Financial Results
CONFERENCE CALL
Cesena15th November 2011
2011 Third Quarter YTD
Ended 30th September 2011
1. TREVI Group
2. 3Q 2011 Financial Results
3. Appendix
4. Q&A
2
Rome (ITALY) Metro Line Soilmec Hydromill
Comment of the Chairman on the 3Q11
3
“We express our appreciation for the positive results of the first nine
months. Total revenues grew and operational margins were in line with
that of the previous quarters. The Order Backlog as of September 30th
grew to over 1 billion Euro from 759 million Euro of the same period
last year, an increase of more than 34%. The noteworthy value and
quality of the orders secured, aside from the orders acquired following
the third quarter and the ongoing negotiations, confirm the capacity of
the Group to create solid basis for the near future even in an uncertain
and challenging framework. We confirm expected year end total
revenues at around 1 billion Euro.”
• Onshore Drilling
• Long term contracts
• Latin America emerging
Player
• Hydraulic Rotary Rigs
• Cranes
• Jet Grouting
• Tunnel Consolidation
• Casing Oscillators
• Extractors
• Drilling Tools
• Other Equipment
• Automatic Rigs
(HH Series)
• Land rigs
• Derricks & Offshore
• Mobile Drilling Rigs
• Hydraulic Top Drives
• Triplex Mud Pumps
• Deep Foundations
• Geotechnical Works
• Marine Works
• Tunnel Consolidation
• Automated Car Parks
• Environment
SERVICESSector
MECHANICAL Sector
Projects for renewable energy
Special foundation services Oil drilling services Oil drilling rigs Special foundation rigs
4
TREVI Group: Business Model
Technological InnovationProcess Innovation
STRENGTHENING MARKET LEADERSHIP
MECHANICAL SECTORSERVICES SECTOR
5
TREVI Group: Competitive Advantage
GROUP SYNERGIES
CONSTANT INNOVATION
OUR COMPETITVE ADVANTAGE
Venezuela
U.S.A.
Mozambique
Nigeria
U.A.E.
Oman
Germany Italy
Hong Kong
Argentina
Colombia
Canada
Qatar
New Zealand
Peru
Austria
Venezuela
Argentina
AlgeriaPhilippines
Panama
Angola
Colombia
Saudi Arabia
Libya
PETREVENDivision
TREVIDivision
Italy
31 Operating Companies in 22 Countries – 44 Business Units
Chile
6
TREVI Group: Services Sector Presence
SOILMECDivision
DRILLMECDivision
Japan
China
Singapore
Italy
U.S.A.
France
UK
India
Germany
U.S.A.
Australia
Italy
Brazil
16 Operating Companies in 11 Countries – 21 Business Units
Algeria
Russia
7
TREVI Group: Mechanical Sector Presence
UNIQUELY INTEGRATED PLAYER BOTH IN GROUND
ENGINEERING & OIL DRILLING SERVICES AND
DRILLING & FOUNDATIONS EQUIPMENT 8
TREVI Group: Key differentiating factors
• Proven track recordUnprecedented track record operating for over 50 years worldwide and successfully facing the utmost challenges
• Well diversified client portfolioUnmatched and historical International diversification of the business being less dependent of local markets
• World leading technologyContinuously innovating the highest standards of technology to best meet the market’s demand
