Tecnicas Reunidas Sa · BME:TRE
Tecnicas Reunidas Sa — Tecnicas Reunidas Sa Ord — H1 2023 Earnings Presentation
20 slides from Tecnicas Reunidas Sa's earnings presentation, Jul 28, 2023
Slide 1: H1 2023 Results
H1 2023 Results July 28th 2023 Juan Lladó – Executive Chairman Eduardo San Miguel - CEO
Slide 2: Index
Index 1 Commercial activity update 2 Track 3 Business update 4 H1 2023 results 5 Guidance 2
Slide 3: Index: Commercial activity update
Index 1 Commercial activity update 2 Track 3 Business update 4 H1 2023 results 5 Guidance Juan Lladó – Executive Chairman 3
Slide 4: We have been selective and we have been selected
Commercial activity update We have been selective and we have been selected Total pipeline Q2 2023-Q2 2025 Total bids to be Bids already submitted in 2023 submitted* Natural Gas ▪ Gas processing Selected as ▪ Plant expansion ▪ Power generation €21bn €13bn €9bn preferred bidder in Petchem and refinin
Slide 5: More than €5bn of new awards expected for 2023
Commercial activity update More than 5 billion euros expected of new awards for 2023 YTD Selected as preferred Well-placed 2023 awards bidder in in awards €1.8bn + €1.9bn + >€2bn = €5bn+ Kazazot (€1.2bn) Hanseatic (€0.5bn) Track: Cepsa, Repsol and Atlas Agro (approx. €0.1bn) 5
Slide 6: Index: Track
Index 1 Commercial activity update 2 Track 3 Business update 4 H1 2023 results 5 Guidance Juan Lladó – Executive Chairman 6
Slide 7: Track: Determined steps in low carbon technologies
Track Determined steps in low carbon technologies FEED OBE for a zero-carbon fertilizer plant EPCm for second-generation biofuels plant EPm for electrification of 2 industrial complexes MoU to develop low carbon technologies projects New US office opening for project development Engineering services
Slide 8: Track: Determined steps in low carbon technologies
Track Determined steps in low carbon technologies FEED OBE for a zero-carbon fertilizer plant EPCm for second-generation biofuels plant EPm for electrification of 2 industrial complexes MoU to develop low carbon technologies projects New US office opening for project development Engineering services
Slide 9: Index: Business update
Index 1 Commercial activity update 2 Track 3 Business update 4 H1 2023 results 5 Guidance Eduardo San Miguel – CEO 9
Slide 10: Business update: Main operational milestones of backlog
Business update Main operational milestones of TR’s current backlog ADGAS Natural Gas • Engineering and Procurement completed • Modules load out completed #ADNOC #ADNOC Petrochemicals Olefins Project • Wash tower transport completed • Heavylifting erection campaign 10
Slide 11: Business update: Main operational milestones of backlog
Business update Main operational milestones of TR’s current backlog Duqm Refinery • Operations already started • Ramping up to full capacity Refining Crisp Refinery • Continuing progress on shipments from module fabrication yards • Project reactors installation completed 11
Slide 12: TR's worldwide workforce evolution
Business update TR’s worldwide workforce evolution We are ready to address the large investment supercycle Madrid technology hub and the different operational centers (Middle East, India, Chile,…) increase its workforce: +15% YoY since June 2022 (to approx. 8,700) 12
Slide 13: Index: H1 2023 results
Index 1 Commercial activity update 2 Track 3 Business update 4 H1 2023 results 5 Guidance Eduardo San Miguel – CEO 13
Slide 14: H1 2023 results: EBIT margin evolution
H1 2023 results EBIT margin evolution H1 2023 3.5% 3.7% Sales €2,172m 2.3% 2.7% 1.8%* 0.9% EBIT €77m Net cash position(1) €241m -7.2% Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 (1) Includes €175m of PPL (Profit Participating Loan) * Excluding one-off effects 14
Slide 15: H1 2023 results: Net cash evolution
H1 2023 results Net cash evolution €M 241* 158 142 134 104 H1 2023 61* Sales €2,172m EBIT €77m -76 FY 2021 Q1 2022 Q2 2022 Q3 2022 FY 2022 Q1 2023 Q2 2023 Net cash position(1) €241m Solid cash position after successful capital increase €48m debt repayment during Q2 2023 (1) Includes €175m of PPL (Pr
Slide 16: Index: Guidance
Index 1 Commercial activity update 2 Track 3 Business update 4 H1 2023 results 5 Guidance Juan Lladó – Executive Chairman 16
Slide 17: 2023 Guidance
2023 Guidance €5bn+ €4bn 4% AWARDS SALES EBIT MARGIN 17
Slide 18: Slide 18
Slide 19: 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
Slide 20: Track: Agreement with IFC
Track: Agreement with IFC Building platforms for growth in low carbon technologies in Europe IFC local office Initial geographic scope Partnership scope Co-development of low carbon technologies projects in Eastern European countries Geographic scope: +10 countries in Eastern Europe; initial focus o
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