Technip Energies Nv · EURONEXT:TE
Technip Energies Nv — H1 2024 Earnings Presentation
36 slides from Technip Energies Nv's earnings presentation, Aug 1, 2024
Slide 1: Securing Leadership in a high demand market - H1 2024 Results
Securing Leadership in a high demand market H1 2024 Results
Slide 2: Forward looking statements
Forward looking statements This presentation contains forward-looking statements that reflect Technip Energies’ (the “Company”) intentions, beliefs or current expectations and projections about the Company's future results of operations, anticipated revenues, earnings, cashflows, financial condition
Slide 3: Welcome
Welcome Business highlights Arnaud Pieton CEO Bruno Vibert Financial highlights CFO Technip Energies – H1 2024 Results 3
Slide 4: Business highlights
Business highlights Arnaud Pieton - CEO Technip Energies – H1 2024 Results 4
Slide 5: H1 2024 – Key highlights
H1 2024 – Key highlights Solid H1 performance with strong order momentum, well on track to deliver FY guidance € 3.2bn € 1.04 Strong H1 operational performance with Revenue Diluted EPS1 50% Y/Y growth in net earnings H1 2023: € 2.8bn H1 2023: € 0.70 € 17.0bn Backlog Leading in low-carbon Double digi
Slide 6: Q2 2024 operational highlights
Q2 2024 operational highlights Delivering across the portfolio Project Delivery TPS NFE Midor Neste Rotterdam LNG Downstream Sustainable fuels • Qatar NFE: >50% construction progress for • Midor Refinery Expansion: Refinery • Neste Renewable Products Rotterdam: first train, first systems energized r
Slide 7: Q2 2024 key award highlights
Q2 2024 key award highlights Low-carbon LNG project awards and sustained momentum in TPS Ruwais LNG, Abu Dhabi Marsa LNG, Oman Project €2.7bn Leveraging our low- carbon and electrified • Two train development, 9.6Mtpa capacity • 1Mtpa capacity plant; powering production with solar Q2 2024 Delivery o
Slide 8: Innovation, investments and partnerships
Innovation, investments and partnerships Enabling cleantech solutions – fuelling TPS growth Product launches Technology investment Joining forces Clear100+ by Technology transfer from Shell for a Floating Offshore Wind JV green polyester • A configurable, productized 100MW • A pure player delivery p
Slide 9: Financial highlights
Financial highlights Bruno Vibert - CFO Technip Energies – H1 2024 Results 9
Slide 10: Solid H1 2024 performance
Solid H1 2024 performance € 3.2bn € 227m € 188m Revenue Recurring EBIT Net profit H1 2023: € 2.8bn H1 2023: € 208m H1 2023: € 125m H1 2024 financial highlights € 4.0bn € 241m € 2.6bn Order intake Free cash flow, ex W.cap1 Net cash H1 2023: € 9.0bn H1 2023: € 179m FY 2023: € 2.8bn Financial informati
Slide 11: Project Delivery
Project Delivery Revenue growth; backlog provides multi-year visibility Revenue Recurring EBIT Backlog in € million in € million in € million • Revenue: growth Y/Y driven by LNG + 16% + 8% + 8% projects in Qatar ramping up. • Recurring EBIT %: reflects re-balancing of 15,005 portfolio and early-phas
Slide 12: Technology, Products & Services
Technology, Products & Services Continued business momentum Revenue Recurring EBIT Backlog in € million in € million in € million +X% • Revenue: Growth driven by ethylene proprietary equipment, sustainable fuels + 3% Stable + 6% and circularity services. • Recurring EBIT %: Higher gross margin Y/Y o
Slide 13: Other key metrics and balance sheet
Other key metrics and balance sheet Corporate costs € 22.4 million Trending lower versus 2023 run-rate. Income Statement Net financial income € 57.6 million Materially up Y/Y – growth in cash investments. Effective tax rate 28.5% In line with FY guidance. Cash € 3.3 billion Strong position, signific
Slide 14: Consistent underlying free cash flow generation
Consistent underlying free cash flow generation Cash flow bridge € million • Operating cash flow: €(65)m; Free cash flow1: €(94)m, impacted by €335m working capital outflow. • Contribution from Q2 LNG awards expected in H2 2024 • Free cash flow, excluding working capital impact: €241m. • Free cash c
Slide 15: Outlook
Outlook Arnaud Pieton - CEO Technip Energies – H1 2024 Results 15
Slide 16: Natural gas – a long-term opportunity for T.EN
Natural gas – a long-term opportunity for T.EN An important role to play in securing a low-carbon world LNG T.EN differentiation Market trends Commercial pipeline1 • LNG leader: • Low-to-zero carbon plants >60Mtpa • >110Mtpa delivered, >20% market share • Brownfield decarbonization >€30bn and debott
Slide 17: Reju: a T.EN regeneration company
Reju: a T.EN regeneration company Accelerating the transition to a circular polyester system The reality1 The business foundations • Rapid technology development to full-scale demonstration plant of fibers globally (incl > 50% textiles) are made from PET2 (plastic) • Creating full ecosystem: securin
Slide 18: Securing - Key takeaways
KEY TAKEAWAYS Solid H1 performance; well on track to deliver FY guidance Securing Order momentum and strong commercial pipeline underpins growth trajectory Future market leadership through innovation, targeted investments and strategic partnerships Technip Energies – H1 2024 Results 18
Slide 19: Q&A
