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Paris, February 18, 2015 Fourth Quarter and Full Year 2014 Results

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Page 1: Fourth Quarter and Full Year 2014 Results

Paris, February 18, 2015

Fourth Quarter and Full Year

2014 Results

Page 2: Fourth Quarter and Full Year 2014 Results

Safe Harbor

his presentation contains both historical and forward-looking statements. These forward-looking statements are not based on historicalfacts, but rather reflect our current expectations concerning future results and events and generally may be identified by the use offorward-looking words such as “believe”, “aim”, “expect”, “anticipate”, “intend”, “foresee”, “likely”, “should”, “planned”, “may”, “estimates”,“potential” or other similar words. Similarly, statements that describe our objectives, plans or goals are or may be forward-lookingstatements. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause ouractual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed orimplied by these forward-looking statements. Risks that could cause actual results to differ materially from the results anticipated in theforward-looking statements include, among other things: our ability to successfully continue to originate and execute large servicescontracts, and construction and project risks generally; the level of production-related capital expenditure in the oil and gas industry aswell as other industries; currency fluctuations; interest rate fluctuations; raw material, especially steel as well as maritime freight pricefluctuations; the timing of development of energy resources; armed conflict or political instability in the Arabian-Persian Gulf, Africa orother regions; the strength of competition; control of costs and expenses; the reduced availability of government-sponsored exportfinancing; losses in one or more of our large contracts; U.S. legislation relating to investments in Iran or elsewhere where we seek to dobusiness; changes in tax legislation, rules, regulation or enforcement; intensified price pressure by our competitors; severe weatherconditions; our ability to successfully keep pace with technology changes; our ability to attract and retain qualified personnel; theevolution, interpretation and uniform application and enforcement of International Financial Reporting Standards, IFRS, according towhich we prepare our financial statements as of January 1, 2005; political and social stability in developing countries; competition; supplychain bottlenecks; the ability of our subcontractors to attract skilled labor; the fact that our operations may cause the discharge ofhazardous substances, leading to significant environmental remediation costs; our ability to manage and mitigate logistical challengesdue to underdeveloped infrastructure in some countries where we are performing projects.

Some of these risk factors are set forth and discussed in more detail in our Annual Report. Should one of these known or unknown risksmaterialize, or should our underlying assumptions prove incorrect, our future results could be adversely affected, causing these results todiffer materially from those expressed in our forward-looking statements. These factors are not necessarily all of the important factorsthat could cause our actual results to differ materially from those expressed in any of our forward-looking statements. Other unknown orunpredictable factors also could have material adverse effects on our future results. The forward-looking statements included in thisrelease are made only as of the date of this release. We cannot assure you that projected results or events will be achieved. We do notintend, and do not assume any obligation to update any industry information or forward looking information set forth in this release toreflect subsequent events or circumstances.

Note: In 2014, Technip applied for the first time inter alia IFRS 11 – Joint Arrangements. In its full year financial statements, Technip hasincorporated the most recent interpretation of the guidelines concerning this standard issued by IFRIC in which all single project jointarrangements structured through incorporated entities can be only accounted as joint ventures. Technip will continue to report andprovide forward looking information on an adjusted basis corresponding to its previous framework in order to ensure consistency andcomparability between periods and projects, and to share with all market participants the financial reporting framework used formanagement purposes.

****

This presentation does not constitute an offer or invitation to purchase any securities of Technip in the United States or any otherjurisdiction. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Theinformation contained in this presentation may not be relied upon in deciding whether or not to acquire Technip securities.

This presentation is being furnished to you solely for your information, and it may not be reproduced, redistributed or published, directly orindirectly, in whole or in part, to any other person. Non-compliance with these restrictions may result in the violation of legal restrictions ofthe United States or of other jurisdictions.

T

4Q & FY 2014 Results2

Page 3: Fourth Quarter and Full Year 2014 Results

3

Contents

2014 Full Year Review

2014 Operational & Financial Highlights

Changing Market Environment:

Shaping Technip’s Business

Engaging with Clients

4Q & FY 2014 Results

Page 4: Fourth Quarter and Full Year 2014 Results

2014 Full Year Review

44 4Q & FY 2014 Results

Page 5: Fourth Quarter and Full Year 2014 Results

Onshore/

Offshore

Subsea

5

Objectives

Adjusted revenue between €4.35 and €4.75 billion

Adjusted operating margin at least 12%

Adjusted revenue at €4.9 billion

Adjusted operating margin at 13%

Backlog with high visibility

Strong order intake

Adjusted revenue at €5.8 billion

Adjusted operating margin at 4.7%

Backlog at ~€21 billion, 50% for execution in 2015

€6.4 billion for execution in 2016

Order intake of €15.3 billion

with €3.2 billion in 4Q14

Technip’s Financial Performance in 2014

Financial Performance

4Q & FY 2014 Results

Adjusted revenue between €5.4 and €5.7 billion

Adjusted base case operating margin between

5% and 6%

Onshore/

Offshore

Balanced and diversified portfolio

50% of 2014 order intake is from projects below

€500 million

Growing revenue streams from e.g. Genesis,

PMC, EP&Cm, manufacturing

Subsea

Page 6: Fourth Quarter and Full Year 2014 Results

6

Technip’s Operational Performance in 2014

4Q & FY 2014 Results

Delivering our projects safely

Reducing our costs

Investing in skills and high-end technology

Streamlining our business

Delivering our projects

Exit of US and India diving, Offshore Wind in UK,

Industrial (Buildings & Infrastructure)

Organic: Manufacturing plants and PLSVs

Acquisitions: Kanfa, Inocean, Zimmer

TRCF(1) improved from 0.26 to 0.19 at end 2014

Fleet trimmed from 36 end 2013 to 27 vessels

end 2014

SG&A fell by €69 million

US Gulf of Mexico, Panyu, Greater

Western Flank

Jubail, Heidelberg, PMP

(1) Total Recordable Case Frequency rate: measures recordable incidents per 200,000 hours worked

Key focus areas Operational Performance

Onshore/

Offshore

Subsea

Page 7: Fourth Quarter and Full Year 2014 Results

1.201.35

1.451.58

1.68

1.852.00(1)

