maire tecnimont group overview · experience in process engineering 1988 mannesmann acquired kti...
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MAIRE TECNIMONT GROUP OVERVIEW
January 2018
DISCLAIMER
This document has been prepared by Maire Tecnimont S.p.A. (the “Company”) solely for use in
the presentation of the Maire Tecnimont Group (the “Group”).
This document does not constitute or form part of any offer or invitation to sell, or any
solicitation to purchase any security issued by the Company.
The information contained and the opinions expressed in this document have not been
independently verified. In particular, this document may contain forward-looking statements
that are based on current estimates and assumptions made by the management of the Company
to the best of its knowledge. Such forward-looking statements are subject to risks and
uncertainties, the non-occurrence or occurrence of which could cause the actual results –
including the financial condition and profitability of the Group – to differ materially from or be
more negative than those expressed or implied by such forward-looking statements. This also
applies to the forward-looking estimates and forecasts derived from third-party studies.
Consequently, neither the Company nor its management can give any assurance regarding the
future accuracy of the estimates of future performance set forth in this document or the actual
occurrence of the predicted developments.
The data and information contained in this document are subject to variations and integrations.
Although the Company reserves the right to make such variations and integrations when it
deems necessary or appropriate, the Company assumes no affirmative disclosure obligation to
make such variations and integrations.
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SUMMARY
1. Group Overview
2. Strategy and Competitive
Positioning
3. Operations and
Commercial Activity
4. Financial Data
5. Conclusions
MAIRE TECNIMONT GROUP
• Leading worldwide engineering contractor
focusing on:
– Oil&Gas
– Petrochemicals
– Fertilizers
• Flexible Business Model spanning the entire
value chain:
– Project Development
– Licensing and Engineering Services (E)– Engineering & Procurement (EP)
– Engineering, Procurement & Construction
(EPC)
– Life Cycle Support
• Two main Business Units:
– Technology, Engineering & Construction
– Infrastructure & Civil Engineering
4
Key Indicators
Revenues by Business Unit
96%
4%
TE&C Infrastructure
€2.6 bn Revenues (9M 2017)
8,400 Employees and E&I professionals
50 Operating companies
€7.6 bn Backlog (September 30, 2017)
€1.4 bn Market Cap (Jan. 16, 2018)
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2005 2007 2009 2010 2011 2013 2015 2017
1899FIAT GROUP
2004
Acquisition of Fiat Engineering
(later MAIRE ENGINEERING)
1972Incorporation of
FIAT ENGINEERING
2001Acquisition of FIAT Avio’s Electric
Design & Construction Business
1973Incorporation of
TECNIMONT
1966Incorporation of
MONTEDISON
1884EDISON
Power Supply
1888MONTECATINI
Mines and Chemicals
2005Maire Group acquires Tecnimont
Listing on the Italian Stock
Exchange
1947Incorporation of
STAMICARBON
Chemical and Fertilizer
licensing
1937Dutch State Mines – DSM
research centre for services
work to coal mines
Acquisition of Stamicarbon
100% Acquisition of the Indiansubsidiary Tecnimont Pvt. Ltd. (formerly TICB)
1958Incorporation of ICB Pvt Ltd as consulting
firm in the plant sector in Mumbai
1977Creation of the first JV
between ICB and Tecnimont
1990sTecnimont acquires 50% of the Indian
company renamed as Tecnimont ICB Pvt
Ltd (TICB)
1971Kinetic Technology Int. - KTI
