ALTRAD Services Corporate presentation

Transcription

1 PU SERVICES ALTRAD Services Corporate presentation GROUP COMMITTEE O. Dufour, J.L. Chassagne, S. Randu 14-18th of March,

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3 ALTRAD Services Corporate Presentation 3

4 Executive summary 1. Altrad Group history 2. Financial performance 3. Core Values 4. Excellence in Safety 5. Quality & Certifications 6. Introducing Altrad Industrial Services 7. Our approach: from disciplines to integrated solutions 8. The services we deliver 9. Geographical footprint 10. Markets served 11. Flagship projects 12. Major clients 4

5 Altrad Group history Altrad: a stable family-owned company with a long-term vision Founded in 1985 and controlled by Dr. Mohed ALTRAD Headquarters in Montpellier, France Private and unlisted company Long-term partnerships with institutional investors Shareholding structure (% of share capital as of April 1 st, 2016) Participations 1.69% 2.42% 7.25% 10.87% ALTRAD family 77.78%* Note (*): Through Altrad Participations / 72.17% post potential maximal dilution related to the issuance of ORA (Reimbursable Bonds) and OBSA (Bonds with warrants attached) in 2015 Key steps in the Altrad Group development A growth strategy based upon the acquisition of industry leading companies 2015 Acquisition of Hertel 2006 Development of the service activity with the takeover of Balliauw (Belgium, France, The Netherlands) Development of activities in Europe through the creation of new subsidiaries, and targeted acquisitions (struggling companies mainly) Development of activities on the French territory 2016 Acquisition of Prezioso Linjebygg Acceleration of the development in the hire and services business in Europe: Poujaud (France), Jalmat (France), NSG (UK), Beaver 84 (UK), MTD (UK), Generation (UK), TRAD (UK) and Rodisola (Spain) 1989 Takeover of Altrad Saint Denis (ASD), manufacturer of concrete mixers 1987 Start of production of equipment for local authorities 1985 Creation with the takeover of Mefran, specialised in scaffolding manufacturing 5

6 Financial performance Altrad Group: consolidated figures for 2015/16 Pro forma Revenues*: 2,350m PF* Revenues by segment 26% Services (74%) Around 22,000 employees worldwide 74% Equipment (26%) Sales in Europe, Asia, Africa, Australia and Middle-East PF* Revenues by geographic region An unparalleled stock of scaffolding: More than 400,000 tons including services activities, With a replacement value of 1bn 25% 26% 49% Continental Europe (49%) Emerging countries (26%) UK (25%) PF* Services revenues by client type Note (*): Pro forma figures (i.e. with Prezioso Linjebygg 12 months business) as of August 31 st, 2016 Prezioso Linjebygg acquisition effective on May % Oil & Gas (39%) 39% Energy & Power (24%) 19% Process (19%) EPC (18%) 24% 6

7 Financial performance Altrad Group: a well-balanced geographical footprint Revenues by geography PF* Sales: 417m Sales: 2,350m 6% 94% Continental Europe (94%) UK (6%) 26% Continental Europe (49%) 49% UK (25%) 25% Emerging countries (26%) Geographic split by segment in 2016 (% PF sales*) Equipment Services 43% 57% Continental Europe (57%) UK (43%) 18% Continental Europe (47%) 47% Emerging countries (35%) 35% UK (18%) 2016 PF* sales: 618m 2016 PF* sales: 1,732m Note (*): Pro forma figures (i.e. with Prezioso Linjebygg 12 months business) as of August 31 st, 2016 Prezioso Linjebygg acquisition effective on May

8 Financial performance Altrad - Industrial Services Business Unit results Amongst the Top 2 players worldwide Strong growth over recent years through 2 major acquisitions: 1,732m Pro forma* 2015/16 sales 2000 Altrad Industrial Services Revenue (as of August 31) Organic revenue Hertel contribution Prezioso Linjebygg contribution Note (*): Pro forma figures (i.e. with Prezioso Linjebygg 12 months business) as of August 31 st, 2016 Prezioso Linjebygg acquisition effective on May

