Technipfmc Plc · NYSE:FTI

Technipfmc — Q1 2023 Earnings Presentation

18 slides from Technipfmc's earnings presentation, Apr 27, 2023

1. Slide 1: Q1 2023 Earnings Presentation

   Q1 2023 Earnings Presentation April 27, 2023

2. 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

3. Slide 3: Operational highlights and financial results

   Operational highlights and financial results

4. Slide 4: Q1 2023 Operational summary

   Q1 2023 Operational summary Highlights  Total Company inbound orders of $2.9 billion; sequential backlog growth of 13% to $10.6 billion  Subsea inbound orders of $2.5 billion; book-to-bill of 1.8  iEPCI™ represented more than 50% of Subsea inbound orders  Solid operational performance drives adj

5. Slide 5: Q1 2023 Financial results

   Q1 2023 Financial results Sequential highlights  Total Company adjusted EBITDA of $155 million, excluding foreign exchange: $2.9B Inbound orders  Subsea largely unchanged due to continued seasonal impact of weather  Surface Technologies decreased primarily due to lower international activity, off

6. Slide 6: Subsea opportunities in the next 24 months

   Subsea opportunities in the next 24 months1 dded E I E I EE E ay Du ord osebank dun u P P aven Sakarya S E Sparta E I E E E Removed aru ly pus E I DSIDE E I E I o o rion on tail a r Essala C PE S D Cluster elidan EPS E E IES P Polok and C in ol lock aven PE S estari E I PE S PE S E I E E IES C u ios

7. 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

8. Slide 8: Q1 2023 Cash flow and net debt

   Q1 2023 Cash flow and net debt (in $ millions) Free cash flow $(444)M Net Debt (In millions, unaudited) (386) March 31, 2023 (57) (50) Cash and cash equivalents $ 522 1,057 (41) Short-term debt and current portion of long-term debt (385) Long-term debt, less current portion (1,006) 522 Net debt $ (8

9. Slide 9: Backlog scheduling provides visibility

   Backlog scheduling provides visibility Subsea1 Surface Technologies as of March 31, 2023 as of March 31, 2023 2025+ $2.2B 2023 $3.3B 2023 $9.4 $1.2 $506M billion 2024+ billion $707M 2024 $3.9B 1 Backlog does not capture all revenue potential for Subsea Services Q1 2023 Earnings Call Presentation | 9

10. Slide 10: Appendix

    Appendix Q1 2023 Earnings Call Presentation | 10

11. 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

12. Slide 12: Reconciliation of GAAP to non-GAAP: charges and credits

    Exhibit 6 TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, unaudited) Charges and Credits In addition to financial results determined in accordance with U.S. generally accepted accounting principles (GAAP), the first quarter 2023 Earnin

13. Slide 13: Reconciliation of GAAP to non-GAAP: three months ended March 31, 2023

    Exhibit 7 TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, unaudited) Three Months Ended March 31, 2023 Foreign Surface Corporate Exchange, net Subsea Technologies Ex pense and Other Total Revenue $ 1,387.6 $ 329.8 $ — $ — $ 1,717.4 Ope

14. Slide 14: Reconciliation of GAAP to non-GAAP: three months ended December 31, 2022

    Exhibit 7 TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, unaudited) Three Months Ended December 31, 2022 Foreign Surface Corporate Exchange, net Subsea Technologies Expense and Other Total Revenue $ 1,342.5 $ 351.9 $ — $ — $ 1,694.4 O

15. Slide 15: Reconciliation of GAAP to non-GAAP: three months ended March 31, 2022

    Exhibit 7 TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, unaudited) Three Months Ended March 31, 2022 Foreign Surface Corporate Exchange, net Subsea Technologies Expense and Other Total Revenue $ 1,289.1 $ 266.7 $ — $ — $ 1,555.8 Oper

16. Slide 16: Reconciliation of GAAP to non-GAAP: net debt

    Exhibit 8 TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, unaudited) March 31, December 31, March 31, 2023 2022 2022 Cash and cash equivalents $ 522.3 $ 1,057.1 $ 1,203.0 Short-term debt and current portion of long-term debt (385.0) (3

17. Slide 17: Reconciliation of GAAP to non-GAAP: free cash flow

    Exhibit 9 TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, unaudited) Three Months Ended March 31, 2023 2022 Cash provided (required) by operating activities from continuing operations $ (386.2) $ (329.4) Capital expenditures (57.3) (27

18. Slide 18: TechnipFMC

    » 3 TechnipFMC

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