Technip Energies NV · EURONEXT:TE
Technip Energies NV — 9M 2023 Earnings Presentation
36 slides from Technip Energies NV's earnings presentation, Nov 2, 2023
Slide 1: Reaffirming: 9M 2023 Results
Reaffirming Strong positioning and outlook in LNG and energy transition markets; full year outlook confirmed 9M 2023 Results
Slide 2: Forward looking statements
Forward looking statements This Press Release contains forward-looking statements that reflect Technip Energies’ (the “Company”) intentions, beliefs or current expectations and projections about the Company's future results of operations, anticipated revenues, earnings, cashflows, financial conditio
Slide 3: Welcome
Welcome Business highlights Arnaud Pieton CEO Financial highlights Bruno Vibert Outlook CFO Technip Energies – 9M 2023 Results 3
Slide 4: Business highlights
Business highlights Arnaud Pieton - CEO Technip Energies – 9M 2023 Results 4
Slide 5: 9M 2023 – Key highlights
9M 2023 – Key highlights Substantial growth in TPS and Project Delivery sequential revenue inflection Strong operational Sustained momentum in Significant increase in early performance and profitability TPS orders and strategic engagement and opportunity set supports full year outlook development fo
Slide 6: Key operational highlights
Key operational highlights Maintaining strong execution across the portfolio LNG Downstream TPS Coral FLNG Assiut Neste Ren. Expansion • Eni Coral FLNG: Provisional Acceptance • Assiut Hydrocracking Complex: Heavy lifting of • Neste Ren. Expansion Rotterdam: Civil works progressing and piping pre-fa
Slide 7: Positioning for sustained long-term growth
Positioning for sustained long-term growth Continued TPS commercial momentum and strategic progress Technology Investing for Commercial collaboration the future bp Kwinana Biorefinery Lanzajet collaboration strengthened 1% 90% • EPF for H2 production unit in support of planned • Integrating compleme
Slide 8: Financial highlights
Financial highlights Bruno Vibert - CFO Technip Energies – 9M 2023 Results 8
Slide 9: 9M 2023 performance underpins FY outlook
9M 2023 performance underpins FY outlook € 4.4bn 7.2% € 1.15 Adjusted revenue Adjusted recurring EBIT Adjusted diluted EPS 9M 2022: € 4.9bn 9M 2022: 6.9% 9M 2022: € 1.25 9M 2023 financial highlights € 9.5bn € 18.0bn BBB Adjusted order intake Backlog S&P credit rating1 9M 2022: € 2.7bn 9M 2022: € 13.
Slide 10: Project Delivery
Project Delivery Strong margins on lower revenue; backlog supports return to growth Revenue Recurring EBIT Backlog in € million in € million in € million • Revenue: Continued ramp-up on Qatar NFE - 24% - 17% + 36% drives Q/Q growth; Y/Y impacted by loss of revenue associated to Russia LNG projects.
Slide 11: Technology, Products & Services
Technology, Products & Services Substantial growth in segment financials Revenue Recurring EBIT Backlog in € million in € million in € million +X% • Revenue: Driven by technology, proprietary + 48% + 55% + 16% equipment, and services and studies in sustainable fuels and energy transition. 2,088 • Ma
Slide 12: Other key metrics and balance sheet
Other key metrics and balance sheet Higher Y/Y due to ESOP1 and incremental costs Corporate costs € 51.2 million associated to strategic and pre-development initiatives. Income Statement Net financial income € 60.2 million Improved interest rates on cash & cash equivalents. Consistent with upper-end
Slide 13: Solid underlying free cash flow
Solid underlying free cash flow Cashflow bridge in € million • Operating cash flow: €40 million; Free cash flow1: €7 million, impacted by €349 million working capital outflow: • Project Delivery portfolio maturity and ALNG2 project close- out activities. • Free cash flow, excluding working capital i
Slide 14: Outlook
Option 2 Outlook Arnaud Pieton - CEO Technip Energies – 9M 2023 Results 14
Slide 15: Low-carbon opportunity set outpacing conventional
Low-carbon opportunity set outpacing conventional Front-end engagement supporting T.EN’s business transition Energy transition engagement Changing mix New customers Energy transition FEED New energy Energy transition 2X FEED studies vs 20211 40%+ manhours as % of total2 ~30 transition customers vs ~
Slide 16: T.EN positioning for robust LNG outlook
T.EN positioning for robust LNG outlook Delivering low-carbon LNG with certainty and accelerated time to market A dynamic LNG market A strong opportunity set 51.8 75+ 140+ • Key geographies: North Americas, Africa Middle East Mtpa Mtpa Mtpa • 20% of pre-FEED / FEED pipeline considering SnapLNG Globa
Slide 17: Plastic circularity – a future market for T.EN
Plastic circularity – a future market for T.EN Driven by demand and enabled by technology Global rPET market1 T.EN – an active agent of circularity +5% CAGR through chemical recycling 2023 2033 12 Mtpa+ New client in 2023 20 Mtpa Experienced in plastics & polymers and technology scale-up Know-how fo
Slide 18: Impact-driven ESG yielding results
Impact-driven ESG yielding results Improving recognition on our sustainability journey 1 ESOP 2023: Sharing value with our people T.EN sustainability recognition • Successful 1st global share employee offering; 2X oversubscribed Confirming leadership with AAA rating maintained • Proportion of employ
Slide 19: Key takeaways
