Fourth Quarter and Full Year 2011 Results Paris, February 16, 2012 - - PowerPoint PPT Presentation

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Fourth Quarter and Full Year 2011 Results Paris, February 16, 2012 - - PowerPoint PPT Presentation

Fourth Quarter and Full Year 2011 Results Paris, February 16, 2012 Safe Harbor T his presentation contains both historical and forward-looking statements. These forward-looking statements are not based on historical facts, but rather reflect


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Fourth Quarter and Full Year 2011 Results

Paris, February 16, 2012

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Safe Harbor

his presentation contains both historical and forward-looking statements. These forward-looking statements are not based on historical facts, but rather reflect our current expectations concerning future results and events and generally may be identified by the use of forward-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-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by these forward-looking statements. Risks that could cause actual results to differ materially from the results anticipated in the forward-looking statements include, among other things: our ability to successfully continue to originate and execute large services contracts, and construction and project risks generally; the level of production-related capital expenditure in the oil and gas industry as well as other industries; currency fluctuations; interest rate fluctuations; raw material (especially steel) as well as maritime freight price fluctuations; the timing of development of energy resources; armed conflict or political instability in the Arabian-Persian Gulf, Africa or other regions; the strength of competition; control of costs and expenses; the reduced availability of government-sponsored export financing; losses in one or more of our large contracts; U.S. legislation relating to investments in Iran or elsewhere where we seek to do business; changes in tax legislation, rules, regulation or enforcement; intensified price pressure by our competitors; severe weather conditions; our ability to successfully keep pace with technology changes; our ability to attract and retain qualified personnel; the evolution, interpretation and uniform application and enforcement of International Financial Reporting Standards (IFRS), according to which we prepare our financial statements as of January 1, 2005; political and social stability in developing countries; competition; supply chain bottlenecks; the ability of our subcontractors to attract skilled labor; the fact that our operations may cause the discharge of hazardous substances, leading to significant environmental remediation costs;

  • ur ability to manage and mitigate logistical challenges due 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 risks materialize,

  • r should our underlying assumptions prove incorrect, our future results could be adversely affected, causing these results to differ materially from

those expressed in our forward-looking statements. These factors are not necessarily all of the important factors that could cause our actual results to differ materially from those expressed in any of our forward-looking statements. Other unknown or unpredictable factors also could have material adverse effects on our future results. The forward-looking statements included in this release are made only as of the date of this release. We cannot assure you that projected results or events will be achieved. We do not intend, and do not assume any obligation to update any industry information

  • r forward looking information set forth in this release to reflect subsequent events or circumstances.

**** This presentation does not constitute an offer or invitation to purchase any securities of Technip in the United States or any other jurisdiction. Securities may not be offered or sold in the United States absent registration or an exemption from registration. The information 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 or indirectly, in whole or in part, to any other person. Non-compliance with these restrictions may result in the violation of legal restrictions of the United States or of

  • ther jurisdictions.

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Fourth Quarter and Full Year 2011 Results

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Contents

1. 2011: Year of Profitable & Sustainable Growth 2. Fourth Quarter Operations & 2011 Financial Highlights 3. 2012 Outlook & Priorities

Fourth Quarter and Full Year 2011 Results

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  • 1. 2011: Year of Profitable &

Sustainable Growth

4 Fourth Quarter and Full Year 2011 Results

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2011 Key Achievements

Record net income of €507 million Operating margin above 10% for the 3rd year €8 billion of diversified new orders €10.4 billion backlog, up by more than €1.1 billion year on year Step change in our portfolio of products and services

Dividend increase by 9% to €1.58 per share

(1) from recurring activities

Fourth Quarter and Full Year 2011 Results

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Neste Oil biodiesel plant Wheatstone platform FEED Upper Zakum 750+ FEED Pazflor Block 31 West Delta Deep Marine Phase 7 & 8A Galapagos Phase 1 CWLH1 P-56 semi-submersible Kitan