7

Proposed Dividend Increase of 8%

4Q & FY 2014 Results

2008 2009 2010 2011 2012 2013 2014

CAGR: +9%

Technip is committed to a progressive dividend policy

Shareholders offered an optional scrip dividend

(1) Recommendation by Technip’s Board of Directors to be approved during the Annual General Meeting on April 23, 2015

Dividend per share (€)

Page 8: Fourth Quarter and Full Year 2014 Results

Backlog Provides Visibility Beyond 2015

4Q & FY 2014 Results8

Subsea

€9.7 billion

€4.9 billion €2.8 billion €2.0 billion

2015 2017

& beyond

2016

Onshore & Offshore

€11.2 billion

€5.3 billion €3.6 billion €2.3 billion

2015 2017

& beyond2016

4Q 2014 Order Intake: €1.3 billion

4Q 2014 Order Intake: €1.9 billion

Page 9: Fourth Quarter and Full Year 2014 Results

2014 Operational & Financial Highlights

9 4Q & FY 2014 Results9

Page 10: Fourth Quarter and Full Year 2014 Results

(1) Pipe lay support vessel

Fourth Quarter Subsea Highlights

4Q & FY 2014 Results

Adjusted Revenue

Adjusted Operating Income

€ million

10

Overall group vessel utilization rate

74% in 4Q14 versus 69% a year ago

80% for the full year 2014

Offshore campaigns

Block 15/06, Angola

Quad 204, Scotland

Bøyla, Norway

Åsgard Subsea Compression, Norway

Delta House, US Gulf of Mexico

Jalilah B, United Arab Emirates

Engineering / Procurement

Moho Nord, Kaombo and T.E.N., West Africa

Jangkrik and Bangka, Indonesia

Stones, US Gulf of Mexico

Juniper subsea scope, Trinidad and Tobago

Vessels and manufacturing

Brazilian PLSV(1) Estrela Do Mar started

4 months ahead of schedule

Strong performance of Açu manufacturing

plant in Brazil

963

1,290

4Q 13 4Q 14

127198

635

4Q 13 4Q 14 FY14

13.2%15.3%

13.0%

4Q 13 4Q 14 FY14

+ 34%

4Q 13

4Q 13 4Q 13

13,2%

963

127

13.2%

Page 11: Fourth Quarter and Full Year 2014 Results

Fourth Quarter Onshore/Offshore Highlights

4Q & FY 2014 Results11

1,514 1,526

4Q 13 4Q 14

102

48

276

4Q 13 4Q 14 FY14

6.7%

3.1%

4.7%

4Q 13 4Q 14 FY14

Engineering / Procurement

Yamal LNG, Russia

Maharaja Lela & Jamalulalam South gas

development, Brunei

JBF Mangalore PTA plant, India

Juniper platform, Trinidad and Tobago

CPChem polyethylene expansion, USA

Umm Lulu offshore facilities, Abu Dhabi

Construction

Halobutyl elastomer facility, Saudi Arabia

FMB platform, Qatar

Prelude FLNG, Australia

Petronas FLNG 1, Malaysia

Ethylene XXI complex, Mexico

SK316 platforms, Malaysia

Zimmer acquisition closed

in December

+ 1%

€ million

Adjusted Revenue

4Q 13

4Q 13 4Q 13

6.7%

102

1,514

Adjusted Operating Income

Page 12: Fourth Quarter and Full Year 2014 Results

12

Foreign Exchange Management

4Q & FY 2014 Results

32%

25%

26%

17% EUR

USD & USD pegs

BRL/GBP/NOK

Others 26 currencies26 other currencies

BRL, GBP, NOK

Most projects are multi-

currency and naturally

hedged

All currency flows are hedged

at contract signature or as

soon as they arise

Main non-euro flows are in:

US Dollars: USD

British Pound: GBP

Norwegian Krone: NOK

Brazilian Real: BRL

(1) Technip reports in euros

2014 Revenues by Currency(1)

EUR versus main currencies

70

80

90

100

110

120

Jan-13 May-13 Sep-13 Jan-14 May-14 Sep-14

EURUSD EURBRL EURGBP EURNOKUSD / EUR BRL / EUR GBP / EUR NOK / EUR

Page 13: Fourth Quarter and Full Year 2014 Results

FY 14Y-o-Y

Change

10,725 16%

1,108 5%

10.3% (100)bp

825 (1)%

7.7% (130)bp

(74) nm

(129) nm

28.9% -

437 (23)%

4Q 14Y-o-Y

Change

Adjusted Revenue 2,816 14%

Adjusted EBITDA(1) 319 21%

Adjusted EBITDA Margin 11.3% 65bp

Adjusted OIFRA(2) after

Income/(Loss) of Equity

Affiliates

223 10%

Adjusted Operating Margin(3) 7.9% (30)bp

Adjusted Non-Current Operating

Result(33) nm

Adjusted Financial Result (68) nm

Adjusted Effective Tax Rate 32.1% -

Net Income/(Loss) of the

Parent Company80 (40)%

Fourth Quarter & FY 2014: Group Financial Highlights

(1) Adjusted OIFRA after Income/(Loss) of Equity Affiliates before depreciation and amortization(2) Adjusted OIFRA after Income/(Loss) of Equity Affiliates (3) Adjusted OIFRA after Income/(Loss) of Equity Affiliates, divided by adjusted revenue

€ million Full year main elements:

13 4Q & FY 2014 Results

SG&A expenses reduced by €69 million in 2014

Subsea adjusted revenue

grew 20%

Subsea adjusted OIFRA

grew 11%

Onshore/Offshore

adjusted OIFRA down 21%

€142 million of

non-current items

Tax rate in line with

recent average

Page 14: Fourth Quarter and Full Year 2014 Results

14

Full Year Underlying Net Income of €564 million(1)

4Q & FY 2014 Results

Sale of TPS engineering services for

buildings and infrastructure

Divestment of India diving business

(75% stake in Seamec)

Closure of Technip Offshore Wind

Depreciation of MHB(2) investment in

Malaysia, as the result of share price

variation, impacting financial results

Various restructuring actions

34

68

9

FY business

streamlining

16

9m14

non-current

4Q

closure &

restructuring

MHB

depreciation

Other

564

2014 Underlying

net income

2014

Reported

net income

437

(2) 8.5% holding in MHB

(1) Adjusted Net Income of the Parent Company before Non-Current Items

Non-current items Group Net Income (in € million)

