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Financial Results
CONFERENCE CALL
Cesena
15th May 2013
2013 First Quarter Results
Ended 31s t March 2013
1. TREVI Group
2. 1Q 2013 Financial Results
3. Appendix
4. Q&A
2
Rome (ITALY) Metro Line Soilmec Hydromill
FOUNDATION
ENGINEERING
TREVI Group: Competitive Advantage
3
Special foundation services
Special foundation rigs
Oil drilling rigs
Oil drilling services
GROUP SYNERGIES
CONSTANT INNOVATION
OUR COMPETITVE
ADVANTAGE
STRENGTHENING MARKET LEADERSHIP
OIL&GAS
Thailand
Venezuela
U.S.A.
Mozambique
Nigeria
U.A.E.
Oman
Italy
Colombia
Canada
Qatar
New Zealand
Peru
Austria
Venezuela
Argentina
AlgeriaPhilippines
Panama
Angola
Colombia
Saudi Arabia
Libya
PETREVENDivision
TREVIDivision
Italy
Chile
Denmark
Kuwait
Turkey
Brazil
4Argentina
Brazil
Hong Kong
34 Operating Companies in 25 Countries – 48 Business Units
TREVI Group: Services Sector Presence
Germany
Japan
China
Singapore
Italy
U.S.A.
France
UK
India
Germany
U.S.A.
Australia
Italy
Brazil
Algeria
U.A.E.
Hong Kong
Colombia
Russia
DRILLMECDivision
SOILMECDivision
5
18 Operating Companies in 13 Countries – 21 Business Units
TREVI Group: Mechanical Sector Presence
� Stable revenue generationRevenues generated same level of last year
� Improved marginality on track for delivery YoY enhanced marginality demonstrates more normalizing performance
� Very robust backlogEasing operative situation in markets in which we operate
� Reduced Net Financial Position vs 1Q12The NFP improved if compared to the same period last year
� Strong momentum in the Oil & Gas business Continuous ongoing interest from the market
6
TREVI Group: 1Q 2013 Key messages
Group’s Divisions OverlookSP
EC
IA
L F
OU
ND
ATIO
NS SER
VIC
ES
•Strong order backlog
•Easing Outlook
•Increase in Revenues & Margins
•Large infrastructure sector stable & construction sector under pressure
OIL &
GA
S S
ER
VIC
ES
•Organic & sound business growth
•Activities progressing regularly
•HH rigs operating with targeted efficiency rates
•Overall clear operations outlook
OIL &
GA
S R
IG
S
•Encouraging feedback from OTC (Offshore Technology Conference) in Houston, Texas
•Robust order pipeline
•Offshore momentum
•Onshore continuing demand
•Exploration and Production on track
•HH series on the right growth track
SP
EC
IA
L F
OU
ND
ATIO
NS R
IG
S
•Positive feedback from Bauma 2013 in Munich
•Increased interest and awareness
•Mature markets are showing some signs of recovery
•To grasp opportunities in high growth markets
•Higher competition hindering pricing and marginality
•Lower visibility in order backlog
7
8
DRILLMEC: 2013 OTC Houston, Texas
� May 2013
22 Investor
Meetings
+ 2 Site Visits
+
Full Sales force
deployed
9
SOILMEC: Bauma 2013 – New Models
� April 2013
16 Investor
Meetings
+
Full Sales
force deployed
1. TREVI Group
2. 1Q 2013 Financial Results
3. Appendix
4. Q&A
10
Copenaghen (DENMARK) CITYRINGEN work site
11
1Q 2013 Results
� Stable consolidated revenues Continued volume of sales
� Improving marginalityBettering business marginality
� Very robust backlog Significant visibility on future revenues
� Net Financial Position reducedThe net indebtedness declined vs same period last year