• Flexible & unique business model Extensive industry know#how in finding the most suitable solutions for any jobUnique and adaptable business model for industry competitive advantage
1. TREVI Group
2. 3Q 2011 Financial Results
3. Appendix
4. Q&A
9
Copenaghen (DENMARK) CITYRINGEN work site
10
Results 3Q11
� Revenues substantially in line Maintenance of volume of sales
� Consistent margins Preservation of operational profitability
� Very robust Backlog New orders announced signal a very positive market trend
� Revenues: €250m +6% vs 3Q10
� EBITDA: €32m >13% vs 3Q10
� EBIT: €20m >8% vs 3Q10
� PBT: €17m Flat vs 3Q10
� Backlog: €1,021m +34% vs 3Q10
� PFN: €386m In line with the business
FY 2010 Eur 000 9M11* % 9M11
as
reported 9M10 %
952.938 TOTAL REVENUES 753.000 9,3% 724.123 689.123 5,1%
137.258 EBITDA 101.406 >4,4% 97.082 106.092 >8,5%
14,4% % Total Revenues 13,5% 13,4% 15,4%
84.313 EBIT 64.748 >1,6% 61.732 65.786 >6,2%
8,8% % Total Revenues 8,6% 8,5% 9,5%
70.184 EBT 48.505 >11,4% 45.383 54.718 >17,1%
46.361 GROUP NET PROFIT 26.073 >25,0% 24.019 34.763 >30,9%
11
9M11 yoy KPIs at constant currency
� Revenues increased to €753m +9,3% at constant currency
� EBITDA at €101m >4,4% at constant currency
� Group Net Profit at €26m
*results at constant currency; % change vs 9M10
At constant currency*
12
Quarterly Financial Highlights
Eur mln
Eur mln
Eur 000 1Q11 2Q11 3Q11 9M11
TOTAL REVENUES 216.921 257.617 249.586 724.123
Changes in inventories of finished and semiBfinished products 15.407 15.902 23.776 55.085
Increase in fixed assets for internal use 5.824 14.450 5.674 25.948
Other nonBordinary operating revenues 0 0 0 0
VALUE OF PRODUCTION 238.153 287.968 279.036 805.157
Raw materials and external services 157.367 200.992 198.079 556.438
Other operating costs 3.668 4.150 3.482 11.300
VALUE ADDED 77.118 82.826 77.475 237.419
Personnel expenses 45.096 50.047 45.195 140.338
EBITDA 32.021 32.780 32.280 97.082
% Total Revenues 14,8% 12,7% 12,9% 13,4%
Depreciation 11.409 11.354 11.505 34.268
Provisions and writeBdowns 322 408 352 1.082
EBIT 20.290 21.018 20.423 61.731
% Total Revenues 9,4% 8,2% 8,2% 8,5%
Financial revenues/(expenses) (3.849) (4.630) (3.894) (12.372)
Gains/(Losses) on exchange rates (3.980) (404) 407 (3.976)
Other Gains/(Losses) 0 2 (2) 0
EBT 12.462 15.985 16.934 45.383
Tax 4.362 7.586 8.175 20.123
Minorities 506 659 76 1.241
GROUP NET PROFIT 7.594 7.740 8.683 24.019
9M 2011 % 9M 2010 % ∆%
VALUE OF PRODUCTION 805.2 696.3 15,6%
REVENUES 724.1 100,0% 689.1 100,0% 5,1%
EBITDA 97.1 13,4% 106.1 15,4% 78,5%
EBIT 61.7 8,5% 65.8 9,5% 76,2%
FINANCIAL COSTS (12.4) >1,7% (9.2) >1,3% 34,5%
TAXES 20.1 2,8% 20.6 3,0% 2,1%
NET PROFIT 24.0 3,3% 34.8 5,0% 730,9%
9M 2011 9M 2010 ∆%
NET CAPITAL EMPLOYED 762.2 745.4 2,3%
EQUITY 376.6 349.6 7,7%
NET FINANCIAL INDEBTEDNESS 385.7 395.7 2,5%
BACKLOG 1,021.2 759.4 34,5%
9M 2011 9M 2010
NFP / EBITDA 2.98x 2.80x
NFP / EQUITY 1.02x 1.13x
9M 2011 9M 2010
EMPLOYEES 6,231 6,07313
Financial Highlights 9M11 yoy
Eur mln
Eur mln
14
Income Statement 9M11 vs 9M10
