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MAIRE TECNIMONT GROUP OVERVIEW Goldman Sachs European Small & - - PowerPoint PPT Presentation

MAIRE TECNIMONT GROUP OVERVIEW Goldman Sachs European Small & Mid Cap Symposium May 2017 DISCLAIMER This document has been prepared by Maire Tecnimont S.p.A. (the Company) solely for use in the presentation of the Maire Tecnimont


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SLIDE 1

MAIRE TECNIMONT GROUP OVERVIEW

May 2017 Goldman Sachs European Small & Mid Cap Symposium

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SLIDE 2

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

  • ccurrence 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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CORPORATE PROFILE | MAY 2016 MAIRE TECNIMONT GROUP OVERVIEW – MAY 2017

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SLIDE 3

SUMMARY

  • 1. Group Overview
  • 2. Strategy and Competitive

Positioning

  • 3. Operations
  • 4. Financial Data
  • 5. Conclusions
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SLIDE 4

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

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Key Indicators Revenues by Business Unit

97% 3%

TE&C Infrastructure

€2.4 bn Revenues (FY 2016) €756.5m Revenues (Q1 2017) 8,100 Employees and E&I professionals 45 Operating companies €5.8bn Backlog (31 March 2017) €1.2 bn Market Cap (May 10, 2017)

MAIRE TECNIMONT GROUP OVERVIEW – MAY 2017

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SLIDE 5

2005 2007 2009 2010 2011 2013 2015

1899 FIAT GROUP 2004

Acquisition of Fiat Engineering (later MAIRE ENGINEERING)

1972

Incorporation of FIAT ENGINEERING

2001

Acquisition of FIAT Avio’s Electric Design & Construction Business

1973

Incorporation of TECNIMONT

1966

Incorporation of MONTEDISON

1884

EDISON Power Supply

1888

MONTECATINI Mines and Chemicals

2005 Maire Group acquires Tecnimont

Listing on the Italian Stock Exchange

1947

Incorporation of STAMICARBON Chemical and Fertilizer licensing

1937

Dutch State Mines – DSM research centre for services work to coal mines

Acquisition of Stamicarbon 100% Acquisition of the Indian subsidiary Tecnimont Pvt. Ltd. (formerly TICB)

1958

Incorporation of ICB Pvt Ltd as consulting firm in the plant sector in Mumbai

1977

Creation of the first JV between ICB and Tecnimont

1990s

Tecnimont acquires 50% of the Indian company renamed as Tecnimont ICB Pvt Ltd (TICB)

1971

Kinetic Technology Int. - KTI More than 40 years of experience in process engineering

1988

Mannesmann acquired KTI

1999

Technip Italy acquired KTI

Acquisition of KT Kinetics Technology (formerly Technip KTI) Reorganization

  • f

Italian HQs

New Milan Offices

Launch of the New Business Strategy

1963

Giulio Natta Nobel Prize for chemistry

Incorporation of MAIRE TECNIMONT

Repositioning completed and Record Backlog

Our Evolution

KEY MILESTONES

5

MAIRE TECNIMONT GROUP OVERVIEW – MAY 2017

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SLIDE 6

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

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Business Unit

MAIRE TECNIMONT GROUP OVERVIEW – MAY 2017

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SLIDE 7

TECHNOLOGY, ENGINEERING & CONSTRUCTION

LIFE-CYCLE SUPPORT

FERTILIZERS OIL & GAS PETROCHEMICALS

LICENSING

EXECUTION- DRIVEN TECHNOLOGY-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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MAIRE TECNIMONT GROUP OVERVIEW – MAY 2017

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SLIDE 8

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 RAILWAYS CURRENTLY 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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MAIRE TECNIMONT GROUP OVERVIEW – MAY 2017

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EXTENSIVE INTERNATIONAL PRESENCE

MILAN ROME BRAUNSCHWEIG MUMBAI SITTARD ITALY 2,246 REST OF EUROPE 286 ASIA 2,499 REST OF THE WORLD 63 Headquarters Main offices and engineering centres Subsidiaries, branches and representative offices

A Real Multicultural and Multinational Group

*Average age: ~41 years

  • Approx. 66% graduates

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TOTAL EMPLOYEES 5,094* E&I division ~3,000

