Tecnicas Reunidas Sa · BME:TRE
Tecnicas Reunidas Sa — FY2011 Earnings Presentation
21 slides from Tecnicas Reunidas Sa's earnings presentation, Feb 29, 2012
Slide 1: Year 2011 Results Presentation
TECNICAS REUNIDAS Juan Lladó CEO Year 2011 Results Presentation 29th of February 2012
Slide 2: Agenda
TECNICAS REUNIDAS ¾ COMMERCIAL STRATEGY ¾ AWARDS ¾ HUMAN RESOURCES ¾ FY 2011 FINANCIAL RESULTS ¾ CURRENT ENVIRONMENT 1
Slide 3: Commercial Strategy: Geographical Diversification and New Key Clients
COMMERCIAL STRATEGY: GEOGRAPHICAL DIVERSIFICATION AND NEW KEY CLIENTS 2011 NEW AWARDS HUNGARY FRANCE RUSSIA TURKEY PERU AUSTRALIA BOLIVIA 2
Slide 4: Commercial Strategy: Product Expansion
COMMERCIAL STRATEGY: PRODUCT EXPANSION Nitric acid & ammonium nitrate: TR’s own technology for a top quality product. Momentum in mining industry: high demand of explosives. Since 1970, TR has been involved in 38 projects. Current strategy is to emphasize in EPC projects. CHEMICALS Peru Saudi
Slide 5: FY 2011 Backlog
FY 2011 BACKLOG Backlog €m 7,000 6,000 5,730 5,387 4,713 4,711 4,820 5,000 4,000 3,000 2,000 1,000 0 2007 2008 2009 2010 2011 Oil and gas Power 4
Slide 6: Commercial Strategy: Backlog Geographical Split
COMMERCIAL STRATEGY: BACKLOG GEOGRAPHICAL SPLIT 2009 2010 2011 Middle Europe Europe Spain Middle 36% 42% Europe East 0.1% East 34% 37% ROW 46% Spain 3% 3% ROW Spain 2% Latam ROW 12% Latam Middle Latam 2% 6% 22% East 34% 21% € 4,820 M € 5,730 M € 5,387 M 5
Slide 7: Agenda
TECNICAS REUNIDAS ¾ COMMERCIAL STRATEGY ¾ AWARDS ¾ HUMAN RESOURCES ¾ FY 2011 FINANCIAL RESULTS ¾ CURRENT ENVIRONMENT 6
Slide 8: 4Q 2011 Awards: Petrochemical complex Nitratos del Peru, Peru
4Q 2011 AWARDS Petrochemical complex Nitratos del Peru, Peru Highlights ¾ New chemical complex for Nitratos del Peru in Paracas, Peru. ¾ Project includes: ammonia, nitric acid, ammonium nitrate and associated OSBL units. TR own technology and know-how (Espindesa). ¾ Estimated value for TR: € 400 mil
Slide 9: 4Q 2011 Awards: Gran Chaco, Bolivia
4Q 2011 AWARDS Gran Chaco, Bolivia Highlights ¾ LSTK for a new natural gas liquid separation plant in Gran Chaco, Bolivia. The new plant will separate ethane and other liquid gases from methane (Natural Gas). ¾ Project includes: cryogenic dehydration, recompression, fractionation and utilities units
Slide 10: 4Q 2011 Awards: Dufi CCGT, Hungary
4Q 2011 AWARDS Dufi CCGT, Hungary Highlights ¾ Main contractor for the CCGT in Duna´s refinery in Szazhalombatta, Hungary. ¾ Contract includes: project management, engineering, procurement and construction of a 860 MW CCGT. ¾ LSTK contract with a value of € 455 million. ¾ MOL Group is the main Hunga
Slide 11: Recent Awards: Petrochemical complex Incitec Pivot, Australia
RECENT AWARDS Petrochemical complex Incitec Pivot, Australia Highlights ¾ New chemical complex for Incitec Pivot in Newcastle, Australia. ¾ Project includes: nitric acid and ammonium nitrate units. TR own technology and know-how (Espindesa). ¾ Incitec Pivot is a world leader producer of petrochemica
Slide 12: Agenda
TECNICAS REUNIDAS ¾ COMMERCIAL STRATEGY ¾ AWARDS ¾ HUMAN RESOURCES ¾ FY 2011 FINANCIAL RESULTS ¾ CURRENT ENVIRONMENT 11
Slide 13: Human Resources
HUMAN RESOURCES Headquarters Spain + TR Abroad Employees CAGR 2006-2011 8% 7,000 5,955 5,949 6,000 5,571 5,232 5,000 4,412 4,000 3,000 2,000 1,000 0 2007 2008 2009 2010 2011 12
Slide 14: Agenda
TECNICAS REUNIDAS ¾ COMMERCIAL STRATEGY ¾ AWARDS ¾ HUMAN RESOURCES ¾ FY 2011 FINANCIAL RESULTS ¾ CURRENT ENVIRONMENT 13
Slide 15: Sales and EBITDA
SALES AND EBITDA SALES EBITDA €m -5.7% €m 3,000 2,771 -2.1% 2,634 2,613 180 163 2,479 156 160 2,500 148 150 2,000 120 1,500 90 1,000 60 500 30 0 0 2008 2009 2010 2011 2008 2009 2010 2011 14
Slide 16: Financial Results
FINANCIAL RESULTS Profit and Loss Account € million 2011 2010* Var. Revenues 2,612.6 2,771.4 -5.7% EBITDA 159.5 162.9 -2.1% Margin 6.1% 5.9% EBIT 151.3 155.5 -2.7% Margin 5.8% 5.6% Net Financial Results 6.7 10.4 Profit Before Taxes 155.2 163.5 -5.1% Taxes -19.9 -26.2 Net Income 135.3 136.2 -0.6% *20
Slide 17: Net Cash Position and Dividends
NET CASH POSITION AND DIVIDENDS ¾ 2011 Net cash position: € 740 million ¾ 2010 Dividend: € 1.34 per share ¾ Dividend proposal out of 2011 profits: € 1.355 per share Net Cash Position €m 900 796 740 575 600 525 300 0 2008 2009 2010 2011 16
Slide 18: Agenda
TECNICAS REUNIDAS ¾ COMMERCIAL STRATEGY ¾ AWARDS ¾ HUMAN RESOURCES ¾ FY 2011 FINANCIAL RESULTS ¾ CURRENT ENVIRONMENT 17
Slide 19: Current Environment
CURRENT ENVIRONMENT ¾ Positive environment for energy investments worldwide ¾ Successful commercial effort in Latam, Asia and Europe compensates the reduction of business in the Middle East. Projects launch outside the Middle East often affected by: – Slower funding set-up process – Slower pace in l
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 year 2011. This document contains forward-looking statements of the Company and/or its management. These forwar
Slide 21: UNIDAS
= UNIDAS