Tecnicas Reunidas Sa · BME:TRE
Tecnicas Reunidas Sa — Tecnicas Reunidas Sa Ord — H1 2026 Earnings Presentation
19 slides from Tecnicas Reunidas Sa's earnings presentation, Jul 30, 2026
Slide 1: H1 2026 Results
H1 2026 July 30 , 2026 th Results Juan Lladó – Executive Chairman Eduardo San Miguel – CEO
Slide 2: Agenda
AGENDA 1 | H1 2026 Highlights 2 | Awards 3 | TR Power 4 | North America 5 | Services and Digitalization, AI & Robotics 6 | Financial Results 7 | Final Remarks
Slide 3: Agenda
AGENDA 1 | H1 2026 Highlights 2 | Awards 3 | TR Power 4 | North America 5 | Services and Digitalization, AI & Robotics 6 | Financial Results 7 | Final Remarks
Slide 4: H1 2026 Highlights
H1 2026 Highlights in M€ 1Q 26 2Q 26 1H 25 1H 26 Sales 1,582 1,478 2,744 3,061 Middle East: moving towards normalized project execution EBIT 31 73 120 104 Unchanged and on-time client payments Provision 45 0 0 45 Robust order intake performance (6 B€ YTD) and high visibility on forecasted awards for
Slide 5: Awards
AGENDA 1 | H1 2026 Highlights 2 | Awards 3 | TR Power 4 | North America 5 | Services and Digitalization, AI & Robotics 6 | Financial Results 7 | Final Remarks
Slide 6: Oilfield Project +5 B€
Awards Largest award in TR’s history Oilfield project +5 B€ • Largest award in TR’s history • TR as sole contractor • World’s second largest offshore oil field • Shareholders: ADNOC and Exxon • Letter of Award signed and project kick-off meeting celebrated July 1st • 2 packages totaling +5 B€ H1 202
Slide 7: 570 M€ Greenlight
Awards First step in TR’s Hyperscaler Data Center strategy Greenlight 570 M€ • TR’s first project within its strategy to penetrate Data Center market for Hyperscalers • Electricity generated will be used to energize META Data Centers in Canada • Shareholders: Pembina, Morgan Stanley Infrastructure P
Slide 8: TR Power
AGENDA 1 | H1 2026 Highlights 2 | Awards 3 | TR Power 4 | North America 5 | Services and Digitalization, AI & Robotics 6 | Financial Results 7 | Final Remarks
Slide 9: TR Power
TR Power Strong visibility 2.2 B€ Backlog as of June TR Power spin-off completed Power Project in UAE 1.1 B€* Executing early works Final Notice To Proceed expected by October Aim to double Power workforce by year end ~1.5 B€* CCGTs for RWE Expected for late 2026 *Not included in the backlog H1 2026
Slide 10: North America
AGENDA 1 | H1 2026 Highlights 2 | Awards 3 | TR Power 4 | North America 5 | Services and Digitalization, AI & Robotics 6 | Financial Results 7 | Final Remarks
Slide 11: North America
North America Feasibilities, Feasibilities, Pre-FEEDs and FEEDs Pre-FEEDs and FEEDs EPmCm 70 M€ 52 M€ >200 M€ FY 2025 2026 YTD by year-end Current services contracts under execution could translate into 8 B€ EPCm projects in 2027-28 Strong relationships with US clients increase future opportunities
Slide 12: Services and Digitalization, AI & Robotics
AGENDA 1 | H1 2026 Highlights 2 | Awards 3 | TR Power 4 | North America 5 | Services and Digitalization, AI & Robotics 6 | Financial Results 7 | Final Remarks
Slide 13: Focus on Profitability and Efficiency
Services and Digitalization, AI & Robotics Services Digitalization, AI & Robotics ~375 M€ 500 M€ ~30% gross +400 FTE 40M€ revenues margin digital awards in 2028 target range investment team by 2026 for 2026 confirmed maintained year-end Focus on profitability and efficiency H1 2026 Results 13
Slide 14: Financial Results
AGENDA 1 | H1 2026 Highlights 2 | Awards 3 | TR Power 4 | North America 5 | Services and Digitalization, AI & Robotics 6 | Financial Results 7 | Final Remarks
Slide 15: Sustained profitability growth
Financial Results Sustained profitability growth EBIT margin 4.6% 4.8%* 5.0% 4.3% 4.5% 4.5% Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 *Refers to Underlying EBIT H1 2026 Results 15
Slide 16: Balance Sheet
Financial Results Balance Sheet Net cash position* Equity* (M€) (M€) 175 175 564 622 219 332 344 400 2024 2025 H1 2026 2024 2025 H1 2026 Net cash SEPI PPL Equity SEPI PPL *SEPI PPL included H1 2026 Results 16
Slide 17: Final Remarks
AGENDA 1 | H1 2026 Highlights 2 | Awards 3 | TR Power 4 | North America 5 | Services and Digitalization, AI & Robotics 6 | Financial Results 7 | Final Remarks
Slide 18: 2026 Guidance
Final Remarks 2026 Guidance Revenues >6.5 B€ • 6 B€ YTD order intake • +8 B€ forecasted awards for 2026; ~375 M€ in services Underlying EBIT >325 M€ • Middle East: moving towards normalized project Underlying EBIT margin >5% execution EBIT ~280 M€ • Focus on profitability and efficiency: Services an
Slide 19: Tecnicas Reunidas
vy TECNICAS REUNIDAS
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