9 Core Values: the foundation of our success COURAGE We are eager to reach out beyond new boundaries and we are willing to explore innovative ways of thinking and working. What we do is therefore not easy: we are entrepreneurs and thus take risks and challenge ourselves permanently. Our objective is always to achieve the best outcome despite the difficulties. HUMILITY We are open to differing points of view and are convinced that we can learn from anyone, anywhere. We always act and lead in a manner that expresses a spirit of inclusion. We tend to learn from mistakes and successes in equal measure and, above all, we never underestimate our competition. For every project, we seek and provide honest feedback to reach our goals by continuous improvement. RESPECT We accept the responsibility as a group and as individuals to prevent situations that jeopardise the health and safety of everyone at our workplaces. We treat people with consideration, regardless of their position. We conduct our business in accordance with exemplary standards of transparency, integrity and honesty. We hold a deep sense of responsibility towards all of our stakeholders and the environment we work in. SOLIDARITY Solidarity is about teamwork and reliability. We collaborate and contribute to the different projects we undertake together by sharing ideas and opportunities, knowledge and resources. We support each other and stand up for each other. We always foster open and collaborative relationships and we put the common good before personal interests. CONVIVIALITY Every day, we try to create a work environment that reflects the spirit of our teams, based upon commitment and open-mindedness. Together, we know how to share and to collaborate in a convivial spirit. We also celebrate success and combine functional excellence and cross-functional teamwork to produce exceptional ideas and results. 9

10 Excellence in Safety Message from the Group General Management Among the Altrad Group, at every company level, numerous initiatives have been introduced to improve Safety. These initiatives are always part of a continuous improvement process based on identifying, analysing and controlling risks. To reduce these risks and make safety a genuine value shared by all its employees, Altrad is committed to making safety a basis of its corporate culture. The approach that we promote enables everyone to become involved and give their opinion on topics relating to health and safety. On a day-to-day basis, everyone s contribution is both necessary and welcome. It creates a collective commitment and helps us to develop a genuine safety culture. Mohed Altrad (PhD), CEO Our key drivers to develop our safety culture Make safety a fundamental value shared by all Keep coherence and persistence in our daily decisions and actions Focus on the importance of major risks and their prevention strategy Share the safety vision and responsibilities between employees and management Foster individual intervention through transversal cooperation and dialogue Inspire Safety as positive attitude Recognise good practices and apply fair penalties Develop leadership in safety through the entire chain of command, regardless of level or position Commit to a long-term approach 10

11 Safety Performance in Oil & Gas Market Working hours & Total Recordable Incident Rate OSHA Standard 11

12 Group Safety Policy A common frame for Altrad Services entities Vision, Missions, Values Group Targets HSE Commitment A common Tagline: Beyond Zero A common reporting system HSE guidelines Development ways: Culture, Behaviours & Leadership Fundamentals Framework Group Golden Rules Communication Organisation Sharing of lessons learned from incidents, and best practices HSE Forum HSE experts network H&S Progress Unit Periodical HSE management review 12

13 Leading the overall performance with Safety Taking into account Human & Organizational Factors of Safety (HOFS) enables to encourage a positive contribution from operators (and teams) with regards to safety In order to control our risks, we develop in the field our capacity to anticipate, early detect and respond appropriately to variations of the working conditions Overall Performance The same underlying factors lead to Safety performance but also Quality and Productivity 13

14 Quality & Certifications The global nature of the sectors we work for has a significant impact on our certification processes. In order to better serve our markets, we have decided to always rely upon high international standards. This approach helps us develop our activities in accordance with all types of regulations (even local) and clients specific demands. For that reason, the majority of our operations conform to internationally recognised management standards (e.g. ISO 9001, OHSAS and ISO 14001). Each entity owns and manages its own certifications for both staff and the company according to its needs & local requirements 14