Page 15: Fourth Quarter and Full Year 2014 Results

15

Fourth Quarter 2014 & FY 2014: Cash Flow

€ million

3 Months 12 months

Net Income / (Loss) (including

Non-Controlling Interests)83 442

Adjusted Depreciation &

Amortization96 283

Adjusted Change in Working

Capital and Others279 143

Net Cash (Used in) / Generated

from Operating Activities458 868

September

2014

December

2014

Adjusted Net

cash: 747

Adjusted Net

cash: 1,125

Adjusted Net

construction

contracts: (1,288)

Adjusted Net

construction

contracts: (1,502)

4Q & FY 2014 Results

€ million

Adjusted net cash position of €1.1 billion as of

December 31, 2014

Page 16: Fourth Quarter and Full Year 2014 Results

Changing Market Environment: Shaping Technip’s Business

1616 4Q & FY 2014 Results

Page 17: Fourth Quarter and Full Year 2014 Results

4Q & FY 2014 Results17

Operational Flexibility: Procurement and Workforce

Third party vessels

Pipes and valves

Compressors, turbines, pumps

Subsea equipment

Raw materials: carbon steel and plastic

Fired equipment, pressure vessels, heat

exchangers

Electrical equipment and cables

Process control systems

Process packages

Steel structures

Freight forwarding

Major Procurement Categories Technip Workforce Worldwide

Technip’s purchasing value

has doubled since 2008 to

reach €4.2 billion in 2014

15% of Technip’s workforce

is contracted

30 000

32 500

35 000

37 500

40 000

Jan.12

May12

Sep.12

Jan.13

May13

Sep.13

Jan.14

May14

Sep.14

40,000

37,500

35,000

32,500

30,000

Dec.

142012 2013 2014

Page 18: Fourth Quarter and Full Year 2014 Results

Normand Commander

Olympic Challenger

Skandi Africa

North Sea Atlantic

Normand Pioneer

North Sea Giant

Lease extension optionsSkandi Achiever

Divested -3 -8 -2

Total Fleet

Leased

Jointly-owned

18

Flexibility in Fleet Management

4Q & FY 2014 Results

36

19

5

27 20-2325

Wholly-owned 11 9 8

5 5 6 3-6

201520142013 2016-2017

5 93

9 6 5 0Under

Construction

New

New

+2

+2 +4

-2

+1

-1

+1

+1

Page 19: Fourth Quarter and Full Year 2014 Results

4Q & FY 2014 Results19

Capex Discipline and Cost Control

Costs

SG&A* fell by €69 million in 2014

o 6.0% of revenue in 2014 vs. 7.7% of revenue in 2013

o Further improvement targeted in 2015

Actions started above gross margin on costs,

productivity, work sharing

Capex

Continued focus on manufacturing and logistics

Decision on second replacement diving vessel on

hold

Pursued drive on non-core asset sales and smart

financing

508

314 300220

2013 2014 2015 2016

674

714

645

2012 2013 2014

Net capex: SG&A*:

R&D investment maintained in 2015 versus 2014

at ~€85 million

* Selling, General and Administrative Expenses

Page 20: Fourth Quarter and Full Year 2014 Results

20

Changing Market Environment:Engaging with Clients

4Q & FY 2014 Results20

Page 21: Fourth Quarter and Full Year 2014 Results

1 639

1,272 1,271

4Q 13 3Q 14 4Q 14

1 586

940

1,957

4Q 13 3Q 14 4Q 14

Technip showed Strong Order Intake in the Fourth Quarter

Subsea

Iracema North, Supply, Brazil

K2 field, EPCI, US Gulf of Mexico

Amethyst field, EPCI, US Gulf of Mexico

Gullfaks Rimfaksdalen, EPCI, Norway

Glenlivet field, EPCI, UK

Onshore / Offshore

Ethane cracker and derivatives complex, EP&Cm,

Louisiana, USA

Oil and gas terminal for Vashishta & S1 fields, EPC, India

Ethylbenzene styrene monomer plant, EP, China

Nasr Phase II Full Field Development*, PMC, Abu Dhabi

Ammonia production unit, EPC, Slovakia

21 4Q & FY 2014 Results

* Not in backlog as it is a services contract on reimbursable basis

Order intake

4Q 13

€ million

Order intake

4Q 13

1,639

1,586

Page 22: Fourth Quarter and Full Year 2014 Results

31%

11%

11%

18%

29%

41974

Worldwide Presence across Multiple Markets Addressing all Clients

Revenue

Asia Pacific

Middle East

Europe /

Russia

Central Asia

Africa

Americas

4Q & FY 2014 Results22

Diversified by Geography Divrsfied Backlog

42%

21%

6%

12%

19%

41791

3%

12%

9%

13%

39%

23%

Backlog Revenue

Petrochems

Others

Refining / Heavy Oil

Gas / LNG / FLNG

Shallow Water*

Deepwater

>1,000 meters*

Diversified By Market Split

Asia Pacific

Middle East

Europe /

Russia

Central Asia

Africa

Americas

1%

8%

4%

28%

29%

29%

Backlog

Petrochems

Others

Gas / LNG / FLNG

Shallow Water*

Deepwater

>1,000 meters*

Refining / Heavy Oil

* Includes subsea & offshore

Page 23: Fourth Quarter and Full Year 2014 Results

Portfolio of Solutions Adapted for our Clients

23 4Q & FY 2014 Results

EPCI Projects

(Subsea)

Technology

EPC Projects

(Onshore / Offshore)

Vessel services EP&Cm

Project Management Consultancy

Manufacturing

Conceptual and FEED

Diversified revenue streams across Technip’s segments

Page 24: Fourth Quarter and Full Year 2014 Results

Optimize Cost- and Schedule-Driven Projects

24

Conceptual studies FEED EPC(I) / Services

Prelude FLNG

Australia

Design cost-effective project execution plans by engaging early:

