Tecnicas Reunidas Sa · BME:TRE
Tecnicas Reunidas Sa — Tecnicas Reunidas Sa Ord — 9M 2023 Earnings Presentation
25 slides from Tecnicas Reunidas Sa's earnings presentation, Nov 15, 2023
Slide 1: 9M 2023 Results
9M 2023 Results November 15th 2023 Juan Lladó – Executive Chairman Eduardo San Miguel - CEO
Slide 2: Index
Index 1 Q3 2023 main achievements 1.1 Awards: Natural Gas & Petchem 1.2 Strategic Agrement TR - Sinopec 1.3 Track 2 9M 2023 results 3 Guidance 2
Slide 3: Index
Index 1 Q3 2023 main achievements 1.1 Awards: Natural Gas & Petchem 1.2 Strategic Agrement TR - Sinopec 1.3 Track 2 9M 2023 results 3 Guidance 3
Slide 4: Commercial activity update – YTD awards
Commercial activity update – YTD awards As of 28th July 4
Slide 5: Commercial activity update – YTD awards
Commercial activity update – YTD awards As of 15th November As of 28th July €4.1bn €2bn Kazazot (€1.2bn) MERAM (€1.7bn) Natural gas Hanseatic (€0.5bn) Track: Cepsa, Repsol QatarEnergy (€0.6bn) Track: e-fuels, … + project in Middle East (LOI received) > €6bn and Atlas Agro (approx. €0.1bn) Other: FEE
Slide 6: MERAM for Adnoc
MERAM for Adnoc Project awarded to the JV Técnicas Reunidas-NPCC, 50% for TR, focused on the recovery of ethane from residue gas Total EPC investment of $3.6 billion (TR’s scope amounts $1.8 billion) EPC to develop the TR’s backlog de-risking strategy: partnership with NPCC, a local company Maximiz
Slide 7: Balance of Plant for QatarEnergy
Balance of Plant for QatarEnergy Development of facilities to connect the southern and northern parts of Ras Laffan Industrial City to new LNG storage tanks It represents the fourth award from QatarEnergy to TR in the last 24 months Total value of the work is more than $560 million EPC for additiona
Slide 8: Other awards
Other awards FEED for QAPCO Combined cycle for RWE (Qatar Petrochemical Company) FEED for a PDH-PP project at Ras Development of a hydrogen-ready Laffan Industrial City in Qatar combined cycle power plant in Germany TR’s backlog de-risking strategy: TR’s backlog de-risking strategy: FEED development
Slide 9: The supercycle continues: €30bn bids will be submitted in 2024
The supercycle continues: €30bn bids will be submitted in 2024 Total bids in Total bids in Natural Gas 2023 2024 ▪ Gas processing €26.2bn €15bn ▪ Plant expansion ▪ Power generation Petchem and refining ▪ Fertilizers ▪ Olefins & aromatics €6.3bn €8bn ▪ Refining integration Low carbon technologies ▪ H
Slide 10: Index
Index 1 Q3 2023 main achievements 1.1 Awards: Natural Gas & Petchem 1.2 Strategic Agrement TR - Sinopec 1.3 Track 2 9M 2023 results 3 Guidance 10
Slide 11: Key Strategic Agreement signed with SINOPEC
Key Strategic Agreement signed with SINOPEC Key partnership with one of the major EPC players in the industry TR & SINOPEC will jointly bid in more than 20 identified future projects Strong synergy between SINOPEC’s renowned resources and TR’s EPC expertise TR´s response to the sector´s resources bo
Slide 12: Index
Index 1 Q3 2023 main achievements 1.1 Awards: Natural Gas & Petchem 1.2 Strategic Agrement TR - Sinopec 1.3 Track 2 9M 2023 results 3 Guidance 12
Slide 13: TRACK: We have accomplished our 2023 targets
TRACK: We have accomplished our 2023 targets Awards and pipeline New platforms New industries New services 13
Slide 14: TRACK: We have accomplished our 2023 targets
TRACK: We have accomplished our 2023 targets Awards and pipeline New platforms >EUR300m service contract awards EUR7bn bids for 2024 New industries New services 14
Slide 15: TRACK: We have accomplished our 2023 targets
TRACK: We have accomplished our 2023 targets Awards and pipeline New platforms >EUR300m service US new team established contract awards Eastern Europe - IFC agreement EUR7bn bids for 2024 New industries New services 15
Slide 16: TRACK: We have accomplished our 2023 targets
TRACK: We have accomplished our 2023 targets Awards and pipeline New platforms >EUR300m service US new team established contract awards Eastern Europe - IFC agreement EUR7bn bids for 2024 New industries New services Steel • Advanced conversations for partnering with reference licensors Cement • Adva
Slide 17: TRACK: We have accomplished our 2023 targets
TRACK: We have accomplished our 2023 targets Awards and pipeline New platforms >EUR300m service US new team established contract awards Eastern Europe - IFC agreement EUR7bn bids for 2024 New industries New services Steel Project development • Advanced conversations for • EUR0.9bn in self-sourced pr
Slide 18: TRACK awards
TRACK awards EPC for E-FUELS Engineering services for undisclosed client for undisclosed client EPC for the E-FUELS (power to liquids) Basic & Detail Engineering of 2 green demo unit in Spain ammonia projects at the 2 different complexes Contract includes supply, assembly, pre- commissioning, commis
Slide 19: Index
Index 1 Q3 2023 main achievements 1.1 Awards: Natural Gas & Petchem 1.2 Strategic Agrement TR - Sinopec 1.3 Track 2 9M 2023 results 3 Guidance 19
Slide 20: 9M 2023 results: EBIT margin evolution
9M 2023 results EBIT margin evolution 3.7% 4.0% 3.5% 2.3% 2.7% 1.8%* 9M 2023 0.9% Sales €3,246m EBIT €120m -7.2% Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Net cash position(1) €234m Solid projects delivery Steady improvement of margins (1) Includes €175m of PPL (Profit Participating Lo
Slide 21: 9M 2023 results: Net cash evolution
9M 2023 results Net cash evolution €M 241* 234 158 142 134 104 9M 2023 61* Sales €3,246m EBIT €120m -76 FY 2021 Q1 2022 Q2 2022 Q3 2022 FY 2022 Q1 2023 Q2 2023 Q3 2023 Net cash position(1) €234m Healthy cash position Downpayments of new awards not included yet Cash consumption due to projects delive
Slide 22: Index
Index 1 Q3 2023 main achievements 1.1 Awards: Natural Gas & Petchem 1.2 Strategic Agrement TR - Sinopec 1.3 Track 2 9M 2023 results 3 Guidance 22
Slide 23: 2023 updated guidance
2023 updated guidance €5bn+ €4bn 4% AWARDS SALES EBIT MARGIN H1: 3.6% €6bn+ €4bn+ H2: 4.0%+ 23
Slide 24: Slide 24
Slide 25: Disclaimer
Disclaimer This document has been prepared by Técnicas Reunidas S.A. (the “Company”) solely for use at presentations held in connection with the announcement of the Company’s results. This document contains forward-looking statements of the Company and/or its management. These forward-looking statem
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