Technip Holds 2011 Investor Day, comments on current order intake momentum
Technip today holds an investor day, including a visit to its Flexible pipe manufacturing plant in Vitória, Brazil. The presentations focused on Technip's core strengths and opportunities for sustainable and profitable growth in Latin America, Brazil and Subsea, including presentations as follows:
- Technip's Onshore/Offshore Opportunities in Latin America, Nello Uccelletti, Senior VP Onshore
- Technip Brazil: Solid Local Foundations for Profitable Growth, Paulo Veronesi, Subsea Commercial Director, Brazil
- Flexibras Vitória Plant, Eduardo Merhi, Head of Flexibras Project Management and Monica Mesquita,
- Brazil QHSE Superintendent
- Technip's Subsea Technology, Alain Marion, Senior VP Assets & Subsea Technology
- Technip's Expansion in Subsea Worldwide, Frédéric Delormel, Executive VP and COO Subsea
Today’s presentations illustrate Technip’s main strengths:
- Portfolio of state-of-the-art assets allowing large spectrum of products and
- Diversified backlog with large and balanced customer base
- High added-value differentiating technologies
- Strong local content
- Solid execution in Subsea and Offshore/Onshore to deliver good financial performance
In his opening address Thierry Pilenko will comment on the sustained momentum Technip has seen in order intake in the third quarter:
- In Subsea, the major award for the Petroleos de Venezuela S.A. (PDVSA) Mariscal Sucre Dragon development and the award of two vessel charters in Brazil, Deep Constructor and Brazilian built Skandi Niterói, add to a continued volume of smaller and medium-sized orders. Tendering activity remains strong in all markets.
- In Onshore/Offshore, progress on the Shell Prelude FLNG project will trigger recognition of substantial order intake on this project, which adds to a continued flow of smaller and medium-sized orders including the Satah field development EPC in the Middle East. Furthermore, the volume of new FEED work illustrates the willingness of clients to move forward with their new developments.
There was no new information on the status of the Global Industries acquisition. Technip confirmed that it will provide a full year 2012 financial outlook when it reports 2011 full year results and will align its segment financial reporting for 2012 and beyond with its new management organization - namely a Subsea and an
Thierry Pilenko said in Vitória, Brazil: “our current order intake momentum reflects what we see in terms of medium-term market trends, and the efforts Technip has made to drive its strategy across all our segments - Onshore, Offshore and Subsea. In Brazil in particular, I see all elements of our strategy in action: deep client
relationships with both national and international oil companies; a true local market presence built on local resources; sustained investment in differentiating assets, technology, infrastructure and most importantly, people; These efforts have built solid local foundations for long-term profitable growth.”
Copies of the presentations and a live-stream audio webcast of the event will be available on the company's website, www.technip.com. Transcripts of the presentations will also be available on the website, roughly 24 hours after the event.
12am - 1pm, CET time
Solid Foundations for Long-term Profitable Growth - Thierry Pilenko, Chairman
1pm - 2pm, CET time
Focus on Onshore/Offshore Opportunities in Latin America - Nello Uccelletti,
Senior VP Onshore
2:30pm - 4:00pm, CET time
Technip Brazil: Solid Local Foundations for Profitable Growth - Paulo
Veronesi, Subsea Commercial Director, Brazil
8:30pm - 9:30pm, CET time
Subsea Technology: Alain Marion, Senior VP Assets & Subsea Technology
9:30pm - 10:30pm, CET time
Expansion in Subsea Worldwide: Frédéric Delormel, Executive VP and COO
Technip will publish its third quarter results on October 27, 2011.
Technip is a world leader in project management, engineering and construction for the energy industry.
From the deepest Subsea oil & gas developments to the largest and most complex Offshore and Onshore infrastructures, our 23,000 people are constantly offering the best solutions and most innovative technologies to meet the world’s energy challenges.
Present in 48 countries, Technip has state-of-the-art industrial assets on all continents and operates a fleet of specialized vessels for pipeline installation and subsea construction.
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Technip shares are listed on the NYSE Euronext Paris exchange and the USA over-the-counter (OTC) market as an American Depositary Receipt (ADR: TKPPY).