Technip Energies Nv · EURONEXT:TE
Technip Energies Nv — FY 2024 Earnings Presentation
45 slides from Technip Energies Nv's earnings presentation, Feb 27, 2025
Slide 1: FY 2024 Results: Delivering Outstanding performance
FY 2024 Results Delivering Outstanding performance 27th February 2025
Slide 2: Welcome: Agenda and today's speakers
Welcome Agenda Today’s speakers Business highlights Arnaud Pieton Chief Executive Officer Financial highlights Bruno Vibert Chief Financial Officer Outlook Arnaud Pieton Bruno Vibert Chief Executive Officer Chief Financial Officer Arnaud Pieton Chief Executive Officer Technip Energies – FY 2024 Resu
Slide 3: Disclaimer
Disclaimer This presentation contains forward-looking when made, there can be no assurance that future Company’s 2024 Half-Year Report filed on August statements that reflect Technip Energies’ (the developments affecting the Company will be those 1, 2024, with the Dutch Autoriteit Financiële “Compan
Slide 4: Technology & Engineering powerhouse
LEADER SAFETY PIONEER Energy & The reference The industry decarbonization company benchmark Technology & Engineering BUSINESS EXPANSION VALUE CREATION PEOPLE GROWTH powerhouse Offerings, clients 17,000+ global For all stakeholders leading in energy & markets talents & decarbonization 2028 Financial
Slide 5: Complementary business models
Complementary business models OFFERINGS ADJACENT TECHNOLOGY PRODUCTS SERVICES PROJECT DELIVERY BUSINESS MODELS • Licensing • Loading • Consulting • Engineering, Procurement & Construction • Build Own Operate arms (Transfer) • PDP1 • Engineering • Engineering & Procurement • Proprietary studies & • (
Slide 6: CMD highlights: T.EN a company in motion
CMD highlights: T.EN a company in motion OUR MARKET LARGE & DIVERSIFIED 2025 FINANCIAL ROBUST BALANCE DISCIPLINED OPPORTUNITY SET COMMERCIAL GUIDANCE & 2028 SHEET AND CASH CAPITAL IS GROWING PIPELINE FRAMEWORK GENERATION ALLOCATION Ready to thrive in any energy scenario Full CMD presentation availab
Slide 7: Business Highlights
SECTION 1 Business Highlights ARNAUD PIETON CHIEF EXECUTIVE OFFICER Technip Energies – FY 2024 Results 7
Slide 8: FY 2024 – Key highlights
FY 2024 – Key highlights REVENUE RECURRING EBITDA Outstanding financial performance • Highest ever EBITDA / EBIT / EPS € 6.9bn € 608m • Strong platform to deliver 2025 guidance 14% Y/Y + + 13% Y/Y Excellent commercial success • €10bn+ orders; record backlog of €19.6bn • Q4 awards: NZT and Suriname t
Slide 9: Key Q4 2024 operational highlights
Key Q4 2024 operational highlights Project Delivery TPS Tortue FPSO Assiut Complex INEOS Project ONE AM Green Project Gas & LNG Downstream Ethylene Green molecules NFE: The piping erection Assiut Hydrocracking INEOS Project ONE: Successful AM Green Kakinada Project - activities are nearly complete f
Slide 10: €10bn of orders diversified by market and geography
€10bn of orders diversified by market and geography 2024 Order intake Key awards in 2024 Market Project & Geography Ruwais, UAE Project Delivery Low-carbon LNG Marsa, Oman Leveraging leadership in €7.8bn Net Zero Teesside LNG, modularization and CCS Power project (NZT), UK carbon capture GrandMorgu
Slide 11: Sustainability: 2024 achievements at a glance
Sustainability: 2024 achievements at a glance DRIVING LASTING CHANGE SOLID PROGRESSION IN RATINGS Confirming leadership - AAA rating maintained CLIMATE & PEOPLE ENVIRONMENT TRUST Platinum Medal - Top 1% 32% 41% 2nd in our industry group Women in Reduction in ESG Supplier permanent scope 1 & 2 GHG Co