15 Quality & Certifications (Extract) Areas of certification Quality & HSE ISO 9001 ISO OHSAS ISO Companies Staff According to the job & working environment Trade Anticorrosion PFP, Insulation Asbestos removal Rope Access Scaffolding Steel structure NDT, etc. According to the job & working environment 15

16 Introducing Altrad Industrial Services (1/2) The Altrad Industrial Services Business Unit is the combination of various Altrad companies, all leaders in their respective markets: Hertel, Prezioso Linjebygg, Altrad Rodisola, Altrad NSG, Poujaud, Comi Service and Altrad Balliauw. The Altrad Industrial Services Business Unit ensures its clients receive added value through the provision of efficient solutions based on its recognised know-how, quality management and reputation. We deliver services throughout the lifecycle of our clients assets. We offer a wide range of cost-driven integrated solutions covering SIPM (Scaffolding, Insulation, Painting, Mechanical). Our major competitive advantage is our people, passionate and committed to excellence. SAFETY is our priority, our fundamental value, at every stage. We deliver on a global basis, especially in Europe, Africa, Middle East, Asia, and Australia, where we hold leading positions. Through sustainability and performance focus, we aim at serving our clients on a long-term basis. 16

17 Introducing Altrad Industrial Services (2/2) Altrad holding Support Services - Finance & accounting, Internal audit & cost control, Legal, IT, HR, Sourcing, Business support - EQUIPMENT MANUFACTURING & SALE Business Unit Our approach: from disciplines to integrated solutions 37 companies 22 production sites worldwide Manufacturing, sale & hire of: Scaffolding, formwork, props, shoring, events equipment (grandstands, platforms, etc.) Manufacturing & sale of: Mixing, carrying, and compacting equipment Public facilities (playgrounds for children, multipurpose sport fields, etc.) 17

18 INDUSTRIAL SERVICES Conception Approve capital Front-end engineering Detailed engineering Contractor project management Procurement Fabrication & construction Transport & installation Hook-up Commissioning Operations support Integrity management & maintenance Decommissioning Dismantling Our approach: disciplines to create client-oriented synergies Project definition Engineering design Project procurement Construction Hook-up & commissioning Asset Management Decommissioning & dismantling Core of competencies Integrated Offer Level 1 Maintenance Integrated Offer / ultimate stage Corrosion & Inspection Engineering Maintenance Engineering Maintenance & Inspection Engineering Contract - MIEC Inspection Inspection Services Contract Installation & Modification Rope Access Insulation Scaffolding Surface treatment Fabric Maintenance Contract FMC Full Asset integrity Management and Maintenance Offer Electrical, Instrumentation, Mechanical works, etc To be clarified as per client s contract strategy INTEGRATED SOLUTIONS FOR CAPEX & OPEX 18

19 Our approach: traditional services, in a nutshell Surface preparation Extensive range of applications (cleaning, blasting, cutting, demolition) All technologies including: traditional abrasive techniques, Ultra-High Pressure water jetting, permanent surface treatment workshop, localised induction heating Insulation Hot thermal insulation Cryogenic insulation Soundproofing Pre-insulation Prefabrication workshops Confined areas and environmental conditioning CUI solutions Technical Insulation Performance assessment (TIPCHECK by EiiF) Surface treatment / coating Anticorrosion coating Concrete repair works & coating Non-metallic repair works (composite solutions) Thermal Spray Coating Concrete impermeability Applications for the built environment Special tank lining Traditional Access / Scaffolding Scaffolding Tensioned netting Mobile platforms Passive Fire Protection Intumescent coatings Fire stop joints Fire-resistant solutions Fireboxes Refractory linings Mechanical works Piping & equipment fabrication Incl. fabrication of structural steel, piles & pile guides, plate girders, pressure vessels and pipework Wide range of welding processes Machining services (bolting services, flange facing ) 19