GRAND TOTAL ~ 8,100

Data as of: 31.3.2017

MAIRE TECNIMONT GROUP OVERVIEW – MAY 2017

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SLIDE 10

SUMMARY

  • 1. Group Overview
  • 2. Strategy and

Competitive Positioning

  • 3. Operations
  • 4. Financial Data
  • 5. Conclusions
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MAIRE TECNIMONT’S STRATEGIC PRIORITIES

Strategic Priorities

Enhance and Develop Technology Driven Business Expand Geographic Footprint

1 2 3 4 5

Develop Engineering Services Revenues Strengthen EPC in the Core Business Align Organization and Pursue Group Synergies

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MAIRE TECNIMONT GROUP OVERVIEW – MAY 2017

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SLIDE 12

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- DRIVEN TECHNOLOGY-DRIVEN

ENGINEERING PROCUREMENT CONSTRUCTION PROJECT 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

MAIRE TECNIMONT GROUP OVERVIEW – MAY 2017

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SLIDE 13

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

230

Hydrogen and Sulphur Recovery Unit Projects completed Since 1971

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MAIRE TECNIMONT GROUP OVERVIEW – MAY 2017

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SLIDE 14

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

MAIRE TECNIMONT GROUP OVERVIEW – MAY 2017

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SLIDE 15

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 GROUP OVERVIEW – MAY 2017

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SLIDE 16

MAIRE TECNIMONT HAS BEEN OUTPERFORMING THE SECTOR

Maire Tecnimont’s Relative Performance, 6/20/14 – 5/10/17

Maire Tecnimont BEUOILS Index WTI Future

Correlation Coefficient MT – BEUOILS = — 0.19 MT – WTI Future = — 0.32 BEUOILS – WTI Future= + 0.96

Our Stock is Not Correlated to the Oil Price

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Source: Bloomberg. BEUOILS Index Components: Subsea 7, Saipem, Petrofac, John Wood Group, SBM, Amec FW, TGS MAIRE TECNIMONT GROUP OVERVIEW – MAY 2017

20 40 60 80 100 120 140 160 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17

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SLIDE 17

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

MAIRE TECNIMONT GROUP OVERVIEW – MAY 2017

  • Dedicated revamping

engineering initiatives

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SLIDE 18

SUMMARY

  • 1. Group Overview
  • 2. Strategy and Competitive

Positioning

  • 3. Operations
  • 4. Financial Data
  • 5. Conclusions
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SLIDE 19

COMPLETED PROJECT UNDER REALIZATION PROJECT

PDH PLANT, TOBOLSK (WESTERN SIBERIA) CLIENT: Tobolsk Polymer LLC CONTRACT TYPE: EPC €660m LLDPE-HDPE-PP PLANTS, DAHEJ (GUJARAT, INDIA) CLIENT: OPAL CONTRACT TYPE: EPC US$440m PE/NAO PLANTS, MESAIEED (QATAR) CLIENT: QATAR CHEMICAL COMPANY II CONTRACT TYPE: EPC US$830m POLYOLEFINS COMPLEX, RUWAIS (UAE) BOROUGE 1 - BOROUGE 2 – BOROUGE 3 CLIENT: BOROUGE CONTRACT TYPE: (1) US$ 445m, (2) US$1.8bn, (3) EPC S$1.9bn POLYOLEFINS UNITS (RAPID), PENGERANG (MALAYSIA) CLIENT: PRPC Polymers Sdn Bhd (PETRONAS) CONTRACT TYPE: EPCC €328m LLDPE-HDPE-PP PLANTS, SOHAR (OMAN) CLIENT: ORPIC CONTRACT TYPE: EPC US$895m PDH/POLYPROPYLENE PLANT, AL JUBAIL (SAUDI ARABIA) CLIENT: Al Waha CONTRACT 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 Rabigh CONTRACT TYPE: EPC €1.2bn HDPE PLANT, SUMGAYIT (AZERBAIJAN) CLIENT: SOCAR Polymer CONTRACT TYPE: EPC - PP, HDPE €350m LDPE PLANT, SADARA (SAUDI ARABIA) CLIENT: Sadara Chemical Company CONTRACT TYPE: EPC €280m PP PLANT, SUMGAYIT (AZERBAIJAN) CLIENT: SOCAR Polymer CONTRACT TYPE: EPC - PP, HDPE €180m