FY 2010 Eur 000 9M11 9M10 ∆% ∆% ∆% ∆%
952.938 TOTAL REVENUES 724.124 689.123 5,1%
(34.005) Changes in inventories of finished and semiBfinished products 55.085 (7.359)
23.269 Increase in fixed assets for internal use 25.948 14.559
0 Other nonBordinary operating revenues 0 0
942.202 VALUE OF PRODUCTION 805.157 696.323 15,6%
619.964 Raw materials and external services 556.438 455.877
12.383 Other operating costs 11.300 8.535
309.856 VALUE ADDED 237.419 231.911 2,4%
172.598 Personnel expenses 140.338 125.819
137.258 EBITDA 97.081 106.092 >8,5%
14,4% % Total Revenues 13,4% 15,4%
45.332 Depreciation 34.268 35.220
7.613 Provisions and writeBdowns 1.082 5.086
84.313 EBIT 61.731 65.786 >6,2%
8,8% % Total Revenues 8,5% 9,5%
(14.101) Financial revenues/(expenses) (12.373) (9.199)
(276) Gains/(Losses) on exchange rates (3.977) (1.972)
249 Other Gains/(Losses) 0 103
70.184 EBT 45.381 54.718 >17,1%
24.506 Tax 20.123 20.557
(683) Minorities 1.241 (602)
46.361 GROUP NET PROFIT 24.017 34.763 >30,9%
Based on non Consolidated data15
Services
Sector
47,4%
Mechanical
Sector
52,6%
Drilling
Sector
40,9%
Core
Business
59,1%
One Group: Two Points of view
To
tal R
even
ues 9
M1
1:
Eu
r7
24
,1 m
ln
16
Revenues Before and After Consolidation
Eur mln 9M11 9M10 ∆% ∆% ∆% ∆%
Special Foundation Services (TREVI) 293,1 308,6 #5,0%
Drilling Services (PETREVEN) 67,1 58,1 15,4%
Interdivisional Adjustments and Eliminations (5,5) (4,6)
Sub>Total Foundations and Drilling Services Sector 354,8 362,1 72,0%
Machines for Special Foundations (SOILMEC) 156,0 134,0 16,4%
Drilling Rigs (DRILLMEC) 243,9 210,8 15,7%
Interdivisional Adjustments and Eliminations (2,6) (2,5)
Sub>Total Mechanical Sector 397,3 342,4 16,0%
Parent Company 9,1 10,5
Interdivisional Eliminations (37,0) (25,9)
TOTAL CONSOLIDATED REVENUES 724,1 689,1 5,1%
17
Breakdown per Geographical Area
351,6
469,0
589,0
779,9
836,4
689,1
724,1
613,0
1.228,6
681,0759,4
1.021,2
783,5
18
Backlog
Foundation Sector Drilling Sector
GEOGRAPHICAL AREA (Eur mln) 9M11 %
Italy 185,4 18,2%
Europe (Italy excl.) 174,9 17,1%
U.S.A. and Canada 121,5 11,9%
Latin America 275,8 27,0%
Africa 52,6 5,1%
Middle East and Asia 175,4 17,2%
Far East 35,6 3,5%
TOTAL 1.021,2 100,0%
NFP 9M11NFP FY10 EBIT + D&A
FREE CASH FLOW
+ 37,3 mln Eur
Eur
mln
INVESTMENTS INTERESTS EXCHANGE DIFFERENCES
OTHERTAXES∆ WORKING CAPITAL
19
Net Financial Position
9M 07 9M 08 9M 09 9M 10 9M 11
Eu
r m
ln
9M 06
EBITDA/Net Fin. Exp. 7,9x11,5x11,7x10,8x8,4x8,6x20
Financial Ratios
175,5
247,9
142,6
395,7385,7
441,8
126,0
9M 05
6,5x
Eur mln
EQUITY NET FINANCIAL POSITION
112,7
218,4
149,5
349,6
385,7
294,4
376,6
(*) Short Term debt includes Convertible Bond and Cash and Cash Equivalents
Short Term Debt (*)
Long Term Debt
21
Equity and Net Financial Position
102,1
257,3
359,4
284,3
427,9
362,1 354,8
22Based on non Consolidated Data
Foundations and Drilling Services Division
Based on non Consolidated Data23
Mechanical Division
219,0
444,3
323,1
417,1
342,4
397,3
1. TREVI Group