More than 40 years of
experience in process engineering
1988Mannesmann acquired KTI
1999Technip Italy acquired KTI
Acquisition of KT Kinetics Technology (formerly Technip KTI)
Reorganization of
Italian HQs
New Milan Offices
Launch of theNew Business
Strategy
1963Giulio Natta
Nobel Prize for
chemistry
Incorporation of MAIRE TECNIMONT
Repositioning Completed
Our Evolution
KEY MILESTONES
5
Record Backlog and
Sales
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GROUP STRUCTURE
Large-scale
contracting in:• Oil & Gas
• Polyolefins
• Fertilizers
• Refining
• Hydrogen and
Syngas Production
• Sulphur Recovery
• Fertilizers
Technology
• Infrastructure &
Civil Engineering
• Renewable Energy
Technology, Engineering & Construction Infrastructure &
Civil Engineering
6
Business
Unit
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TECHNOLOGY, ENGINEERING & CONSTRUCTION
LIFE-CYCLE SUPPORT
FERTILIZERS
OIL & GAS
PETROCHEMICALS
LICENSING
EXECUTION- DRIVENTECHNOLOGY-DRIVEN
ENGINEERING PROCUREMENT CONSTRUCTION
Maire Tecnimont Group’s Presence Across the EPC Value Chain
• Startup
• Operation
Advice
• Maintenance
• Inspections
• Revamping
Full Involvement: From Project Development to Life-Cycle Support
Subsidiary:
PROJECT DEVELOPMENT
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INFRASTRUCTURE & CIVIL ENGINEERING
� Underground projects (including the first
driverless metro system in Italy), railways,
tunnels, roads and highways
� EPC contracting for construction /
requalification of hospitals, universities, complex
buildings and industrial plants
DESIGN AND CONSTRUCTION OF
OVER 30% OF HIGH SPEED &
HIGH CAPACITY RAILWAYSCURRENTLY OPERATED IN ITALY
Long-Lasting Competencies in Transportation and Civil Engineering
300+PROJECTS SUCCESSFULLY COMPLETED IN MORE THAN 40 YEARS’ EXPERIENCE
Flexible Solutions in Renewable Energy
� Increasing focus with a dedicated team on Wind,
Solar and Biomass large-scale power plants as
reliable counterpart of international operators
� High quality services along the whole value chain:
from development and design to EPC, leveraging on
Lump Sum Turn Key expertise and global presence
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EXTENSIVE INTERNATIONAL PRESENCE
MILANROME BRAUNSCHWEIG MUMBAISITTARD
ITALY 2,281
REST OF EUROPE 332
ASIA 2,690
REST OF THE WORLD
75
Headquarters
Main offices and engineering
centres
Subsidiaries, branches and
representative offices
A Real Multicultural and Multinational Group
*Average age: ～41 years
Approx. 66% graduates
9
TOTALEMPLOYEES
5,378*
E&I division ~3,000
GRAND TOTAL ~ 8,378
Data as of: 30.9.2017MA
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MAIRE TECNIMONT GROUP’S SHAREHOLDERS
(*) Pursuant to Article 120, Paragraph 1 of the Legislative Decree no. 58 of 24 February 1998 and to Article 6 bis of the By-Laws ("Voting right
increase"), share capital of Maire Tecnimont S.p.A. refers to the total number of voting rights equal to 473,192,634.
Major Shareholders % of ordinary shares % of voting rights*
GLV Capital S.p.A. 54.877% 70.865%
Arab Development Establishment
(ARDECO)5.091% 3.287%
Schroders PLC 4.984% 3.218%
Other institutional and retail
investors35.048% 22.630%
10
NOTE: Based on the latest official information communicated to Maire Tecnimont (e.g. shareholders’ register, official filings)
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SUMMARY
1. Group Overview
2. Strategy and Competitive Positioning
3. Operations and
Commercial Activity
4. Financial Data
5. Conclusions
MAIRE TECNIMONT’S STRATEGIC PRIORITIES
Strategic Priorities
Enhance and Develop Technology Driven Business
