Tecnicas Reunidas Sa · BME:TRE
Tecnicas Reunidas Sa — H1 2011 Earnings Presentation
21 slides from Tecnicas Reunidas Sa's earnings presentation, Sep 1, 2011
Slide 1: 2011 First Half Results Presentation
TECNICAS REUNIDAS Juan Lladó CEO 2011 First Half Results Presentation 1st of September 2011
Slide 2: Index
INDEX TECNICAS REUNIDAS ¾ DELIVERY OF MAJOR PROJECTS ¾ BACKLOG & AWARDS ¾ 1H 2011 FINANCIAL RESULTS ¾ CURRENT ENVIRONMENT 1
Slide 3: Delivery of Major Projects: Cartagena, Repsol, Spain
DELIVERY OF MAJOR PROJECTS CARTAGENA, REPSOL, SPAIN Refinery Expansion • EPC - LSTK • EPCDistillation, hydrocraker and hydro- desulphurisation units • Processing capacity: 210,000 bpd 2
Slide 4: Delivery of Major Projects: Jubail, SATORP, Saudi Arabia
DELIVERY OF MAJOR PROJECTS JUBAIL, SATORP, SAUDI ARABIA Grassroot Refinery • EPC- LSTK • Crude vacuum unit • Processing capacity: 400,000 bpdc 3
Slide 5: Delivery of Major Projects: Moerdijk, Essent, Holland
DELIVERY OF MAJOR PROJECTS MOERDIJK, ESSENT, HOLLAND Combined Cycle • EPC- LSTK together with GE • Capacity: 426 MW 4
Slide 6: Index
TECNICAS REUNIDAS ¾ DELIVERY OF MAJOR PROJECTS ¾ BACKLOG & AWARDS ¾ 1H 2011 FINANCIAL RESULTS ¾ CURRENT ENVIRONMENT 5
Slide 7: 1H 2011 Backlog
1H 2011 BACKLOG Backlog €m 7,000 6,000 5,730 4,713 4,711 4,820 5,000 4,491 4,000 3,000 2,000 1,000 0 2007 2008 2009 2010 1H 11 Oil and gas Power 6
Slide 8: 1H 2011 Backlog and Recent Awards
1H 2011 BACKLOG Backlog €m 7,000 6,000 5,730 4,713 4,711 4,820 5,000 4,491 RECENT AWARDS 4,000 ¾ Tüpras LSTK conversion 3,000 ¾ Desalination plant in 2,000 Australia 1,000 0 2007 2008 2009 2010 1H 11 Oil and gas Power 7
Slide 9: 1H 11 Backlog Analysis by Geography and Contract Type
1H 11 BACKLOG ANALYSIS BY CONTRACT TYPE BY GEOGRAPHY Europe 7% 38% Spain Rest of 1% Middle East 11% 42% 51% Saudi ROW Arabia 22% 28% OBE LSTK OTHER 8
Slide 10: 2Q 2011 Awards: Normandy Refinery Project, France
2Q 2011 AWARDS Normandy Refinery Project, France Highlights ¾ EPC for a new Gasoil Hydrodesulphurization Unit (HDS) for Total’s Normandy refinery. ¾ Capacity: 3.840 t/d. It is designed to produced desulphurized diesel with just 8 ppm sulphur weight. ¾ Starting operations: 2013. ¾ Project value: €100
Slide 11: 2Q 2011 Awards: Botas Project, Turkey
2Q 2011 AWARDS Botas Project, Turkey Highlights ¾ EPC for a natural gas compression station in Turkey. ¾ Project includes: the design and detail engineering, the procurement of all equipment and materials, as well as the construction and the start up for the compression station facilities. ¾ Complet
Slide 12: 2Q 2011 Awards: Volgograd Lukoil Refinery, Russia
2Q 2011 AWARDS Volgograd Lukoil Refinery, Russia Highlights ¾ FEED services contract for a hydrocracker complex in Volgograd, Russia. ¾ Hydrocracker technology: UOP. ¾ Volgograd refinery processing capacity: 160,000 bpd (8 million t/y). ¾ More than 200,000 engineering hours. ¾ Lukoil is one the ten
Slide 13: Recent Awards: Desalination Plant, Perth
RECENT AWARDS Desalination Plant, Perth Highlights ¾ The project involves the design, turnkey construction, operation and maintenance of a desalination plant in Perth, Australia ¾ Project awarded to the “Southern Seawater Alliance” consortium: TR (38%), Valoriza (38%), AJ Lucas (19%) and WorleyParso
Slide 14: Index
TECNICAS REUNIDAS ¾ DELIVERY OF MAJOR PROJECTS ¾ BACKLOG & AWARDS ¾ 1H 2011 FINANCIAL RESULTS ¾ CURRENT ENVIRONMENT 13
Slide 15: Sales and EBITDA Growth
SALES AND EBITDA GROWTH SALES EBITDA €m €m 3,000 2,771 2,634 180 163 156 2,500 150 2,000 +0.1% 120 +2.4% 1,500 1,366 1,367 81 83 90 1,000 60 500 30 0 0 2009 2010 1H 10 1H 11 2009 2010 1H 10 1H 11 14
Slide 16: Financial Results
FINANCIAL RESULTS Profit and Loss Account 1H 11 1H 10 Var. 2010* € million Revenues 1,366.8 1,366.0 0.1% 2,771.4 82.5 80.6 2.4% 162.9 EBITDA 6.0% 5.9% 5.9% Margin 78.8 77.2 2.0% 155.5 EBIT Margin 5.8% 5.6% 5.6% Net Financial Results -2.9 9.1 10.4 Profit Before Taxes 76.1 85.8 -11.3% 163.5 Taxes -10.
Slide 17: Net Cash Position and Dividends
NET CASH POSITION AND DIVIDENDS ¾ 1H 2011 Net cash position: € 601 million ¾ 2010 Dividend: € 1.34 per share ¾ Company bought back shares equivalent to 1.03% of total equity in July and August Net Cash Position €m 900 796 575 601 600 525 300 0 2008 2009 2010 1H 11 16
Slide 18: Index
TECNICAS REUNIDAS ¾ DELIVERY OF MAJOR PROJECTS ¾ BACKLOG & AWARDS ¾ 1H 2011 FINANCIAL RESULTS ¾ CURRENT ENVIRONMENT 17
Slide 19: Current Environment
CURRENT ENVIRONMENT ¾ Aggressive Asian competition in the Middle East ¾ Slow launch of projects where TR was preselected outside the Middle East Even so, ¾ Positive economic environment worldwide for energy investments ¾ Ambitious commercial strategy and strong bidding pipeline: Key geographical a
Slide 20: 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 first half of 2011. This document contains forward-looking statements of the Company and/or its management. The
Slide 21: UNIDAS
= UNIDAS