Tecnicas Reunidas SA · BME:TRE
Tecnicas Reunidas SA — 9M 2009 Earnings Presentation
18 slides from Tecnicas Reunidas SA's earnings presentation, Nov 13, 2009
Slide 1: Nine Month 2009 Results
TECNICAS REUNIDAS Juan Lladó CEO Nine Month 2009 Results November 13th, 2009
Slide 2: Index
INDEX TECNICAS REUNIDAS ¾ BACKLOG & EXECUTION ¾ 9M 2009 FINANCIAL RESULTS ¾ OUTLOOK 1
Slide 3: 9M 2009 Awards & Backlog
9M 2009 AWARDS & BACKLOG Awards Backlog €m 4,500 6,000 4,000 3,582 4,713 4,923 4,711 5,000 3,500 3,000 2,621 4,000 2,207 3,040 2,500 2,048 3,000 2,000 1,500 2,000 1,000 1,000 500 0 0 2006 2007 2008 9M 09 2006 2007 2008 9M 09 Oil and gas Power 2
Slide 4: Recent Awards
RECENT AWARDS Modernization of Mohammedia Refinery, Morocco Highlights ¾ EPC contract for revamping of the Mohammedia refinery (Morocco) ¾ Project includes: Crude distillation unit (process capacity: 4 Mt/y), Kerosene treatment unit and LGP Merox unit ¾ Estimated delivery: March 2012 ¾ Promoted by S
Slide 5: Project Execution: Focus on Projects > USD 1 bn
PROJECT EXECUTION: FOCUS ON PROJECTS > USD 1 BN SINES SAS CARTAGENA JUBAIL BOROUGE KAYAN Oil and gas Power I&I 4
Slide 6: Execution of Major Projects: Kayan, SABIC, Saudi Arabia
EXECUTION OF MAJOR PROJECTS KAYAN, SABIC, SAUDI ARABIA • EPC – LSTK: Phenolics complex • Construction phase: close to completion • Equipment delivered on site • 6,594 people currently working on the project 5
Slide 7: Execution of Major Projects: Borouge, ADNOC, UAE
EXECUTION OF MAJOR PROJECTS BOROUGE, ADNOC, UAE • EPC – LSTK: Utilities, offsites and external interconnecting project • Advanced construction phase • Equipment delivered on site • 7,740 people currently working on the project 6
Slide 8: Execution of Major Projects: Cartagena, Repsol, Spain
EXECUTION OF MAJOR PROJECTS CARTAGENA, REPSOL, SPAIN • EPC – LSTK: Distillation, hydrocraker and hydro- desulphurisation units • Construction phase • Receiving equipment on site • Starting mechanical erection • 1,019 people currently working on the project 7
Slide 9: Execution of Major Projects: Sines, Galp, Portugal
EXECUTION OF MAJOR PROJECTS SINES, GALP, PORTUGAL • Expected conversion from OBE to LSTK before year end • Units: Hydrocraker, steam reformer, topping, vacuum destilation and Piping visbreaking • Construction in progress • Start of delivery of equipment on site • 681 people working on the project Hy
Slide 10: Index
TECNICAS REUNIDAS ¾ BACKLOG & EXECUTION ¾ 9M 2009 FINANCIAL RESULTS ¾ OUTLOOK 9
Slide 11: Sales and EBITDA Growth
SALES AND EBITDA GROWTH SALES EBITDA €m €m 148 3,000 2,479 +7% 160 +8% 2,500 2,005 140 113 114 1,916 106 1,792 120 2,000 100 1,500 80 60 1,000 40 500 20 0 0 2007 2008 9M 08 9M 09 2007 2008 9M 08 9M 09 10
Slide 12: Margin Sustainability
MARGIN SUSTAINABILITY EBITDA MARGIN EBIT MARGIN % % 7.0% 5.7% 5.9% 5.9% 7.0% 5.7% 5.7% 5.4% 5.4% 5.1% 6.0% 6.0% 5.0% 5.0% 4.0% 4.0% 3.0% 3.0% 2.0% 2.0% 1.0% 1.0% 0.0% 0.0% 2006 2007 9M 08 9M 09 2006 2007 9M 08 9M 09 11
Slide 13: Financial Results
FINANCIAL RESULTS Profit and Loss Account € million 9M 09 9M 08 Var. 2008 Revenues 1,915.9 1,791.5 6.9% 2,478.5 EBITDA 113.8 105.5 7.9% 148.3 Margin 5.9% 5.9% 6.0% EBIT 108.4 101.3 7.1% 142.3 Margin 5.7% 5.7% 5.7% Net Financial Results 6.0 11.6 4.7 Profit before Taxes 114.6 113.2 1.2% 147.5 Taxes -1
Slide 14: Net Cash Position and Dividend Policy
NET CASH POSITION AND DIVIDEND POLICY ¾ Net cash position at September 30th, 2009: € 744 million ¾ 2008 Dividend payment: € 1.29 per share (€ 70.1 million, 50% payout) DPS progression Net Cash Position €/Share €m 1.5 +33% 900 1.3 1.1 0.65 600 0.9 0.52 744 0.7 575 0.34 300 422 0.5 0.45 0.64 0.3 0.30
Slide 15: Index
TECNICAS REUNIDAS ¾ BACKLOG & EXECUTION ¾ 9M 2009 FINANCIAL RESULTS ¾ OUTLOOK 14
Slide 16: Outlook
OUTLOOK ¾ Busy bidding schedule ¾ Geographical and sectorial diversification ¾ Right balance between competitiveness and margins 15
Slide 17: Disclaimer
Disclaimer This document has been prepared by Tecnicas Reunidas S.A. (the Company) solely for use at presentations held in connection with the announcement of the Company's results for the nine months of 2009. This document contains forward-looking statements of the Company and/or its management. Th
Slide 18: Tecnicas Reunidas
TECNICAS REUNIDAS