Genesis and Technip Stone & Webster Process Technologies

Offer Integrated solutions from design to development

Build optimized and fit-for-purpose solutions working hand-in-hand

with clients

Combine expertise from our segments with complementary assets,

technologies and capabilities

Sasol ethane cracker

USA

Juniper

Trinidad and Tobago

RAPID

Malaysia

4Q & FY 2014 Results

Page 25: Fourth Quarter and Full Year 2014 Results

Cost-Effective Solutions to Answer Clients’ Challenges

25

DownstreamUpstream

Modularization

Reference Designs

Reduce

operating costs

Optimize designs Conceptual studies and FEEDs

Technology licensing

Increase

existing assets

reliability

Conceptual studies and FEEDs

Field architecture

Smart solutions for

deepwater and harsh

environment

Overall field lay-out

Flow assurance

Overall field lay-out

Adapted Proprietary Equipment

Plant reliability studies

Technology enhancement

Life-of-field services

Inspection, Repair and

Maintenance

4Q & FY 2014 Results

Optimize Capex

Broadening portfolio of solutions, technologies and

equipment through R&D, partnerships and acquisitions

Client goals

Page 26: Fourth Quarter and Full Year 2014 Results

26

2015 Objectives Aligned with Previous Guidance

4Q & FY 2014 Results

Onshore / Offshore

Adjusted revenue around €6 billion

Adjusted operating income from recurring activities(1)

between €250 and €290 million

A slow start to the year expected

Subsea

(1) Adjusted operating income from recurring activities after Income/(Loss) of Equity Affiliate

Adjusted revenue between €5.2 and €5.5 billion

Adjusted operating income from recurring activities(1)

between €810 and €840 million

A much stronger 1Q than a year ago

Page 27: Fourth Quarter and Full Year 2014 Results

Starting 2015 in a Strong Position

Technology

Vertical integration

Well diversified, profitable

backlog

Key differentiating assets

National content

Execution capability

27 4Q & FY 2014 Results

A record backlog of projects to deliver

Actions in place to reduce our costs

Capex discipline reinforced

A proactive response built on solid foundations to

address a challenging market

Engaging early with clients to improve their

projects

Investing in skills, people and technology

Broadening our range of services worldwide

Page 28: Fourth Quarter and Full Year 2014 Results

Annex

Page 29: Fourth Quarter and Full Year 2014 Results

A World Leader Bringing Innovative Solutions to the Energy Industry

A world leader in project management, engineering and construction for oil & gas,

chemicals and energy companies

Services provided to clients in its segments: Onshore/Offshore and Subsea

More than 38,000 people in 48 countries

2014 Adjusted Revenue: €10.7 billion; Adjusted Operating margin of 7.7%*

* Adjusted operating income from recurring activities after Income/(Loss) of Equity Affiliates, divided by adjusted revenue

4Q & FY 2014 Results29

Page 30: Fourth Quarter and Full Year 2014 Results

Global Business with Unique Worldwide Footprint

(1) Former Duco

Evanton

Orkanger

Vitória

Açu

Macaé

Port of Angra

Pori

Asiaflex Products:

Tanjung Langsat Batam

Flexi France:

Le Trait

Perth

Angoflex: Lobito

Dande

Port Harcourt

Cairo

Baghdad

AshgabatBaku

Accra

Lagos

Luanda

Port-Of-SpainCaracas

Bogota

Ciudad del CarmenMexico City

Claremont

Calgary

Technip Umbilicals(1) Inc:

Houston

Mobile

Boston

Weymouth

New Delhi

Seoul

Shanghai

Houston

Rio de Janeiro

Kuala Lumpur

Singapore

Jakarta

Balikpapan

Miri

St. John’s

Lisbon

Mumbai

Chennai

BangkokRayong

Ho Chi Minh City

Abu Dhabi

Al-KhobarDoha Dubai

Rome

Paris

Barcelona

MarseilleLyonDüsseldorf

LondonMilton Keynes

Aberdeen

Warsaw

St. Petersburg

Zoetermeer

Athens

4 Flexible Pipe Plants

4 Umbilicals Plants

4 Spoolbases

1 Construction Yard

4 Logistic Bases

Regional Headquaters

Operating Centers

Technip Umbilicals(1) Ltd: Newcastle

StanvangerOslo

Monterrey

4Q & FY 2014 Results30

118 nationalities

across 48 countries

Kuwait

Page 31: Fourth Quarter and Full Year 2014 Results

Complementary Business Segments…

Proven track record with customers & partners

Early involvement through conceptual studies

and FEEDs

Engineering, procurement and construction

Project execution capabilities

First class assets and technologies

Technologically advanced manufacturing

plants

Advanced rigid & flexible pipes

High performing vessels

Very broad execution capabilities

Know-how

High added-value process skills

Mastering design of all platform types

Own technologies combined with close

relationship with licensors

Unique vertical integration

R&D

Design & Project Management

Manufacturing & Spooling

Installation

Onshore Offshore

2014:

Adjusted Revenue: €5,844 million

Adjusted Operating Income: €276 million

2014:

Adjusted Revenue: €4,880 million

Adjusted Operating Income: €635 million

4Q & FY 2014 Results31

Subsea

Page 32: Fourth Quarter and Full Year 2014 Results

9,72814.1%13.0%

351

276

6.7%

4.7%

…Driving Financial Structure and Performance

Subsea Onshore/Offshore

Adjusted

Operating

Income(1)

Adjusted

Operating

Margin(2)

€ million

Backlog

Adjusted

Operating

Income(1)

Adjusted

Operating

Margin(2)

Backlog

11,208

575635

4Q & FY 2014 Results32

FY14FY13 FY14FY13 FY14FY13FY14FY13 4Q14 4Q14

(1) From recurring activities after Income/(Loss) of Equity Affiliates(2) Operating income from recurring activities after Income/(Loss) of Equity Affiliates, divided by adjusted revenue

Page 33: Fourth Quarter and Full Year 2014 Results

Pursue a Balance of Contract Sizes(1)

€9.7 billion backlog

Kaombo, our largest project, added over

€1.5 billion

Next largest projects:

Moho Nord, Congo

T.E.N., Ghana

Block 15/06, Angola

Quad 204, Scotland

Jangkrik, Indonesia

Edradour, Scotland

Subsea Onshore & Offshore

€11.2 billion backlog

Yamal LNG, our largest project, added

over €4 billion

Next largest projects:

