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Technip Energies First Half 2021 Earnings Presentation

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Technip Energies First Half 2021 Earnings Presentation Strengthening Capital structure and positioning for the Energy Transition H1 2021 Results Arctic LNG 2 Project Disclaimer This Presentation is intended for informational purposes only for the shareholders of Technip Energies. This Presentation is not intended for distribution in jurisdictions that require prior regulatory review and authorization to distribute a Presentation of this nature. Forward looking statements This Presentation contains “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of Technip Energies’ operations or operating results. Forward-looking statements are often identified by the words “believe”, “expect”, “anticipate”, “plan”, “intend”, “foresee”, “should”, “would”, “could”, “may”, “estimate”, “outlook”, and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on Technip Energies’ current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on Technip Energies. While Technip Energies believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting Technip Energies will be those that Technip Energies anticipates. All of Technip Energies’ forward-looking statements involve risks and uncertainties (some of which are significant or beyond Technip Energies’ control) and assumptions that could cause actual results to differ materially from Technip Energies’ historical experience and Technip Energies’ present expectations or projections. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements. For information regarding known material factors that could cause actual results to differ from projected results, please see Technip Energies’ risk factors set forth in Technip Energies’ filings with the U.S. Securities and Exchange Commission, which include amendment no. 4 to Technip Energies’ registration statement on Form F-1 filed on February 11, 2021. Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. Technip Energies undertakes no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law. Technip Energies – H1 2021 Results 2 Welcome Business highlights Arnaud Pieton CEO Financial highlights Bruno Vibert Outlook CFO Technip Energies – H1 2021 Results 3 Business highlights Arnaud Pieton - CEO Technip Energies – H1 2021 Results 4 H1 2021 Key highlights Building momentum and strengthening Energy Transition positioning Solid operational progress; Reaching key project Launched BlueH2 by raising FY 2021 margin milestones; Arctic LNG 2 T.EN™; creation of guidance to 5.8% - 6.2% first modules completed Offshore Wind BU €3.2bn 6.3% €17.5bn Adjusted Revenue Adjusted Recurring Adjusted Backlog2 EBIT1 Margin Financial inf ormation is presented under an adjusted IFRS f ramework, which records Technip Energies’ proportionate share of equity af filiates and restates the share related to non-controlling interests (see Appendix 9.0 of H1 2021 Results Release), and excludes restructuring expenses, merger and integration costs, and litigation costs. 1 Adjusted recurring EBIT: adjusted prof it bef ore net f inancial expense and income taxes adjusted f or items considered as non-recurring. Technip Energies – H1 2021 Results 5 2 Backlog comprises secured & conf irmed orders f rom customers which will generate f uture rev enues with a high probability .Backlog at H1 2021 benef ited f rom a f oreign exchange impact of €154.5 million. Key operational highlights Delivering on critical milestones LNG Offshore • Arctic LNG 2: Completion of first • ENI Coral FLNG. Topsides and modules in China. offshore activities ongoing. On track Awaiting for sail-away from SHI1 yard in South • Sempra LNG, IEnova, & Korea by year-end. TotalEnergies Energia Costa image "Je t'en pris" Azul: Two thirds of process • Petronas Kasawari WHP. Wellhead equipment ordered. Site platform jacket & topsides fabrication mobilization started. completed, loaded out for installation. Arctic LNG 2 ENI Coral FLNG Downstream TPS2 • ExxonMobil Beaumont Refinery • Ynsect Project: Foundation stone expansion project: Delivery of laying ceremony at Ynfarm with 17,000 tons of fabricated modules representatives of the French Awaiting from Asia to the refinery in Texas. Government. image • Long Son olefins plant: 90% • Hong Kong offshore LNG project: progress (in tons) on mechanical Loading Systems shipped 12 works associated with the furnaces. loading arms. ExxonMobil Beaumont Refinery Loading Systems 1 Samsung Heav y Industries. 