2. 3Q 2011 Financial Results
3. Appendix
4. Q&A
24
Drillmec HH775 delivery to GREKA DRILLING
25
Income Statement 9M11 vs 9M10
FY 2010 Eur 000 9M11 9M10 ∆% ∆% ∆% ∆%
952.938 TOTAL REVENUES 724.124 689.123 5,1%
(34.005) Changes in inventories of finished and semiBfinished products 55.085 (7.359)
23.269 Increase in fixed assets for internal use 25.948 14.559
0 Other nonBordinary operating revenues 0 0
942.202 VALUE OF PRODUCTION 805.157 696.323 15,6%
619.964 Raw materials and external services 556.438 455.877
12.383 Other operating costs 11.300 8.535
309.856 VALUE ADDED 237.419 231.911 2,4%
172.598 Personnel expenses 140.338 125.819
137.258 EBITDA 97.081 106.092 >8,5%
14,4% % Total Revenues 13,4% 15,4%
45.332 Depreciation 34.268 35.220
7.613 Provisions and writeBdowns 1.082 5.086
84.313 EBIT 61.731 65.786 >6,2%
8,8% % Total Revenues 8,5% 9,5%
(14.101) Financial revenues/(expenses) (12.373) (9.199)
(276) Gains/(Losses) on exchange rates (3.977) (1.972)
249 Other Gains/(Losses) 0 103
70.184 EBT 45.381 54.718 >17,1%
24.506 Tax 20.123 20.557
(683) Minorities 1.241 (602)
46.361 GROUP NET PROFIT 24.017 34.763 >30,9%
26
Statement of Financial Position 9M11 vs 9M10
FY 2010 Eur 000 9M11 9M10 ∆% ∆% ∆% ∆%
Fixed assets
323.762 B Tangible fixed assets 334.930 315.706
18.444 B Intangible fixed assets 19.614 17.488
5.162 B Financial fixed assets 8.065 4.345
Net working capital
409.073 B Inventories 490.994 406.631
307.033 B Trade receivables 338.769 292.834
(191.106) B Trade payables (B) (294.826) (183.498)
(88.068) B PreBpayments (B) (111.094) (80.173)
(4.864) B Other assets (liabilities) (5.573) (10.081)
779.435 Fixed assets plus net working capital 780.879 763.252 2,3%
(16.915) Post>employment benefits (>) (18.635) (17.895)
762.520 NET INVESTED CAPITAL 762.243 745.357 2,3%
Financed by:
354.157 Group net shareholders' funds 365.055 337.632
12.351 Minorities' share of net shareholders' funds 11.531 11.990
396.012 Net financial position 385.659 395.736
762.520 TOTAL SOURCES OF FINANCING 762.243 745.357 2,3%
1. TREVI Group
2. 3Q 2011 Financial Results
3. Appendix
4. Q&A
27
Wolf Creek Dam (USA) Award on Safety [500,000 hours accidents free]
The Executive in charge of the preparation of accounting documents “Daniele Forti” declares,pursuant to paragraph 2 of article 154Bbis of the consolidated law on finance, that theaccounting 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 oran 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 thedate they are made.
However, the management of TREVI – Finanziaria Industriale SpA believes that theexpectations are reasonable, but, at the same time, points out to holders and investors that allthe information and all the statements are subject to various risk and many of which are verydifficult to predict and to control.
TREVI – Finanziaria Industriale SpA does not undertake any obligation to update forwardlooking statements to reflect any changes in own expectations with regard thereto or anychanges in events.
