Financiële Ratio's Técnicas Reunidas SA
Source : EuropeanMarkets
Financial highlights
• At the end of September 2015, Tecnicas Reunidas’ backlog reached a new high of € 9,977 million, 14%, higher than the 9M 2014, due to a strong order intake. The main contract added to the order book during the 3Q 2015 was the Al Zour refinery project for KNPC in Kuwait.
• After the end of the third quarter, the company signed its first engineering and procurement contract (EP) for Sasol in the US and the ADOC upstream project in Abu Dhabi, to be included in the 4Q 2015 backlog.
• In 9M 2015, revenues grew by 31% to € 3,006 million, as a result of the backlog execution.
• Following sales growth, EBITDA and EBIT grew by 27.0% respectively, to € 159 million and € 148 million. In the 9M 2015, operating margins were slightly lower than the year before.
• Net profit went up 16% to € 115 million, despite a higher tax rate and a smaller financial income.
• Net cash position decreased to € 348 million at the end of September 2015. This is due to the combination of lower downpayments in the recent awarded projects and longer payment milestones in certain large projects under execution.
Outlook
Oil price "lower for longer"
Capex reduction depending on clients and geographies
Clients adapting to oil price scenario's
- longer payment terms
- efficiency plans
Source : 9M 2015 Financial Results Técnicas Reunidas SA, 16th of November 2015
