MAIRE TECNIMONT GROUP OVERVIEW November 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 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 MAIRE TECNIMONT GROUP OVERVIEW – NOVEMBER 2017 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. 2
SUMMARY 1. Group Overview 2. Strategy and Competitive Positioning 3. Operations and Commercial Activity 4. Financial Data 5. Conclusions
MAIRE TECNIMONT GROUP Key Indicators Leading worldwide engineering contractor • focusing on: €2.6 bn Revenues (9M 2017) – Oil & Gas 8,400 Employees and E & I professionals – Petrochemicals 50 Operating companies – Fertilizers €7.6 bn Backlog (September 30, 2017) €1.3 bn Market Cap (Nov. 20, 2017) Flexible Business Model spanning the entire • value chain: Revenues by Business Unit – Project Development – Licensing and Engineering Services (E) MAIRE TECNIMONT GROUP OVERVIEW – NOVEMBER 2017 4% – Engineering & Procurement (EP) – Engineering, Procurement & Construction (EPC) – Life Cycle Support Two main Business Units: • – Technology, Engineering & Construction 96% – Infrastructure & Civil Engineering TE&C Infrastructure 4
KEY MILESTONES Our Evolution 1899 FIAT GROUP 1971 1937 Listing on the 1972 Kinetic Technology Int. - KTI Dutch State Mines – DSM Incorporation of Italian Stock More than 40 years of research centre for services FIAT ENGINEERING Exchange experience in process engineering work to coal mines 2001 1988 1947 Acquisition of FIAT Avio’s Electric Mannesmann acquired KTI Incorporation of Design & Construction Business 1999 STAMICARBON Chemical and Fertilizer Technip Italy acquired KTI 2004 licensing Repositioning Acquisition of Acquisition of KT Kinetics Completed Acquisition of Fiat Engineering Technology (formerly Stamicarbon (later MAIRE ENGINEERING) Technip KTI) 2005 2007 2009 2010 2011 2015 2017 2013 MAIRE TECNIMONT GROUP OVERVIEW – NOVEMBER 2017 100% Acquisition of the Indian Incorporation of Reorganization Record Launch of the subsidiary Tecnimont Pvt. Ltd. MAIRE TECNIMONT of New Business Backlog and (formerly TICB) Italian HQs Strategy Sales 1990s Tecnimont acquires 50% of the Indian company renamed as Tecnimont ICB Pvt Ltd (TICB) 2005 1977 Maire Group acquires Creation of the first JV Tecnimont between ICB and Tecnimont 1973 1958 Incorporation of New Milan Offices Incorporation of ICB Pvt Ltd as consulting TECNIMONT 1963 firm in the plant sector in Mumbai 1966 Giulio Natta Incorporation of Nobel Prize for chemistry MONTEDISON 1888 1884 MONTECATINI EDISON 5 Mines and Chemicals Power Supply
GROUP STRUCTURE MAIRE TECNIMONT GROUP OVERVIEW – NOVEMBER 2017 • Infrastructure & Large-scale • Refining • Fertilizers contracting in: • Hydrogen and Technology Civil Engineering • Oil & Gas Syngas Production • Renewable Energy • Polyolefins • Sulphur Recovery • Fertilizers Business Technology, Engineering & Construction Infrastructure & Unit Civil Engineering 6
TECHNOLOGY, ENGINEERING & CONSTRUCTION Maire Tecnimont Group’s Presence Across the EPC Value Chain EXECUTION- DRIVEN TECHNOLOGY-DRIVEN PROJECT LIFE-CYCLE LICENSING ENGINEERING PROCUREMENT CONSTRUCTION SUPPORT DEVELOPMENT Startup • FERTILIZERS Operation • Advice MAIRE TECNIMONT GROUP OVERVIEW – NOVEMBER 2017 OIL & GAS Maintenance • Inspections • PETROCHEMICALS Revamping • Subsidiary: Full Involvement: From Project Development to Life-Cycle Support 7