Expand Geographic Footprint
1
2
34
5
Develop Engineering Services Revenues
Strengthen EPC in the Core Business
Align Organization and Pursue Group Synergies
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STRATEGY IMPLEMENTATION
• Pre-empt
competitive
pressures
• Leverage
technological
edge
• Client
partnerships
• Improve client
loyalty
• Revenue
diversification
• Increase plant
value-added
Provide Technological Solutions Throughout the EPC Value Chain
LIFE-CYCLE SUPPORT
LICENSING
EXECUTION- DRIVENTECHNOLOGY-DRIVEN
ENGINEERING PROCUREMENT CONSTRUCTIONPROJECT
DEVELOPMENT
Direct
License Basic Feed
Detailed
Engineering
Services EP EPC
€ 1-10m
Very High
Double Digit
High Double
Digit
High Double
Digit
Mid Double
Digit
Low Double
Digit Single Digit
Low Low Low Low High
€ 1-10m € 4-15m € 10-40m € 50-250m € 0.3-5bn
Medium
PRODUCTS
TYPICAL VOLUMES
TYPICAL MARGINS
RISK
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PROJECT DEVELOPMENT
LIFE-CYCLE SUPPORT
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GLOBAL & TECHNOLOGICAL LEADERSHIP
172
30%
Ammonia and Urea Plants
Market share in polyolefin plants
completed since 1924
40%Market share in
LDPE plants
PETROCHEMICALS FERTILIZERS
Well rooted technology orientation: market leader (#1)
for installed capacity
WORLD CLASS TRACK RECORD
in Large Gas Treatment Plants and Refinery
Process Units
OIL & GAS
WELL RECOGNIZED LEADERSHIP
in Licensing hydrogen technology and in licensing Sulphur Recovery and Tail Gas Treatment Technology
* Data are based on corporate analysis
54%Market share in
licensing urea plants technology
(#1 worldwide)*
34%Market share
in licensing urea granulation technology
(#2 worldwide)*
62 Polyethylene Plants
117 Polypropylene Plants
Since 1970
1,100 +Individual Patents
Strong commitment to technology development
230Hydrogen and Sulphur Recovery
Unit Projects completed
Since 1971
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OUR OPERATIONS ARE DRIVEN BY POSITIVE BUSINESS TRENDS
• Gas monetization: Cheap feedstock supports owner’s investment attractiveness
• Strong demand for plastics-based products
• Gas monetization
• Demography and agricultural modernization driving long term
demand for nitrogen-based fertilizers
• Technology barriers
• Midstream Oil and Gas Treatment
• Refining: Revamping & Capacity upgrade
• Integration between petchem and refining
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FERTILIZERS
PETCHEM
OIL & GAS
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DIFFERENTIATING FACTORS VS. OUR COMPETITORS
• Our focus is Downstream and Gas Transformation, not Upstream
• Flexible business model
• Asset light: no idleness
• Leverage on our strong technological IPs
• Client diversification (NOCs vs. IOCs)
• Global approach with focus on specific geographies
Our Group is Well Positioned to Face the Current Environment
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MAIRE TECNIMONT HAS BEEN OUTPERFORMING THE SECTOR
Maire Tecnimont’s Relative Performance, 6/20/14 – 1/15/18
Maire Tecnimont BEUOILS Index WTI Future
Correlation Coefficient MT – BEUOILS = — 0.24 MT – WTI Future = — 0.21 BEUOILS – WTI Future= + 0.95
Our Stock is Not Correlated to the Oil Price 17
Source: Bloomberg. BEUOILS Index Components: Subsea 7, Saipem, Petrofac, John Wood Group, SBM, Amec FW, TGS
20
70
120
170
220
Jun-14 Sep-14 Dec-14 Mar-15 Jun-15 Sep-15 Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17
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GROUP RESPONSIVENESS TO MARKET DISCONTINUITY
CORE BUSINESS
EXECUTION
REVAMPING
TECHNOLOGY &
SERVICES
INTEGRATED PROJECTS
RENEWABLES & GREEN
CHEMISTRY
