Tecnicas Reunidas Sa · BME:TRE
Tecnicas Reunidas Sa — Tecnicas Reunidas Sa Ord — FY 2025 Earnings Presentation
17 slides from Tecnicas Reunidas Sa's earnings presentation, Feb 27, 2026
Slide 1: FY 2025 Results
FY 2025 Results February 27th, 2026 Juan Lladó – Executive Chairman Eduardo San Miguel - CEO
Slide 2: Index
INDEX 1| 2025 Highlights 2| 2025, TR’s transformation moving forward 3| Financial results 4| Final remarks
Slide 3: Index: 2025 Highlights
INDEX 1| 2025 Highlights 2| 2025, TR’s transformation moving forward 3| Financial results 4| Final remarks
Slide 4: Financial highlights & 2026 Guidance
Sales, M€ +45% 6,465 >6,500 4,451 SEPI’s full 2025 2024 2025 2026 Guidance early repayment financial EBIT, M€ +61% completed on highlights 181 291 >325 December 1st & 2026 2024 2025 2026 Guidance Guidance Net profit, M€ Back to dividend +75% payment against 156 ~200 FY 2026 results 89 2024 2025 2026
Slide 5: 2025: Key quality and strategic achievements
2025: Key quality and strategic achievements Stronger o Lower Zakum award for 3.1 B€ positioning in Middle East Leadership in o CCGT scope expansion in KSA for 700 M€ o RWE Combined Cycle for ~500 M€ 5.1 B€ Power quality and (yet to be included in backlog) Trusted strategic new Services partner o Ne
Slide 6: Index
INDEX 1 | 2025 Highlights 2 | 2025, TR’s transformation moving forward 3 | Financial results 4 | Final remarks
Slide 7: 2025, TR's transformation moving forward
2025, TR’s transformation moving forward Services Power o Already halfway of 2028 targets o Spin-off of the Power Business Unit o Scaling our talent o +1.0 B€ annual sales target o ~1.8 B€ pipeline of opportunities o Huge pipeline ahead AI, digitalization Middle East & & robotics North America o Amb
Slide 8: Services
Services Consolidated position 333 M€ More than 40 as a trusted awards in 2025 new contracts in 2025 engineering services partner to clients 11 total frame 23 new clients agreements reached in 2025 Sales, M€ 500 Energy Transition and 254 Digitalization projects are becoming a major driver 2025 2028
Slide 9: AI, digitalization & robotics
AI, digitalization & robotics Investment plan, M€ Digital team employees, FTE Awards in digitalization, M€ We are deepening +400 our digital focus 25-35 to support future 17 per year 169 65 +50 growth 2025 2026 onwards January 2026 End of 2026 Already awarded for Currently in projects in execution n
Slide 10: TR Power
TR Power Key figures of the business unit Gas Power market booming in the next o Over 25 years experience in ~20 countries decade (~110 B$ Spin-off of the investment per year Power o 40+ Steam Turbines, 30+ Power Plants, +60 Gas Turbines on average) Business Unit o Rising electrification to gain eff
Slide 11: Middle East & North America: Driving future investments
Middle East & North America: Driving future investments Cumulative investments (2026-30), Bn USD Upcoming energy 592 North America Middle East investments concentrated in 278 Middle East and 185 174 72 North America 18 29 22 Oil & Gas LNG Power Decarbonization Source: McKinsey Global Energy Perspect
Slide 12: Solid position in Middle East and North America
Solid position in Middle East and North America Middle East North America Strategic frame UAE: Middle East HUB and agreements with modular construction in Abu Dhabi major energy players delivering tangible results KSA: Robust O&G footprint and at the forefront of energy transition Future EPC opportu
Slide 13: Index: Financial results
INDEX 1| 2025 Highlights 2| 2025, TR’s transformation moving forward 3| Financial results 4| Final remarks
Slide 14: P&L
P&L Sales, M€ +52% 4Q24 vs 4Q25 1,852 1.869 1,307 1,437 1,233 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 EBIT, M€ EBIT margin +74% 4Q24 vs 4Q25 84.1 86.6 4.1% 4.3% 4.4% 4.5% 4.6% 49.8 56.4 64.0 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 14
Slide 15: Balance sheet
Balance sheet Net cash position*, M€ Equity*, M€ SEPI repayment December 1st Net Cash SEPI PPL Equity SEPI PPL 423 422 427 500 575 564 394 332 175 175 175 175 175 175 258 175 325 400 219 248 247 252 83 FY 2024 Q1 2025 H1 2025 9M 2025 FY 2025 2022 2023 2024 2025 30% dividend payment against FY 2026 r
Slide 16: Index: Final remarks
INDEX 1| 2025 Highlights 2| 2025, TR’s transformation moving forward 3| Financial results 4| Final remarks
Slide 17: Final remarks
Final remarks Strong 2025 as an inflection point 2026 Confident outlook for 2026 and beyond Revenues >6.5 B€ EBIT >325 M€ Transformation fueling long-term value creation EBIT margin >5% 7 B€ awards expected for 2026 17
Tecnicas Reunidas Sa Ord — FY 2025 Earnings Presentation on 6ix