Tecnicas Reunidas SA · BME:TRE
Tecnicas Reunidas SA — 9M 2007 Earnings Presentation
24 slides from Tecnicas Reunidas SA's earnings presentation, Nov 8, 2007
Slide 1: Nine Month 2007 Results Presentation
TECNICAS REUNIDAS Juan Lladó CEO Nine Month 2007 Results Presentation 8th of November 2007
Slide 2: Index
INDEX TECNICAS REUNIDAS ¾ BACKLOG ¾ MAIN RECENT AWARDS ¾ SPOTLIGHT ON REGASIFICATION ¾ HUMAN RESOURCES ¾ 9M 2007 RESULTS 1
Slide 3: Delivery: Execution of Current Backlog
DELIVERY: Execution of Current Backlog New record figure for Backlog Awards (1) Backlog (1) €m €m 5,000 3,000 2,759 2,621 4,500 4,437 2,500 4,000 3,040 3,500 2,000 3,000 1,485 1,500 2,500 1,712 2,000 1,000 713 1,500 983 1,000 500 500 0 0 2004 2005 2006 9M 07 2004 2005 2006 9M 07 (1) Does not include
Slide 4: 9M 2007 Backlog by Project
9M 2007 Backlog by project Project Country Client End Sines* Portugal Galp 2011 Borouge Project* United Arabs Emirates ADNOC/ Borealis 2010 Hydrocraker -Cartagena* Spain Repsol 2010 Phenolics Plant- Kayan* Saudi Arabia Sabic 2009 Refining Units Chile Enap 2009 Dung Quat Vietnam Petrovietnam 2009 Cok
Slide 5: 9M 2007 Backlog by Project
9M 2007 Backlog by Project Project Country Client End Saih Rawl (compression) Oman PDO 2009 Medgaz Algeria Medgaz 2009 RKF Algeria Cepsa/Sonatrach 2008 Upstream TFT Algeria Total/Repsol/Sonatrach 2008 and Gas Hawiyah Saudi Arabia Saudi Aramco 2008 Ju'aymah Saudi Arabia Saudi Aramco 2008 Telemetry Ku
Slide 6: 9M 2007 Backlog: €4,437M
“HEALTHY” BACKLOG 9M 2007 Backlog: € 4,437 M OBE REST ¾ More than 90% of backlog awarded in 2006/07 ¾ Approx. 75% awarded on OBE basis 5
Slide 7: Backlog Execution: Rabigh Project
BACKLOG EXECUTION: RABIGH PROJECT 6
Slide 8: Backlog Execution: Rabigh Project
BACKLOG EXECUTION: RABIGH PROJECT 7
Slide 9: Tecnicas Reunidas
TECNICAS REUNIDAS ¾ BACKLOG ¾ MAIN RECENT AWARDS ¾ SPOTLIGHT ON REGASIFICATION ¾ HUMAN RESOURCES ¾ 9M 2007 RESULTS 8
Slide 10: Main Recent Awards: Sines Refinery Expansion in Portugal
MAIN RECENT AWARDS Sines Refinery Expansion in Portugal Highlights ¾ Expansion of the Sines Refinery to increase conversion capacity and diesel production: new Hydrocracking unit, a Steam Reformer, other auxiliary new units and the revamping of existing processes such as Topping unit, Vacuum Desti
Slide 11: Main Recent Awards: Khabarovsk Refinery
MAIN RECENT AWARDS Khabarovsk Refinery Highlights ¾ New project that will increase the production of low sulphur diesel and kerosene up to 1.5 million tonnes per year: New Hydrocraking unit, Hydrotreating, Hydrogen production, Amine Regeneration, Sour Water Stripping and Sulphur Recovery together
Slide 12: Main Recent Awards: LNG Regasification Terminal in Mejillones