Slide 12: Financial Highlights
SECTION 2 Financial Highlights BRUNO VIBERT CHIEF FINANCIAL OFFICER Technip Energies – FY 2024 Results 12
Slide 13: Outstanding FY 2024 performance
Outstanding FY 2024 performance REVENUE RECURRING EBIT EARNINGS PER SHARE € 6.9bn € 496m € 2.16 + 14% Y/Y + 11% Y/Y 33% Y/Y + ORDER INTAKE BACKLOG GROSS CASH € 10.0bn € 19.6bn € 4.1bn 1.5 Book-to-Bill, TTM1 + 24% Y/Y 14% Y/Y + 1Trailing 12 months. Financial information is presented under adjusted IF
Slide 14: Segment performance: Project Delivery
Segment performance: Project Delivery Project delivery supported by buoyant LNG market REVENUE RECURRING RECURRING BACKLOG EBITDA EBIT Revenue: Driven by an increasing In €m In €m In €m In €m contribution from Qatar LNG projects, as well as higher activity in offshore. +19% +12% +12% +26% Recurring
Slide 15: Segment performance: Technology, Products & Services
Segment performance: Technology, Products & Services Building momentum with strong finish to 2024 RECURRING RECURRING Revenue: Growth driven by renewable REVENUE EBITDA EBIT BACKLOG fuels services, PMC, and a higher volume In €m In €m In €m In €m of smaller projects / studies. Recurring EBITDA / EBI
Slide 16: Other key metrics and balance sheet
Other key metrics and balance sheet Solid net income supporting high return on equity Net financial Significantly higher Y/Y – income € 120 million growth in cash investments. Income Effective tax rate 30.2 % In line with guidance. Statement Net profit1 € 390 million 33% growth Y/Y. 19% Return on De
Slide 17: Consistent strength in free cash flow generation
Consistent strength in free cash flow generation CASH FLOW BRIDGE • Operating cash flow: €834m; Free cash flow1: In €m €748m, after €230m inflow from working capital and provisions. ✓ Free cash flow, excluding working capital impact: €519m. 230 ✓ Free cash conversion from Adj. Rec. 519 89 4,058 EBIT
Slide 18: Confirmed group 2025 guidance and 2028 framework
Confirmed group 2025 guidance and 2028 framework 2025 GUIDANCE 2028 FRAMEWORK Technology, Technology, Project Delivery Project Delivery Products & Services Products & Services Revenue €5.0 - 5.4bn €2.0 - 2.2bn >€6.0bn >€2.6bn EBITDA %1 ~8% ~13.5% ~8.5% ~14.5% Effective tax rate2 Corporate costs R&D
Slide 19: Prioritizing shareholder returns and strategic investments
Prioritizing shareholder returns and strategic investments ROBUST ORGANIC FCF GENERATION PRIORITIES #1 Dividend €2.2 - 2.6bn Minimum 25% - 35% of FCF2 Growth aligned to earnings trajectory 2024 – 2028E CUMULATIVE1 #2 Value accretive investments providing capital allocation flexibility M&A Adjacent b
Slide 20: Attractive shareholder returns
Attractive shareholder returns T.EN dividend evolution Shareholder Returns SUBSTANTIAL EPS GROWTH +88% Robust operational and financial performance 2024 vs 2020 +24% CAGR 0.851 ATTRACTIVE DIVIDEND +89% A growing sustainable dividend, opportunistic GROWTH 2024 vs 2021 buyback HIGH RETURN Excellence i
Slide 21: Outlook
SECTION 3 Outlook ARNAUD PIETON CHIEF EXECUTIVE OFFICER Technip Energies – FY 2024 Results 21
Slide 22: A view from T.EN – market trends and key observations
A view from T.EN – market trends and key observations Key macro trends Long-term global energy Dynamic geopolitical situation AI & datacenters growth demand growth and policy decisions Robust demand for power generation, Decarbonization & waste management Resilient customer spending natural gas & ch
Slide 23: FY 2024 Key takeaways