6

2011 Major Projects Delivered to Clients

Onshore/Offshore Subsea

(1) Cossack Wanaea Lambert Hermes

Jubilee Skarv Marulk

Fourth Quarter and Full Year 2011 Results

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A Growing, Profitable Backlog

Backlog and Operating Margin1

(1) from recurring activities

€ million (audited)

Operating margin (%) Subsea backlog 8.8% 10.5% 10.2% 10.4%

2008 2009 2010 2011

2008 2009 2010 2011 7,208 8,018 9,228 10,416

Onshore/Offshore backlog

Fourth Quarter and Full Year 2011 Results

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20% 36% 15% 22% 5%

2%

8

Well Diversified Backlog

Europe / Russia Central Asia Africa Asia Pacific Americas Middle East €10,416 million

Backlog by geography Backlog by market split

Deepwater >1,000 meters Petrochems Other Gas / LNG / FLNG Refining / Heavy Oil Shallow Water €10,416 million

As of December 31, 2011

Fourth Quarter and Full Year 2011 Results

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Investment in Key Differentiating Assets and Technologies

Vessels People Plants

Fourth Quarter and Full Year 2011 Results

2007 2007 2007 18 5 23,000 34 28,000 +4

Under construction

7 +1

Under construction

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Rigid Reel-Lay Rigid J-Lay Rigid S-Lay

Technip Customer Support from Concept to Execution in Offshore & Subsea

Concept Project Engineering & Procurement Upstream Engineering

Pre-FEED* and FEED Offshore field development studies Innovative technology solutions for platform and subsea challenges R&D, Proprietary Software & Hardware

Execution Manufacturing

Rigid S-Lay P R O J E C T M A N A G E M E N T Flexible risers and flowlines Rigid Pipeline Welding/Spooling Umbilicals

Installation

Flexible-Lay Umbilical-Lay Associated construction Heavy Lift for Subsea infrastructure Offshore topside installation Support, Diving & Logistics

*FEED: Front End Engineering Design 10 Fourth Quarter and Full Year 2011 Results

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FLNG Offshore Wind Petrochemicals / Fertilizers Deep-to-Shore

Addressing Expanding Markets

Fourth Quarter and Full Year 2011 Results

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  • 2. Fourth Quarter Operations &

2011 Financial Highlights

12 12 Fourth Quarter and Full Year 2011 Results

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Fourth Quarter & FY 2011 Financial Highlights

(1) calculated as operating income from recurring activities before depreciation and amortization (2) from recurring activities

€ million (audited)

4Q 11

Δ 4Q 10

FY 2011

Δ FY 2010

Revenue 2,014.3

14.0%

6,813.0

12.0%

EBITDA1 274.0

31.9%

883.5

13.7%

EBITDA Margin 13.6%

185bp

13.0%

19bp

Operating Income2 208.2

26.3%

709.5

14.4%

Operating Margin2 10.3%

100bp

10.4%

21bp

Non-Current Operating Result (11.0)

37.5%

(15.7)

2.8x

Financial Result 11.0

110.0x

17.4

nm

Income before Tax 208.2

32.6%

711.2

19.6%

Effective Tax Rate 29.5%

18bp

29.3%

(83bp)

Net Income 149.5

33.2%

507.3

21.5%

Dividend per Share 1.58

9.0%

Fourth Quarter and Full Year 2011 Results

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Fourth Quarter Order Intake & Backlog

Subsea order intake

Charter for two 550 ton flexible pipeline installation vessels, Petrobras, Brazil Golden Eagle Development, Nexen, UK Vilje South & Visund North, Statoil, Norway Coga, Total, Congo & Gabon

Onshore/Offshore order intake

Lucius Spar1, Anadarko, Gulf of Mexico Prelude FLNG2, Shell, Australia Wheatstone, DSME3, Australia GTL FEED, JV4, Uzbekistan Order intake Backlog Order intake Backlog