2 Technology , Products & Serv ices. Technip Energies – H1 2021 Results 6 Winning strategically important awards for TPS Commercial successes across key Energy Transition areas Northern lights CCS4 - First Hummingbird® Loading Systems award catalyst supply agreement for liquefied CO2 for LanzaJet biorefinery, US equipment • Ethanol-to-ethylene catalyst. • Contract for the world first • First commercial demonstration liquefied CO2 marine scale integrated biorefinery loading arms. at Freedom Pines. Two contracts for Neste Indian Oil Corporation Rotterdam Renewables Para Xylene and Purified TPS1 Production Platform, the TPS Terephthalic Acid Netherlands complex project, India 5 • EPsCm2 for production of • Large EPCC contract. Sustainable Aviation Fuel. • Delivery of new 1.2 MMTPA • FEED3 for Neste's next possible PTA plant and associated renewable products refinery facilities. in Rotterdam. TPS Project Delivery 1 Technology , Products & Serv ices 2 Engineering, Procurement, serv ices and Construction management. Technip Energies – H1 2021 Results 7 3 Front-End Engineering and Design. 4 Carbon Capture and Storage 5 Engineering, Procurement, Construction and Commissioning. Technology Driving development innovation Delivering First 100% hydrogen firing Partnership with leading with proprietary LSV®1 biotech company to burner technology integrate their bio- smart successful, avoiding direct fermentation process CO2 emissions through fuel with Hummingbird® to solutions to substitution. convert CO2 to ethylene. our customers and partners Technology Technology integration enabling SnapLNG™ - A Modularization and productized solution, technology integration developed in cooperation expertise leading to first with Air Products, based on “Blue Ammonia” project a compact modular design pre-FEED award in for mid-scale LNG plants. Northern Europe. 1 Large Scale Vortex Burner. Technip Energies – H1 2021 Results 8 Financial highlights Bruno Vibert - CFO Technip Energies – H1 2021 Results 9 Robust H1 2021 performance €3.2bn €204m €100m Adjusted Revenue Adjusted Recurring EBIT1 Adjusted Net profit2 H1 2021 Financial Highlights €7.9bn 1.8 €2.5bn Order Intake Book-to-bill, TTM3 Net cash Financial inf ormation is presented under an adjusted IFRS f ramework, which records Technip Energies’ proportionate share of equity af filiates and restates the share related to non-controlling interests (see Appendix 9.0 of H1 2021 Results Release), and excludes restructuring expenses, merger and integration costs, and litigation costs. 1 Adjusted recurring EBIT: adjusted prof it bef ore net f inancial expense and income taxes adjusted f or items considered as non-recurring. Technip Energies – H1 2021 Results 10 2 Net prof it attributable to Technip Energies Group. 3 Trailing 12-months. Raising 2021 margin guidance Continued confidence in our outlook Effective Revenues EBIT margin1 tax rate €6.5 - 7.0bn 5.8% - 6.2% 30 - 35% 5.5% - 6.0% Financial inf ormation is presented under an adjusted IFRS f ramework, which records Technip Energies’ proportionate share of equity af filiates and restates the share related to non-controlling interests (see Appendix 9.0 of H1 2021 Results Release), and excludes restructuring expenses, merger and integration costs, and litigation costs. Additional guidance items include: (1) Yamal net contract liability reduction of €150 – 200 million; and (2) depreciation and amortization expense of approximately €100 million. Technip Energies – H1 2021 Results 11 1 Adjusted recurring EBIT: adjusted prof it bef ore net f inancial expense and income taxes adjusted f or items considered as non-recurring. Guidance is stated excluding one-of f costs of €30 million. Projects Delivery Growth trajectory confirmed as strong execution continues Revenue EBIT1 Backlog2 in € Million in € Million in € Billion +X% 7% - 8% 35% • Revenue growth Y/Y; ramp-up on Arctic LNG and recent major awards 2,650 200 2,623 182 16.3 • Lower margins anticipated due to early 168 2,600 2,452 175 project phasing and corporate cost 15.0 150 allocation; execution remains solid2,550 12.1 125 2,500 • Backlog strengthened owing to major 11.0 LNG and downstream awards 100 7.4% 2,450 75 6.4% 2,400 7.0 1.9 50 2,350 Book-to-Bill, 25 TTM3 2,300 0 3.0 H1 2020 H1 2021 H1 2020 H1 2021 H1 2020 H1 2021 EBIT margin Financial inf ormation is presented under an adjusted
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