Maire S.p.A. · MIL:MAIRE
Maire — Maire Tecnimont — FY2016 Earnings Presentation
19 slides from Maire's earnings presentation, Mar 15, 2017
Slide 1: Maire Tecnimont - 2016 Financial Results
MAIRE TECNIMONT - 2016 FINANCIAL RESULTS March 15, 2017 2016 FINANCIAL RESULTS
Slide 2: Disclaimer
DISCLAIMER This document has been prepared by Maire Tecnimont S.p.A. (the “Company”) solely for use in the presentation of its financial results. This document does not constitute or form part of any offer or invitation to sell, or any solicitation to purchase any shares in the Company. The informat
Slide 3: Key Messages
KEY MESSAGES • Strong growth in Consolidated Revenues, EBITDA and Net Income − Revenues: €2.4bn (+45.9%) − EBITDA: €160.0m (+22.3%) − Net Income: €85.3m (+94.8%) • Steady marginality throughout 2016 − EBITDA Margin: 6.6% MAIRE TECNIMONT - 2016 FINANCIAL RESULTS • Dividends 2016: €28.4m (+97%) • Sign
Slide 4: Key Consolidated Financials (€m)
KEY CONSOLIDATED FINANCIALS (€M) Revenues EBITDA Net Income +45.9% +22.3% +94.8% 2,435.4 160.0 85.3 130.8 1,669.6 43.8 2015 2016 2015 2016 2015 2016 MAIRE TECNIMONT - 2016 FINANCIAL RESULTS NFP Net Worth - €82.8 m +€58.5m 125.6 184.7 126.2 42.8 Dec '15 Dec '16 Dec '15 Dec '16 4
Slide 5: Summary
SUMMARY 1. Operational Performance Pierroberto Folgiero, CEO 2. Financial Results Alessandro Bernini, CFO 3. Looking Ahead Pierroberto Folgiero, CEO
Slide 6: 2016 Order Intake
2016 ORDER INTAKE Name Client Country Business Type Value (€m) Liwa Plastic Complex ORPIC Oman Petrochemical EPC 786 Pengerang Integrated Petronas Malaysia Petrochemical EPC 308 Complex Petro Clean Fuel Project Saudi Arabia Oil & Gas EPC 134 Rabigh SOCAR Sumgayit Azerbaijan Petrochemical EPC 111 Pol
Slide 7: Backlog
BACKLOG Backlog by Business Unit Backlog by Geography (€m, 31/12/14-31/12/16) (December 2016) 6,893 6,516 Others 438 3% 451 Africa Europe 13% 4,951 Asia 29% 406 6,455 6,065 16% MAIRE TECNIMONT - 2016 FINANCIAL RESULTS 4,545 39% 31/12/14 31/12/15 31/12/16 Middle East TE&C TE&C Infrastructure A Well D
Slide 8: Backlog Analysis – TE&C Business Unit
BACKLOG ANALYSIS – TE&C BUSINESS UNIT Backlog by Type (€m, 31/12/15-31/12/16) Book to Bill Ratio* (31/12/14-31/12/16) 6,455 6,065 5,483 5,304 4.2 3.1 2.7 MAIRE TECNIMONT - 2016 FINANCIAL RESULTS 846 681 972 761 126 80 31/12/15 31/12/16 31/12/14 31/12/15 31/12/16 E EP EPC Good mix between E, EP, and
Slide 9: Outlook on Commercial Activity (TE&C)
OUTLOOK ON COMMERCIAL ACTIVITY (TE&C) Commercial Activity (€bn, Dec ’13-Dec ‘16) 31.5 28.6 26.0 7.0 4.5 6.6 5.5 19.0 6.2 5.2 7.4 4.3 17.9 19.0 MAIRE TECNIMONT - 2016 FINANCIAL RESULTS 12.0 9.5 Dec '13 Dec '14 Dec '15 Dec '16 Prospect, Prequalification & & Pre-Tendering Tendering Tendered Our Commerc
Slide 10: Commercial Activity's Geographical Breakdown (TE&C)
