TechnipFMC (FTI) Announces FY19 Financial Guidance

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December 12, 2018 4:18 PM EST

TechnipFMC plc (NYSE: FTI) today issued its fiscal 2019 financial guidance.

2019 Financial Guidance1

Subsea Onshore/Offshore Surface Technologies
Revenue in a range of $5.4 – 5.7 billion Revenue in a range of $5.7 – 6.0 billion Revenue in a range of $1.7 – 1.8 billion
EBITDA margin at least 11% (excluding amortization related impact of purchase price accounting, and other charges and credits) EBITDA margin at least 12% (excluding amortization related impact of purchase price accounting, and other charges and credits) EBITDA margin at least 17% (excluding amortization related impact of purchase price accounting, and other charges and credits)
TechnipFMC
Corporate expense, net $160 – 170 million for the full year (excluding the impact of foreign currency fluctuations)
Net interest expense $40 – 60 million for the full year (excluding the impact of revaluation of partners’ redeemable financial liability)
Tax rate 28 – 32% for the full year (excluding the impact of discrete items)
Capital expenditures approximately $400 million for the full year
Cash flow from operating activities positive for the full year

Merger integration and restructuring costs approximately $50 million for the full year

Cost synergies $450 million total savings ($220m exit run-rate 12/31/17, $400m exit run-rate 12/31/18, $450m exit run-rate 12/31/19)

1 Our guidance measures EBITDA margin (excluding amortization related impact of purchase price accounting, and other charges and credits), corporate expense, net (excluding the impact of foreign currency fluctuations), net interest expense (excluding the impact of revaluation of partners’ redeemable financial liability), and tax rate (excluding the impact of discrete items) are non-GAAP financial measures. We are unable to provide a reconciliation to comparable GAAP financial measures on a forward-looking basis without unreasonable effort because of the unpredictability of the individual components of the most directly comparable GAAP financial measure and the variability of items excluded from each such measure. Such information may have a significant, and potentially unpredictable, impact on our future financial results.

Teleconference and presentation

The Company will host a teleconference on Thursday, December 13, 2018 to discuss its 2019 financial guidance. The call will begin at 1 p.m. London time (8 a.m. New York time). Dial-in information and an accompanying presentation can be found at www.technipfmc.com.

Webcast access will also be available on our website prior to the start of the call. An archived audio replay will be available after the event at the same website address. In the event of a disruption of service or technical difficulty during the call, information will be posted on our website.


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