28
Disclaimer
Investor Relations Team:
Stefano CampanaJosef Mastragostino
Cristina Trevisani
29
Financial Results
CONFERENCE CALL
Cesena15th November 2011
2011 Third Quarter YTD
Ended 30th September 2011
1. TREVI Group
2. 3Q 2011 Financial Results
3. Appendix
4. Q&A
2
Rome (ITALY) Metro Line Soilmec Hydromill
Comment of the Chairman on the 3Q11
3
“We express our appreciation for the positive results of the first nine
months. Total revenues grew and operational margins were in line with
that of the previous quarters. The Order Backlog as of September 30th
grew to over 1 billion Euro from 759 million Euro of the same period
last year, an increase of more than 34%. The noteworthy value and
quality of the orders secured, aside from the orders acquired following
the third quarter and the ongoing negotiations, confirm the capacity of
the Group to create solid basis for the near future even in an uncertain
and challenging framework. We confirm expected year end total
revenues at around 1 billion Euro.”
• Onshore Drilling
• Long term contracts
• Latin America emerging
Player
• Hydraulic Rotary Rigs
• Cranes
• Jet Grouting
• Tunnel Consolidation
• Casing Oscillators
• Extractors
• Drilling Tools
• Other Equipment
• Automatic Rigs
(HH Series)
• Land rigs
• Derricks & Offshore
• Mobile Drilling Rigs
• Hydraulic Top Drives
• Triplex Mud Pumps
• Deep Foundations
• Geotechnical Works
• Marine Works
• Tunnel Consolidation
• Automated Car Parks
• Environment
SERVICESSector
MECHANICAL Sector
Projects for renewable energy
Special foundation services Oil drilling services Oil drilling rigs Special foundation rigs
4
TREVI Group: Business Model
Technological InnovationProcess Innovation
STRENGTHENING MARKET LEADERSHIP
MECHANICAL SECTORSERVICES SECTOR
5
TREVI Group: Competitive Advantage
GROUP SYNERGIES
CONSTANT INNOVATION
OUR COMPETITVE ADVANTAGE
Venezuela
U.S.A.
Mozambique
Nigeria
U.A.E.
Oman
Germany Italy
Hong Kong
Argentina
Colombia
Canada
Qatar
New Zealand
Peru
Austria
Venezuela
Argentina
AlgeriaPhilippines
Panama
Angola
Colombia
Saudi Arabia
Libya
PETREVENDivision
TREVIDivision
Italy
31 Operating Companies in 22 Countries – 44 Business Units
Chile
6
TREVI Group: Services Sector Presence
SOILMECDivision
DRILLMECDivision
Japan
China
Singapore
Italy
U.S.A.
France
UK
India
Germany
U.S.A.
Australia
Italy
Brazil
16 Operating Companies in 11 Countries – 21 Business Units
Algeria
Russia
7
TREVI Group: Mechanical Sector Presence
UNIQUELY INTEGRATED PLAYER BOTH IN GROUND
ENGINEERING & OIL DRILLING SERVICES AND
DRILLING & FOUNDATIONS EQUIPMENT 8
TREVI Group: Key differentiating factors
• Proven track recordUnprecedented track record operating for over 50 years worldwide and successfully facing the utmost challenges
• Well diversified client portfolioUnmatched and historical International diversification of the business being less dependent of local markets
• World leading technologyContinuously innovating the highest standards of technology to best meet the market’s demand