20 Our approach: non-traditional services Offshore oriented 1/3 Difficult to access modifications, repairs and maintenance Jacket upgrades or replacement A range of special solutions designed for use in the offshore O&G sector in difficult-to-access areas where scaffolding, crane or helicopter access is difficult or costly, using: Specially designed lifting tools Advanced rigging or lifting methods Design and engineering of solution Procurement / fabrication of materials Installation using rope access lifting or rigging techniques Small effective multi-skilled teams Specially designed cutting tools Flare tip modification or replacement Cutting and removal Avoid use of helicopters / crane barges Specially designed lifting tools and advanced rigging Project design, engineering and execution Wide range of cutting tools in our product range, including: Subsea diamond wire saws Topside ATEX Zone 1 certified diamond wire Repair / maintenance of risers and other jacket structures FPSO swivel exchange Below deck solutions with cofferdams Work can be executed whilst riser is in operation During operation offshore Advanced rigging / lifting Design and engineering of project 20

21 Our approach: non-traditional services Offshore oriented 2/3 Modification and maintenance support services Internal tank or vessel inspection Provision of suitably qualified rope access and rigging / lifting personnel for a wide range of offshore projects (e.g. hook-ups, jumper / riser installation - transfer, derrick bolt torqueing) Inspection and cleaning of tanks without the need for personnel to enter ATEX certified programmable remotely operated inspection and cleaning arm Manually operated inspection tools for special needs Splash zone inspection and cleaning solutions Habitats Design, engineering, fabrication, installation and execution of inspection and cleaning services in the challenging splash zone using remote access tools operated from the topside and fixed to the offshore structure ATEX certified pressurised habitats allow naked flames and other hot works to be carried out without the need for a production shutdown Flexible and modular system not seen as confined space Rope access NDT inspection Piping Integrity Management Inspection and maintenance of corrosion under pipe supports UTM (class surveys), SPS, UWILD, Traditional and advanced NDT, Drops surveys, Derrick inspection, API inspection, Lifting gear inspection Stress calculation of pipeline (development of lifting matrix) Production of lifting plans Inspection, repair and blasting / painting 21

22 Our approach: non-traditional services Offshore oriented 3/3 Rope Access performed ISS services Crane replacement Flare tip replacement Lifeboat installation support Piping integrity programme Special lifting / rigging Lifting in areas without crane coverage Tank cleaning & inspection Hot work support using Habitats Jacket reinforcement Cold cutting topside Rope access based inspection surveys Cold cutting in the splash zone / subsea Riser & structural repair Splash zone / subsea operations (inspection, cleaning ) 22

23 Geographical footprint 18% Continental Europe (47%) 47% Emerging countries (35%) 35% UK (18%) 2016 PF* sales: 1,732m 23

24 Markets served 49% Oil & Gas Offshore platforms (fixed & floating), FPSOs, FSOs, refineries, liquefaction & regasification plants - LNG, storage sites, petrochemical plants 23% Power Generation Nuclear, thermal, hydroelectric, renewables 28% Process Industrial plants, petrochemicals, steel industry, cement industry Others Marine & naval vessels, bridges, viaducts, tunnels, water & sewage treatment facilities 24

25 Flagship projects GORGON Client: Chevron Barrow Island in Australia Market: Oil & Gas Scope: Supply and installation of painting, insulation & fireproofing Key figures: Contract size: AU$700M Major dates: November 2011: contract award February 2014: mobilisation to Barrow Island March 2017: handover train #3 Key-features: Second largest contract, with a total peak workforce of 1,200 personnel employed and an average of 720 deployed on the construction site The Gorgon project is located on Barrow Island which is a Class A Nature Reserve located 85 Km off the Western Australia coast Working on the Class A reserve imposed extreme quarantine requirements and logistics challenges with everything transported to site required to be fumigated and quarantined prior to shipment We extend the life of your investments 25