Prelude FLNG, Australia

Martin Linge platform, Norway

Sasol ethane cracker, USA

Umm Lulu offshore facilities, UAE

Juniper, Trinidad & Tobago

4Q & FY 2014 Results

(1) Backlog as of December 31, 2014. Long term charters not included, reflects the new application of IFRS 10, 11 & 12

33

12 projects in €100 - 350 million

Kraken, Scotland

Åsgard Subsea Compression, Norway

~70 projects in €10 - 100 million

Kodiak, US Gulf of Mexico

Snøhvit CO2, Norway

18 projects in €100 - 600 million

Duslo Ammonia plant, Slovakia

Block SK 316, Malaysia

~40 projects in €10 - 100 million

Vashishta & S1 fields, India

Matindok, Indonesia

Page 34: Fourth Quarter and Full Year 2014 Results

Adjusted Consolidated Statement of Financial Position € million December 31, December 31,

2013(1) 2014

Fixed Assets 5,976.9 6,414.2

Construction Contracts – Amounts in Assets 405.0 756.3

Other Assets 3,436.2 3,691.2

Cash & Cash Equivalents 3,205.4 3,738.3

Total Assets 13,023.5 14,600.0

Shareholders’ Equity 4,174.1 4,375.2

Construction Contracts – Amounts in Liabilities 1,721.4 2,258.2

Financial Debts 2,373.8 2,613.0

Other Liabilities 4,754.2 5,353.6

Total Shareholders’ Equity & Liabilities 13,023.5 14,600.0

34 4Q & FY 2014 Results

Page 35: Fourth Quarter and Full Year 2014 Results

Subsea Vertical Integration:Customer Support from Concept to Execution

Concept

Project Engineering & Procurement

R&D / Proprietary Software & Hardware / Life of Field

Execution

Support, Diving & Logistics

(1) Genesis Oil & Gas Consultants, a wholly owned & fully independent subsidiary of Technip(2) FEED: Front End Engineering Design

Pre-FEED(2) and FEED

Offshore field

development studies

Innovative technology

solutions for platform and

subsea challenges

Upstream

Engineering

with Genesis(1)

Flexible risers and flowlines

Rigid Pipeline Welding/Spooling

Umbilicals

Manufacturing

Rigid S-Lay

Heavy-lift for

Subsea

infrastructure

Offshore

topside

installation

Flexible-lay

Umbilical-lay

Associated

construction

Rigid Reel-lay

Rigid J-lay

Installation

P

R

O

J

E

C

T

M

A

N

A

G

E

M

E

N

T

4Q & FY 2014 Results35

Page 36: Fourth Quarter and Full Year 2014 Results

Differentiation Through Genesis

Provide independent decision support from pre-feasibility,

through feasibility, concept selection and pre-FEED

Over 1,500 dedicated Engineers and Designers

Delivering Fit-for-Purpose Solutions for more than 25 years

World class approach to option identification and evaluation

Reference Class Cost Estimating and evaluation of schedule, availability

and risk and uncertainty to robustly identify highest value option

Efficient execution and delivery from FEED through detailed

design

Experts at Operations support

Can simplify and speed-up project execution by leveraging

the in-country resources of Technip, as required

4Q & FY 2014 Results36

Genesis adds Value at Front-end of Projects

Page 37: Fourth Quarter and Full Year 2014 Results

Innovation & Technology Center (ITC)

Innovation & Technology Center (1) in

Rueil-Malmaison, France

(1) Inaugurated in June 2013

ITC Showroom

Electrically trace heated pipe-in-pipe

(ETH-PIP)

Vibrating Wire technology

Boost innovation to provide our clients with

solutions for increasing complex & harsh subsea

developments

Demonstrate Technip’s in-house technologies

(flexible pipe, rigid pipe, hybrid risers, life-of-field

monitoring and umbilicals)

Develop partnership and synergies with relevant

external technology stakeholders

Reinforce our drive to develop

innovative solutions

4Q & FY 2014 Results37

Page 38: Fourth Quarter and Full Year 2014 Results

Subsea Equipment(2)

(Separator & pump)

World’s Only Integrated Subsea Solution Provider

Genesis(1): Providing independent subsea architecture development and

component selection

Technip: Integrating our subsea proprietary technologies and offshore platform

know-how with third party processing equipment to provide innovative

development solutions

Umbilicals

(Power & control)

Electrically Trace

Heated Pipe-in-pipe

In-line Monitoring

Technologies

Technip proprietary technologies

Integrated Production

Bundle

(1) Genesis Oil & Gas Consultants, a wholly owned & fully independent subsidiary of Technip(2) Third party equipment

4Q & FY 2014 Results38

Page 39: Fourth Quarter and Full Year 2014 Results

Deepwater infield linesUltra-deep water infield lines (Very high tensions: alliance with Heerema)

Deep-to-shore

Very Broad Execution Capabilities in Subsea

S-Lay

Heavy

Lift

Subsea

Heavy

Lift

J-Lay

&

Reel-Lay

J-Lay

&

Reel-Lay

4Q & FY 2014 Results39

Page 40: Fourth Quarter and Full Year 2014 Results

4Q & FY 2014 Results40

2014 - 2015 2016 - 2017 2018 - 2019 2020 - 2021 2022 - 2023 2024 - 2025

Vessels built and being built in Brazil

Vessels under operation

Vessels under construction

Vitória

Olinda (8-year charter)

Niterói

Coral Do Atlantico (5-year charter)

Estrela Do Mar (5-year charter)

Buzios (8-year charter)

Açu (8-year charter)

Recife (8-year charter)

5-year option

5-year option

5-year option

8-year option

8-year option

8-year option

8-year option

300t

300t

650t

650t

250t

250t

550t

550t

Tonnage

pre-salt

fields

Four new PLSVs with DOF

PLSV orders driving future demand for flexibles

High Visibility in Brazil through Strong PLSV

Demand

As of December 31, 2014

Page 41: Fourth Quarter and Full Year 2014 Results

High Performing Fleet(1) Per Type of Vessel

(1) As of December 31, 2014 - fleet of 21 vessels excluding 6 under: 4 PLSVs, Skandi Africa (Construction vessel), Deep Explorer (DSV)

