Tecnicas Reunidas SA · BME:TRE

Tecnicas Reunidas SA — H1 2006 Earnings Presentation

18 slides from Tecnicas Reunidas SA's earnings presentation, Jul 28, 2006

  1. Slide 1: Tecnicas Reunidas 1st Half 2006 Results Presentation

    TECNICAS REUNIDAS Juan Lladó CEO 1st Half 2006 Results Presentation July 28th, 2006

  2. Slide 2: 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 of 2006. This document contains forward-looking statements of the Company and/or its management. Th

  3. Slide 3: Index

    TECNICAS REUNIDAS Index Shareholders Global Outlook Our Performance Financial Results

  4. Slide 4: Shareholders

    TECNICAS REUNIDAS Shareholders Global Outlook Our Performance Financial Results

  5. Slide 5: Shareholder structure after the IPO

    Shareholder structure after the IPO SHARE HOLDER DISTRIBUTION FREE FLOAT DISTRIBUTION SPANISH FREE BBVA, FLOAT, RETAIL 6% 17.6% USA 19% SPAIN 27% 38.1% ARALTEC RW 10% and Others UK 38% 44.3% ¾ IPO of existing shares: at € 17 per share, listed on the 21st of June

  6. Slide 6: Global Outlook

    TECNICAS REUNIDAS Shareholders Global Outlook Our Performance Financial Results

  7. Slide 7: Strong Sector Momentum Driving Contracting Growth

    Strong Sector Momentum Driving Contracting Growth Brent Price Evolution (2003 – 2006) (1) Evolution of European Refining Margins (2002-2006) (2) US$/bbl US$/bbl 90 18 80 16 70 14 60 50 12 40 10 30 8 20 6 10 4 0 2 2003-01 2003-03 2003-06 2003-09 2003-11 2004-02 2004-05 2004-08 2004-10 2005-01 2005-04

  8. Slide 8: Strong Sector Momentum Driving Contracting Growth

    Strong Sector Momentum Driving Contracting Growth Global Refining Capacity vs. Petroleum Product Demand(2) Mbbl/d „ Worldwide expected investment 2004A- 90 2030E: 80 „ Oil & Gas: c. 70 $6,000bn(1) 60 „ Refining: 50 $487bn(1) 40 „ Middle East 30 expected investment 2005E-2010E: 20 1971 1973 1975 1977

  9. Slide 9: Our Performance

    TECNICAS REUNIDAS Shareholders Global Outlook Our Performance Financial Results

  10. Slide 10: Awards and backlog

    Awards and backlog Awards Backlog €m €m 3,000 2,659 1,458 1.500 1,373 2,500 2,000 1,712 1.000 713 1,500 983 500 307 1,000 736 500 0 0 2003 2004 2005 1H 2006 2003 2004 2005 1H 2006 Oil and gas Power ( 1) Does not include backlog from Infrastructure & Industries business

  11. Slide 11: Current Backlog

    Current Backlog Contracted Name Location Client End Date Total Backlog Size(1) Rabigh Saudi Arabia Saudi Aramco 2008 Huelva Spain CEPSA 2009 Coker Chile ENAP 2008 Nitric Acid Plant Chile ENAEX 2008 Refining & HDS – Bio Bio Chile ENAP 2008 Petrochemicals Luján/Ensenada Argentina Repsol 2008 Pemex IV

  12. Slide 12: Key Awards

    Key Awards Rabigh Highlights Description „ TR is the sole contractor „ New refinery „ Consolidates relationship with „ Vacuum unit key client Saudi Aramco „ Gasoil hydrotreatment „ 2 sulphur recovery trains „ Alkylation, isomerization, Key Dates acid water regeneration, „ Contract signed: March 2006

  13. Slide 13: Human Resources

    Human Resources Headquarters and Central Production Center Satellite Engineering Centers Employees Weight Employees 3,000 2,488 2,761 Non- 700 2,500 Technical 2,200 3% 2,098 20% 540 600 2,000 14% 455 3.1% 500 1,500 400 Technical 80% 1,000 300 12.9% 13.3% 147 5.4% 200 500 100 17 0 0 2003 2004 2005 1H

  14. Slide 14: Financial Results

    TECNICAS REUNIDAS Shareholders Global Outlook Our Performance Financial Results

  15. Slide 15: Sales and EBIT growth

    Sales and EBIT growth SALES ADJUSTED EBITDA(1) €m €m 30 26 500 9% 0% 06: 5 485 25 6: 9 – 1H 0 1H 05 1 H H 05– 1 380 20 18 305 13 15 10 5 0 0 1H 2005 2H 2005 1H 2006 1H 2005 2H 2005 1H 2006 Oil and gas Power (1) Excluding IPO costs

  16. Slide 16: Financial Results: Adjusted Profit and Loss Account

    Financial Results Adjusted Profit and Loss Account (IPO costs and sale of assets excluded) 1H 06 2H 05 1 H05 € million Revenues 485.0 380.4 304.7 ƒ Revenue growth Adjusted EBITDA (1) due to recent 25.5 17.9 13.4 growth in backlog EBITDA Margin 5.3 % 4.7% 4.4% Net Financial Results 2.8 2.8 4.0 ƒ Bett

  17. Slide 17: Financial Results: Profit and Loss Account

    Financial Results Profit and Loss Account € million 1H 06 2H 05 1H 05 Revenues 485.0 380.4 304.7 EBITDA 24.2 17.9 13.4 EBITDA Margin 5.0% 4.7% 4.4% ƒ Including IPO costs of € 1.3 Net Financial Results 2.8 2.8 4.0 million Profit before Taxes 38.7 19.8 16.8 Taxes 5.2 -2.7 -2.3 ƒ Including € 13 million

  18. Slide 18: Net Cash Position

    Net Cash Position € million 280 261 260 239 240 220 200 180 160 140 120 120 100 80 60 40 20 0 1H05 2H05 1H06 ¾ Cash out of € 72 million paid in 2006 first half, coming from 2005 ordinary dividends and reserve distribution Net cash calculated as cash and cash equivalents plus assets at fair value les

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