26 Flagship projects GORGON TDI Client: FLUOR / BASF Ludwigshafen in Germany Client: Chevron Barrow Island in Australia Market: Process / EPC Market: Oil & Gas Scope: Supply and installation of painting, insulation & Scope: Piping pre-fab including painting, piping & equipment erection, fireproofing electrical and steam tracing, insulation, scaffolding and fabrication of Key collum figures: internals Contract size: AU$700M Major Key figures: dates: November Contract size: 2011: Below contract 300M award (confidential) February 2014: mobilisation to Barrow Island Major March dates: 2017: handover train #3 Key-features: November 2013: contract signed Second February largest 2015: contract, transition with from a unit total rate peak to workforce time & material of 1,200 personnel November employed 2015: commissioning and an average of 720 deployed on the construction site June 2016: installation of insulation boxes for valves and flanges and The completion Gorgon of project all remaining is located works on Barrow Island which is a Class A Nature Reserve located 85 Km off the Western Australia coast Key-features: Working on the Class A reserve imposed extreme quarantine requirements The new plant and is the logistics first facility challenges in the with world, everything which is able to produce transported 300,000 tons to per site year required in only to one be fumigated single-stranded and quarantined production line prior Hertel to achieved shipment more than 3.0 million hours LTI-free The manpower load was at the highest in week 12 with a total of approximately 1,423 personnel (including overhead) We extend the life of your investments 26

27 Flagship projects GIRASSOL Client: Total E&P Market: Oil & Gas Client: Chevron Barrow Island in Australia Scope: A complete and unprecedented revamping project: a Market: Oil & Gas multidisciplinary and comprehensive approach encompassing all Scope: Prezioso Supply Linjebygg s and installation areas of expertise: of painting, blasting insulation (especially & U.H.P. fireproofing water jetting), anticorrosion coatings, fire protection, thermal Key insulation, figures: scaffolding, rope access work Key Contract figures: size: AU$700M Major Contract dates: size: $310M November 3 million man-hours 2011: contract over award the five-year period February Average POB: 2014: 100 mobilisation operators to (i.e.: Barrow 200 mobilised Island people) Major March dates: 2017: handover train #3 Key-features: The project started with a hook-up, in , in Fos-sur-Mer Second (France) largest The Rosa contract, Project with a total peak workforce of 1,200 personnel Year of completion employed of and the an whole average Girassol of 720 project: deployed 2016on the Key-features: construction site The First Gorgon complete project revamping is located ever on on Barrow an operating Island FPSO which is a Class A Nature Reserve located 85 Km off the Western Major safety constraints and measures: training of local workers, Australia coast equipment adaptation full compliance with ATEX Zone II Working directive on the Class A reserve imposed extreme quarantine requirements and logistics challenges with everything Environmental protection: compliance with ISO (abrasive transported to site required to be fumigated and quarantined recovery and recycling, especially in the ballast tanks) prior to shipment Major project coordination aspects to deal with (day and night work, managing a huge increase in human and material resources, etc.) We extend the life of your investments 27

28 GORGON EPR - FLAMANVILLE Flagship projects Client: Main contract with EDF (coatings upon concrete surfaces) Other clients for coatings applied upon material and equipment: Alstom, Client: Chevron Barrow Island in Australia Market: Endel, Oil Ponticelli, & Gas Fives Nordon, Otis, Iberdrola, etc. Scope: Market: Supply Power Generation and installation (Nuclear) of painting, insulation & fireproofing Scope: Key figures: For the construction of its 3rd generation nuclear reactor based in Flamanville, EDF selected Prezioso Linjebygg for all coating operations Our activity on the project mainly involved: coatings of all buildings, and more specifically coating of concrete (walls, ceilings and floors), as well as materials and equipment + Scaffolding & Passive Fire Protection assignments Contract size: AU$700M Major dates: November 2011: contract award Key-figures: February 2014: mobilisation to Barrow Island Contract size: 80M March 2017: handover train #3 Mobilisation of significant resources: 150 operators in painting, 30 others for scaffolding and confinement, and 50 people for the "nuclear cleaning" activity Key-features: Major Second dates: largest contract, with a total peak workforce of 1,200 personnel Prezioso has employed been present and on the an EPR average site since of deployed on the construction Our activity began site slowly in December 2007 The Gorgon project is located on Barrow Island which is a Class A Nature Reserve located 85 Km off the Western growing pace Australia coast Key features: Working on the Class A reserve imposed extreme quarantine Extremely complex project management requirements and logistics challenges with everything transported to site required to be fumigated and quarantined Extremely high level of requirement and excellence, both in terms of prior to shipment Because of the complexity of the project, the objective of initial marketable production is set for / Prezioso Linjebygg is now continuing at a Crucial stakes such as simultaneous operations and compulsory planning gains construction quality, but also in terms of safety Participation in local economic development: training sessions for about 120 trainees-candidates through a partnership with EDF, Pôle Emploi and the Regional Council of Basse Normandie We extend the life of your investments 28