NEW GEOGRAPHIES
PROJECT DEVELOPMENT
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•Oman
•Malaysia
•Indonesia
•West Africa
•Americas
•Wind, Solar
•Biomass
•Bio-chemicals
•Reinforcing competencies to
tackle increasing scale and
complexity of plants
•Siluria Technologies
•H2S cracking
•Technologies adjacent to urea
•New Clean Coal Technologies
•New way of originating
business through early
involvement in
investment initiatives
•Dedicated revamping
engineering initiatives
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SUMMARY
1. Group Overview
2. Strategy and Competitive
Positioning
3. Operations and Commercial Activity
4. Financial Data
5. Conclusions
COMPLETED PROJECTUNDER REALIZATION PROJECT
PDH PLANT, TOBOLSK (WESTERN SIBERIA)CLIENT: Tobolsk Polymer LLC CONTRACT TYPE: EPC €660m
LLDPE-HDPE-PP PLANTS, DAHEJ (GUJARAT, INDIA)CLIENT: OPALCONTRACT TYPE: EPC US$440m
PE/NAO PLANTS, MESAIEED (QATAR)CLIENT: Qatar Chemical Company IICONTRACT TYPE: EPC US$830m
POLYOLEFINS COMPLEX, RUWAIS (UAE) BOROUGE 1 - BOROUGE 2 – BOROUGE 3CLIENT: BorougeCONTRACT TYPE: (1) US$ 445m, (2) US$1.8bn, (3) EPC S$1.7bn
POLYOLEFINS UNITS (RAPID), PENGERANG (MALAYSIA) CLIENT: PRPC Polymers Sdn Bhd (PETRONAS) CONTRACT TYPE: EPCC €328m
LLDPE-HDPE-PP PLANTS, SOHAR (OMAN)CLIENT: ORPICCONTRACT TYPE: EPC US$895m
PDH/POLYPROPYLENE PLANT, AL JUBAIL (SAUDI ARABIA) CLIENT: Al WahaCONTRACT TYPE: EPC €580m
HDPE UNIT (RAPID), PENGERANG (MALAYSIA)CLIENT: PRPC Polymers Sdn Bhd (PETRONAS)CONTRACT TYPE: EPCC €482m
LDPE PLANT, BRATISLAVA (SLOVAK REPUBLIC)CLIENT: Slovnaft Petrochemicals s.r.o. CONTRACT TYPE: EPC €204m
LDPE PLANT, VERACRUZ (MEXICO)CLIENT: Etileno XXI Services BV CONTRACT TYPE: EP US$191m
POLYOLEFINS COMPLEX, RABIGH (SAUDI ARABIA) CLIENT: Petro RabighCONTRACT TYPE: EPC €1.2bn
HDPE PLANT, SUMGAYIT (AZERBAIJAN)CLIENT: SOCAR PolymerCONTRACT TYPE: EPC - PP, HDPE €350m
LDPE PLANT, SADARA (SAUDI ARABIA)CLIENT: Sadara Chemical Company CONTRACT TYPE: EPC €280m
PP PLANT, SUMGAYIT (AZERBAIJAN)CLIENT: SOCAR PolymerCONTRACT TYPE: EPC - PP, HDPE €180m
MAIN PETROCHEMICAL PROJECTS
20
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MAIN OIL & GAS PROJECTS
REFINERY OFF GAS(ROG) PROJECT, ANTWERP (BELGIUM)CLIENT: Total Olefins AntwerpCONTRACT TYPE: EPC €193m
DELAYED COKER COMPLEX PROJECT AND HYDROWAX VACUUM DISTILLATION, GDANSK (POLAND)CLIENT: Lotos Asfalt SP. ZO.OCONTRACT TYPE: EPC €304m
COMBINED OIL REFINING UNIT (CORU) MOSCOW REFINERY (RUSSIAN FEDERATION)CLIENT: JSC Gazprom Neft Moscow RefineryCONTRACT TYPE: EPC €480m
OIL AND GAS TREATMENT "TEMPA ROSSA“CORLETO PERTICARA (ITALY)CLIENT: Total E&P Italia S.p.A.CONTRACT TYPE: EPC €505m
WAFA GAS PLANTS PROJECT MELLITAH & GADAMES BASIN (LIBYA)CLIENT: Agip Gas BV CONTRACT TYPE: EPC €1.2bn
AROMATICS COMPLEX SHUAIBA (KUWAIT) CLIENT: Kuwait Paraxylene Production Company (KPPC)CONTRACT TYPE: EPC US$1.2bn
INTEGRATED GAS DEVELOPMENT – HABSHAN 5 (ABU DHABI – UAE)CLIENT: GASCO CONTRACT TYPE: EPC US$4.7bn
OIL GATHERING, TREATMENT, EXPORT AL DABBI’YA PHASE III, ABU DHABI (UAE)CLIENT: ADCOCONTRACT TYPE: EPC US$2.3bn
IGD EXPANSION PROJECT (IGD-E1), GAS TREATMENT AND MARINE WORKS, DAS ISLAND (UAE)CLIENT: ADGAS (ADNOC Group)CONTRACT TYPE: EPC US$490m
LNG TERMINALCHENTOUJIA, GUANGDONG (CHINA)CLIENT: Guadong LNG JEOCONTRACT TYPE: EPC €280m
CLEAN FUEL PROJECTRABIGH, (SAUDI ARABIA)CLIENT: Petro RabighCONTRACT TYPE: EPC €148m
21COMPLETED PROJECTUNDER REALIZATION PROJECT
OIL & GAS TREATMENT PLANT, LUBIATOW (POLAND)CLIENT: Polish Oil & Gas CompanyCONTRACT TYPE: EP €91m
SULPHUR RECOVERY UNITS, MOSTOROD (EGYPT)CLIENT: Egyptian Refinery CompanyCONTRACT TYPE: EP €97m