Revenues: €300m €308m vs 1Q12
EBITDA: €33m €32m vs 1Q12
EBIT: €17m €19m vs 1Q12
PBT: €9m €13m vs 1Q12
Backlog: €1,109m €939m vs 1Q12
NFP: €467m €495m vs 1Q12
1Q 2013 % 1Q 2012 % ∆%
VALUE OF PRODUCTION 309,3 325,6 ?5,0%
REVENUES 299,7 100,0% 307,8 100,0% ?2,6%
EBITDA 32,7 10,9% 31,6 10,3% 3,4%
EBIT 17,4 5,8% 19,0 6,2% ?8,6%
FINANCIAL COSTS (6,1) B2,0% (4,0) B1,3% 52,3%
TAXES 4,4 1,5% 4,7 1,5% 7,4%
NET PROFIT 2,7 0,9% 8,2 2,7% ?66,9%
1Q 2013 1Q 2012 ∆%
NET CAPITAL EMPLOYED 923,0 930,3 ?0,8%
EQUITY 455,1 434,8 4,7%
NET FINANCIAL POSITION 467,2 495,6 5,7%
BACKLOG 1.108,9 939,2 18,1%
1Q 2013 1Q 2012
NFP / EBITDA 3,57X 3,91X
NFP / EQUITY 1,03X 1,14X
1Q 2013 1Q 2012
EMPLOYEES 7.549 6.068
12
Financial Highlights 1Q13 yoy
Eur mln
Eur mln
Based on non Consolidated data13
Services
Sector
48,8%
Mechanical
Sector
51,2%
Drilling
Sector
44,3%
Core
Business
55,7%
One Group: Two Points of view
To
tal
Reven
ues 1
Q1
3:
Eu
r2
99
.7 m
ln
14
Revenues Before and After Consolidation
Eur mln 1Q13 1Q12 ∆% ∆% ∆% ∆%
Special Foundation Services (TREVI) 121,7 116,9 4,1%
Drilling Services (PETREVEN) 27,6 22,8 21,3%Interdivisional Adjustments and Eliminations (0,9) (1,2)
SubBTotal Foundations and Drilling Services 148,4 138,4 7,2%
Machines for Special Foundations (SOILMEC) 48,8 49,4 +1,2%
Drilling Rigs (DRILLMEC) 107,8 125,4 +14,0%
Interdivisional Adjustments and Eliminations (0,2) (0,4)
SubBTotal Mechanical Division 156,4 174,3 ?10,3%
Parent Company 3,6 3,4
Interdivisional Eliminations (8,8) (8,4)
TOTAL CONSOLIDATED REVENUES 299,7 307,8 ?2,6%
15
Breakdown per Geographical Area
163,2
178,9
234,8
289,2
235,0
216,9
307,8 299,7
16
Backlog
Foundation Sector Drilling Sector
668,1
901,7831,0
786,0
986,4 939,2
1.108,9
GEOGRAPHICAL AREA (Eur mln) 1Q13 %
Italy 146,2 13,2%
Europe (Italy excl.) 137,3 12,4%
U.S.A. and Canada 58,7 5,3%
Latin America 468,8 42,3%
Africa 83,3 7,5%
Middle East and Asia 193,3 17,4%
Far East 21,3 1,9%
TOTAL 1.108,9 100,0%
NFP 1Q13NFP FY12 EBIT + D&A
FREE CASH FLOW
B 59,7 mln Eur
Eur
mln
INVESTMENTS INTERESTS EXCHANGE DIFFERENCES
OTHERTAXES ∆ WORKING CAPITAL
17
Net Financial Position
1Q 09 1Q 10 1Q 11 1Q 12 1Q 13
Eu
r m
ln
1Q 08
EBITDA/Net Fin. Exp. 5,4x7,9x8,3x10,7x9,2x11,4x18
Financial Ratios
186,6
415,4
173,6
406,2
495,0
414,4
1Q 07
7,7x
467,2
137,9
269,6
168,3
357,7
467,2
344,1
434,8
107,5
455,1
Eur mln
EQUITY NET FINANCIAL POSITION
Short Term Debt
Long Term Debt
19
Equity and Net Financial Position
20Based on non Consolidated Data
Foundations and Drilling Services Division
91,4
158,1
116,3 121,3118,2
138,4
148,4
Based on non Consolidated Data21
Mechanical Division
100,3
137,2
123,0 115,8
105,9
174,3
156,4
Guidance & Results
22
� Increase in Revenues
� Significant improvement of marginality in the Oil & Gas sector
� Cash generation in the second part of the year
� NFP improved
� Important contracts in progress in 2013
More challenging
Outlook for the year
2013*
REVENUES
EBITDA
NFP Improving
+5/10%
+5/10%
* vs Results FY 2012
� In the m/l term our business model is expected to increase its performance even if the macroeconomic outlook is uncertain
1. TREVI Group
2. 1Q 2013 Financial Results
3. Appendix
4. Q&A
23
Drillmec HH?201
24
Income Statement 1Q13 vs 1Q12