MAIN PETROCHEMICAL PROJECTS

MAIRE TECNIMONT GROUP OVERVIEW – MAY 2017

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SLIDE 20

MAIN OIL & GAS PROJECTS

REFINERY OFF GAS(ROG) PROJECT, ANTWERP (BELGIUM) CLIENT: TOTAL Olefins Antwerp CONTRACT TYPE: EPC €193m DELAYED COKER COMPLEX PROJECT AND HYDROWAX VACUUM DISTILLATION, GDANSK (POLAND) CLIENT: LOTOS ASFALT SP. ZO.O CONTRACT TYPE: EPC €304m COMBINED OIL REFINING UNIT (CORU) MOSCOW REFINERY (RUSSIAN FEDERATION) CLIENT: JSC Gazprom Neft Moscow Refinery CONTRACT 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: ADCO CONTRACT 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 TERMINAL CHENTOUJIA, GUANGDONG (CHINA) CLIENT: GUANGDONG LNG JEO CONTRACT TYPE: EPC €280m CLEAN FUEL PROJECT RABIGH, (SAUDI ARABIA) CLIENT: Petro Rabigh CONTRACT TYPE: EPC €148m

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COMPLETED PROJECT UNDER REALIZATION PROJECT

MAIRE TECNIMONT GROUP OVERVIEW – MAY 2017

OIL & GAS TREATMENT PLANT, LUBIATOW (POLAND) CLIENT: Polish Oil & Gas Company CONTRACT TYPE: EP €91m SULPHUR RECOVERY UNITS, MOSTOROD (EGYPT) CLIENT: Egyptian Refinery Company CONTRACT TYPE: EP €97m SULPHUR COMPLEX GDANSK (POLAND) CLIENT: Grupa Lotos SA CONTRACT TYPE: EPC €111m

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SLIDE 21

YARA, SLUISKIL (THE NETHERLANDS) Client: YARA International ASA Contract type: EPC €125m AMMONIA PLANT, KINGISEPP (RUSSIAN FEDERATION) Client: EuroChem Mineral and Chemical Company Contract type: EPC €660m AMMONIA/UREA PLANT NEVINNOMYSSK (RUSSIAN FEDERATION) Client: EuroChem Mineral and Chemical Company Contract 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: SAFCO Contract type: EPC US$350m FERTILIZERS COMPLEX , ASWAN (EGYPT) Client: KIMA Contract type: EPC US$540m IOWA FERTILIZER COMPANY, WEVER, IOWA (USA) Client: Orascom Construction Industries Contract type: EP €250m

COMPLETED PROJECT UNDER REALIZATION PROJECT

MAIN FERTILIZERS PROJECTS

MAIRE TECNIMONT GROUP OVERVIEW – MAY 2017

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STAMICARBON LICENSES: OVER 240 WORLDWIDE

AMMONIA DEBOTTLENECKING, Annaba, Arzew (ALGERIA) Client: Fertial Contract type: E UREA DEBOTTLENECKING & GRANULATION PLANT SHUAIBA (KUWAIT) Client: P.I.C. Contract type: EPC US$100m

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SLIDE 22

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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MAIRE TECNIMONT GROUP OVERVIEW – MAY 2017

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SLIDE 23

BACKLOG

6,065 5,393 451 434

31/12/16 31/3/17

TE&C Infrastructure 6,516 5,827 29% 38% 16% 14% 3% Europe Middle East Others Asia Africa Backlog by Geography

Geographical Diversification: Successful Entry in South-East Asia

Backlog by Business Unit (€m, 31/12/16-31/3/17)

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22% 48% 3% 17% 10% Europe Middle East Others Asia Africa March 2015 March 2017 &

MAIRE TECNIMONT GROUP OVERVIEW – MAY 2017

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SLIDE 24

BACKLOG ANALYSIS – TE&C BUSINESS UNIT

Good mix between E, EP, and EPC Excellent cover for future revenues

Book to Bill Ratio* (31/12/16-31/3/17) 2.7 2.1 31/12/16 31/3/17 80 73 681 637 5,304 4,683 31/12/16 31/3/17 E EP EPC 6,065 761 5,393 710 Backlog by Type (€m, 31/12/16-31/3/17)

*Defined as the ratio between Backlog and LTM Revenues *Defined as the ratio between Backlog and LTM Revenues 24

MAIRE TECNIMONT GROUP OVERVIEW – MAY 2017

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SLIDE 25

OUTLOOK ON COMMERCIAL ACTIVITY (TE&C)

Commercial Activity (€bn, Sep ’16-Mar ‘17) 19.4 19.0 20.0 5.4 5.5 6.2 5.5 7.0 9.0 Sep '16 Dec '16 Mar '17 Prospect, Prequalification & Pre-Tendering Tendering Tendered 30.3 31.5 35.2

