Técnicas Reunidas

TecnicasReunidas

Técnicas Reunidas: Portfolio at Historic High (€10,026 million) but Low Visibility on Margins

Bankinter | Técnicas Reunidas enjoys a record order book and a healthy balance sheet, including a positive net cash balance. However, margins continue to be tight and this is the main source of uncertainty in the medium term. Furthermore, the reduced visibility of the oil and gas price recovery and the low diversification of its business (focused on the Middle East), leads us to increase our caution.


tecnicas reunidas

Middle East represents 70% of Tecnicas Reunidas projects

Alphavalue | Even if the battle between Chevron and Occidental for Anadarko serves to remind us that financial discipline and oil and gas rarely go together, it remains far from its 2014 heights. The companies integrated in Tecnicas Reunidas have drastically restructures their cost basis in the last five years, to the consternation of the oil services sector.


Tecnicas Reunidas announce new tenders at the end of 2018

Tecnicas Reunidas Gains New Tenders At The End Of 2018

Tecnicas Reunidas has announced it has secured the tenders for three contracts at the close of 2018 for around 1 billion dollars (870 million euros). The new tenders are the most positive aspect in recent months. In the middle of November a new contract was also announced for 1.27 billion euros.



Ruusian oil industry

Russia: Oil Is Cheap, But Peace Is Dear

Russia’s economy of 140 million people has managed to survive inflation (2.5%) and the fall in the rouble, although it needs to make the energy miracle last one decade more to offset sanctions.



tecnicas reunidas

Tecnicas Reunidas, Leading The Bid For Aramco Gas Projects

According to market sources, Tecnicas Reunidas has presented the most competitive offer to construct two gas projects tendered by Saudi Aramco. Other companies involved in the bid are Saipem and Samsung E&C. The result could be announced at the beginning of November.


Tecnicas Reunidas

Ibex 35: Tecnicas Reunidas

Year 2017 will bring a change in trend for Técnicas Reunidas, after two years of sharp declines in investment in the petrochemical sector (-43% in 2015 and -27% in 2016e) as a result of the drop in oil prices. According to ACF’s analysts this hypothesis is supported by forecasts for there being an equilibrium between supply and demand for oil by mid-2017, which should reactivate investment in the sector.



tecnicas reunidas

Tecnicas Reunidas Q2 top line results beat consensus; show robust pipeline

Citi | Tecnicas Reunidas (TRE) reported second quarter 2016 EBIT of €50 million vs consensus of €41 million (+20%), driven by higher revenues. Citi analysts flag that the operating margin of 4% was in-line with the company’s guidance, with the execution progressing as planned on all key projects.