SULPHUR COMPLEX GDANSK (POLAND)CLIENT: Grupa Lotos SA CONTRACT TYPE: EPC €111m
AMURSKI GAS PROCESSING PLANT(RUSSIAN FEDERATION)CLIENT: NIPIgaspererabotkaCONTRACT TYPE: EPC €3.9bn
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YARA, SLUISKIL (THE NETHERLANDS)CLIENT: Yara International ASACONTRACT TYPE: EPC €125m
AMMONIA PLANT, KINGISEPP (RUSSIAN FEDERATION)CLIENT: EuroChem Mineral and Chemical CompanyCONTRACT TYPE: EPC €660m
AMMONIA/UREA PLANT NEVINNOMYSSK(RUSSIAN FEDERATION)CLIENT: EuroChem Mineral and Chemical CompanyCONTRACT TYPE: E
AMMONIA PLANT NANGAL PUNJAB (INDIA)CLIENT: National Fertilizers Ltd.CONTRACT TYPE: EPC US$240m
FERTILIZER COMPLEX PROJECT AL-JUBAIL (KINGDOM OF SAUDI ARABIA)CLIENT: SAFCOCONTRACT TYPE: EPC US$350m
FERTILIZERS COMPLEX , ASWAN (EGYPT)CLIENT: KIMACONTRACT TYPE: EPC US$540m
IOWA FERTILIZER COMPANY, WEVER, IOWA (USA)CLIENT: Orascom Construction IndustriesCONTRACT TYPE: EP €250m
COMPLETED PROJECTUNDER REALIZATION PROJECT
MAIN FERTILIZERS PROJECTS
22STAMICARBON LICENSES: OVER 240 WORLDWIDE
AMMONIA DEBOTTLENECKING, Annaba, Arzew(ALGERIA)CLIENT: FertialCONTRACT TYPE: E
UREA DEBOTTLENECKING & GRANULATION PLANTSHUAIBA (KUWAIT)CLIENT: P.I.C.CONTRACT TYPE: EPC US$100m
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FLAGSHIP PROJECTS
Gas Treatment
BOROUGE 3, ABU DHABI, UAE HABSHAN 5, ABU DHABI, UAE
IOWA FERTILIZER COMPANY, IOWA, USA
Polyolefins
Refinery
ROG PROJECT, ANTWERP, BELGIUM
Fertilizers
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2017 FLAGSHIP PROJECT: THE AMURSKI GAS PROCESSING PLANT
• Largest contract ever to be awarded to our Group
• One of the largest gas processing plant in the world: feed gas capacity of 42
billion cubic meters of natural gas per year
• Part of Gazprom’s strategic plan to supply Russian natural gas to China
• First milestone of a large industrial development, including investments in
downstream petrochemicals
• Consortium with Sinopec Engineering Group
• Two phases: Lump Sum Engineering and Procurement (€1.7bn) and
Reimbursable Construction (€2.2bn)
• Expected completion in 2023
• Consolidation of the Group’s long-lasting presence in the Russian Federation
Key Characteristics
Project Overview
• Country: Russia
• Ultimate Client: Gazprom Group through
JSC NIPIgaspererabotka
• Overall Value: €3.9bn
• Scope of Work: EPC of “Package number 3”
(Utilities, Infrastructure and Offsites
facilities) of the Amurski Gas Processing Plant
Source: Gazprom
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ORDER INTAKE
Strong Order Intake Driven by Tech Leadership and Favorable Industry Dynamics
25
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7 F
INA
NC
IAL
RE
SU
LTS
2.83.2
1.8
4.0
FY 2014 FY 2015 FY 2016 9M 2017
Average = 3.0
€ billion
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BACKLOG
26
5,393
8,1787,257
434
423
376
31/3/17 30/6/17 30/9/17
TE&C Infrastructure
5,827
8,601
7,633
Backlog by Geography (Sep. 2017)
Solid and Diversified Backlog
Backlog by Business Unit(€m, 31/3-30/9/17)
&
60%21%
8%
9%
2% Others
Asia
Africa
EuropeMiddle East
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MAIRE TECNIMONT’S BACKLOG VS. WTI OIL PRICE*
27
0
50
100
150
200
250
6/30/2014 12/31/2014 6/30/2015 12/31/2015 6/30/2016 12/31/2016 6/30/2017
Backlog WTI
9/30/2017
* Relative scale. 30 June 2014 = 100
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BACKLOG ANALYSIS – TE&C BUSINESS UNIT
*Defined as the ratio between Backlog and LTM Revenues
28
Good mix between E, EP, and EPC Excellent cover for future revenues
Book to Bill Ratio* (31/3-30/9/17)
2.1
2.9
2.3
31/3/17 30/6/17 30/9/17
85 97546 467
7,5476,693
30/6/17 30/9/17
