Tecnicas Reunidas SA · BME:TRE
Tecnicas Reunidas SA — 9M 2008 Earnings Presentation
18 slides from Tecnicas Reunidas SA's earnings presentation, Nov 11, 2008
Slide 1: Nine Months 2008 Results Presentation
TECNICAS REUNIDAS Juan Lladó CEO Nine Months 2008 Results Presentation 11th of November 2008
Slide 2: Awards and Backlog, Market Outlook, 9M 2008 Financial Results
TECNICAS REUNIDAS ¾ AWARDS AND BACKLOG ¾ MARKET OUTLOOK ¾ 9M 2008 FINANCIAL RESULTS 1
Slide 3: 9M 08 Awards and Backlog
9M 08 AWARDS AND BACKLOG Awards (1) Backlog (1) €m €m 4,500 4,713 4,720 5,000 4,000 3,582 3,500 4,000 2,621 3,000 3,040 2,500 3,000 1,485 1,590 2,000 1,712 2,000 1,500 1,000 1,000 500 0 0 2005 2006 2007 9M 08 2005 2006 2007 9M 08 Oil and gas Power (1) Does not include data from Infrastructure & Indu
Slide 4: Healthy Backlog, Recent Diversified
HEALTHY BACKLOG RECENT DIVERSIFIED Rest of Europe 39% 2% 11% Middle East 31% 13% Spain 21% 57% Saudi Arabia ROW 7% 20% ≤ 2005 2006 2007 2008 DE - RISKED 15% 22% 63% OBE LSTK OTHER 3
Slide 5: 9M 08 Backlog by Project
9M 08 BACKLOG BY PROJECT Project Country Client End Hydrocraker Danube* Hungary MOL 2011 Elefsina Greece Hellenic Petroleum 2011 Khabarovsk Russia OC Alliance 2011 Sines* Portugal Galp 2011 Hydrocraker -Cartagena Spain Repsol 2011 Crude Distillation Unit Morocco Samir 2011 Mohammedia Refining and Al
Slide 6: 9M 08 Backlog by Project
9M 08 BACKLOG BY PROJECT Project Country Client End Mejillones Chile Codelco/Suez 2009 Saih Rawl (compression) Oman PDO 2009 Medgaz Algeria Medgaz 2009 Upstream RKF Algeria Cepsa/Sonatrach 2008 and Gas TFT Algeria Total/Repsol/Sonatrach 2008 Ju’aymah Saudi Arabia Saudi Aramco 2008 Hawiyah Saudi Arab
Slide 7: Main Recent Awards
MAIN RECENT AWARDS Alkylation Unit, Chile Highlights ¾ Contract on a “Cost Plus Fee” basis, continuation of the FEED contract awarded a year ago ¾ The new alkylation unit will produce a high value additive to increase the octane amount of the refinery derivative products. The production capacity wil
Slide 8: Successful Execution of the Rabigh Project
SUCCESSFUL EXECUTION OF THE RABIGH PROJECT Commissioning - November 2008 Highlights ¾ One of the highest Vacuum towers in the world with 14.5 meters in diameter and 70 meters of height ¾ Assembled 18,000 tons of steel structure, equivalent to almost three Eiffel Towers. 4,000 tons of Piping installe
Slide 9: Successful Execution of the Rabigh Project
SUCCESSFUL EXECUTION OF THE RABIGH PROJECT 8
Slide 10: Awards and Backlog, Market Outlook, 9M 2008 Financial Results
TECNICAS REUNIDAS ¾ AWARDS AND BACKLOG ¾ MARKET OUTLOOK ¾ 9M 2008 FINANCIAL RESULTS 9
Slide 11: Market Outlook Under Current Environment
MARKET OUTLOOK UNDER CURRENT ENVIRONMENT ¾ HIGH LEVEL OF BIDDING IN THE 120 NEXT MONTHS 100 ¾ CLIENTS AND CONTRACTORS LOOKING FOR WAYS TO IMPROVE 80 NEW PROJECT PRICING UNDER CURRENT COST ENVIRONMENT 60 ¾ NO CANCELLATIONS OF 40 PROJECTS IN TR’S BIDDING PIPELINE 20 ¾ RECENT SELECTION TO PARTICIPATE I
Slide 12: Awards and Backlog, Market Outlook, 9M 2008 Financial Results
TECNICAS REUNIDAS ¾ AWARDS AND BACKLOG ¾ MARKET OUTLOOK ¾ 9M 2008 FINANCIAL RESULTS 11
Slide 13: Sales and EBITDA Growth
SALES and EBITDA GROWTH SALES EBITDA €m €m +27% 1,792 2,000 +35% 106 120 1,406 100 78 1,500 80 806 1,000 60 43 464 40 21 500 20 0 0 9M 05 9M 06 9M 07 9M 08 9M 05 9M 06 9M 07 9M 08 12
Slide 14: Margins: Enhancement and Protection
MARGINS: Enhancement and Protection EBITDA MARGIN EBIT MARGIN % % 7.0% 5.9% 5.4% 5.7% 7.0% 5.7% 5.1% 5.4% 6.0% 4.6% 6.0% 4.2% 5.0% 5.0% 4.0% 4.0% 3.0% 3.0% 2.0% 2.0% 1.0% 1.0% 0.0% 0.0% 2005 2006 2007 9M 08 2005 2006 2007 9M 08 13
Slide 15: Financial Results
FINANCIAL RESULTS Profit and Loss Account € million 9M 08 9M 07 Var. 2007 Revenues 1,791.5 1,405.8 27% 2,005.2 EBITDA 105.5 78.3 35% 113.3 Margin 5.9% 5.6% 5.7% EBIT 101.3 75.0 35% 108.0 Margin 5.7% 5.3% 5.4% Net Financial Results 11.6 4.5 6.0 Profit before Taxes 113.2 79.8 42% 114.6 Taxes -10.9 -3.
Slide 16: Net Cash Position and Dividends Policy
NET CASH POSITION AND DIVIDENDS POLICY ¾ 2007 Dividend: € 54.5 M ¾ Net cash position at 30th September, 2008: € 537 million Net Cash Position 600 500 400 300 537 422 200 318 100 0 2006 2007 9M 08 15
Slide 17: 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 nine months of 2008. This document contains forward-looking statements of the Company and/or its manageme
Slide 18: UNIDAS
if UNIDAS