAAP Financial Measures
Exhibit 6 TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, unaudited) In addition to f inancial results determined in accordance with U.S. generally accepted accounting principles (GAAP), the third quarter 2023 Earnings Release also inc
Slide 13: Reconciliation of GAAP to Non-GAAP Financial Measures
Exhibit 8 TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, unaudited) Q3 2023 Earnings Call Presentation | 13
Slide 14: Reconciliation of GAAP to Non-GAAP Financial Measures
Exhibit 8 TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, unaudited) Q3 2023 Earnings Call Presentation | 14
Slide 15: Reconciliation of GAAP to Non-GAAP Financial Measures
Exhibit 8 TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, unaudited) Q3 2023 Earnings Call Presentation | 15
Slide 16: Reconciliation of GAAP to Non-GAAP Financial Measures: Net debt
Exhibit 10 TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, unaudited) September 30, June 30, September 30, 2023 2023 2022 Cash and cash equivalents $ 690.9 $ 585.2 $ 711.5 Short-term debt and current portion of long-term debt (407.3) (
Slide 17: Reconciliation of GAAP to Non-GAAP Financial Measures: Free cash flow
Exhibit 11 TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, unaudited) Three Months Ended September 30, Nine Months Ended September 30, 2023 2023 2022 Cash provided (required) by operating activities from continuing operations $ 221.9 $
Slide 18: TechnipFMC
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