E EP EPC
8,178
7,257
Backlog by Type (€m, 30/6-30/9/17)
*Defined as the ratio between Backlog and LTM Revenues
*Defined as the ratio between Backlog and LTM Revenues
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OUTLOOK ON COMMERCIAL ACTIVITY (TE&C)
29
Commercial Pipeline (€bn, Mar ’17-Sep ‘17)
20.023.5 23.9
6.2
7.2 5.8
9.0
6.5 9.5
Mar '17 Jun'17 Sep'17
Prospect, Prequalification & Pre-Tendering Tendering Tendered
35.237.2 39.2
Our Pipeline is the Highest Ever
&
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COMMERCIAL ACTIVITY’S GEOGRAPHICAL BREAKDOWN (TE&C)*
30
North and CentralAmericaPOLYOLEFIN
South AmericaGAS TREATMENT
POLYOLEFIN AfricaFERTILIZER
POLYOLEFIN
GAS TREATMENT
REFINERY
Middle EastFERTILIZER
POLYOLEFIN
GAS TREATMENT
REFINERY
AsiaFERTILIZER
POLYOLEFIN
GAS TREATMENT
C.I.S.FERTILIZER
POLYOLEFIN
GAS TREATMENT
REFINERYEuropePOLYOLEFIN
REFINERY
New Contracts Expected, Driven by Significant Commercial Efforts
*Figures include prospect prequalification and pre-tendering, tendering, and tendered
€2.0bn
€3.0bn
€1.6bn
€10.2bn
€6.6bn
€8.7bn
€7.1bn
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SUMMARY
1. Group Overview
2. Strategy and Competitive
Positioning
3. Operations and
Commercial Activity
4. Financial Data
5. Conclusions
CONSOLIDATED INCOME STATEMENT & BALANCE SHEET
INCOME STATEMENT
BALANCE SHEET
€m 2014 2015 2016 9M 2017
Revenues 1,583.2 1,669.6 2,435.4 2,588.4
EBITDA 126.9 130.8 160.0 143.3
EBITDA % 8.0% 7.8% 6.6% 5.5%
EBIT 103.4 115.4 152.6 136.7
Net Income 50.3(1) 43.8(1) 85.3 98.4
€m as of Dec 14 Dec 15 Dec 16 Sep 17
Net Invested Capital (Asset) (458.7) (251.8) (227.5) (282.2)
Net Cash (365.0) (125.6) (42.8) 16.6
Total Shareholders' Equity 93.7 126.2 184.7 298.8
Group Shareholders' Equity 92.2 124.9 169.6 277.9
(1) Restated Net Income in 2014 and 2015 with average effective tax rate of 37% would be €38.7m and €48.9m respectively
• Revenues’ • Growth in revenues driven
by execution of record-
level backlog
• Steady growth in EBITDA
and Net Income
• EBITDA marginality reflects
changing backlog mix
• Strong growth in
Shareholders’ equity driven
by positive results
• Net cash positive in
September 2017 for the
first time since Q3 2011
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CASH FLOW BRIDGE
33
42.8
16.689.3
15.1
9.8
35.2
Net DebtDec 2016
Operating CashFlows and Forex
Net FinancialIncome
Capex Dividends andTreasury Shares
Net CashSep 2017
Cash Flow Bridge, 2017 (€m)
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SPREAD OF BANK DEBT REFINANCINGS, 2013-2017
540
395
250195
0
100
200
300
400
500
600
May 2013 Apr 2015 Dec 2015 Apr-17
Spread (bps)
We Have Reduced our Bank Debt Spread by over 60% since 2013 34
May 2013
€350
12/2017
Apr 2015
€320
2018-2019
Dec 2015
€350
12/2020
Apr 2017
€350
3/2022
Refinancing Date
Amount (€m)
Final Maturity
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SUMMARY
1. Group Overview
2. Strategy and Competitive
Positioning
3. Operations and
Commercial Activity
4. Financial Data
5. Conclusions
CONCLUSIONS
• Leading worldwide engineering contractor focusing on Oil&Gas,
Petrochemicals and Fertilizers
− Providing Technological Solutions throughout the entire EPC
Value Chain
• Entirely focused on Gas Treatment, Downstream and Onshore
• Flexible business model
• Global approach with focus on specific geographies
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Maire Tecnimont Group’s Headquarters
Via Gaetano De Castillia, 6A
20124 Milan
www.mairetecnimont.com
Investor Relations T +39 02 6313-7823 F +39 02 6313-733702 [email protected]
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