COMMERCIAL ACTIVITY’S GEOGRAPHICAL BREAKDOWN (TE&C)* C.I.S. FERTILIZER €6.5bn POLYOLEFIN GAS TREATMENT Europe REFINERY POLYOLEFIN €0.5bn REFINERY North and Central America €1.3bn POLYOLEFIN MAIRE TECNIMONT - 2016 FINANCIAL RESULTS Middle East FERTILIZER €8.8bn POLYOLEFIN GAS TREATMENT REFINERY South
Slide 11: Summary
SUMMARY 1. Operational Performance Pierroberto Folgiero, CEO 2. Financial Results Alessandro Bernini, CFO 3. Looking Ahead Pierroberto Folgiero, CEO
Slide 12: Consolidated Income Statement
CONSOLIDATED INCOME STATEMENT €m 2015 2016 ∆% Revenues 1,669.6 2,435.4 45.9% Business Profit 211.2 241.2 14.2% G&A (73.9) (76.2) 3.1% R&D (6.4) (5.0) (21.9%) EBITDA 130.8 160.0 22.3% EBITDA % 7.8% 6.6% MAIRE TECNIMONT - 2016 FINANCIAL RESULTS EBIT 115.4 152.6 32.2% Net Financial Charges (37.8) (18.8
Slide 13: Net Financial Position and Cash Flow Bridge
NET FINANCIAL POSITION AND CASH FLOW BRIDGE Net Financial Position (€m) 125.6 -82.8 42.8 Net Bank Debt 40.6 Conv. Bond 75.1 Derivatives 73.1 11.9 28.2 -60.5 Dec 2015 Dec 2016 Cash Flow Bridge (€m) 125.6 MAIRE TECNIMONT - 2016 FINANCIAL RESULTS 152.9 18.8 42.8 20.6 16.3 14.4 Net Debt Operating Forex
Slide 14: Summary
SUMMARY 1. Operational Performance Pierroberto Folgiero, CEO 2. Financial Results Alessandro Bernini, CFO 3. Looking Ahead Pierroberto Folgiero, CEO
Slide 15: Global & Technological Leadership
GLOBAL & TECHNOLOGICAL LEADERSHIP PETROCHEMICALS FERTILIZERS OIL & GAS Well rooted technology orientation: market leader (#1) for installed capacity 54% Market share in WELL RECOGNIZED LEADERSHIP in Licensing hydrogen licensing urea plants technology and in licensing 30% technology (#1 worldwide)* S
Slide 16: Our Operations Are Driven by Positive Business Trends
OUR OPERATIONS ARE DRIVEN BY POSITIVE BUSINESS TRENDS PETCHEM • Gas monetization: Cheap feedstock supports owner’s investment attractiveness • Strong demand for plastics-based products FERTILIZERS • Gas monetization • Demography and agricultural modernization driving long term demand for nitrogen-ba
Slide 17: Maire Tecnimont Has Been Outperforming the Sector
MAIRE TECNIMONT HAS BEEN OUTPERFORMING THE SECTOR Maire Tecnimont’s Relative Performance, 6/20/14 – 3/13/17 Maire Tecnimont BEUOILS Index WTI Future 140 120 100 80 MAIRE TECNIMONT - 2016 FINANCIAL RESULTS 60 40 20 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Nov-15 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 Ju
Slide 18: Our Focus in 2017
OUR FOCUS IN 2017 • On-going focus on backlog runoff, mainly driven by a higher proportion of EPC projects • Commercial opportunities remain solid and very concrete • Maintain financial discipline • Leveraging on Siluria’s experience, pursue additional opportunities to enhance our technology portfol
Slide 19: MAIRE TECNIMONT - 2016 FINANCIAL RESULTS
Maire Tecnimont Group’s Headquarters Via Gaetano De Castillia, 6A 20124 Milan info@mairetecnimont.it Investor Relations T +39 02 6313-7823 02 6313-7823 MAIRE TECNIMONT - 2016 FINANCIAL RESULTS Investor-relations@mairetecnimont.It www.mairetecnimont.com