Technipfmc Plc · NYSE:FTI
Technipfmc — Q1 2020 Earnings Presentation
25 slides from Technipfmc's earnings presentation, Apr 23, 2020
Slide 1: Q1 2020 Earnings Call Presentation
Q1 2020 Earnings Call Presentation April 23, 2020
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. Words such as “guidance,” “confident,” “
Slide 3: Q1 2020 Overview
Q1 2020 Overview Financial Results and Operational Highlights Doug Pferdehirt, Chairman and Chief Executive Officer Maryann Mannen, EVP and Chief Financial Officer
Slide 4: Adapting to a new energy landscape
Adapting to a new energy landscape Short-term Medium-term Long-term Immediate actions to Committed to separation Ensuring the strength and protect our people, reduce into two diversified sustainability of our cost and preserve liquidity pure-plays Company Strict health and safety Strategic ratio
Slide 5: Strength in backlog and balance sheet
Strength in backlog and balance sheet Backlog Scheduled execution $22 billion backlog (in $ billions) Significant backlog for execution that extends over 10 several years 8.2 8.2 8 5.6 $5.6 billion cash and liquidity 6 Strong balance sheet with more than sufficient capacity to fund operations and ne
Slide 6: 2020 revised outlook
2020 revised outlook Technip Energies Surface Technologies Subsea Long-term fundamentals for natural gas International investment to continue but Subsea to become more prevalent in and LNG remains strong given critical constrained near-term; flight to quality energy mix as project economics re
Slide 7: Subsea opportunities in the next 24 months
Subsea opportunities in the next 24 months1,2 EQUINOR Krafla EQUINOR EQUINOR Bay Du Nord Breidablikk EXXONMOBIL TOTAL Neptun Deep North Platte EXXONMOBIL Payara TOTAL EXXONMOBIL Preowei Hammerhead ENI PETRONAS Agogo Full Field Limbayong BP Tortue 2 SHELL PETROBRAS PETRONAS Bonga Itapu Kelidang BP PE
Slide 8: 2020 Financial guidance and key outlook drivers
2020 Financial guidance1 and key outlook drivers Technip Energies In lieu of specific revenue and EBITDA margin guidance, we provide the following: Revenue in a range of $6.3–6.8 billion EBITDA margin at least 10% Subsea Surface Technologies (excluding charges and credits) Revenue drivers Intern
Slide 9: Adapting to 2020 & Beyond
Adapting to 2020 & Beyond Focused on business continuity – working safely and diligently to address current challenges Decisive actions in response to market environment, including cost reductions and revised dividend policy Executive salaries and Board of Directors’ retainer reduced by up to
Slide 10: Q1 2020 Company results
Q1 2020 Company results Q1 2020 EPS walk Revenue of $3.1 billion YoY growth ~8% impeded by COVID-19, foreign exchange $ millions $ / share GAAP Net (loss), as reported $ (3,256.1) $ (7.28) Adjusted EBITDA of $220 million Charges and credits, after-tax $ 3,207.0 $ 7.17 Impacted by COVID-19 disruption
Slide 11: TechnipFMC liquidity (as of March 31, 2020)
TechnipFMC liquidity (as of March 31, 2020) Cash and cash equivalents Liquidity Supporting data (In billions) $8 March 31, $7.5B 2020 Cash & cash equivalents Cash and cash equivalents $ 5.0 Revolving credit facility $7 Revolving credit facility 2.5 Commercial Paper Total liquidity 7.5 $6 $5.6B Less:
Slide 12: Appendix
Appendix Q1 2020 Earnings Call Presentation | 12
Slide 13: Subsea opportunities in the next 24 months
Subsea opportunities in the next 24 months1,2 PROJECT UPDATES Added Removed CHEVRON Anchor* $250M to $500M $500M to $1,000M above $1,000M 1April 2020 update; project value ranges reflect potential subsea scope * Value of remaining scope is less than $250M following partial project award 2Projects sh
Slide 14: Q1 2020 Segment results
Q1 2020 Segment results Subsea Technip Energies Surface Technologies USD, in millions USD, in millions USD, in millions +6% -340 bps +16% -380 bps -16% -30 bps 11.8% 14.6% 7.7% 7.4% 1,548 393 1,253 1,335 1,185 8.4% 330 10.8% Revenue Adjusted EBITDA margin Revenue Adjusted EBITDA margin Revenue Adjus
Slide 15: Q1 operating cash flow
Q1 operating cash flow Capital expenditures Q1 2020 Cash flow walk (in $ millions) 2017 - 2019 2020 (in $ millions) 450 -33% 500 368 374 300 5,190 256 250 0 2017 2018 2019 1 Original Revised Guidance for capital expenditures revised 4,999 lower from $450 million to $300 million Q1 2020 items of no
Slide 16: Financial disclosures – Yamal LNG
Financial disclosures – Yamal LNG Project disclosure data Contract liabilities structure TechnipFMC plc and Consolidated Subsidiaries Business Segment Data for Yamal LNG Joint Venture (In millions, unaudited) Reduction in contract liabilities: $84m March 31, 2020 December 31, 2019 December 31, 2019
Slide 17: Backlog visibility
Backlog visibility Subsea 1 1Q 2020 Inbound orders: $1,172 million 2 Non-consolidated Backlog $7.8 billion Subsea $3.1 billion $2.8 billion $1.9 billion 3 2020 2021 2022 & beyond 2020 $106 million 1 Backlog does not capture all revenue potential for subsea services. 2021 $132 million 2022+ $524 mill
Slide 18: Glossary
Glossary Term Definition Term Definition Bcm Billion Cubic Meters per Annum MMb/d Million Barrels per Day CAGR Compound Annual Growth Rate MRL Mandatorily redeemable financial liability E&C Engineering and Construction Mtpa Million Metric Tonnes per Annum FID Final Investment Decision NAM North Amer
Slide 19: Select financial data
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Slide 25: TechnipFMC
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