Slide 1: Q1 2024 Earnings Presentation
Q1 2024 Earnings Presentation April 25, 2024
Slide 2: Disclaimer
Disclaimer Forward-looking statements This communication contains “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements usually relat
Slide 3: Operational highlights and financial results
Operational highlights and financial results
Slide 4: Q1 2024 Operational summary
Q1 2024 Operational summary Highlights Total Company inbound of $2.8 billion; Subsea orders of $2.4 billion, representing a book-to-bill of 1.4 Subsea inbound driven by new technologies that unlock opportunities in both new and mature offshore basins Solid operational performance drives adjust
Slide 5: Q1 2024 Financial results
Q1 2024 Financial results Sequential highlights Total Company adjusted EBITDA of $257 million, excluding foreign exchange: $2.8B Subsea increased due to higher project volume, driven in part by higher offshore activity in Brazil, as Inbound orders well as improved earnings mix from backlog Sur
Slide 6: Subsea opportunities in the next 24 months
Subsea opportunities in the next 24 months1 EQUINOR Fram Sør EQUINOR BP Johan Sverdrup Ph 3 Kaskida CHEVRON BP Aphrodite Tiber ENI ENERGEAN SHELL Katlan Northern Hub Leopard EXXONMOBIL MELLITAH ENI Guyana Project 7 Bahr Essalam ONGC Gendalo / Gandang TOTALENERGIES KG-DWN-98/2 Cluster 3 REPSOL ENI Bl
Slide 7: 2024 Full-year financial guidance
2024 Full-year financial guidance1 As of February 22, 2024 2 Subsea Surface Technologies Revenue in a range of $7.2 – 7.6 billion Revenue in a range of $1.2 – 1.35 billion Adjusted EBITDA margin in a range of 15.5 – 16.5% Adjusted EBITDA margin in a range of 13 – 15% TechnipFMC Corporate e
Slide 8: Q1 2024 Cash flow and net debt
Q1 2024 Cash flow and net debt Free cash flow (in $ millions) $(179)M Net Debt (127) (In millions, unaudited) 186 (172) (52) March 31, 2024 (91) 952 Cash and cash equivalents $ 697 Short-term debt and current portion of long-term debt (137) 697 Long-term debt, less current portion (887) Net debt $ (
Slide 9: Backlog scheduling provides visibility
Backlog scheduling provides visibility Subsea1 Surface Technologies as of March 31, 2024 as of March 31, 2024 2026+ 2024 $4.3B $4.3B 2024 $422M $12.5 $1.0 billion 2025+ billion $615M 2025 $3.9B 1 Backlog does not capture all revenue potential for Subsea Services Q1 2024 Earnings Call Presentation |
Slide 10: Appendix
Appendix Q1 2024 Earnings Call Presentation | 10
Slide 11: Glossary
Glossary Term Definition Term Definition CAGR Compound Annual Growth Rate iLOF™ Integrated Life of Field CCS Carbon Capture and Storage LNG Liquefied Natural Gas ESG Environmental, Social and Governance MMb/d Million Barrels per Day FID Final Investment Decision Mtpa Million Metric Tonnes per Annum
Slide 12: Q1 2024 Earnings Call Presentation: non-GAAP definitions
Exhibit 6 TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, except per share data, unaudited) In addition to financial results determined in accordance with U.S. generally accepted accounting principles (GAAP), the first quarter 2024 Ear
Slide 13: Adjusted EBITDA reconciliation
Exhibit 7 TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, unaudited) Three Months Ended March 31, 2024 December 31, 2023 March 31, 2023 Net income attributable to TechnipFMC plc $ 157.1 $ 53.0 $ 0.4 Income (loss) attributable to non-co
Slide 14: Segment reconciliation, three months ended March 31, 2024
Exhibit 8 TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, unaudited) Three Months Ended March 31, 2024 Surface Corporate Foreign Subsea Technologies Expense Exchange, net Total Revenue $ 1,734.8 $ 307.2 $ — $ — $ 2,042.0 Operating prof
Slide 15: Segment reconciliation, three months ended December 31, 2023
Exhibit 8 TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, unaudited) Three Months Ended December 31, 2023 Surface Corporate Foreign Subsea Technologies Expense Exchange, net Total Revenue $ 1,720.5 $ 357.2 $ — $ — $ 2,077.7 Operating p
Slide 16: Segment reconciliation, three months ended March 31, 2023
Exhibit 8 TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, unaudited) Three Months Ended March 31, 2023 Foreign Surface Corporate Exchange, Subsea Technologies Expense net Total Revenue $ 1,387.6 $ 329.8 $ — $ — $ 1,717.4 Operating prof
Slide 17: Net debt reconciliation
Exhibit 9 TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, unaudited) March 31, 2024 December 31, 2023 March 31, 2023 Cash and cash equivalents $ 696.8 $ 951.7 $ 522.3 Short-term debt and current portion of long-term debt (136.6) (153.8
Slide 18: Free cash flow reconciliation
Exhibit 10 TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, unaudited) Three Months Ended March 31, 2024 2023 Cash provided (required) by operating activities $ (126.7) $ (386.2) Capital expenditures (52.0) (57.3) Free cash flow (defici
Slide 19: TechnipFMC
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