(2) Photo by Bjørn Ottosen, courtesy of North Sea Shipping

4Q & FY 2014 Results41

Wholly-owned/controlled LeasedJointly-owned

Rigid Reel

Lay & J-LayApache II

Deep Blue

Deep Energy3 vessels

S-Lay Heavy

Lift Global 1200

Global 12012 vessels

Diving Multi

Support

Vessel

Wellservicer

Orelia

Skandi Achiever

Olympic Challenger

Normand Pioneer

Skandi Arctic

6 vessels

Flexible Lay

&

Construction

Deep Constructor

Deep Orient

Deep Pioneer

Sunrise 2000

North Sea Atlantic

North Sea Giant

Coral Do Atlantico

Estrela Do Mar

Skandi Niteroi

Skandi Vitoria

10 vessels

(2)

Page 42: Fourth Quarter and Full Year 2014 Results

Technip Heerema Strategic Alliance: Award of Kaombo Project in April 2014

Unique complementarity of capabilities for EPCI

projects in complex environments:

Experienced engineering & project management

High capacity vessels with state-of-the-art laying

technologies (J-, Reel-, S- and Flex-Lay)

Logistic and construction network

(yards, manufacturing plants)

Sales & business development network

Client: Total and Sonangol

Block 32 offshore Angola at water depths up to 2,000 meters

Engineering, procurement, fabrication and installation of rigid and flexible

flowlines, risers and umbilicals

High national content with local manufacturing: Dande spoolbase and

Angoflex plant (Technip), Porto Amboim (Heerema)

Use of Heerema and Technip vessels and teams

Technip’s separate contract to supply umbilical system

4Q & FY 2014 Results42

Page 43: Fourth Quarter and Full Year 2014 Results

World Leader in Gas Monetization, Refiningand Petrochemicals

Gas treatment

LNG

(Liquefied Natural Gas)

GTL (Gas to Liquids)

Ethylene

Polyolefins

Aromatics

Fertilizers

Hydrogen

Clean fuels

Heavy oil upgraders

Braskem Ethylene XXI, FEED & EPC, Mexico

JBF Purified Terephthalic Acid, EPCm, India

CPChem polyethylene plants, EPC, USA

Sasol Ethane Cracker, FEED & EP&Cm, USA

ASCENT, PDP & License, USA

SATORP Al Jubail, FEED & EPC, Saudi Arabia

Burgas refinery, EPC, Bulgaria

Petronas RAPID, FEED & PMC & EPCm,

Malaysia

Fengzhen LNG Plant, EP, China

Trunkline LNG, FEED, USA

Yamal LNG, EPC, Russia

Gas Monetization

Refining

Petrochemicals

4Q & FY 2014 Results43

Page 44: Fourth Quarter and Full Year 2014 Results

Technip has a Portfolio of Market Leading Onshore Technologies

Renewables

Hydrogen

Fertilizers

Product Line Technologies

Steam Methane Reforming, Syngas, and Hydrogen Production

Ammonia/Urea, Phosphoric and Sulfuric Acids

Proprietary Technologies for Steam Cracking and Olefin Purification

Polyolefins, Styrenics, Phenolics, Purified Terephthalic Acid

Wind, Solar, Renewable Fuels, Geothermal, Carbon Capture

Refining

Ethylene

Petrochemicals

& Polymers

Gas Monetization Cryogenic Separation, Gas Liquefaction, Gas Processing

Metals & Mining

Fluid Catalytic Cracking, Refinery/Petchem Integration, Master Plan

Fluosolids® metal roasting, mixer/settler

Proprietary

technologies

Best-in-class alliance

partners

Investments in R&D

‘‘First of a kind’’

technology

Global teams of

technological experts

Close integration

between technology &

project delivery

4Q & FY 2014 Results44

Page 45: Fourth Quarter and Full Year 2014 Results

Licensed proprietary

technologies chosen at early

stage of projects

Technip Stone & Webster Process Technology Diversifies Revenue Streams

Process Design / Engineering Proprietary Equipment Licenses

Design, supply and installation

of critical proprietary

equipment

Process design packages /

engineering to guarantee plant

performance

Assistance to plant start-up and

follow-up during plant

production

~US$50 million*<US$5 million* <US$50 million*

* Project size order of magnitude

4Q & FY 2014 Results45

Offering three types of services

Page 46: Fourth Quarter and Full Year 2014 Results

U.S. Shale Gas Opportunities

Drilling

Wellhead

Fracking

Transportation

Infrastructure

Natural Gas

Liquefaction

and Export

(LNG)

Derivative Units Propylene

Polymers

GAS

Upstream

Extraction

Midstream

Separation

Downstream

Monetization

Ethylene Plants Grassroots

Revamps

NGL’s

Synthesis Gas Ammonia

Methanol

Hydrogen

Gas to Liquids –

Synthetic Fuels

(GTL)

Gas Treatment /

NGL Extraction

Plants

46

Technip’s Leading Positions

Fourth Quarter & Full Year 2014 Results

Page 47: Fourth Quarter and Full Year 2014 Results

Yamal LNG: High Revenue and Capacity Utilization

Visibility through 2019

Early involvement with 14 months of project planning, detailed

engineering until finalization of contract award in May 2014

Technip order intake:

lump-sum scope €4.5 billion booked in 2Q 2014: engineering,

procurement and fabrication of modules

reimbursable scope ~$4 billion to be progressively booked as

work orders are received: on-the-ground construction

Well-known experience in LNG and Modularization: Qatargas,

Yemen LNG, Nigeria LNG, Koniambo nickel, FLNGs and FPSOs

Status of project*:

Engineering & procurement activities continue to ramp up

Fabrication of modules began at all of the Asian yards: steel

cutting for modules of the first train

On-site: Preparation (accommodation, port, airport) and piling

(for the LNG trains) resumed at the Sabetta site

Yamal

(Russia)

4Q & FY 2014 Results47

*As of December 31, 2014

Project overview

Client: Yamal LNG (Novatek, Total, CNPC)