• Flexible & unique business model Extensive industry know#how in finding the most suitable solutions for any jobUnique and adaptable business model for industry competitive advantage
1. TREVI Group
2. 3Q 2011 Financial Results
3. Appendix
4. Q&A
9
Copenaghen (DENMARK) CITYRINGEN work site
10
Results 3Q11
� Revenues substantially in line Maintenance of volume of sales
� Consistent margins Preservation of operational profitability
� Very robust Backlog New orders announced signal a very positive market trend
� Revenues: €250m +6% vs 3Q10
� EBITDA: €32m >13% vs 3Q10
� EBIT: €20m >8% vs 3Q10
� PBT: €17m Flat vs 3Q10
� Backlog: €1,021m +34% vs 3Q10
� PFN: €386m In line with the business
FY 2010 Eur 000 9M11* % 9M11
as
reported 9M10 %
952.938 TOTAL REVENUES 753.000 9,3% 724.123 689.123 5,1%
137.258 EBITDA 101.406 >4,4% 97.082 106.092 >8,5%
14,4% % Total Revenues 13,5% 13,4% 15,4%
84.313 EBIT 64.748 >1,6% 61.732 65.786 >6,2%
8,8% % Total Revenues 8,6% 8,5% 9,5%
70.184 EBT 48.505 >11,4% 45.383 54.718 >17,1%
46.361 GROUP NET PROFIT 26.073 >25,0% 24.019 34.763 >30,9%
11
9M11 yoy KPIs at constant currency
� Revenues increased to €753m +9,3% at constant currency
� EBITDA at €101m >4,4% at constant currency
� Group Net Profit at €26m
*results at constant currency; % change vs 9M10
At constant currency*
12
Quarterly Financial Highlights
Eur mln
Eur mln
Eur 000 1Q11 2Q11 3Q11 9M11
TOTAL REVENUES 216.921 257.617 249.586 724.123
Changes in inventories of finished and semiBfinished products 15.407 15.902 23.776 55.085
Increase in fixed assets for internal use 5.824 14.450 5.674 25.948
Other nonBordinary operating revenues 0 0 0 0
VALUE OF PRODUCTION 238.153 287.968 279.036 805.157
Raw materials and external services 157.367 200.992 198.079 556.438
Other operating costs 3.668 4.150 3.482 11.300
VALUE ADDED 77.118 82.826 77.475 237.419
Personnel expenses 45.096 50.047 45.195 140.338
EBITDA 32.021 32.780 32.280 97.082
% Total Revenues 14,8% 12,7% 12,9% 13,4%
Depreciation 11.409 11.354 11.505 34.268
Provisions and writeBdowns 322 408 352 1.082
EBIT 20.290 21.018 20.423 61.731
% Total Revenues 9,4% 8,2% 8,2% 8,5%
Financial revenues/(expenses) (3.849) (4.630) (3.894) (12.372)
Gains/(Losses) on exchange rates (3.980) (404) 407 (3.976)
Other Gains/(Losses) 0 2 (2) 0
EBT 12.462 15.985 16.934 45.383
Tax 4.362 7.586 8.175 20.123
Minorities 506 659 76 1.241
GROUP NET PROFIT 7.594 7.740 8.683 24.019
9M 2011 % 9M 2010 % ∆%
VALUE OF PRODUCTION 805.2 696.3 15,6%
REVENUES 724.1 100,0% 689.1 100,0% 5,1%
EBITDA 97.1 13,4% 106.1 15,4% 78,5%
EBIT 61.7 8,5% 65.8 9,5% 76,2%
FINANCIAL COSTS (12.4) >1,7% (9.2) >1,3% 34,5%
TAXES 20.1 2,8% 20.6 3,0% 2,1%
NET PROFIT 24.0 3,3% 34.8 5,0% 730,9%
9M 2011 9M 2010 ∆%
NET CAPITAL EMPLOYED 762.2 745.4 2,3%
EQUITY 376.6 349.6 7,7%
NET FINANCIAL INDEBTEDNESS 385.7 395.7 2,5%
BACKLOG 1,021.2 759.4 34,5%
9M 2011 9M 2010
NFP / EBITDA 2.98x 2.80x
NFP / EQUITY 1.02x 1.13x
9M 2011 9M 2010
EMPLOYEES 6,231 6,07313
Financial Highlights 9M11 yoy
Eur mln
Eur mln
14
Income Statement 9M11 vs 9M10
