Slide 1: Q2 2024 Earnings Presentation
Q2 2024 Earnings Presentation July 25, 2024
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 2024 Operational summary
Q2 2024 Operational summary Highlights Subsea inbound of $2.8 billion, representing a book-to-bill of 1.4; total Company orders of $3.1 billion Total Company backlog increased to $13.9 billion; highest level achieved since formation of TechnipFMC in 2017 Total Company adjusted EBITDA improved
Slide 5: Q2 2024 Financial results
Q2 2024 Financial results Sequential highlights Total Company adjusted EBITDA of $379 million, excluding the impact of foreign exchange: $3.1B Inbound orders Subsea increased due to strong execution, improved earnings mix from backlog, and higher project and services activity $13.9B Surface Te
Slide 6: Subsea opportunities in the next 24 months
Subsea opportunities in the next 24 months1 EQUINOR PROJECT UPDATES Johan Sverdrup Ph 3 VAR ENERGI Added BEACON Ofelia PETROBRAS Monument Sepia 2 Shell BP Puffin BP Kaskida Tortue CHEVRON BP Aphrodite BEACON Tiber Monument ENI MELLITAH SHELL Northern Hub PTTEP TOTALENERGIES Bahr Essalam Leopard ENI
Slide 7: 2024 Full-year financial guidance
2024 Full-year financial guidance1 As of July 25, 2024 2 Subsea Surface Technologies Revenue in a range of $7.6 – 7.8 billion Revenue in a range of $1.2 – 1.35 billion Adjusted EBITDA margin in a range of 16.5 – 17% Adjusted EBITDA margin in a range of 13 – 15% TechnipFMC Corporate expense
Slide 8: Q2 2024 Cash flow and net debt
Q2 2024 Cash flow and net debt Free cash flow (in $ millions) $180M (51) Net Debt (In millions, unaudited) 231 (122) June 30, 2024 (47) Cash and cash equivalents $ 708 Short-term debt and current portion of long-term debt (322) 708 697 Long-term debt, less current portion (647) Net debt $ (260) Cash
Slide 9: Backlog scheduling provides visibility
Backlog scheduling provides visibility Subsea1 Surface Technologies as of June 30, 2024 as of June 30, 2024 2024 $3.1B 2026+ 2024 $5.4B $12.9 2025+ $1.0 $440M billion $533M billion 2025 $4.5B 1 Backlog does not capture all revenue potential for Subsea Services Q2 2024 Earnings Call Presentation | 9
Slide 10: Appendix
Appendix Q2 2024 Earnings Call Presentation | 10
Slide 11: 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 12: Non-GAAP financial measures
Exhibit 6 TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, except per share data, unaudited) In addition to financial results determined in accordance with U.S. generally accepted accounting principles (GAAP), the second quarter 2024 Ea
Slide 13: Adjusted EBITDA reconciliation, three and six months ended June 30, 2024
Exhibit 7 TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, unaudited) Three Months Ended Six Months Ended June 30, 2024 March 31, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Net income (loss) attributable to TechnipFMC plc $ 186.5 $
Slide 14: Three Months Ended June 30, 2024 by segment
Exhibit 8 TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, unaudited) Three Months Ended June 30, 2024 Surface Corporate Foreign Subsea Technologies Expense Exchange, net Total Revenue $ 2,009.1 $ 316.5 $ — $ — $ 2,325.6 Operating profi
Slide 15: Three Months Ended March 31, 2024 by segment
Exhibit 8 TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, unaudited) Three Months Ended March 31, 2024 Surface Corporate Foreign Subsea Technologies Expense Exchange, net Total Revenue $ 1,734.8 $ 307.2 $ — $ — $ 2,042.0 Operating prof
Slide 16: Three Months Ended June 30, 2023 by segment
Exhibit 8 TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, unaudited) Three Months Ended June 30, 2023 Surface Corporate Foreign Subsea Technologies Expense Exchange, net Total Revenue $ 1,618.4 $ 353.8 $ — $ — $ 1,972.2 Operating profi
Slide 17: Net debt reconciliation
Exhibit 10 TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, unaudited) June 30, 2024 March 31, 2024 June 30, 2023 Cash and cash equivalents $ 708.2 $ 696.8 $ 585.2 Short-term debt and current portion of long-term debt (321.6) (136.6) (4
Slide 18: Free cash flow reconciliation
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, 2024 2024 2023 Cash provided (required) by operating activities $ 230.9 $ 104.2 $ (230.0) Capital expenditures
Slide 19: TechnipFMC
» 3 TechnipFMC