Tecnicas Reunidas Sa · BME:TRE
Tecnicas Reunidas Sa — Q1 2022 Earnings Presentation
19 slides from Tecnicas Reunidas Sa's earnings presentation, May 13, 2022
Slide 1: Q1 2022 Results Presentation
Q1 2022 RESULTS PRESENTATION MAY 13TH 2022 JUAN LLADÓ – EXECUTIVE CHAIRMAN EDUARDO SAN MIGUEL - CEO
Slide 2: Index
INDEX 1) YTD AWARDS 2) Q1 2022 RESULTS 3) ENERGY TRANSITION 4) MAIN STRATEGIC LINES 2
Slide 3: YTD Awards
YTD AWARDS EXECUTIVE CHAIRMAN Juan Lladó 3
Slide 4: YTD Awards: Strategic and De-risked (INEOS Antwerp)
YTD AWARDS: STRATEGIC AND DE-RISKED Services for a world scale ethylene plant in Antwerp (Belgium) Largest capital project undertaken by INEOS in its history: 3 to 4 B€ of total investment Scope: project management, engineering, procurement and construction management and supervision services Highly
Slide 5: YTD Awards: Strategic and De-risked (North Field Expansion)
YTD AWARDS: STRATEGIC AND DE-RISKED EPC for the expansion of the sulfur-handling, storage and loading facilities of the North Field Expansion Project Overall amount $600 million JV with Wison (70% TR / 30% Wison) Aligned with circular economy schemes 5
Slide 6: YTD Awards: Strategic and De-risked (CFE combined cycles)
YTD AWARDS: STRATEGIC AND DE-RISKED 4 natural gas combined cycles for CFE (Mexico's Federal Electricity Commission) 50 / 50 JV with TSK Total amount for TR is more than $670m Technology provided by Siemens and Mitsubishi The projects will decarbonize the Mexican power mix 6
Slide 7: Q1 2022 Results
Q1 2022 RESULTS CEO Eduardo San Miguel 7
Slide 8: Q1 2022 Results
Q1 2022 RESULTS €M 1.181 Sales 928 763 773 700 712 682 703 659 Sales €773m EBIT €7m Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 EBIT margin Adjusted EBIT(1) €13m 2% 1% 1% 1% Net cash position(2) €61m 0% 0% -3% -7% (1) Includes €5.7m of extraordinar
Slide 9: Operations improving but facing new challenges in 2022
OPERATIONS IMPROVING BUT FACING NEW CHALLENGES IN 2022 Sales and margins recovering progressively throughout 2022, especially in second half: … but Ukraine and COVID confinements o Contribution to sales of in China bring new challenges: reprogrammed projects o Raw materials o Awarded projects starti
Slide 10: Financial profile evolution
FINANCIAL PROFILE EVOLUTION Net cash evolution in Q1 2022 €M • Clients are yet to revert to normal payment practices despite energy prices -38 +61 • Partial translation of payment terms +175 to support financially weaker -76 suppliers and speed project execution FY 2021 Cash Q1 2022 PPL net cash uti
Slide 11: Energy Transition
ENERGY TRANSITION HEAD OF ENERGY TRANSITION Joaquín Pérez de Ayala 11
Slide 12: A broad low carbon technologies offering
A BROAD LOW CARBON TECHNOLOGIES OFFERING A complete offering of technologies Green hydrogen for the decarbonization of energy Blue hydrogen supply and energy intensive industries Hydrogen Hydrogen fuelled power generation Green ammonia Dedicated Bio fuels Bio methanol business unit Circular economy
Slide 13: Combined with our services, an attractive partner
COMBINED WITH OUR SERVICES, AN ATTRACTIVE PARTNER Green hydrogen Conceptual assessment Blue hydrogen Hydrogen Feasibility Hydrogen fuelled power generation studies • A powerful toolbox to address the needs of investors in decarbonization Green ammonia Engineering projects services & FEED Bio fuels •
Slide 14: Our main achievements to date
OUR MAIN ACHIEVEMENTS TO DATE Acciona-Enagas Repsol Quintero Confidential Confidential Hydrogen Spain Green hydrogen Spain Green hydrogen Chile Green hydrogen Spain Green hydrogen Spain Green ammonia € 3.2B Engineering Engineering Engineering Engineering Project potential EPC value of main services
Slide 15: Main Strategic Lines
MAIN STRATEGIC LINES EXECUTIVE CHAIRMAN Juan Lladó 15
Slide 16: TR's main strategic lines
TR’S MAIN STRATEGIC LINES 1 Accelerate energy transition Mid-term target 2 Reduce construction risk Awards €5B 3 Diversify towards new markets Sales €5B 4 Increase in efficiency and digitalization EBIT margin 4% 5 Spanish technology hub 16
Slide 17: Tecnicas Reunidas
y TECNICAS REUNIDAS
Slide 18: Disclaimer
DISCLAIMER This document has been prepared by Técnicas Reunidas S.A. (the Company) solely for use at presentations held in connection with the announcement of the Company's results. This document contains forward-looking statements of the Company and/or its management. These forward looking statemen
Slide 19: Pipeline analysis
PIPELINE ANALYSIS Pipeline per division Pipeline per calendar Pipeline per geography (expected award date) 8% 7% 5% Clean Fuels 5% Middle East 5% 3% 22% Asia Pacific Petrochemical 25% H1 2022 31% Europe 18% 46% Energy Transition H2 2022 LatAm Natural Gas H1 2023 52% North America Other 8% H2 2023 Re