Tecnicas Reunidas Sa · BME:TRE
Tecnicas Reunidas Sa — Q1 2009 Earnings Presentation
22 slides from Tecnicas Reunidas Sa's earnings presentation, May 11, 2009
Slide 1: First Quarter 2009 Presentation Results
TECNICAS REUNIDAS Juan Lladó CEO First Quarter 2009 Presentation Results May 11, 2009
Slide 2: Index
INDEX TECNICAS REUNIDAS ¾ AWARDS ¾ BACKLOG ¾ EXECUTION: SAFETY TRACK RECORD ¾ 1Q 2009 FINANCIAL RESULTS ¾ MARKET OUTLOOK 1
Slide 3: 1Q 2009 Awards
1Q 2009 AWARDS Awards €m 4,500 3,582 4,000 3,500 2,621 3,000 2,207 2,500 2,000 1,500 848 1,000 500 0 2006 2007 2008 1Q 09 2
Slide 4: 1Q 2009 Awards: Package B SAS project, Abu Dhabi
1Q 2009 AWARDS Package B SAS project, Abu Dhabi Highlights ¾ Lump Sum Turnkey (LSTK) contract for the development of the Sahil and Shah oil fields. Contract value: $1,300 million ¾ Project in JV with CCC Group (TR 60%) ¾ Scope includes oil production flow lines, primary separation through central an
Slide 5: 1Q 2009 Awards: Two LNG terminals, Canary Islands
1Q 2009 AWARDS Two LNG terminals, Canary Islands Highlights ¾ Two EPC Lump Sum Turnkey (LSTK) contracts in JV with Acciona (50/50) ¾ Two Liquefied Natural Gas (LNG) terminals in Granadilla (Tenerife) and Arinaga (Gran Canaria) ¾ The project involves a 150,000 Nm3/hour regasification plant, a 150,000
Slide 6: 1Q 2009 Awards: Maritime terminal, Port of Algeciras
1Q 2009 AWARDS Maritime terminal and storage and distribution park, Port of Algeciras Highlights ¾ EPC Lump Sum Turnkey (LSTK) ¾ Development of a maritime terminal and a storage and distribution park at the Algeciras Port ¾ Liquid storage capacity of 300,000 cubic metres ¾ Total investment of the pr
Slide 7: Index
TECNICAS REUNIDAS ¾ AWARDS ¾ BACKLOG ¾ EXECUTION: SAFETY TRACK RECORD ¾ 1Q 2009 FINANCIAL RESULTS ¾ MARKET OUTLOOK 6
Slide 8: 1Q 2009 Backlog
1Q 2009 BACKLOG Backlog €m 6,000 5,002 4,713 4,711 5,000 4,000 3,040 3,000 2,000 1,000 0 2006 2007 2008 1Q 09 Oil and gas Power 7
Slide 9: Healthy Backlog by Geography and Client
HEALTHY BACKLOG BY GEOGRAPHY BY CLIENT Rest of Europe 36% Middle East IOCs 46% NOCs 40% 20% Spain 20% Saudi Arabia ROW 8% UTILITIES & 16% OTHERS 14% 8
Slide 10: Healthy Backlog: Customers and Products
HEALTHY BACKLOG: CUSTOMERS AND PRODUCTS Upstream Infrastructures Refining Petrochemicals Power Technology & Gas & Industries PDO KOC PDO 9
Slide 11: Index
TECNICAS REUNIDAS ¾ AWARDS ¾ BACKLOG ¾ EXECUTION: SAFETY TRACK RECORD ¾ 1Q 2009 FINANCIAL RESULTS ¾ MARKET OUTLOOK 10
Slide 12: Execution: Safety Track Record
EXECUTION: SAFETY TRACK RECORD Total Construction Worked Hours in 2008 = 55,149,060 1 60,000 55,149 0.9 50,000 0.8 0.74 0.7 40,000 0.6 0.62 34,461 0.5 30,000 0.4 0.28 16,715 20,000 0.3 0.2 0.15 12,326 0.22 0.12 10,000 0.1 0.11 0.07 0 0 2005 2006 2007 2008 TRIR LTIR Construction Worked Hours 000’s Ka
Slide 13: Index
TECNICAS REUNIDAS ¾ AWARDS ¾ BACKLOG ¾ EXECUTION: SAFETY TRACK RECORD ¾ 1Q 2009 FINANCIAL RESULTS ¾ MARKET OUTLOOK 12
Slide 14: Sales and EBITDA Growth
SALES and EBITDA GROWTH SALES EBITDA €m €m 148 3,000 2,479 160 2,500 2,005 140 113 120 2,000 100 1,500 +7% +8% 80 620 60 34 37 1,000 580 40 500 20 0 0 2007 2008 1Q 08 1Q 09 2007 2008 1Q 08 1Q 09 13
Slide 15: Margin Progression
MARGIN PROGRESSION EBITDA MARGIN EBIT MARGIN % % 7.0% 5.7% 6.0% 5.9% 7.0% 5.7% 5.7% 5.4% 5.4% 5.1% 6.0% 6.0% 5.0% 5.0% 4.0% 4.0% 3.0% 3.0% 2.0% 2.0% 1.0% 1.0% 0.0% 0.0% 2006 2007 2008 1Q 09 2006 2007 2008 1Q 09 14
Slide 16: Financial Results
FINANCIAL RESULTS Profit and Loss Account € million 1Q 09 1Q 08 Var. 2008 Revenues 620.0 580.0 6.9% 2,478.5 EBITDA 36.6 33.8 8.3% 148.3 Margin 5.9% 5.8% 6.0% EBIT 35.0 32.6 7.5% 142.3 Margin 5.7% 5.6% 5.7% Net Financial Results 2.2 1.8 4.7 Profit before Taxes 37.2 34.3 8.4% 147.5 Taxes -3.0 -2.1 -7.
Slide 17: Net Cash Position and Dividend Policy
NET CASH POSITION AND DIVIDEND POLICY ¾ Net cash position at March 31st, 2009: € 689 million ¾ 2008 Dividend proposal: € 1.29 per share (€ 70.1 million, 50% payout) DPS progression Net Cash Position €/Share €m 1.5 +33% 800 1.3 700 1.1 600 0.65 * 500 0.9 0.52 400 689 0.7 575 300 0.5 0.34 422 0.64 200
Slide 18: Index
TECNICAS REUNIDAS ¾ AWARDS ¾ BACKLOG ¾ EXECUTION: SAFETY TRACKRECORD ¾ 1Q 2009 FINANCIAL RESULTS ¾ MARKET OUTLOOK 17
Slide 19: Market Outlook: Facing the crisis from a strong base
MARKET OUTLOOK: Facing the crisis from a strong base FACING THE CRISIS … ¾ Overhead cost control ¾ Mantaining a variable cost structure ¾ Efficient procurement to lower costs for our clients ¾ Adapting to customer needs 18
Slide 20: Market Outlook: From a strong base
MARKET OUTLOOK: Facing the crisis from a strong base … FROM A STRONG BASE ¾ Healthy backlog with projects that span until 2012 ¾ Expanded client base that allows access to a larger share of the market ¾ Large and diversified bidding pipeline in: Refining Upstream & Gas Power ¾ Execution under
Slide 21: 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 quarter of 2009. This document contains forward-looking statements of the Company and/or its management.
Slide 22: UNIDAS
y UNIDAS