Tecnicas Reunidas Sa · BME:TRE
Tecnicas Reunidas Sa — Tecnicas Reunidas Sa Ord — Q1 2023 Earnings Presentation
18 slides from Tecnicas Reunidas Sa's earnings presentation, May 12, 2023
Slide 1: Q1 2023 Results
Q1 2023 Results May 12nd 2023 Juan Lladó – Executive Chairman Eduardo San Miguel - CEO
Slide 2: Index
Index 1 Rights issue summary 2 YTD awards and pipeline 3 Q1 2023 results 4 Guidance 2
Slide 3: Index
Index 1 Rights issue summary 2 YTD awards and pipeline 3 Q1 2023 results 4 Guidance Juan Lladó – Executive Chairman 3
Slide 4: Rights issue summary
Rights issue summary A reinforced balance sheet allows TR to benefit from the supercycle investment Equity overview, M€ 2016-19 average level 175 SEPI PPL Successful completion of the transaction All the major shareholders subscribed 175 150 the capital increase rights issue Equity A stronger balanc
Slide 5: Key highlights of the rationale for the rights issue
Key highlights of the rationale for the rights issue 1 The largest investment wave in energy assets ever seen Why the sector? 2 Scarcity of reliable and proven engineering resources 3 Large pipeline identified and we have the resources Why 4 An ongoing de-risking strategy for building our backlog Té
Slide 6: Index
Index 1 Rights issue summary 2 YTD awards and pipeline 3 Q1 2023 results 4 Guidance Eduardo San Miguel – CEO 6
Slide 7: YTD awards: EPC contract for a large regasification terminal
YTD awards In Natural Gas Project awarded to a JV led by Técnicas Reunidas, with FCC and Entrade Emission free regasification terminal that will contribute to secure Germany’s supply of LNG and green gases TR’s scope: design of the regasification terminal and of the two storage tanks, and supply of
Slide 8: YTD awards: EPCm for the largest 2G biofuels plant in southern Europe
YTD awards In Low carbon technologies Renewable diesel and sustainable aviation fuel production to reduce up to 90% CO2 emissions TR’s will devote a team of 180+ engineers and 500,000 hours Total EPC investment of €1 billion EPCm for the largest 2G biofuels plant in Backlog de-risking: engineering +
Slide 9: YTD awards: EPm for electrification of 2 industrial complexes
YTD awards In Low carbon technologies TR will replace ethylene and propylene compressor turbines with electric motors It will reduce energy consumption and carbon emissions at complexes in Sines (Portugal) and Tarragona (Spain) EPm for electrification of TR’s will devote around 150,000 hours 2 indus
Slide 10: YTD awards: FEED OBE for a zero-carbon fertilizer plant in USA
YTD awards In Low carbon technologies World’s first full scale zero-carbon nitrogen plant TR’s proprietary technology used for the main process units Potential EPC investment of €1 billion FEED OBE for a zero-carbon fertilizer Backlog de-risking: Once FEED completed and after FID, EPC would plant in
Slide 11: Commercial activity
Commercial activity Técnicas Reunidas is currently working on bids for specific projects that amount €70 billion Expected award timeline of identified waves €21bn €39bn +€9bn 2023 2024 2025 Natural Petrochemical Low carbon Gas and refining technologies ▪ Gas processing ▪ Fertilizers ▪ Hydrogen ▪ Pla
Slide 12: Index
Index 1 Rights issue summary 2 YTD awards and pipeline 3 Q1 2023 results 4 Guidance Eduardo San Miguel – CEO 12
Slide 13: Q1 2023 results: EBIT margin evolution
Q1 2023 results EBIT margin evolution Q1 2023 3.5% Sales €1,119m 2.3% 2.7% 1.8%* 0.9% EBIT €39m Net cash position(1) €142m -7.2% Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 (1) Includes €175m of PPL (Profit Participating Loan) * Excluding one-off effects 13
Slide 14: Q1 2023 results: Net cash evolution
Q1 2023 results Net cash evolution Q1 2023 €M 158 142 Sales €1,119m 134 104 61 EBIT €39m Net cash position(1) €142m -76 FY 2021 Q1 2022 H1 2022 9M 2022 FY 2022 Q1 2023 (1) Includes €175m of PPL (Profit Participating Loan) 14
Slide 15: Index
Index 1 Rights issue summary 2 YTD awards and pipeline 3 Q1 2023 results 4 Guidance Juan Lladó – Executive Chairman 15
Slide 16: 2023 Guidance
2023 Guidance €4bn 4% SALES EBIT MARGIN 16
Slide 17: Slide 17
Slide 18: 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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