Eur 000 1Q13 1Q12 ∆% ∆% ∆% ∆%
TOTAL REVENUES 299.662 307.819 B2,6%
Changes in inventories of finished and semiCfinished products 7.214 10.755
Increase in fixed assets for internal use 2.458 7.049
Other nonCordinary operating revenues 0 0
VALUE OF PRODUCTION 309.334 325.624 B5,0%
Raw materials and external services 214.645 237.836
Other operating costs 6.333 3.801
VALUE ADDED 88.356 83.986 5,2%
Personnel expenses 55.631 52.338
EBITDA 32.724 31.649 3,4%
% Total Revenues 10,9% 10,3%
Depreciation 13.183 10.822
Provisions and writeCdowns 2.139 1.795
EBIT 17.403 19.032 B8,6%
% Total Revenues 5,8% 6,2%
Financial revenues/(expenses) (6.119) (4.017)
Gains/(Losses) on exchange rates (2.572) (2.366)
Other Gains/(Losses) 0 0
EBT 8.713 12.649 B31,1%
Tax 4.393 4.743
Minorities 1.596 (314)
GROUP NET PROFIT 2.724 8.220 B66,9%
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Statement of Financial Position 1Q13 vs 1Q12
Eur 000 1Q13 1Q12 ∆% ∆% ∆% ∆%
Fixed assets
C Tangible fixed assets 353.248 334.277
C Intangible fixed assets 29.889 22.117
C Financial fixed assets 6.917 9.075
Net working capital
C Inventories 550.747 503.060
C Trade receivables 404.292 454.313
C Trade payables (C) (235.453) (303.549)
C PreCpayments (C) (185.174) (89.397)
C Other assets (liabilities) 17.874 18.857
Fixed assets plus net working capital 942.340 948.753 ?0,7%
PostBemployment benefits (B) (19.390) (18.423)
NET INVESTED CAPITAL 922.950 930.331 ?0,8%
Financed by:
Group net shareholders' funds 432.769 423.229
Minorities' share of net shareholders' funds 22.290 11.549
Net financial position 467.891 495.553
TOTAL SOURCES OF FINANCING 922.950 930.331 ?0,8%
1. TREVI Group
2. 1Q 2013 Financial Results
3. Appendix
4. Q&A
26
Works on the Panama Canal – (PANAMA)
The Executive in charge of the preparation of accounting documents “Daniele Forti” declares,pursuant to paragraph 2 of article 154Cbis of the consolidated law on finance, that the
accounting information contained in this presentation corresponds to the document results,
books and accounting records.
This presentation, prepared by TREVI – Finanziaria Industriale SpA, contains forward lookinginformation and statements about the group and in no case may it be interpreted as an offer or
an invitation to sell or purchase any security issued by the company or its subsidiaries.
These statements include financial projections and estimates and their underlying assumptions,
statements regarding plans, objectives and expectations to future operations, products andservices, and statements regarding future performance.
Forward looking statements involve inherent risks and uncertainties are current only at the
date they are made.
However, the management of TREVI – Finanziaria Industriale SpA believes that the
expectations are reasonable, but, at the same time, points out to holders and investors that all
the information and all the statements are subject to various risk and many of which are very
difficult to predict and to control.
TREVI – Finanziaria Industriale SpA does not undertake any obligation to update forward
looking statements to reflect any changes in own expectations with regard thereto or any
changes in events.
27
Disclaimer
