Tecnicas Reunidas Sa · BME:TRE
Tecnicas Reunidas Sa — 9M 2018 Earnings Presentation
19 slides from Tecnicas Reunidas Sa's earnings presentation, Nov 13, 2018
Slide 1: Nine Months 2018 Results Presentation
NINE MONTHS 2018 RESULTS PRESENTATION NOVEMBER 13TH 2018 JUAN LLADÓ CEO
Slide 2: TR has a strong franchise. We are about…
TR HAS A STRONG FRANCHISE. WE ARE ABOUT… Results 9M 2018 QUALITY EXECUTION QUALITY BACKLOG QUALITY PIPELINE Delivering Fresh and healthy The recovery of strategic projects backlog, entirely the investment in for recurrent launched our industry is a clients reality 2
Slide 3: Content
CONTENT Results 9M 2018 Execution Awards and backlog Pipeline Financial Results Outlook 3
Slide 4: We are at the final stages of emblematic projects for our clients
WE ARE AT THE FINAL STAGES OF EMBLEMATIC PROJECTS FOR OUR CLIENTS Results 9M 2018 RAPID REFINERY MALAYSIA $1.5B JAZAN REFINERY SAUDI ARABIA $2.6B AEGEAN REFINERY TURKEY $1.3B TOUAT GAZ ALGERIA $1.0B GASCO UAE $0.7B 4
Slide 5: At the same time, we are launching emblematic projects
AT THE SAME TIME, WE ARE LAUNCHING EMBLEMATIC PROJECTS Results 9M 2018 HARADH SAUDI ARABIA $2.3B BAKU REFINERY AZERBAIJAN NON DISCLOSED BAPCO REFINERY BAHREIN $1.3B DUQM REFINERY OMAN $1.8B DAS ISLAND/BU HASA UAE $1.9B 5
Slide 6: Content
CONTENT Results 9M 2018 Execution Awards and backlog Pipeline Financial Results Outlook 6
Slide 7: The recent awards are a good indicator of forthcoming projects
THE RECENT AWARDS ARE A GOOD INDICATOR OF FORTHCOMING PROJECTS Results 9M 2018 Gas treatment plant Das Island EPC contract with a total value of USD 860 M (TR’s share 50%) 245 MMSCFD gas treatment plant that will send low pressure gas from Das Island to Habshan Scope: engineering, equipment and mate
Slide 8: The recent awards are a good indicator of forthcoming projects
THE RECENT AWARDS ARE A GOOD INDICATOR OF FORTHCOMING PROJECTS Results 9M 2018 Bu Hasa oil field expansion Letter of Award for the EPC of the Bu Hasa Integrated Field Development Project in the United Arab Emirates LSTK Contract of USD 1,440 M Execution period of 39 months Scope: engineering, equipm
Slide 9: Our backlog gathers projects for prime companies in all geographies
OUR BACKLOG GATHERS PROJECTS FOR PRIME COMPANIES IN ALL GEOGRAPHIES Results 9M 2018 Backlog YTD2018 10% 9% $9.9B 80% Middle East Europe Latam RoW 9
Slide 10: Currently, most of the backlog is at the early stages of execution
CURRENTLY, MOST OF THE BACKLOG IS AT THE EARLY STAGES OF EXECUTION Results 9M 2018 18% 24% 25% 25% 8% 16% 9% 14% Construction 12% Procurement 26% 41% Engineering 66% Non active 48% 34% 25% Typical stages of main projects in the backlog according to 7% their progress at closing date 4Q2017 1Q2018 2Q2
Slide 11: Content
CONTENT Results 9M 2018 Execution Awards and backlog Pipeline Financial Results Outlook 11
Slide 12: Our pipeline increases quarter by quarter
OUR PIPELINE INCREASES QUARTER BY QUARTER Results 9M 2018 Nov “The oil, gas and petrochemical industries will be investing significantly as a result of solid 2017 fundamentals related to faster economic growth and increasing environmental requirements” Identified opportunities to be PIPELINE PROFILE
Slide 13: Content
CONTENT Results 9M 2018 Execution Awards and backlog Pipeline Financial Results Outlook 13
Slide 14: Profit and Loss
PROFIT AND LOSS Results 9M 2018 PROFIT AND LOSS € Million 9M 2018 9M 2017 Var. 2017 Delay in the start of new Revenues 3,255.6 3,882.6 -16% 5,068 projects EBITDA 43.5 104.7 -59% 121.9 Current project phasing EBIT 31.2 87.9 -65% 100.4 Impact of Turkish lira Margin 1.0% 2.3% 2.0% Net financial results
Slide 15: Cash Position
CASH POSITION Results 9M 2018 Net Cash Position 80% of the backlog in Middle East M€ Region with contracts with higher working capital needs, in line with NOCs solvency 231 219 Working capital needs at 207 189 commissioning stage of projects 2017 1Q 2018 2Q 2018 3Q 2018 15
Slide 16: Content
CONTENT Results 9M 2018 Execution Awards and backlog Pipeline Financial Results Outlook 16
Slide 17: Outlook
OUTLOOK Results 9M 2018 Solid execution Credentials for future growth Recent awards already launched The backbone of our future performance Large and diversified pipeline The recovery of the industry is a reality Slow but solid margin recovery 17
Slide 18: 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 nine months 2018. This document contains forward-looking statements of the Company and/or its management. These
Slide 19: Tecnicas Reunidas
A TECNICAS REUNIDAS