FY 2010 Eur 000 9M11 9M10 ∆% ∆% ∆% ∆%
952.938 TOTAL REVENUES 724.124 689.123 5,1%
(34.005) Changes in inventories of finished and semiBfinished products 55.085 (7.359)
23.269 Increase in fixed assets for internal use 25.948 14.559
0 Other nonBordinary operating revenues 0 0
942.202 VALUE OF PRODUCTION 805.157 696.323 15,6%
619.964 Raw materials and external services 556.438 455.877
12.383 Other operating costs 11.300 8.535
309.856 VALUE ADDED 237.419 231.911 2,4%
172.598 Personnel expenses 140.338 125.819
137.258 EBITDA 97.081 106.092 >8,5%
14,4% % Total Revenues 13,4% 15,4%
45.332 Depreciation 34.268 35.220
7.613 Provisions and writeBdowns 1.082 5.086
84.313 EBIT 61.731 65.786 >6,2%
8,8% % Total Revenues 8,5% 9,5%
(14.101) Financial revenues/(expenses) (12.373) (9.199)
(276) Gains/(Losses) on exchange rates (3.977) (1.972)
249 Other Gains/(Losses) 0 103
70.184 EBT 45.381 54.718 >17,1%
24.506 Tax 20.123 20.557
(683) Minorities 1.241 (602)
46.361 GROUP NET PROFIT 24.017 34.763 >30,9%
Based on non Consolidated data15
Services
Sector
47,4%
Mechanical
Sector
52,6%
Drilling
Sector
40,9%
Core
Business
59,1%
One Group: Two Points of view
To
tal R
even
ues 9
M1
1:
Eu
r7
24
,1 m
ln
16
Revenues Before and After Consolidation
Eur mln 9M11 9M10 ∆% ∆% ∆% ∆%
Special Foundation Services (TREVI) 293,1 308,6 #5,0%
Drilling Services (PETREVEN) 67,1 58,1 15,4%
Interdivisional Adjustments and Eliminations (5,5) (4,6)
Sub>Total Foundations and Drilling Services Sector 354,8 362,1 72,0%
Machines for Special Foundations (SOILMEC) 156,0 134,0 16,4%
Drilling Rigs (DRILLMEC) 243,9 210,8 15,7%
Interdivisional Adjustments and Eliminations (2,6) (2,5)
Sub>Total Mechanical Sector 397,3 342,4 16,0%
Parent Company 9,1 10,5
Interdivisional Eliminations (37,0) (25,9)
TOTAL CONSOLIDATED REVENUES 724,1 689,1 5,1%
17
Breakdown per Geographical Area
351,6
469,0
589,0
779,9
836,4
689,1
724,1
613,0
1.228,6
681,0759,4
1.021,2
783,5
18
Backlog
Foundation Sector Drilling Sector
GEOGRAPHICAL AREA (Eur mln) 9M11 %
Italy 185,4 18,2%
Europe (Italy excl.) 174,9 17,1%
U.S.A. and Canada 121,5 11,9%
Latin America 275,8 27,0%
Africa 52,6 5,1%
Middle East and Asia 175,4 17,2%
Far East 35,6 3,5%
TOTAL 1.021,2 100,0%
NFP 9M11NFP FY10 EBIT + D&A
FREE CASH FLOW
+ 37,3 mln Eur
Eur
mln
INVESTMENTS INTERESTS EXCHANGE DIFFERENCES
OTHERTAXES∆ WORKING CAPITAL
19
Net Financial Position
9M 07 9M 08 9M 09 9M 10 9M 11
Eu
r m
ln
9M 06
EBITDA/Net Fin. Exp. 7,9x11,5x11,7x10,8x8,4x8,6x20
Financial Ratios
175,5
247,9
142,6
395,7385,7
441,8
126,0
9M 05
6,5x
Eur mln
EQUITY NET FINANCIAL POSITION
112,7
218,4
149,5
349,6
385,7
294,4
376,6
(*) Short Term debt includes Convertible Bond and Cash and Cash Equivalents
Short Term Debt (*)
Long Term Debt
21
Equity and Net Financial Position
102,1
257,3
359,4
284,3
427,9
362,1 354,8
22Based on non Consolidated Data
Foundations and Drilling Services Division
Based on non Consolidated Data23
Mechanical Division
219,0
444,3
323,1
417,1
342,4
397,3
1. TREVI Group
2. 3Q 2011 Financial Results
3. Appendix
4. Q&A
24