Delivering FY 2024 Key takeaways Outstanding 2024 Positive outlook Strong shareholder returns Robust earnings and FCF Attractive opportunity set Growing dividends • EPS + 33% Y/Y • Positioned for sizable prospects • Proposed €0.85/share • FCF: >€500m in 2025 / 26 • 49% increase Y/Y Backlog reaches ~
Slide 24: FY 2024 Results Q&A
FY 2024 Results Q&A 27th February 2025
Slide 25: Appendix
Appendix 27th February 2025
Slide 26: CMD highlights: T.EN a company in motion
CMD highlights: T.EN a company in motion OUR MARKET LARGE & DIVERSIFIED 2025 FINANCIAL ROBUST BALANCE DISCIPLINED OPPORTUNITY SET COMMERCIAL3 GUIDANCE & SHEET & CASH CAPITAL IS GROWING PIPELINE 2028 FRAMEWORK GENERATION ALLOCATION Revenue / EBITDA margin Sustained growth in €40bn in 2024 to €100bn+
Slide 27: T.EN's net cash assessment: over €1.4 billion
T.EN’s net cash assessment: over €1.4 billion Bridging gross cash to net cash; a limited portion of NCL represents future cash outflow T.EN’S CALCULATION OF NET CASH 1 Gross cash <€1.9bn 2 NCL “project debt” i.e. estimated project costs + contingency in full ~€4.1bn Project ~€0.7bn contingency 3 Fin
Slide 28: Backlog schedule
Backlog schedule FULL COMPANY: €19.6 bn €6.3 bn €5.6 bn €7.6 bn 2025 2026 2027+ → PROJECT DELIVERY: €17.5 bn €5.0 bn €5.2 bn €7.3 bn 2025 2026 2027+ + TECHNOLOGY, PRODUCTS & SERVICES: €2.0bn €1.3 bn €0.4 bn €0.3 bn 2025 2026 2027+ Adjusted backlog at December 31, 2024, has been positively impacted b
Slide 29: A geographically diversified 2024 order intake
A geographically diversified 2024 order intake ORDER INTAKE IN 2023 BY GEOGRAPHY ORDER INTAKE IN 2024 BY GEOGRAPHY Order intake value: €10bn (PD: 83% / TPS: 17%) Order intake value: €10bn (PD: 78% / TPS: 22%) AMERICAS EUROPE AMERICAS EUROPE 6% 32% 85% 20% 38% 3% 6% 10% MIDDLE EAST RoW1 MIDDLE EAST R
Slide 30: T.EN secures a world first in carbon capture
T.EN secures a world first in carbon capture Net Zero Teesside Power project, UK Major1 EPC contract for first-of-a-kind gas-fired power station fully integrated with carbon capture and storage Bespoke Canopy by T.ENTM solution, powered by Shell’s CANSOLV CO2 Capture System Hybrid contract structure
Slide 31: Other Q4 highlights: major award and technology development
Other Q4 highlights: major award and technology development GrandMorgu FPSO, Suriname Partnership technology development Major1 EPC contract for topsides Exclusive global alliance for CO2 capture In JV with SBM Offshore DOE commits $200 million in federal funding to initiate Phase 1 of project SECUR
Slide 32: LNG - a supply-led market with growth through 2040
LNG - a supply-led market with growth through 2040 Long-term market growth… … Bolstered by favorable trends T.EN positioning LNG total addressable market1 (in Mtpa) Regulation ~40% T.EN market share3 > US moratorium lifting +4.0% CAGR 2023-40 > Regional energy policies support T.EN differentiation 9
Slide 33: Adjusted statements of income – FY 2024
Adjusted statements of income – FY 2024 Financial information is presented under adjusted IFRS (see Appendix 8.0 of FY 2024 Results Release). Reconciliation of IFRS to non-IFRS financial measures are provided in appendices. Technip Energies – FY 2024 Results 33
Slide 34: Adjusted statements of income – Q4 2024
Adjusted statements of income – Q4 2024 Financial information is presented under adjusted IFRS (see Appendix 8.0 of FY 2024 Results Release). Reconciliation of IFRS to non-IFRS financial measures are provided in appendices. Technip Energies – FY 2024 Results 34
Slide 35: Reconciliation between IFRS and Adjusted – FY 2024