Technip leader of partnership (50%) with JGC & Chiyoda

3 trains of 5.5 mtpa capacity each to be delivered over 2017,

2018 and 2019

200 modules weighing ~450,000 tons

Page 48: Fourth Quarter and Full Year 2014 Results

A unique and Customized Product Range to Match Offshore Client Needs

Conventional

Fixed Platforms

Self-Elevating

(TPG 500)GBS

FPSO Semi-Submersible Spar TLP

Artificial Islands

FLNG

Floatover

Installation

HU&C

Modifications

Floating Facilities

Fixed Facilities Services

4Q & FY 2014 Results48

Complete range of technological solutions to answer

the challenges faced by our clients

Page 49: Fourth Quarter and Full Year 2014 Results

FLNG Leader with First Mover Advantage

4Q & FY 2014 Results49

Shell FLNG Petronas FLNG 1

Unique combination of Technip’s technologies

and know-how from all of our business segments

LNG capacity: 3.6 mtpa

Field: Prelude, Western Australia

Project Status:

Construction ongoing in Korea

Hull steel cut in October 2012

Launched hull in November 2013

First Topside installed in 2014

LNG capacity: 1.2 mtpa

Field: Offshore Malaysia

Project Status:

Construction ongoing in Korea

Execution started in June 2012

Hull steel cut in June 2013

Launched hull on April 7, 2014

First Topside installed September 2014

Page 50: Fourth Quarter and Full Year 2014 Results

Technip: Attractive Long Term Partner*

Sasol Front-end engineering services for future

Sasol GTL projects

Air Products 20-year milestone of the longest and most

productive global hydrogen alliance

supporting the oil and gas industry

ExxonMobilCreation of a JV. Badger Licensing LLC to

offer technology in the area of phenolics to

produce cumene and bisphenol-A (BPA)

and in the area of styrenics to produce

ethylbenzene and styrene

MMHELong-term strategic collaboration to work

jointly on onshore and offshore projects,

designing and building offshore platforms,

exchanging expertise and developing

technology

COOECCombines the know-how, technical

resources, complementary assets,

commercial and financial capabilities of

both companies to target deepwater EPCI

SURF projects in China

HQCTwo joint ventures to improve access to

the European and Chinese procurement

markets

HeeremaAlliance through combination of unique

assets and engineering resources to help

clients best address the fast growing

subsea ultra-deepwater market

ShellAgreement to enhance collaboration on

the design, engineering, procurement,

construction and installation of future

FLNG facilities

BP Long-standing agreement in the purified

terephthalic acid domain. Also the

exclusive provider of the Inside Battery

Limit FEED to BP for third-party licensing

4Q & FY 2014 Results50

* Multitude of other partnerships apart from the ones listed above

Page 51: Fourth Quarter and Full Year 2014 Results

Engineering & project management

centers

Spoolbase: Dande, Angola

Umbilical manufacturing Plant:

Angoflex, Angola

Logistic base: Port Harcourt, Nigeria

Africa: Expanding Footprint and Long Term Prospects

GirRI Phase 1 and 2, Angola

Egina flexible pipe supply, Nigeria

Moho Nord, Congo

T.E.N., Ghana

Block 15/06, Angola

Kaombo, Angola

~1,000 people

1st office founded in 1995

Strong national content

Ultra-deep water projects requiring

technical innovation

Assets & Activities

Key Projects

Technip in Africa

Accra Lagos

Port Harcourt

Dande

Luanda

Angoflex

Dande spoolbase

Angoflex, Lobito

4Q & FY 2014 Results51 As of December 31, 2014

Operating centers

Spoolbase

Manufacturing plant (umbilicals)

Logistic base

Page 52: Fourth Quarter and Full Year 2014 Results

Asiaflex Prelude FLNG, Australia

Petronas FLNG1, Malaysia

Malikai TLP, Malaysia

Block SK 316, Malaysia

Jangkrik, Indonesia

RAPID, Malaysia

Bangka, Indonesia

Maharaja Lela & Jamalulalam

South, Brunei

Engineering & project management centers

Flexible/umbilical manufacturing plant:

Asiaflex, Malaysia, 1st and only one in Asia

Logistic base: Batam, Indonesia

Fabrication yard: MHB(1), Malaysia, with solid

platform track record

Vessels: G1201(2), Deep Orient

Asia Pacific: Global Implementation for High Potential Market

Perth

Bangkok

Shanghai

Singapore

Jakarta

Balikpapan

~9,000 people

Founded in 1982

Successful partnerships and

alliances: COOEC, HQC & MMHE

Technip in Asia Pacific

(1) 8.5% participation

Batam

Assets & Activities

Key Projects

Kuala Lumpur

New Delhi

Mumbai

Chennai

Seoul

Miri

Rayong

Ho Chi Minh City

(2) Operating partly in Asia Pacific

Prelude, FLNG

Asiaflex, Malaysia

4Q & FY 2014 Results52

Regional Headquarter

Logistic Base

Manufacturing plants (umbilicals)

Operating centers

Manufacturing plants (flexible pipelines)

As of December 31, 2014

Page 53: Fourth Quarter and Full Year 2014 Results

Middle East: Largest Engineering Capacity in the Region

Upper Zakum 750 + EPC1, UAE

Halobutyl elastomer plant, Saudi Arabia

Umm Lulu package 2, UAE

Jalilah B, UAE

FMB platforms, Qatar

New Refinery units FEED, Bahrain

Nasr Phase II Full Field Development, UAE

Key Projects

~2,500 people

Founded in 1984

Technip in Middle East

Abu Dhabi, UAE

Yemen LNG

Al-Khobar

Doha Dubaï

Baghdad

Abu Dhabi

Engineering & project management

centers

Wide range of services: from

conceptual and feasibility studies to

lump sum turnkey projects

Construction methods center &

supervision hub

Assets & Activities

4Q & FY 2014 Results53

Regional Headquarter

Operating centers

Kuwait

As of December 31, 2014

Page 54: Fourth Quarter and Full Year 2014 Results

CPChem, polyethylene expansion, USA

Ethylene XXI plant, Mexico

BG Trunkline LNG, Lake Charles, USA

Delta House, US Gulf of Mexico

Juniper, Trinidad and Tobago

Ascent ethane cracker and polyethylene

units, USA

Sasol ethane cracker, USA

K2 Riser Bas Gas Lift, Gulf of Mexico

BostonWeymouth

Calgary

Claremont

Monterrey

Mexico City Ciudad delCarmen

Houston

Mobile

Engineering & project management centers with

Subsea, and Onshore/Offshore capabilities

SpoolbaseMobile, Alabama

Umbilical plant Channelview, Texas

Vessels: Deep Blue,

Global Orion, G1200

North America: Solid Reputation With Enhanced Portfolio of Downstream Technologies

