Tecnicas Reunidas Sa · BME:TRE
Tecnicas Reunidas Sa — Tecnicas Reunidas Sa Ord — Q1 2025 Earnings Presentation
19 slides from Tecnicas Reunidas Sa's earnings presentation, May 14, 2025
Slide 1: Q1 2025 Results
Q1 2025 Results May 14th, 2025 Juan Lladó – Executive Chairman Eduardo San Miguel - CEO
Slide 2: Index
INDEX 1| Q1 2025 highlights 2| Pipeline and main awards 3| New growth areas 4| Financial results 5| Final remarks
Slide 3: Index: Q1 2025 highlights
INDEX 1| Q1 2025 highlights 2| Pipeline and main awards 3| New growth areas 4| Financial results 5| Final remarks
Slide 4: Q1 2025 highlights
Q1 2025 highlights Order Intake EBIT EUR 3.7 billion EUR 56 million Backlog Steady EBIT margin growth EUR 14.9 billion 4.3% Robust Sales performance Solid Net Cash position EUR 1,307 million EUR 423 million 4
Slide 5: Index: Pipeline and main awards
INDEX 1| Q1 2025 highlights 2| Pipeline and main awards 3| New growth areas 4| Financial results 5| Final remarks
Slide 6: Record backlog driven by strong investment cycle
Record backlog driven by strong investment cycle Order intake, M€ Backlog, M€ Lower Zakum + Vaca Muerta +41% 3,685 14,928 2,730 10,963 12,387 12,479 10,602 1,265 771 37 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 6
Slide 7: Lower Zakum 3.3 B€
Lower Zakum Key features • TR sole contractor • Strategic project for ADNOC Location • Schedule: 5 years UAE • Engineering man-hours: 1 million • Madrid´s Engineering Hub will lead the project Amount supported by India and UAE engineering centers 3.3 B€ • Maximization of modular design Client Al Oma
Slide 8: Robust pipeline ahead of us 66.2 B€
Robust pipeline ahead of us 24-month pipeline by geographies Total Commercial Pipeline North America 28% Europe 66.2 B€ 9% Middle East Decarbonization projects pipeline 55% 12.9 B€ Rest of the World 2.0 B€ EPC track & Services 7% 8
Slide 9: Index: New growth areas
INDEX 1| Q1 2025 highlights 2| Pipeline and main awards 3| New growth areas • US • Power • Energy Transition 4| Financial results 5| Final remarks
Slide 10: US: The world's energy structure is changing
The world´s energy structure is changing and TR is prepared to be part of it US • Traditional energy sources leading to new growth • Relevant investments planned related to Upstream, Our clients in North America Promising growth Midstream and LNG developments for the future • Unprecedent opportuniti
Slide 11: Power: a short-term opportunity for TR
The world´s energy structure is changing and TR is prepared to be part of it Power • Power Generation developments have turned into a key driver for the world´s energy structure A short-term opportunity for TR • TR has strategic partnerships with all four OEMs • Strong presence in the regions where
Slide 12: Energy transition
The world´s energy structure is changing and TR is prepared to be part of it Energy • TR & track are already well positioned to become a prominent actor in the products and regions where decarbonization is transition going to take place Blue and Carbon capture SAF Progressing slowly, but green ammon
Slide 13: MoU with BBVA
MoU with BBVA Collaboration framework to promote projects linked to the decarbonization of the economy BBVA and track will jointly collaborate: o in the identification of new growth opportunities o in the search for financing BBVA has identified decarbonization and clean technologies as two of the p
Slide 14: Index: Financial results
INDEX 1| Q1 2025 highlights 2| Pipeline and main awards 3| New growth areas 4| Financial results 5| Final remarks
Slide 15: P&L
P&L Sales, M€ 1,307 Sales speed up as backlog 1,003 1,091 1,125 1,233 execution accelerates Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 EBIT, M€ EBIT margin Operating margin gradually improving as new projects’ 56.4 47.2 49.8 profitability starts to 40.2 43.9 3.8% 4.1% 4.3% contribute Q1 2024 Q2 2024 Q3
Slide 16: Balance sheet
Balance sheet Net cash position, M€ +27% Equity, M€ 423 394 333 Equity SEPI PPL 318 298 575 626 500 175 Q1 2024 H1 2024 9M 2024 FY 2024 Q1 2025 175 175 258 400 451 175 325 Gross cash, M€ Gross debt, M€ 83 2022 2023 2024 Q1 2025 +10% -21% 1,034 1,018 1,058 960 802 686 625 635 2022 2023 2024 Q1 2025 2
Slide 17: Index: Final remarks
INDEX 1| Q1 2025 highlights 2| Pipeline and main awards 3| New growth areas 4| Financial results 5| Final remarks
Slide 18: Final remarks
Final remarks • Solid backlog provides high sales visibility • Consistent delivery reinforces margin expansion 2025 Revenues >5,200 M€ Guidance EBIT margin ~4.5% Revenues >5,500 M€ TR’s ambition EBIT margin >5% towards 2026 Back to dividend policy with 2026 results 18
Slide 19: Final remarks
Final remarks • Solid backlog provides high sales visibility • Consistent delivery reinforces margin expansion 2025 Revenues >5,200 M€ Guidance EBIT margin ~4.5% CMD update in Revenues >5,500 M€ September TR’s ambition towards 2026 EBIT margin >5% Back to dividend policy 2025 with 2026 results 19
Tecnicas Reunidas Sa Ord — Q1 2025 Earnings Presentation on 6ix