Technip Energies Nv

Hello to everyone, and welcome to Technip Energy's financial results for full year 2022. On the call today, our CEO, Arnaud Piaton, and our CFO, Bruno Biber, will present our business and financial highlights, as well as the outlook. And this will be followed by Q&A. Before we start, I would urge you to take note of the forward-looking statements on slide two. I will now pass the call over to Arnaud.

Thank you Phil and welcome everyone to our full year results presentation. 2022 was a year where our differentiated hybrid model with its complementary long and short cycle business segments continued to yield strong results and I want to express my deep gratitude for the extraordinary commitment of our teams to deliver excellence in execution and a robust operational performance. Turning to the highlights, Our financial performance is very strong, with EPS growth of nearly 30% year-over-year and notable strength in margins, which increased by 50 basis points. We also achieved sustainable commercial successes. With over 60% segment backlog growth for technology, product, and services, TPS, which reinforces the growth outlook of our highest margin segment, and we booked more than €1 billion of awards in energy transition domains, demonstrating our emerging leadership in carbon capture, clean hydrogen and sustainable chemistry. Based on the strength of these results, and in line with our stated dividend policy to pay a dividend annually that is sustainable with potential for growth over time, we are pleased to announce a 16% increase in dividend to 52 cents a share, which is subject to approval at our annual shareholder meeting in May. The dividend reflects both our commitment to shareholders and confidence in our business outlook. Turning to the operational highlights, as reflected in our strong fourth quarter financial performance, our teams continue to demonstrate their resolve and robust business execution. The strength in margins clearly reflects the overall quality of our project's portfolio, a good level of project closeout activity and de-risking of ongoing work, and a growing revenue contribution from TPS. So, overall, We continue to make good progress in project delivery and TPS activities, and we expect resilience in our future margin performance as Bruno will address later in the guidance section. Before turning to the commercial highlights of the quarter, I would like to reflect on a significant achievement. During 2022, we extended our early leadership in energy transition markets with €1 billion of secured orders across carbon capture, clean hydrogen, sustainable chemistry, and floating offshore wind. And this is not a one-off. The five-fold increase over the prior year is a clear indication of our growing maturity in new targeted markets, and we are confident that our backlog will be increasingly populated by these domains in the future. In fact, we believe the current energy agenda and recent government policy announcements create further incentive for our customers and therefore for Technip Energies to invest in new energy markets and the development of low-carbon solutions. And this is confirmed by our very high level of front-end engagement with customers. As I will discuss later in my outlook, we are developing leading positions with differentiation through technology products and solutions. and we are implementing our strategy towards building our future core. Now let's take a look at key recent awards, front-end management engagement, and exciting partnerships that position us well for future success. We benefited from a series of awards in the Middle East, including PMC services for KOC, and Early Works contract with Adnok for its A.N. Gashab project. Momentum and ethylene markets continued as we booked an award for the Golden Triangle project in the U.S., incorporating our latest emission reduction solutions. Our pertinence in the clean hydrogen market continues to be evidenced by notable successes in the fourth quarter. They include a feed for the world's largest low-carbon hydrogen project at Baytown for ExxonMobil, where the planned facility will capture 7 million tons per year. of associated CO2 emissions, as well as feed awards for industrial-scale green hydrogen projects for ENGIE and UNIPER. Both projects are in the Netherlands and have significant expansion plans into the 2030s, well in excess of their initial 100 megawatt capacities. Also in the quarter, we announced several strategic partnerships, including one with that will see two industry leaders join hands to accelerate the delivery of modularized mid-scale energy to enable faster time to market, respond to scarcity of construction resources, and lower emissions through electrification. In summary, a positive quarter for orders, front-end positioning, and partnerships across several exciting markets. Before handing over to Bruno, I will take a moment to highlight the advantages of our differentiated hybrid model. The combination of world-class execution within the long cycle project delivery business alongside a short cycle margin accretive TPS segment provides an ideal blend to deliver strong financial performance across energy cycles. And this has clearly been evidenced since the creation of Technip Energies, where despite facing various stress tests, including the global pandemic, supply chain inflation, and the war in Ukraine, we have continued to deliver sector-leading financial performance, supported by commercial astuteness, robust project execution, and a resolute focus on cash management. Furthermore, Our asset-light business model has enabled us to pivot towards new energy markets that are gathering momentum, and the strength of our balance sheet will allow us to invest and convert our front-runner positions in exciting growth areas. All this means that Technip Energies is set to thrive in the energy transition while we continue to generate high returns for our shareholders and a sustainable dividend.

With that, I will pass on to Bruno to discuss the financial highlights.