Tecnicas Reunidas Sa · BME:TRE
Tecnicas Reunidas Sa — Q1 2018 Earnings Presentation
12 slides from Tecnicas Reunidas Sa's earnings presentation, May 14, 2018
Slide 1: First Quarter 2018 Results Presentation
FIRST QUARTER 2018 RESULTS PRESENTATION May 14th 2018 Juan Lladó CEO 1
Slide 2: 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 for the first quarter 2018. This document contains forward-looking statements of the Company and/or its management. The
Slide 3: Awards
AWARDS RESULTS 1Q 2018 Bn€ 1Q 2018 Bapco: EPC for the modernization of the Sitra refinery Other recent jobs FEED for GazpromNeft Refinery of Moscow FEED and feasibility study for “Jordan Petroleum Refinery Company” for the upgrade and expansion of the Al-Zarqa refinery, in Jordan 3.3 4.5 6.7 2.9 4.6
Slide 4: 2018 Extraordinary Project Launch
2018 EXTRAORDINARY PROJECT LAUNCH RESULTS 1Q 2018 Project launch by quarter €5.3 Bn in Six months € 2.5 Bn in two years Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2016 2017 2018 4
Slide 5: Backlog
BACKLOG RESULTS 1Q 2018 Bn€ 6.4 8.4 12.1 10.6 9.9 9.7 Backlog replaced: In volume With world-class projects 2013 2014 2015 2016 2017 1Q 2018 5
Slide 6: Backlog Geographical Split
BACKLOG GEOGRAPHICAL SPLIT RESULTS 1Q 2018 20% 21% Strong presence in most resilient 2013 € 6.4 Bn market: Middle East 25% 2% 34% Recurrent customers: a 13% consequence of good execution 10% 1Q 2018 Key and more complex jobs in Backlog each major investment €9.7Bn 74% 6 Middle East Europe Latam RoW
Slide 7: Active and Diversified Pipeline
ACTIVE AND DIVERSIFIED PIPELINE RESULTS 1Q 2018 Strong bidding pipeline, with more diversified opportunities by industries and regions Middle East As of 44% 56% 1Q18 RoW 7
Slide 8: Financial Results
FINANCIAL RESULTS RESULTS 1Q 2018 PROFIT AND LOSS € Million 1Q 2018 1Q 2017 Var. 2017 Impacts in margins: Revenues 1,161 1,388 -16% 5,068 Lower resources utilisation EBITDA 9.1 60.7 -85% 121.9 from delays and cancellations EBIT 4.1 55.5 -91% 100.4 Margin 0.4% 4.0% 2.0% Difficulties on the recovery o
Slide 9: Net Cash Position
NET CASH POSITION RESULTS 1Q 2018 M€ Oil Crisis effects on cash: Peak exposure to the Middle 488 East, with higher needs of 413 working capital Customers cash constraints Lower downpayments 225 218 231 219 TR customers are among the largest and most reliable 2016 1Q2017 2Q 2017 3Q 2017 2017 1Q 2018
Slide 10: Dividends
DIVIDENDS RESULTS 1Q 2018 TR committed to shareholders remuneration: From the IPO: stated dividend policy of 50% pay – out 2006-2017 Average pay –out of 59% Difficult crisis scenario: Need to balance shareholders remuneration commitment with strong balance sheet to support growth 10
Slide 11: Guidance and Outlook
GUIDANCE AND OUTLOOK RESULTS 1Q 2018 Guidance for 2018: Sales: € 4.3 bn - € 4.6 bn EBIT margin: 1.5% - 2.5%, progressive improvement along 2018 Commitment to shareholder remuneration Slow but solid Almost € 4 bn Projects already launched in 2018 and awaiting for another €1,7bn Early engagement in ne
Slide 12: Tecnicas Reunidas
fi TECNICAS REUNIDAS