(1) Full contribution

€ million (not audited)

(2) 3rd contribution (3) Daewoo Shipbuilding & Marine Engineering Co., Ltd. (4) JV between Uzbekneftegaz, Sasol and Petronas

698 1,127 1,216 4Q 10 3Q 11 4Q 11 6,117 6,053 6,036 4Q10 3Q 11 4Q 11 3,111 4,065 4,380 4Q 10 3Q 11 4Q 11 1,774 1,225 1,023 4Q 10 3Q 11 4Q 11

Fourth Quarter and Full Year 2011 Results

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Fourth Quarter Subsea Highlights

(1) from recurring activities

Africa

Pazflor & Block 31, Angola West Delta Deep Marine Phase 8A, Egypt

Asia Pacific

Berantai, Malaysia Kitan, Timor Sea

North Sea & Canada

Gjøa and Oselvar, Norway Hibernia, Canada

Americas

Capixaba export pipeline, Brazil Galapagos, Gulf of Mexico

Vessel utilization rate: 85% Global Industries integration into regional

  • rganization progressed well

Subsea

Revenue Operating Income1

714 964 4Q 10 4Q 11 116 158 4Q 10 4Q 11 16.2% 16.4% 4Q 10 4Q 11 € million (audited)

Fourth Quarter and Full Year 2011 Results

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Fourth Quarter Onshore/Offshore Highlights

Onshore/Offshore

Revenue Operating Income1

(1) from recurring activities

Middle East

Jubail refinery, Saudi Arabia Asab 3, UAE PMP, Qatar

Asia Pacific

Prelude FLNG, Australia Petronas FLNG FEED, Malaysia Wheatstone platform, Australia

Latin America

Cubatão refinery, Brazil P-58 & P-62 FPSOs, Brazil FEEDs for Ethylene XXI, Mexico & Cuba refinery

Elsewhere

Lucius Spar, Gulf of Mexico Ikra, Russia

1,053 1,050 4Q 10 4Q 11 62 68 4Q 10 4Q 11 5.9% 6.5% 4Q 10 4Q 11 € million (audited)

Fourth Quarter and Full Year 2011 Results

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Cash Flow

€ million (audited)

1OCEANE: €498m, 0.25% coupon rate, 35% conversion premium

3 months Net Cash as of September 30, 2011 1,313.0 Cash Generated from / (Used in) Operations 228.2 Change in Working Capital Requirements 32.8 Capex (138.8) Net Cash Impact of Global Industries’ Acquisition (821.8) Share Divestments / Acquisitions, Dividend Payment and Other 107.4 Net Cash as of December 31, 2011 720.8

Fourth Quarter and Full Year 2011 Results

Acquisition of Global Industries financed by

~60% from convertible bond1 ~40% from cash & short-term debt

Global convertible bond refinanced with cash in January 2012

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Balance Sheet

€ million (audited)

€632m related to Global Industries ~€421m OCEANE ~€232m Global Industries’ debt Includes OCEANE & Global Industries acquisition

  • Dec. 31,

2010

  • Dec. 31,

2011 Fixed Assets 4,146.0 5,317.2 Construction Contracts – Amounts in Assets 378.6 588.0 Other Assets 2,591.7 2,718.1 Cash & Cash Equivalents 3,105.7 2,808.7 Total Assets 10,222.0 11,432.0 Shareholders’ Equity 3,202.1 3,673.3 Construction Contracts – Amounts in Liabilities 694.9 644.5 Financial Debt 1,773.4 2,087.9 Other Liabilities 4,551.6 5,026.3 Total Shareholders’ Equity & Liabilities 10,222.0 11,432.0

Fourth Quarter and Full Year 2011 Results

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Financial Impact of Global Industries Acquisition

2011

Backlog integrated in 2011 year end: €132 million No P&L impact except transaction costs €889 million of non-current assets, including goodwill and €232 million of current assets

