Slide 1: Q2 2023 Earnings Presentation
Q2 2023 Earnings Presentation July 27, 2023
Slide 2: Disclaimer
Disclaimer Forward-looking statements This communication contains “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements usually relat
Slide 3: Operational highlights and financial results
Operational highlights and financial results
Slide 4: Q2 2023 Operational summary
Q2 2023 Operational summary Highlights Subsea inbound of $4.1 billion, a book-to-bill of 2.5; Subsea order outlook to now reach $9 billion in 2023 Six iEPCI™ awards in the quarter, including largest iEPCI™ award to-date for Equinor’s BM-C-33 project FEED pipeline continues to expand, with more
Slide 5: Q2 2023 Financial results
Q2 2023 Financial results Sequential highlights $4.4B Total Company adjusted EBITDA of $254 million, excluding foreign exchange: Inbound orders • Subsea increased due to higher project and service activity and improved backlog margin $13.3B • Surface Technologies improved due to higher revenue and
Slide 6: Shareholder distribution update
Shareholder distribution update Takeaways Initiated quarterly cash dividend of $0.05 per share Repurchase authorization increased to $800 million • $200 million of shares repurchased since initial authorization for average price of $11.77 • $600 million available under remaining authorization
Slide 7: Subsea opportunities in the next 24 months
Subsea opportunities in the next 24 months1 EQUINOR Rosebank SHELL PROJECT UPDATES Leopard CHEVRON Aphrodite Added Removed SHELL WOODSIDE EXXONMOBIL Sparta EXXONMOBIL ENERGEAN Browse Phase 1 Uaru Whiptail Olympus ENI Maha EXXONMOBIL EQUINOR WOODSIDE EXXONMOBIL MELLITAH Whiptail BM-C-33 Trion Longtai
Slide 8: 2023 Full-year financial guidance
2023 Full-year financial guidance1 As of February 23, 2023 Subsea Surface Technologies Revenue in a range of $5.9 – 6.3 billion Revenue in a range of $1.3 – 1.45 billion Adjusted EBITDA margin in a range of 12.5 – 13.5% Adjusted EBITDA margin in a range of 12 – 14% TechnipFMC Corporate exp
Slide 9: Q2 2023 Cash flow and net debt
Q2 2023 Cash flow and net debt (in $ millions) Free cash flow $103M Net Debt (53) (In millions, unaudited) 156 (50) June 30, 2023 10 Cash and cash equivalents $ 585 585 Short-term debt and current portion of long-term debt (429) Long-term debt, less current portion (1,000) 522 Net debt $ (844) Cash
Slide 10: Backlog scheduling provides visibility
Backlog scheduling provides visibility Subsea1 Surface Technologies as of June 30, 2023 as of June 30, 2023 2023 $2.4B 2023 2025+ $448M $5.5B $12.1 $1.2 billion 2024+ billion $742M 2024 $4.3B 1 Backlog does not capture all revenue potential for Subsea Services Q2 2023 Earnings Call Presentation | 10
Slide 11: Appendix
Appendix Q2 2023 Earnings Call Presentation | 11
Slide 12: Glossary
Glossary Term Definition Term Definition CAGR Compound Annual Growth Rate iLOF™ Integrated Life of Field CCS Carbon Capture and Storage LNG Liquefied Natural Gas ESG Environmental, Social and Governance MMb/d Million Barrels per Day FID Final Investment Decision Mtpa Million Metric Tonnes per Annum
Slide 13: Reconciliation of GAAP to Non-GAAP Financial Measures
Exhibit 6 TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, unaudited) In addition to financial results determined in accordance with U.S. generally accepted accounting principles (GAAP), the second quarter 2023 Earnings Release also inc
Slide 14: Reconciliation of GAAP to Non-GAAP: Three Months Ended June 30, 2023
Exhibit 8 TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, unaudited) Three Months Ended June 30, 2023 Foreign Surface Corporate Exchange, net and Subsea Technologies Expense Other Total Revenue $ 1,618.4 $ 353.8 $ — $ — $ 1,972.2 Opera
Slide 15: Reconciliation of GAAP to Non-GAAP: Three Months Ended March 31, 2023
Exhibit 8 TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, unaudited) Three Months Ended March 31, 2023 Foreign Surface Corporate Exchange, net Subsea Technologies Expense and Other Total Revenue $ 1,387.6 $ 329.8 $ — $ — $ 1,717.4 Oper
Slide 16: Reconciliation of GAAP to Non-GAAP: Three Months Ended June 30, 2022
Exhibit 8 TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, unaudited) Three Months Ended June 30, 2022 Surface Corporate Foreign Subsea Technologies Expense Exchange, net Total Revenue $ 1,414.6 $ 302.6 $ — $ — $ 1,717.2 Operating profi
Slide 17: Reconciliation of Net Debt
Exhibit 10 TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, unaudited) June 30, March 31, June 30, 2023 2023 2022 Cash and cash equivalents $ 585.2 $ 522.3 $ 684.9 Short-term debt and current portion of long-term debt (429.5) (385.0) (1
Slide 18: Reconciliation of Free Cash Flow
Exhibit 11 TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, unaudited) Three Months Ended June 30, Six Months Ended June 30, 2023 2023 2022 Cash provided (required) by operating activities from continuing operations $ 156.2 $ (230.0) $
Slide 19: TechnipFMC
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