Our Pipeline is the Highest Ever

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&

MAIRE TECNIMONT GROUP OVERVIEW – MAY 2017

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SLIDE 26

COMMERCIAL ACTIVITY’S GEOGRAPHICAL BREAKDOWN (TE&C)*

North and Central America POLYOLEFIN South America GAS TREATMENT POLYOLEFIN Africa FERTILIZER POLYOLEFIN GAS TREATMENT REFINERY Middle East FERTILIZER POLYOLEFIN GAS TREATMENT REFINERY Asia FERTILIZER POLYOLEFIN GAS TREATMENT C.I.S. FERTILIZER POLYOLEFIN GAS TREATMENT REFINERY Europe POLYOLEFIN REFINERY

New Contracts Expected in the Short Term Driven by Significant Commercial Efforts

*Figures include prospect prequalification and pre-tendering, tendering, and tendered 26 €1.5bn €2.0bn €0.7bn €10.1bn €8.8bn €8.5bn €3.6bn

MAIRE TECNIMONT GROUP OVERVIEW – MAY 2017

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SLIDE 27

SUMMARY

  • 1. Group Overview
  • 2. Strategy and Competitive

Positioning

  • 3. Operations
  • 4. Financial Data
  • 5. Conclusions
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SLIDE 28

CONSOLIDATED INCOME STATEMENT & BALANCE SHEET

INCOME STATEMENT BALANCE SHEET

€m 2014 2015 2016 Q1 2017 Revenues 1,583.2 1,669.6 2,435.4 756.5 EBITDA 126.9 130.8 160.0 45.5 EBITDA % 8.0% 7.8% 6.6% 6.0% EBIT 103.4 115.4 152.6 44.0 Net Income 50.3(1) 43.8(1) 85.3 31.8 €m as of Dec 14 Dec 15 Dec 16 Mar 17 Net Invested Capital (Asset) (458.7) (251.8) (227.5) (272.4) Net Debt 365.0 125.6 42.8 31.3 Total Shareholders' Equity 93.7 126.2 184.7 241.1 Group Shareholders' Equity 92.2 124.9 169.6 224.9

(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

  • Strong growth in

Shareholders’ equity driven by positive results

  • Net debt reduction due to

disposals and cashflow generation

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MAIRE TECNIMONT GROUP OVERVIEW – MAY 2017

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SLIDE 29

NET FINANCIAL POSITION AND CASH FLOW BRIDGE

Cash Flow Bridge (€m)

28.2

  • 15.5

75.1 75.6

  • 60.5
  • 28.8

Net Cash

  • Conv. Bond

Derivatives Dec 2016 Mar 2017

  • 11.5

Net Financial Position (€m)

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31.3 42.8

42.8 10.9 4.6 5.2 31.3 Net Debt Dec 2016 Operating Cash Flows and Forex Capex Net Financial Income Net Debt Mar 2017

MAIRE TECNIMONT GROUP OVERVIEW – MAY 2017

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SLIDE 30

SPREAD OF BANK DEBT REFINANCINGS, 2013-2017

540 395 250 195

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

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€350 12/2017 €320 2018-2019 €350 12/2020 €350 3/2022 Amount (€m) Final Maturity

MAIRE TECNIMONT GROUP OVERVIEW – MAY 2017

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SLIDE 31

SUMMARY

  • 1. Group Overview
  • 2. Strategy and Competitive

Positioning

  • 3. Operations
  • 4. Financial Data
  • 5. Conclusions
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SLIDE 32

CONCLUSIONS

  • Leading worldwide engineering contractor focusing on Oil&Gas,

Petrochemicals and Fertilizers − Providing Technological Solutions throughout the EPC Value Chain

  • Entirely focused on Downstream and Onshore
  • Flexible business model
  • Global approach with focus on specific geographies

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MAIRE TECNIMONT GROUP OVERVIEW – MAY 2017

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SLIDE 33

Maire Tecnimont Group’s Headquarters

Via Gaetano De Castillia, 6A 20124 Milan info@mairetecnimont.it www.mairetecnimont.com

Investor Relations T +39 02 6313-7823 F +39 02 6313-733702 6313-7823 Investor-relations@mairetecnimont.It

MAIRE TECNIMONT GROUP OVERVIEW – APRIL 2017