Adjusted statements of income Reconciliation between IFRS and Adjusted – FY 2024 Financial information is presented under adjusted IFRS (see Appendix 8.0 of FY 2024 Results Release). Reconciliation of IFRS to non-IFRS financial measures are provided in appendices. Technip Energies – FY 2024 Results
Slide 36: Reconciliation between IFRS and Adjusted – FY 2023
Adjusted statements of income Reconciliation between IFRS and Adjusted – FY 2023 Financial information is presented under adjusted IFRS (see Appendix 8.0 of FY 2024 Results Release). Reconciliation of IFRS to non-IFRS financial measures are provided in appendices. Technip Energies – FY 2024 Results
Slide 37: Reconciliation between IFRS and Adjusted – Q4 2024
Adjusted statements of income Reconciliation between IFRS and Adjusted – Q4 2024 Financial information is presented under adjusted IFRS (see Appendix 8.0 of FY 2024 Results Release). Reconciliation of IFRS to non-IFRS financial measures are provided in appendices. Technip Energies – FY 2024 Results
Slide 38: Reconciliation between IFRS and Adjusted – Q4 2023
Adjusted statements of income Reconciliation between IFRS and Adjusted – Q4 2023 Financial information is presented under adjusted IFRS (see Appendix 8.0 of FY 2024 Results Release). Reconciliation of IFRS to non-IFRS financial measures are provided in appendices. Technip Energies – FY 2024 Results
Slide 39: Adjusted statements of financial position
Adjusted statements of financial position Financial information is presented under adjusted IFRS (see Appendix 8.0 of FY 2024 Results Release). Reconciliation of IFRS to non-IFRS financial measures are provided in appendices. Technip Energies – FY 2024 Results 39
Slide 40: Adjusted statements of cashflows
Adjusted statements of cashflows Financial information is presented under adjusted IFRS (see Appendix 8.0 of FY 2024 Results Release). Reconciliation of IFRS to non-IFRS financial measures are provided in appendices. Technip Energies – FY 2024 Results 40
Slide 41: Differentiated capital structure
Differentiated capital structure Net liquidity, December 31, 2024 (€m) Gross cash / debt, December 31, 2024 (€m) 750 80 4,728 4,058 Commercial Paper & Others 4,058 135 the Notes1 3,322 601 Cash RCF Outstanding Liquidity Cash Gross debt Net commercial paper Robust liquidity position comprised of ~€4.
Slide 42: 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: 130.1 million / Outstanding shares: 178.4 million Ratio: 1 ADR : 1 ORD Market Cap on Dec 31, 2024: €4.6 billion Volume Share price € 2
Slide 43: A balanced shareholder structure
A balanced shareholder structure Full year review Equity Split Institutional Investors As a % of Shares Outstanding Regional split Retail Rest of World Other incl. hedge funds Institutional 5% Europe 4% France (long only) 9% 11% 30% T.EN treasury 2% 57% 26% UK & Strategic 28% Ireland shareholders1 N
Slide 44: Technip Energies upcoming investor events
Technip Energies upcoming investor events Engaging top shareholders and potential investors with an extensive schedule T.EN FY Results - Feb 27, 2025 events Mar 18, 2025 Mar 25, 2025 May 21, 2025 Investor BNP PARIBAS EXANE JEFFERIES BERNSTEIN conferences Transforming Industrials, Pan-European Mid-Ca
Slide 45: Investor Relations
Investor Relations Phillip Lindsay Vice President, Investor Relations Tel: +44 20 7585 5051 phillip.lindsay@ten.com Investor Relations David Trevalinet Manager, Investor Relations Tel: +33 1 47 78 21 74 david.trevalinet@ten.com