2012

Revenues over €300 million Operating loss1 of around €30 million - €40 million Depreciation & amortization around €35 million Capex around €30 million

(1) from recurring activities

Fourth Quarter and Full Year 2011 Results

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Backlog Visibility

1 (1) Backlog estimated scheduling as of December 31, 2011

€ million (not audited)

Subsea Offshore Onshore Group

2012 2,575.1 1,392.0 2,123.6 6,090.7 2013 1,067.6 862.9 1,182.8 3,113.3 2014+ 737.5 279.5 195.1 1,212.1 Total 4,380.2 2,534.4 3,501.5 10,416.1

20 Fourth Quarter and Full Year 2011 Results

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  • 3. 2012 Priorities & Outlook

21 Fourth Quarter and Full Year 2011 Results

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Business Environment

Continued tendering across the Gulf of Guinea New gas discoveries driving

  • pportunities in Mediterranean &

Eastern Africa First pre-salt discovery in Angola Political uncertainty in North Africa Strong momentum in gas-related mega projects Investments in refining, petrochemicals and fertilizer across countries Promising market for flexible pipe & umbilical solutions First major pre-salt tenders High level of tendering for projects, assets and flexible pipe Conventional works very active Continuous focus on logistics & local content Expanding onshore/offshore

  • pportunities with various clients

Brazil Africa

Drilling permits increase in 2012 driving several offshore development in US waters Increasing activities offshore Mexico

Gulf of Mexico

Canadian oil sands American shale gas drives downstream activities

North America

Positive trend continues in mature fields Offshore platform opportunities

North Sea

Increasing focus on renewable energies Some opportunities in CIS across segments

Europe

Strong focus on offshore brownfield development Sustained downstream activity

Middle East Asia Pacific

Downstream prospects across the continent Several potential offshore development

Latin America

Fourth Quarter and Full Year 2011 Results

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Combining Teams and Assets

Increasing our addressable market

Tackling S-lay, heavy lift and large integrated projects worldwide Leveraging Global’s client relationship, notably in Mexico

Deploying Global fleet

Integrated management center inaugurated in December 2011 Re-allocating vessels to capture new markets

Enhancing Global’s execution capabilities with Technip’s project management expertise Implementing cost synergies

Offices combined in Rio, Abu Dhabi, Houston, Mumbai, ongoing Technip’s supply chain management principles expanded to Global

Fourth Quarter and Full Year 2011 Results

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Winning Projects Worldwide

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Jubilee Phase 1A, Ghana

Rigid & flexible EPIC in 1,300m water depth Enabler: combination of Technip & Global assets on a single project

KGOC Export Pipeline, Middle East

Onshore and subsea 12’’ pipeline 1st Subsea contact for Technip in the region Enabler: combination of Technip Onshore Segment & Global S-Lay asset

Comanche G1200 Deep Pioneer

Recurring activities, US & Mexico

Light reel-lay IRM1, diving support & surveys

Pioneer Chickasaw

Woodside GWF, Australia

16’’ pipeline installation Enabler: G1200/01 effective asset

1 Inspection, Repair & Maintenance

G1201 Fourth Quarter and Full Year 2011 Results

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World leading companies are choosing Technip

Shell: FLNG 15-year frame agreement BP: Spar 10-year frame agreement BASF: Petrochemicals Statoil Brazil: Offshore platforms Haldor Topsoe: Fertilizers APCI: Hydrogen …

Strong involvement at FEED stage

Long Term Client Partnerships

Fourth Quarter and Full Year 2011 Results

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Commercial Success Continues in 2012

Supply of around 1,400 kilometers of flexible pipes Up to $2.1 billion revenue Over 150 types and diameters of risers, flowlines and associated equipment and accessories Manufactured in Vitoria & future Açu plant, Brazil €600 million EPC award in January 2012 New-built refinery in Bulgaria Strong involvement at early stage of the project: FEED performed by Technip in 2009

