Tecnicas Reunidas SA · BME:TRE
Tecnicas Reunidas SA — H1 2007 Earnings Presentation
20 slides from Tecnicas Reunidas SA's earnings presentation, Jul 27, 2007
Slide 1: First half 2007 Results Presentation
TECNICAS REUNIDAS Juan Lladó CEO First half 2007 Results Presentation 27th of July 2007
Slide 2: Index
INDEX TECNICAS REUNIDAS ¾ BACKLOG ¾ SPOTLIGHT IN POWER ¾ 1H 2007 RESULTS ¾ HUMAN RESOURCES/ OUTLOOK 1
Slide 3: Delivery: Execution of Current Backlog
DELIVERY: Execution of Current Backlog New record figure for Backlog Awards (1) Backlog (1) €m €m 3,000 4,000 3,779 2,621 3,500 2,500 3,040 3,000 2,000 1,608 2,500 1,485 1,500 2,000 1,712 1,500 1,000 713 983 1,000 500 500 0 0 2004 2005 2006 1H 07 2004 2005 2006 1H 07 (1) Does not include data from I
Slide 4: 1H 2007 Backlog by project
1H 2007 Backlog by project Project Country Client End Kirikkale Turkey Tüpras 2007 Polymer Plant Spain General Electric 2007 Guanxi Refinery China PetroChina 2007 Hydrocraker - Huelva Spain Cepsa 2008 Rabigh Saudi Arabia Saudi Aramco 2008 Nitric Acid Plant Chile Enaex 2008 Refining and HDS—Bio Bio C
Slide 5: 1H 2007 Backlog by Project
1H 2007 Backlog by Project Project Country Client End GC-28 Kuwait KOC 2007 Telemetry Kuwait KOC 2007 Ju'aymah Saudi Arabia Saudi Aramco 2008 Upstream Hawiyah Saudi Arabia Saudi Aramco 2008 and Gas TFT Algeria Total/Repsol/Sonatrach 2008 RKF Algeria Cepsa/Sonatrach 2008 Medgaz Algeria Medgaz 2009 Sa
Slide 6: 1H 2007 Backlog: Fresh Backlog
“FRESH” BACKLOG 1H 2007 Backlog AWARDED 06/07 REST ¾ Approx. 85 % of backlog awarded in 2006/07 ¾ Approx. 75 % awarded in OBE basis 5
Slide 7: Index: Spotlight in Power
TECNICAS REUNIDAS ¾ BACKLOG ¾ SPOTLIGHT IN POWER ¾ 1H 2007 RESULTS ¾ HUMAN RESOURCES/ OUTLOOK 6
Slide 8: Power Division Experience
POWER DIVISION EXPERIENCE 1971: Creation of Power Division. 29,000 MW 1999: TR started the first combined cycle projects Combine Cycles and 31 CCGTs Leadership in Spain cogeneration 12,800 MW Partnership with GE Market leader in Spain 8 plants Nuclear plants Partnership with GE 8,700 MW New prototyp
Slide 9: Power: Combined Cycles References
POWER: COMBINED CYCLES REFERENCES IBERDROLA 400 MW IBERDROLA 400 MW ENDESA-GAS NATURAL 2 x 400 MW EDP PORTUGAL 800 MW ENDESA 400 MW IBERDROLA 800 MW IBERDROLA 400 MW MEKTA GRECIA 400 MW IBERDROLA 800 MW ENDESA-GAS NATURAL 2 x 400 MW ENDESA 220 MW TERMOPERNAMBUCO BRASIL 550 MW SPAIN ABROAD 8
Slide 10: Power: Combined Cycles Current Projects
POWER: COMBINED CYCLES CURRENT PROJECTS ENDESA As Pontes 800 MW GAMA POWER SYSTEMS RUSSIA 400 MW GLOBAL 3 Escatrón 276 MW GAS NATURAL Plana del Vent 800 MW METKA GREECE 420 MW QP+QWE QATAR 2,000 MW SNC LAVALIN ALGERIA 1,200 MW AdG GREECE 316 MW ENDESA Barranco de Tirajana 230 MW SPAIN, TURN KEY PROJ
Slide 11: Power: Combined Cycles Recent Awards
POWER: COMBINED CYCLES RECENT AWARDS GAZ DE FRANCE Montoir de Bretagne, France 400 MW ENDESA San Adrián de Besós , Barcelona 800 MW (2 over 1) GAS NATURAL Puerto de Barcelona 800 MW (2 single shaft) ENDESA Granadilla II, Tenerife 230 MW (2 over 1) ¾ GE power island (9FB) ¾ Balance of Plant (BOP) for
Slide 12: Index: 1H 2007 Results
TECNICAS REUNIDAS ¾ BACKLOG ¾ SPOTLIGHT IN POWER ¾ 1H 2007 RESULTS ¾ HUMAN RESOURCES/ OUTLOOK 11
Slide 13: Sales and EBITDA Growth
SALES and EBITDA GROWTH SALES EBITDA €m €m 1,235 66 80% 913 60 1,000 88% 112% 51 685 98% 40 485 31 500 26 20 0 0 2005 2006* 1H06* 1H 07 2005 2006* 1H 06* 1H 07 *Adjusted figures 12
Slide 14: Margins: Enhancement and Protection
MARGINS: Enhancement and Protection EBITDA MARGIN EBIT MARGIN % % 5.5% 5.4% 5.3% 5.1% 4.6% 4.2% 3.8% 3.3% 2004 2005 2006* 1H 07 2004 2005 2006* 1H 07 *Adjusted figures 13
Slide 15: Financial Results
FINANCIAL RESULTS Profit and Loss Account 1H 07 1H 06* Var. 2006* € million Revenues 913.1 485.0 88.2% 1,234.5 EBITDA 50.6 25.5 98.3% 66.6 Margin 5.5% 5.3% 5.4% EBIT 48.4 24.2 100.1% 62.7 Margin 5.3% 5.0% 5.1% Net Financial Results 4.1 2.8 5.2 Profit before Taxes 52.5 27 94.2% 68.4 Taxes -3.0 -0.6 -
Slide 16: Net Cash Position and Dividends Policy
NET CASH POSITION AND DIVIDENDS POLICY ¾ Net cash position at June 30th, 2007: € 258 million ¾ 2006 Dividends: € 0.64 per share (€ 35.8 million, 50% payout) Interim dividend: € 0.30 per share paid in January (€ 16.8 million) Complementary dividend : € 0.34 per share paid in July (€ 19.0 million)
Slide 17: Index: Human Resources / Outlook
TECNICAS REUNIDAS ¾ BACKLOG ¾ SPOTLIGHT IN POWER ¾ 1H 2007 RESULTS ¾ HUMAN RESOURCES/ OUTLOOK 16
Slide 18: Human Resources and Outlook
HUMAN RESOURCES AND OUTLOOK 1 Headquarters Spain 2 TR Engineer Satellites Employees Weight Employees 3,216 3,004 3,000 Non- 700 650 663 2,488 2,500 Technical 2,200 1% 600 19% 16% 2,000 500 14% 455 1,500 400 Technical 8% 81% 300 1,000 22% 13% 200 147 500 100 0 0 2004 2005 2006 1H 2007 2004 2005 2006
Slide 19: UNIDAS
= UNIDAS
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 results of 2007. This document contains forward-looking statements of the Company and/or its managem