Key takeaways Solid 9M results with sequential revenue inflection in Project Delivery and substantial growth in TPS; confirming FY outlook Reaffirming Strong commercial momentum and strategic progress in TPS; technology investment and collaboration support growth outlook Significant expansion in fro
Slide 20: Q&A
Q&A Technip Energies – 9M 2023 Results 20
Slide 21: Appendix
Option 2 Appendix Technip Energies – 9M 2023 Results 21
Slide 22: Company guidance for 2023
Company guidance for 2023 Effective Revenue EBIT margin tax rate €5.7 - 6.2bn 7.0% - 7.5% 26% - 30% Financial information is presented under adjusted IFRS (see Appendix 8.0 of 9M 2023 Results Release). Reconciliation of IFRS to non-IFRS financial measures are provided in appendices. Technip Energies
Slide 23: Backlog schedule
Backlog schedule Total €18,030m adjusted backlog 3M 2023 2024 €1,451m €4,923m 2025+ €11,656m Adjusted backlog at September 30, 2023, has been impacted by foreign exchange of €(39.3) million. Technip Energies – 9M 2023 Results 23
Slide 24: Adjusted statements of income – 9M 2023
Adjusted statements of income – 9M 2023 Financial information is presented under adjusted IFRS (see Appendix 8.0 of 9M 2023 Results Release). Reconciliation of IFRS to non-IFRS financial measures are provided in appendices. Technip Energies – 9M 2023 Results 24
Slide 25: Adjusted statements of income – Q3 2023
Adjusted statements of income – Q3 2023 Financial information is presented under adjusted IFRS (see Appendix 8.0 of 9M 2023 Results Release). Reconciliation of IFRS to non-IFRS financial measures are provided in appendices. Technip Energies – 9M 2023 Results 25
Slide 26: Adjusted statements of income: IFRS reconciliation 9M 2023
Adjusted statements of income Reconciliation between IFRS and Adjusted – 9M 2023 Financial information is presented under adjusted IFRS (see Appendix 8.0 of 9M 2023 Results Release). Reconciliation of IFRS to non-IFRS financial measures are provided in appendices. Technip Energies – 9M 2023 Results
Slide 27: Adjusted statements of income: IFRS reconciliation 9M 2022
Adjusted statements of income Reconciliation between IFRS and Adjusted – 9M 2022 Financial information is presented under adjusted IFRS (see Appendix 8.0 of 9M 2023 Results Release). Reconciliation of IFRS to non-IFRS financial measures are provided in appendices. Technip Energies – 9M 2023 Results
Slide 28: Adjusted statements of income: IFRS reconciliation Q3 2023
Adjusted statements of income Reconciliation between IFRS and Adjusted – Q3 2023 Financial information is presented under adjusted IFRS (see Appendix 8.0 of 9M 2023 Results Release). Reconciliation of IFRS to non-IFRS financial measures are provided in appendices. Technip Energies – 9M 2023 Results
Slide 29: Adjusted statements of income: IFRS reconciliation Q3 2022
Adjusted statements of income Reconciliation between IFRS and Adjusted – Q3 2022 Financial information is presented under adjusted IFRS (see Appendix 8.0 of 9M 2023 Results Release). Reconciliation of IFRS to non-IFRS financial measures are provided in appendices. Technip Energies – 9M 2023 Results
Slide 30: Adjusted statements of financial position
Adjusted statements of financial position Financial information is presented under adjusted IFRS (see Appendix 8.0 of 9M 2023 Results Release). Reconciliation of IFRS to non-IFRS financial measures are provided in appendices. Technip Energies – 9M 2023 Results 30
Slide 31: Adjusted statements of cashflows
Adjusted statements of cashflows Financial information is presented under adjusted IFRS (see Appendix 8.0 of 9M 2023 Results Release). Reconciliation of IFRS to non-IFRS financial measures are provided in appendices. Technip Energies – 9M 2023 Results 31
Slide 32: Differentiated capital structure
Differentiated capital structure Net liquidity, September 30, 2023 Net cash, September 30, 2023 € million € million 80 135 750 Commercial paper & other 596 the Notes1 4,178 3,508 3,508 2,776 Cash RCF Outstanding Liquidity Cash Gross debt Net cash commercial paper • Robust liquidity position comprise
Slide 33: Stock information and ADR
Stock information and ADR Stock ADR program Listed on Euronext Paris / SBF 120 index Ticker code: TE / ISIN code: NL0014559478 Exchange: Over-the-Counter Free float: 140.9 million / Outstanding shares: 181.6 million Ratio: 1 ADR : 1 ORD Market Cap on Sept 30, 2023: €4.3 billion Share price € Volume
Slide 34: Technip Energies upcoming investor events
Technip Energies upcoming investor events Opportunities to interact with company management and investor relations Investor Relations Team November 2, 2023 Nine Months 2023 Results Phillip Lindsay Vice President, Investor Relations November 6, 2023 J.P. Morgan Global Energy Conference, London Tel: +
Slide 35: A diversified shareholder structure
A diversified shareholder structure Ownership split Geographic split As a % of shares outstanding Institutional investors Retail Rest of World Other incl. 2.6% hedge funds 5.5% 4.3% Institutional T.EN treasury (long only) Europe 15.5% 2.5% 35.7% France 22.7% 21.9% Strategic 64.9% shareholders1 UK &
Slide 36: Investor Relations
Investor Relations Phillip Lindsay Vice President, Investor Relations Tel: +44 20 7585 5051 [email protected] Investor Relations Corentin Cargouët Manager, Investor Relations Tel: +33 6 71 21 12 45 [email protected]