Capture growth in Subsea: Petrobras frame agreement Growing Onshore through early stage involvement: Burgas refinery

26 Fourth Quarter and Full Year 2011 Results

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2012 Full Year Outlook

1

Group revenue between €7.65 and €8.00 billion Subsea revenue between €3.35 and €3.50 billion, with operating margin2 around 15%, both including Global Industries Onshore/Offshore revenue between €4.3 and €4.5 billion, with

  • perating margin2 between 6% and 7%

(1) at current exchange rates (2) from recurring activities

Fourth Quarter and Full Year 2011 Results

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Technip

ISIN: FR0000131708

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

OTC ADR ISIN: US8785462099

ADR: TKPPK

Fourth Quarter and Full Year 2011 Results

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Bloomberg ticker: TKPPY CUSIP: 878546209 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: adr@db.com ADR website: www.adr.db.com Depositary bank’s local custodian: Deutsche Bank Amsterdam Technip has a sponsored Level 1 ADR

Fourth Quarter and Full Year 2011 Results

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  • 4. Annex

Fourth Quarter and Full Year 2011 Results

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Technip Today

Fourth Quarter and Full Year 2011 Results

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A World Leader Bringing Innovative Solutions to the Oil & Gas Industry…

Onshore/Offshore

Proven track record with customers & business partners Engineering & construction Project execution expertise Knowhow High added-value process skills Proprietary platform design Own technologies combined to close relationship with licensors Low capital intensity Worldwide leadership Unique vertical integration Design & Project Management Manufacturing & Spooling Installation R&D First class assets and technologies Manufacturing plants High performing vessels Advanced rigid & flexible pipes

Subsea

Fourth Quarter and Full Year 2011 Results

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Onshore and Offshore 4Q 2011 Figures

Onshore Offshore

(3)% +167% +365bp (35)bp € million (audited)

Revenue Operating Income1 Operating Income1 Revenue

(1) from recurring activities

+0.5% (5)% 804.2 808.0 4Q 10 4Q 11 56.6 54.0 4Q 10 4Q 11 7.0% 6.7% 4Q 10 4Q 11 5.2 13.9 4Q 10 4Q 11 2.1% 5.7% 4Q 10 4Q 11 249.0 242.2 4Q 10 4Q 11

Fourth Quarter and Full Year 2011 Results

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Two Complementary Business Models Driving Financial Structure and Performance

(1) from recurring activities

Negative working capital

Subsea Onshore/Offshore

Operating Income1 Operating Margin1

Capital intensive: fleet and manufacturing units Vertical integration from engineering to manufacturing & construction Negative capital employed: low fixed assets High degree of outsourcing & sub- contracting

Operating Income1 Operating Margin1 457 498

FY 10 FY 11

16.7% 16.8%

FY 10 FY 11

207 274

FY 10 FY 11

6.2% 7.1%

FY 10 FY 11 € million (audited)

Fourth Quarter and Full Year 2011 Results

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National Oil Companies International Oil Companies

Large Diversified & Balanced Customer Base

Fourth Quarter and Full Year 2011 Results

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Technip Worldwide Presence

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Aberdeen Paris

  • St. John’s

Luanda Rio de Janeiro Houston Mumbai Kuala Lumpur Perth Lagos Vitória Los Angeles Caracas Dande Lobito Port Harcourt Barcelona Lyon Rome Athens The Hague Düsseldorf

  • St. Petersburg

Evanton London Newcastle Abu Dhabi Doha Chennai Bangkok Jakarta Balikpapan Shanghai Pori Le Trait Bogota New Delhi Regional Headquarters / Operating centers Spoolbases Manufacturing plants (flexible pipelines) Manufacturing plants (umbilicals) Construction yard Tanjung Langsat Calgary Monterrey Oslo Orkanger Stavanger Logistic bases Angra Porto Cairo Baghdad Al Khobar Warsaw Macaé Accra Mobile Ciudad del Carmen Carlyss Batam Singapore Dubaï Mexico City