Drillmec HH775 delivery to GREKA DRILLING
25
Income Statement 9M11 vs 9M10
FY 2010 Eur 000 9M11 9M10 ∆% ∆% ∆% ∆%
952.938 TOTAL REVENUES 724.124 689.123 5,1%
(34.005) Changes in inventories of finished and semiBfinished products 55.085 (7.359)
23.269 Increase in fixed assets for internal use 25.948 14.559
0 Other nonBordinary operating revenues 0 0
942.202 VALUE OF PRODUCTION 805.157 696.323 15,6%
619.964 Raw materials and external services 556.438 455.877
12.383 Other operating costs 11.300 8.535
309.856 VALUE ADDED 237.419 231.911 2,4%
172.598 Personnel expenses 140.338 125.819
137.258 EBITDA 97.081 106.092 >8,5%
14,4% % Total Revenues 13,4% 15,4%
45.332 Depreciation 34.268 35.220
7.613 Provisions and writeBdowns 1.082 5.086
84.313 EBIT 61.731 65.786 >6,2%
8,8% % Total Revenues 8,5% 9,5%
(14.101) Financial revenues/(expenses) (12.373) (9.199)
(276) Gains/(Losses) on exchange rates (3.977) (1.972)
249 Other Gains/(Losses) 0 103
70.184 EBT 45.381 54.718 >17,1%
24.506 Tax 20.123 20.557
(683) Minorities 1.241 (602)
46.361 GROUP NET PROFIT 24.017 34.763 >30,9%
26
Statement of Financial Position 9M11 vs 9M10
FY 2010 Eur 000 9M11 9M10 ∆% ∆% ∆% ∆%
Fixed assets
323.762 B Tangible fixed assets 334.930 315.706
18.444 B Intangible fixed assets 19.614 17.488
5.162 B Financial fixed assets 8.065 4.345
Net working capital
409.073 B Inventories 490.994 406.631
307.033 B Trade receivables 338.769 292.834
(191.106) B Trade payables (B) (294.826) (183.498)
(88.068) B PreBpayments (B) (111.094) (80.173)
(4.864) B Other assets (liabilities) (5.573) (10.081)
779.435 Fixed assets plus net working capital 780.879 763.252 2,3%
(16.915) Post>employment benefits (>) (18.635) (17.895)
762.520 NET INVESTED CAPITAL 762.243 745.357 2,3%
Financed by:
354.157 Group net shareholders' funds 365.055 337.632
12.351 Minorities' share of net shareholders' funds 11.531 11.990
396.012 Net financial position 385.659 395.736
762.520 TOTAL SOURCES OF FINANCING 762.243 745.357 2,3%
1. TREVI Group
2. 3Q 2011 Financial Results
3. Appendix
4. Q&A
27
Wolf Creek Dam (USA) Award on Safety [500,000 hours accidents free]
The Executive in charge of the preparation of accounting documents “Daniele Forti” declares,pursuant to paragraph 2 of article 154Bbis of the consolidated law on finance, that theaccounting 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 oran 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 thedate they are made.
However, the management of TREVI – Finanziaria Industriale SpA believes that theexpectations are reasonable, but, at the same time, points out to holders and investors that allthe information and all the statements are subject to various risk and many of which are verydifficult to predict and to control.
TREVI – Finanziaria Industriale SpA does not undertake any obligation to update forwardlooking statements to reflect any changes in own expectations with regard thereto or anychanges in events.
28
Disclaimer
Investor Relations Team:
Stefano CampanaJosef Mastragostino
Cristina Trevisani
29