INFRASTRUCTURE & CIVIL ENGINEERING Long-Lasting Competencies in Transportation and Civil Engineering DESIGN AND CONSTRUCTION OF OVER 30% � Underground projects (including the first OF HIGH SPEED & HIGH CAPACITY RAILWAYS driverless metro system in Italy), railways, CURRENTLY OPERATED IN ITALY tunnels, roads and highways 300+ PROJECTS SUCCESSFULLY � EPC contracting for construction / COMPLETED IN MORE THAN 40 requalification of hospitals, universities, complex YEARS’ EXPERIENCE buildings and industrial plants MAIRE TECNIMONT GROUP OVERVIEW – NOVEMBER 2017 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 8
EXTENSIVE INTERNATIONAL PRESENCE ROME SITTARD MILAN BRAUNSCHWEIG MUMBAI ITALY 2,281 REST OF EUROPE 332 MAIRE TECNIMONT GROUP OVERVIEW – NOVEMBER 2017 ASIA 2,690 Headquarters Main offices and engineering REST OF THE 75 centres WORLD Subsidiaries, branches and TOTAL representative offices 5,378* EMPLOYEES E & I division ~3,000 GRAND TOTAL ~ 8,378 *Average age: ～ 41 years Approx. 66% graduates A Real Multicultural and Multinational Group 9 Data as of: 30.9.2017
MAIRE TECNIMONT GROUP’S SHAREHOLDERS Major Shareholders % of ordinary shares % of voting rights* GLV Capital S.p.A. 54.877% 70.865% Arab Development Establishment 5.091% 3.287% (ARDECO) MAIRE TECNIMONT GROUP OVERVIEW – NOVEMBER 2017 Schroders PLC 4.984% 3.218% Other institutional and retail 35.048% 22.630% investors NOTE: Based on the latest official information communicated to Maire Tecnimont (e.g. shareholders’ register, official filings) (*) 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. 10
SUMMARY 1. Group Overview 2. Strategy and Competitive Positioning 3. Operations and Commercial Activity 4. Financial Data 5. Conclusions
MAIRE TECNIMONT’S STRATEGIC PRIORITIES Enhance and Develop Technology Driven Business 1 Align Organization and Strengthen EPC in the Pursue Group Synergies Core Business 5 2 Strategic MAIRE TECNIMONT GROUP OVERVIEW – NOVEMBER 2017 Priorities 3 4 Expand Geographic Develop Engineering Services Footprint Revenues 12
STRATEGY IMPLEMENTATION EXECUTION- DRIVEN TECHNOLOGY-DRIVEN PROJECT LIFE-CYCLE LICENSING ENGINEERING PROCUREMENT CONSTRUCTION SUPPORT DEVELOPMENT PROJECT LIFE-CYCLE Detailed DEVELOPMENT SUPPORT Direct Engineering PRODUCTS License Basic Feed Services EP EPC Pre-empt • MAIRE TECNIMONT GROUP OVERVIEW – NOVEMBER 2017 competitive Improve client • pressures TYPICAL loyalty € 1-10m € 1-10m € 4-15m € 10-40m € 50-250m € 0.3-5bn VOLUMES Leverage • Revenue • technological diversification edge Very High High Double High Double Mid Double Low Double TYPICAL Double Digit Digit Digit Digit Digit Single Digit MARGINS Increase plant • Client • value-added partnerships RISK Low Low Low Low Medium High Provide Technological Solutions Throughout the EPC Value Chain 13
GLOBAL & TECHNOLOGICAL LEADERSHIP PETROCHEMICALS FERTILIZERS OIL & GAS 54% Well rooted technology orientation: WELL RECOGNIZED market leader (#1) LEADERSHIP Market share in for installed capacity in Licensing hydrogen licensing urea plants technology and in licensing 30% technology Sulphur Recovery and Tail (#1 worldwide)* Gas Treatment Technology Market share in polyolefin plants 34% WORLD CLASS 40% TRACK RECORD Market share in licensing urea in Large Gas Treatment Market share in granulation technology Plants and Refinery MAIRE TECNIMONT GROUP OVERVIEW – NOVEMBER 2017 LDPE plants (#2 worldwide)* Process Units Since 1970 Since 1971 172 62 Polyethylene Plants 230 117 Polypropylene Plants Ammonia and Urea Plants Hydrogen and Sulphur Recovery Unit Projects completed completed since 1924 1,100 + Strong commitment to technology development Individual Patents 14 * Data are based on corporate analysis
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