Gulf of Mexico

Brazil North Sea Canada Middle East West Africa Asia Pacific

Fourth Quarter and Full Year 2011 Results

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High Performing Fleet

34 Vessels of Which 4 Under Construction

Diving & multi support vessels Flexible-Lay & Construction Rigid S-Lay and Heavy Lift

Deep Blue Apache II Skandi Niteroi G1200 G1201 Hercules Comanche Deep Pioneer Deep Orient* Skandi Achiever Skandi Arctic Global Orion Iroquois Olympic Challenger Normand Progress Skandi Vitoria Deep Energy*

Rigid Reel-Lay & J-Lay

9 units 5 units 4 units 16 units

Sunrise 2000 Pioneer

* Vessels under construction

2 x 550t PLSV* Chickasaw Deep Constructor Fourth Quarter and Full Year 2011 Results

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Unique Position in Onshore Downstream

Fertilizer LNG Petrochemical & Ethylene Refining

Built the first ever LNG plant 45 years ago in Algeria Involved in 30% of world LNG production capacity Involved in 30 grassroot refineries EPC Proprietary technologies and knowhow

Phu My Fertilizer Complex, Vietnam

Unique position in the industry as “one-stop-shop” Proprietary phosphoric acid technology

Yansab largest ethylene cracking furnaces in the world, Saudi Arabia

28% market share in ethylene since 2000 Over 150 petrochemical units successfully realized

Liquefaction plant and terminal, Yemen Grupa Lotos Refinery, Poland

Fourth Quarter and Full Year 2011 Results

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Expertise in Full Range of Offshore Facilities

FPSO Floating LNG

Akpo: world largest ever FPSO P-58 & P-62: 1st Brazilian flagged Shell Prelude: 1st FLNG under construction in the world FEED for Petrobras & Petronas

Spar Fixed platform

14 Spars delivered Hull fabrication in Pori, Finland Delivered multitude types of platform: conventional jacket, GBS*, self-installing platforms, TPG 500, …

Fourth Quarter and Full Year 2011 Results

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Brazil: Unmatched 35 years of Local Presence

Flexible pipe & umbilical manufacturing plant Logistics base R&D test center

Vitória

Marine assets support base

Macae

7 flexible pipelay vessels including two 550t pipelay under construction Fleet of ROVs

Marine Assets

Engineering and Project Management E, P, C, Commissioning and Installation services Corporate services

Rio de Janeiro

Logistic base

Port of Angra

High-end flexible pipe plant Under construction

Porto do Açu

~3,300 employees

Fourth Quarter and Full Year 2011 Results

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Technip’s operating centers Flexible & umbilical manufacturing plant MHB’s yard Logistic base

Asia Pacific: Unique Assets for High Potential Market

Perth Bangkok Shanghai Singapore Jakarta Balikpapan

Kuala Lumpur Deep Orient*

Tanjung Langsat

1st and only Asian flexible/umbilical manufacturing plant Offshore logistic bases Dedicated local installation capacity

Asiaflex

~4,400 people Founded in 1982 Growing local content in Indonesia, China & Thailand

Technip in Asia Pacific

Major fabrication yard in South East Asia Centrally located Strong platform fabrication track record Support from MISC / PETRONAS Collaboration agreement to provide EPCI capability and technology to PETRONAS

Investment in MHB

* Vessels under construction Batam

Fourth Quarter and Full Year 2011 Results

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Aberdeen

  • St. John’s

Evanton London Newcastle Pori Oslo Orkanger Stavanger Haugesund

North Sea Canada: Leading Technologies for Harsh Environment

Regional Headquarters /

Operating centers Spoolbases Thermoplastic & steel tube umbilical plant Construction yard

Subsea/Onshore/Offshore Pre-FEED, FEED and detailed design Umbilical manufacture and installation Subsea pipelay and construction Inspection, Repair and Maintenance (IRM) Offshore wind Spar