29 GORGON SKIKDA LNG Flagship projects Client: Sonatrach / KBR (Kellogg Brown & Root) Client: Market: Chevron Oil & Gas Barrow Island in Australia Market: Oil & Gas Scope: Scope: Supply and installation of painting, insulation & fireproofing Key figures: High production capacity project with the replacement of 3 train units by the construction of one single mega-train, more efficient, solid and safe than prior infrastructures, with an expected production of 4.5 million tons of LNG per year Passive Fire Protection / Insulation / Painting operations Contract size: AU$700M Major dates: Key figures: November 2011: contract award Contract size: 36M February 2014: mobilisation to Barrow Island March project 2017: handover train #3 More than 2 million hours of work for PREZIOSO Linjebygg to complete the Prezioso Linjebygg s ability to mobilise personnel on a large scale: Number of Algerian employees (900 workers) Key-features: Second largest contract, with a total peak workforce of 1,200 personnel employed and an average of 720 deployed on the Philippines (30 supervisors) + Indonesian workers (300) construction site The Gorgon project is located on Barrow Island which is a Major dates: From 2009 to 2013 Class A Nature Reserve located 85 Km off the Western Australia coast Key-features: Working on the Class A reserve imposed extreme quarantine requirements and no accident occurred and logistics during challenges this project with everything transported to site required to be fumigated and quarantined prior to shipment The project also required larger teams: management personnel from the Exemplarity in the field of Safety: all the preventive measures were put in place Passive fire protection works, followed by insulation and painting operations: the focus was on reinforced acoustic protection, the implementation of a powerful anti-corrosion system and specific protection to face the mechanical requirements of this type of facility Also note the need to lighten the lagging materials to facilitate maintenance work We extend the life of your investments 29

30 Flagship projects GORGON DUNKERQUE LNG Client: Client: EDF Chevron (final client), Barrow Island in Australia Market: TS LNG Oil - & Techint Gas (It) & Sener (Sp) Scope: Supply and installation of painting, insulation & fireproofing Market: Oil & Gas Key figures: Scope: Contract size: AU$700M Major Construction dates: of an LNG terminal in the avant-port West of November Dunkerque 2011: contract award February Main assignment: 2014: mobilisation pre-insulation to Barrow work on Island the gas receiving pipes, on the jetty March 2017: handover train #3 Other services provided: scaffolding, painting Key-features: Second largest contract, with a total peak workforce of 1,200 Key-figures: personnel employed and an average of 720 deployed on the construction Contract size: site 35M The An average Gorgon of project 100 operators is located on Barrow Island which is a Class A Nature Reserve located 85 Km off the Western Major Australia dates: coast From 2013 to 2016 Working on the Class A reserve imposed extreme quarantine requirements and logistics challenges with everything Key-features: transported to site required to be fumigated and quarantined prior Construction to shipment of a dedicated workshop for the pre-insulation part Participation in local economic development: training sessions for about 15 trainees-candidates through a partnership with the local authorities, Pôle Emploi and EDF We extend the life of your investments 30

31 Major clients Oil & Gas Power Generation Process Others 31

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