Tecnicas Reunidas Sa · BME:TRE
Tecnicas Reunidas Sa — H1 2018 Earnings Presentation
23 slides from Tecnicas Reunidas Sa's earnings presentation, Jul 26, 2018
Slide 1: First Half 2018 Results Presentation
FIRST HALF 2018 RESULTS PRESENTATION July 26th 2018 Juan Lladó CEO 1
Slide 2: 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 for the first half 2018. This document contains forward-looking statements of the Company and/or its management. These
Slide 3: Index
INDEX Results 1H 2018 Execution Backlog Pipeline Financial Results Outlook 3
Slide 4: TR is about quality execution, backlog and pipeline
TR IS ABOUT… Results 1H 2018 QUALITY EXECUTION QUALITY BACKLOG QUALITY PIPELINE Delivering Fresh and healthy The recovery of strategic projects backlog, entirely the investment in for recurrent launched our industry is a clients reality 4
Slide 5: Index: Execution
INDEX Results 1H 2018 Execution Backlog Pipeline Financial Results Outlook 5
Slide 6: TR has a successful track record in delivering
TR HAS A SUCCESSFUL TRACK RECORD IN DELIVERING Results 1H 2018 In the last 10 years 33 projects in upstream 31 projects in refining 9 projects in petrochemicals 9 projects in power 25 FEEDs In the whole UPSTREAM POWER GENERATION energy value OIL AND MIDSTREAM POWER AND WATER TREATMENT NATURAL GAS WA
Slide 7: With quality… Al Zour Refinery, Kuwait
AL ZOUR REFINERY WITH QUALITY… KUWAIT Results 1H 2018 Value: USD 4 Billion (50% TR) Scope: Main processing units 7
Slide 8: With quality… Touat Gaz, Algeria
TOUAT GAZ WITH QUALITY… ALGERIA Results 1H 2018 Value: USD 1 Billion Scope: Natural gas gathering system and treatment complex 8
Slide 9: With quality… Rapid Refinery, Malaysia
RAPID REFINERY WITH QUALITY… MALAYSIA Results 1H 2018 Value: USD 1.5 Billion Scope: Main processing units 4 Construction and schedule awards 9 Quality and HSE awards 9
Slide 10: With quality… Jazan Refinery and IGCC, Saudi Arabia
JAZAN REFINERY AND IGCC WITH QUALITY… SAUDI ARABIA Results 1H 2018 Value: USD 2.6 Billion Scope: Hydrocracker Diesel hydro treatment units Off sites and utilities 10
Slide 11: With quality… Aegean Refinery, Turkey
AEGEAN REFINERY WITH QUALITY… TURKEY Results 1H 2018 Value: USD 3.5 Billion (33% TR) Scope: A new and complex grassroots refinery 11
Slide 12: Index: Backlog
INDEX Results 1H 2018 Execution Backlog Pipeline Financial Results Outlook 12
Slide 13: Quality in execution leads to quality in backlog
QUALITY IN EXECUTION LEADS TO QUALITY IN BACKLOG Results 1H 2018 20% 21% Strong presence in most resilient 2013 € 6.4 Bn market: Middle East 25% 2% 34% 11% Recurrent customers: a consequence of good execution 13% 1H 2018 Key and more complex jobs in Backlog each major investment €9 Bn 75% Middle Eas
Slide 14: Index: Pipeline
INDEX Results 1H 2018 Execution Backlog Pipeline Financial Results Outlook 14
Slide 15: Strong drivers in our industry
STRONG DRIVERS IN OUR INDUSTRY Results 1H 2018 Growth of demand Enhancing profitability IMO 2020 Enviromental requirements Petrochemicals Natural gas in energy matrix 15
Slide 16: And we will have the chance to execute more
AND WE WILL HAVE THE CHANCE TO EXECUTE MORE Results 1H 2018 Current Pipeline > 32 Billion USD 3% 14% Middle East 8% Asia 42% Europe 22% 41% Refining 12% Petrochemicals Africa South Am Upstream & Gas 12% North Am Power 17% 29% By Geographies By Products 16
Slide 17: Index: Financial Results
INDEX Results 1H 2018 Execution Backlog Pipeline Financial Results Outlook 17
Slide 18: Financial Results: Profit and Loss
FINANCIAL RESULTS Results 1H 2018 PROFIT AND LOSS € Million 1H 2018 1H 2017 Var. 2017 All projects already launched Revenues 2,259.5 2,628.0 -14% 5,068 Delay in recovery EBITDA 25.5 117.1 -78% 121.9 Slight quarterly improvement EBIT 17.1 104.6 -84% 100.4 Margin 0.8% 4.0% 2.0% Net financial results -
Slide 19: Net Cash Position
NET CASH POSITION Results 1H 2018 M€ Oil crisis effects on cash: o Peak exposure to the Middle 488 East, with higher needs of working capital o Customers cash constraints o Lower downpayments 231 219 207 TR customers are among the most reliable and solvent 2016 2017 1Q 2018 2Q 2018 19
Slide 20: Index: Outlook
INDEX Results 1H 2018 Execution Backlog Pipeline Financial Results Outlook 20
Slide 21: Outlook
OUTLOOK Results 1H 2018 Solid execution Credentials for future growth Recent awards already launched The backbone of our future performance Large and diversified pipeline The recovery of the industry is a reality Slow but solid margin recovery 21
Slide 22: Results 1H 2018
ti TECNICAS REUNIDAS Results 1H 2018 U all ail clients model strate w prospects lin Uaill desion SLFATEGIC a business top increase advantage lar e ee = progressively IDEN d D D satisfaction petrochemicals "OUSUY dD ac Kl O Or Uture Saudi rds X ECULIONFECOVETY neue P= unchdeliver refiningoil rt J cha
Slide 23: Tecnicas Reunidas
fi TECNICAS REUNIDAS