Assets & Activities

Key Projects

~3,300 people

Founded in 1971

Technip in North America

Ethylene XXI Plant, Mexico

Technip Umbilicals Inc

4Q & FY 2014 Results54

Regional Headquarter

Spoolbase

Manufacturing plants (umbilicals)

Operating centers

As of December 31, 2014

Lucius Spar, US Gulf of Mexico

Mobile spoolbase, Alabama

Technip Umbilicals plant, Houston

Page 55: Fourth Quarter and Full Year 2014 Results

St. John’s

Evanton

London

Pori

Oslo

Orkanger

Stavanger

Milton Keynes

Aberdeen

Engineering & project management centers

Spoolbases Orkanger, Norway

Evanton, Scotland

Steel tube/thermoplastic umbilical plant Technip Umbilical, Newcastle, UK

Yard: Pori, Finland, specialized in Spar platforms fabrication

Vessels:

North Sea Canada: Strengthening our Presence

Assets & Activities

Spoolbases

Construction yard

Manufacturing plants (umbilicals)

Quad 204, Scotland

Åsgard Subsea Compression, Norway

Bøyla, Norway

Valdemar & Roar Gas Lift, Denmark

Edradour & Glenlivet, Scotland

Kraken, Scotland

Gullfaks, Norway

Key Projects

Apache II

Skandi Arctic Deep Energy

Skandi Achiever

Regional Headquarter

Operating centers

~4,500 people

1st office founded in 1978

Technip in North Sea Canada

Haugesund

4Q & FY 2014 Results55

Technip Umbilicals Ltd: Newcastle

As of December 31, 2014

Evanton spoolbase, Scotland Newcastle plant, UK

Page 56: Fourth Quarter and Full Year 2014 Results

Brazil: Building upon Solid & Profitable Business

Wide range of assets:

High-end manufacturing plants: Vitória and

Açu (world’s most technologically

advanced plant)

10 Flexible Pipelay vessels (PLSVs) on

long-term charters(1)

Commitment to R&D: taking pre-salt

development further

Vertical integration: providing supply chain

& logistic solutions

Differentiating Assets & Activities

Flexible pipe supply for ultra-deep pre-salt

developments: Sapinhoá & Lula Nordeste,

Iracema Sul, Sapinhoá Norte & I5,

Iracema Norte, Lula Alto

P-76 FPSO

Papa-Terra Integrated Production Bundle

Key Projects

~4,700 People

Founded in 1977

Exceed national content requirements

Operational discipline

Flexible supply expertise

Technip in Brazil 38 years

(1) four under construction including, four Brazilian built

Vitória

Açu

Macaé

Port of Angra

Rio de Janeiro

4Q & FY 2014 Results56

Regional Headquarter

Port and Logistic bases

Manufacturing plants (flexible pipelines)

As of December 31, 2014

Coral Do Atlantico & Estrela Do Mar

Flexibras, Brazil

Açu, Brazil

Page 57: Fourth Quarter and Full Year 2014 Results

Technip in Brazil: Steady Development to Provide Unmatched Local Content

1st IPB(2) in Brazil

1st Brazilian PLSV:

Skandi Vitória

Flexibras:

1st Flexible plant

(1) Long Term Charter(2) Integrated Production Bundle

New manufacturing plant:

Açu 6 PLSVs on long-term

charters for up to 3,000m

water depth

~4,700

people

1977

2009

1986

1995

2010

2014

2001

2011

2007

2012

Acquisition of

UTC Engineering

~20 people

Roncador Field

Development

& P-52 Platform

1,800m water depth

~2,000

people P-58/P-62 Brazilian FPSOs award

Acquisition of

Angra Porto logistic base

2nd Brazilian PLSV:

Skandi Niteroi

Flexible pipe

frame agreement

with Petrobras

4Q & FY 2014 Results57

Garoupa

Platform

1st flexible pipe

installed

100m water depth

1st LTC(1) with

Petrobras: Sunrise

As of December 31, 2014

Page 58: Fourth Quarter and Full Year 2014 Results

Listed on Euronext Paris

Shareholding Structure, November 2014 (May 2014)

58

North America

37.6% / (35.1%)Treasury Shares

1.2% / (1.8%)

Employees

1.8% / (1.8%)

IFP Energies Nouvelles

2.5% / (2.5%)

Rest of World

15.0% / (14.8%)

French Institutional Investors

13.8% / (15.7%)

Individual Shareholders*

7.5% / (7.31%)

Others

5.8% / (6.1%)

UK & Ireland

9.6% / (10.8%)

Institutional

Investors

79.44% / (80.82%)

BPI

5.2% / (5.2%)

Source: Thomson Reuters, Shareholder Analysis, Nov 2014

*Note: Some nominative shareholders were previously classified under unidentified and are now included in retail shareholders. November

2013 and May and November 2014 have been restated accordingly. The overall number of retail shareholders has remained constant.

4

Q

&

F

Y

2

0

1

4

Page 59: Fourth Quarter and Full Year 2014 Results

59

Technip’s Share Information

Bloomberg: TEC FP Reuters: TECF.PA SEDOL: 4874160

OTC ADR ISIN: US8785462099OTCQX: TKPPY

Convertible Bonds:OCEANE 2010 ISIN: FR0010962704

OCEANE 2011 ISIN: FR0011163864

ISIN: FR0000131708

4Q & FY 2014 Results

Page 60: Fourth Quarter and Full Year 2014 Results

Bloomberg ticker: TKPPY

CUSIP: 878546209

OTC ADR ISIN: US8785462099

Depositary bank:

Deutsche Bank Trust Company Americas

Depositary bank contacts:

ADR broker helpline: +1 212 250 9100 (New York)

+44 207 547 6500 (London)

e-mail: [email protected]

ADR website: www.adr.db.com

Depositary bank’s local custodian: Deutsche Bank Amsterdam

Technip has a sponsored Level 1 ADR

4Q & FY 2014 Results60