MAIN RECENT AWARDS LNG Regasification Terminal in Mejillones (chile) BOLIVIA PARAGUAY Mejillones CHILE Highlights ¾ New regasification terminal with capacity of 235.000 Nm3/h .The plant will provide natural gas for electric generation to be used mostly in the mining sector. ¾ In order to reduce exec
Slide 13: Regasification Projects in Spain
REGASIFICATION: 9 regasification projects in Spain BILBAO Two Projects BARCELONA 1,200,000 Nm³/h Three projects 600,000 Nm³/h CARTAGENA Two projects HUELVA 1,200,000 Nm³/h Two projects 1,300,000 Nm³/h 12
Slide 14: Regasification: 70% of Spanish Tank Storage Built by TR
REGASIFICATION: 70% of Spanish Tank Storage built by TR ALGA FERROL ASTURIAS BILBAO O A BL RR SE BARCELONA Underground Storage Existing SAGUNTO Under Construction Bidding Stage Basic Design CARTAGENA HUELVA CADIZ 13
Slide 15: Regasification: Commercial Strategy
REGASIFICATION: Commercial Strategy Europe East Asia South America Technology Licence Agreement with Kawasaki Heavy Industries for LNG Tanks worldwide 14
Slide 16: Tecnicas Reunidas
TECNICAS REUNIDAS ¾ BACKLOG ¾ MAIN RECENT AWARDS ¾ SPOTLIGHT ON REGASIFICATION ¾ HUMAN RESOURCES ¾ 9M 2007 RESULTS 15
Slide 17: Human Resources
HUMAN RESOURCES 1 Headquarters Spain 2 TR Engineering Satellites Employees Weight Employees 3,399 3,004 3.000 741 2,488 Non- 700 650 2.500 Technical 2,200 7% 600 19% 16% 2.000 500 14% 455 1.500 400 Technical 15% 81% 300 1.000 22% 13% 200 147 500 100 0 0 2004 2005 2006 9M 07 2004 2005 2006 9M 07 Tech
Slide 18: Tecnicas Reunidas
TECNICAS REUNIDAS ¾ BACKLOG ¾ MAIN RECENT AWARDS ¾ SPOTLIGHT ON REGASIFICATION ¾ HUMAN RESOURCES ¾ 9M 2007 RESULTS 17
Slide 19: Sales and EBITDA Growth
SALES and EBITDA GROWTH SALES EBITDA €m €m 1,406 1,235 78 74% 66 80% 60 82% 1,000 112% 806 43 685 40 31 500 20 0 0 2005 2006* 9M 06* 9M 07 2005 2006* 9M 06* 9M 07 *Adjusted figures 18
Slide 20: Margins: Enhancement and Protection
MARGINS: Enhancement and Protection EBITDA MARGIN EBIT MARGIN % % 5.6% 5.4% 5.3% 5.1% 4.6% 4.2% 3.8% 3.3% 2004 2005 2006* 9M 07 2004 2005 2006* 9M 07 *Adjusted figures 19
Slide 21: Financial Results
FINANCIAL RESULTS Profit and Loss Account 9M 07 9M 06* Var. 2006* € million Revenues 1,405.8 806.3 74.3% 1,234.5 EBITDA 78.3 42.9 82.5% 66.6 Margin 5.6% 5.3% 5.4% EBIT 75.0 40.9 83.4% 62.7 Margin 5.3% 5.1% 5.1% Net Financial Results 4.8 3.7 5.2 Profit before Taxes 79.8 44.6 79.1% 68.4 Taxes -3.3 -0.
Slide 22: Net Cash Position and Dividends Policy
NET CASH POSITION AND DIVIDENDS POLICY ¾ Net cash position at September 30th, 2007: € 256 million ¾ 2006 Dividends: € 0.64 per share (€ 35.8 million, 50% payout) 21
Slide 23: Unidas
= UNIDAS
Slide 24: Disclaimer
Disclaimer This document has been prepared by Tecnicas Reunidas S.A. (the Company) solely for use at presentations held in connection with the announcement of the Company's results for the nine months of 2007. This document contains forward-looking statements of the Company and/or its management. Th