Expertise ~3,700 employees People Vessels Pipelay Diving Support

Wellservicer Skandi Arctic Apache II Orelia Alliance

Electrically Trace Heated Pipe-in-Pipe (ETH-PIP): Islay Pipe-in-Pipe (PIP): East Rochelle Smoothbore: Gjøa Steel Tube Umbilical: Hibernia South

Technology

Fourth Quarter and Full Year 2011 Results

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Ethylene Increased Performances Spar Corrosive Fluids Ultra Deepwater

Developing Proprietary Technologies

Unrivalled high technological assets Numerous proprietary technologies and partnerships with licensors

Production

solutions for harsh environments

Anti H2S Flexible Pipe Carbon Fibre Armoured Flexible PIpe Reeled Mechanically Lined Rigid Pipe

Improved

strength/weight ratio and resistance to corrosive fluids

Material cost

  • ptimization, water

depth extension for sour service pipes, mitigation against well souring

Cost effectiveness

relative to metalurgically bonded or solid CRA alternatives

Ethylene

Cracking furnaces increased performances

Subsea Onshore/Offshore

Truss Spar Swirl Flow Tubes

Fourth Quarter and Full Year 2011 Results

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Risers Export lines

(1) Integrated Production Bundle

Flexible riser & jumper Rigid riser/flowline/export IPB flexible pipe Flexible flowline IPB(1)

Infield flowlines Jumpers

Field Development Solutions in Brazil

Fourth Quarter and Full Year 2011 Results

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Reeled Heated Pipe-in-Pipe

Flow assurance: heated pipe-in-pipe Fibre optic temperature monitoring Fast installation: reeled pipe-in-pipe Built-in directly onshore, at our spoolbases Higher insulation efficiency: lower power requirements 6km tie-back in 122 meters of water Major challenge: hydrates formation EPCI project, valued in excess of £60 million

(1) ETH: Electrical Trace Heating

Technip’s ETH1 technology Islay Project, UK North Sea

Fourth Quarter and Full Year 2011 Results

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Riser system Buoyancy can Top side jumpers Very deep water umbilical (3,000m) Very deep water jumpers (3,000m)

World Class Engineering & Technology to Develop Marine Well Containment System

Fast track project

  • Strong requirements

Very deep water (10,000 feet, 3,000 meters) High pressure (10,000 psi, 690 bar) Holding capacity (100,000 barrels per day)

Fourth Quarter and Full Year 2011 Results

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FLNG

1, an Innovative Solution for our Customers

47

  • Shell FLNG
  • 15 year master agreement
  • LNG capacity: 3.6 mtpa
  • Prelude FLNG in Australia under

construction 488 x 74 meters 600,000 ton displacement with tanks full

  • Petrobras FLNG
  • LNG capacity: 2.7 mtpa
  • Pre-salt basin, Brazil
  • FEED performed by Technip
  • Petronas FLNG
  • Initial LNG capacity: 1.0 mtpa
  • Offshore Malaysia
  • FEED performed by Technip
  • Floating LNG moving from concept to reality
  • Industry experience in large FPSO’s
  • Open sea transfer of LNG made possible
  • Processing challenges on moving platforms solved
  • Industrial momentum with many FLNG projects at FEED stage and Prelude Final

Investment Decision

(1) Floating Liquefied Natural Gas

Fourth Quarter and Full Year 2011 Results

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Shareholding Structure, November 2011

48

Listed on NYSE Euronext Paris

North America 29.4% Treasury Shares 2.1% Employees 2.0% Rest of World 17.6% French Institutional Investors 19.5% Individual shareholders 6.6% Others 4.5% UK & Ireland 10.3%

Institutional Investors 82.2%

FSI 5.4% IFP Energies Nouvelles 2.6%

Source: Thomson Reuters, Shareholder Analysis, Nov. 2011

Fourth Quarter and Full Year 2011 Results