Q&A Technip Energies – H1 2024 Results 19
Slide 20: Appendix
Option 2 Appendix Technip Energies – H1 2024 Results 20
Slide 21: Capital Markets Day - Save the date
SAVE THE DATE Capital Markets Day November 21st 2024, London
Slide 22: Backlog schedule
Backlog schedule Total €16,952m adjusted backlog 2024 (6M) 2025 €3,024m €4,853m 2026+ €9,075m Adjusted backlog at June 30, 2024, has been impacted positively by foreign exchange of €164.9 million. Technip Energies – H1 2024 Results 22
Slide 23: Company guidance for 2024
Company guidance for 2024 Effective Revenue EBIT margin tax rate €6.1 - 6.6bn 7.0% - 7.5% 26% - 30% 1 EPS : double-digit growth Financial information is presented under adjusted IFRS (see Appendix 8.0 of H1 2024 Results Release). Reconciliation of IFRS to non-IFRS financial measures are provided in
Slide 24: Adjusted statements of income – H1 2024
Adjusted statements of income – H1 2024 Financial information is presented under adjusted IFRS (see Appendix 8.0 of H1 2024 Results Release). Reconciliation of IFRS to non-IFRS financial measures are provided in appendices. Technip Energies – H1 2024 Results 24
Slide 25: Adjusted statements of income – Q2 2024
Adjusted statements of income – Q2 2024 Financial information is presented under adjusted IFRS (see Appendix 8.0 of H1 2024 Results Release). Reconciliation of IFRS to non-IFRS financial measures are provided in appendices. Technip Energies – H1 2024 Results 25
Slide 26: Adjusted statements of income – IFRS reconciliation H1 2024
Adjusted statements of income Reconciliation between IFRS and Adjusted – H1 2024 Financial information is presented under adjusted IFRS (see Appendix 8.0 of H1 2024 Results Release). Reconciliation of IFRS to non-IFRS financial measures are provided in appendices. Technip Energies – H1 2024 Results
Slide 27: Adjusted statements of income – IFRS reconciliation H1 2023
Adjusted statements of income Reconciliation between IFRS and Adjusted – H1 2023 Financial information is presented under adjusted IFRS (see Appendix 8.0 of H1 2024 Results Release). Reconciliation of IFRS to non-IFRS financial measures are provided in appendices. Technip Energies – H1 2024 Results
Slide 28: Adjusted statements of income – IFRS reconciliation Q2 2024
Adjusted statements of income Reconciliation between IFRS and Adjusted – Q2 2024 Financial information is presented under adjusted IFRS (see Appendix 8.0 of H1 2024 Results Release). Reconciliation of IFRS to non-IFRS financial measures are provided in appendices. Technip Energies – H1 2024 Results
Slide 29: Adjusted statements of income – IFRS reconciliation Q2 2023
Adjusted statements of income Reconciliation between IFRS and Adjusted – Q2 2023 Financial information is presented under adjusted IFRS (see Appendix 8.0 of H1 2024 Results Release). Reconciliation of IFRS to non-IFRS financial measures are provided in appendices. Technip Energies – H1 2024 Results
Slide 30: Adjusted statements of financial position
Adjusted statements of financial position Financial information is presented under adjusted IFRS (see Appendix 8.0 of H1 2024 Results Release). Reconciliation of IFRS to non-IFRS financial measures are provided in appendices. Technip Energies – H1 2024 Results 30
Slide 31: Adjusted statements of cashflows
Adjusted statements of cashflows Financial information is presented under adjusted IFRS (see Appendix 8.0 of H1 2024 Results Release). Reconciliation of IFRS to non-IFRS financial measures are provided in appendices. Technip Energies – H1 2024 Results 31
Slide 32: Differentiated capital structure
Differentiated capital structure Net liquidity, June 30, 2024 Net cash, June 30, 2024 € million € million 80 192 Commercial Paper & Others 750 597 the Notes1 4,014 3,344 3,344 2,555 Cash RCF Outstanding Liquidity Cash Gross debt Net cash commercial paper • Robust liquidity position comprised of ~€3.
Slide 33: Stock information and ADR
Stock information and ADR Stock ADR program Listed on Euronext Paris / SBF 120 index Ticker code: TE / ISIN code: NL0014559478 Exchange: Over-the-Counter Free float: 133.9 million / Outstanding shares: 181.6 million Ratio: 1 ADR : 1 ORD Market Cap on June 30, 2024: €4.2 billion Share price € Volume
Slide 34: Technip Energies upcoming investor events
Technip Energies upcoming investor events Opportunities to interact with company management and investor relations Sep 10, 2024 Sep 12, 2024 Sep 18-19, 2024 Oct 31, 2024 Nov 21, 2024 Morgan Stanley European Energy Summit, Kepler Cheuvreux Autumn Conference, US Roadshow Q3 2024 Results CMD (London) (
Slide 35: A diversified shareholder structure
A diversified shareholder structure Equity Split Institutional Investors As a % of Shares Outstanding Regional split Retail Rest of World 4.9% Other incl. hedge funds 5.2% Institutional 7.7% Europe (long only) 13.4% 29.6% T.EN treasury 2.1% France 58.1% Strategic 26.2% shareholders1 UK & 26.9% Irela
Slide 36: Investor Relations
Investor Relations Phillip Lindsay Vice President, Investor Relations Tel: +44 20 7585 5051 phillip.lindsay@ten.com Investor Relations Corentin Cargouët Manager, Investor Relations Tel: +33 6 71 21 12 45 corentin.cargouet@ten.com