TechnipFMC (FTI) Barclays 40th Annual Energy-Power Conference summary

Market leadership and business model evolution

• Achieved significant growth by establishing a leading position in offshore equipment and reshaping the subsea market with integrated offerings and iEPCI, resulting in higher orders, revenue, and margins over several years.

• Maintains over 50% of the global installed subsea base, leveraging advanced automation, robotics, and long-term service contracts, creating a resilient annuity-like business.

• 80% of business is now direct awarded, reflecting strong customer trust and high execution standards, with most projects delivered ahead of schedule.

• Exclusive, long-term client relationships provide unique visibility into future projects, enabling early involvement and portfolio-based project planning extending beyond 2030.

• Greenfield and brownfield projects are both driving growth, with greenfield FIDs adding to stable brownfield activity, and customer behavior shifting toward multi-project commitments.

Technology, efficiency, and cycle time reduction

• Subsea 2.0® and lean management have driven major reductions in project cycle times, with tiebacks now completed in 14 months versus 28 months previously.

• The company is expanding its proven subsea equipment playbook to the entire offering, targeting further cycle time reductions and margin improvements.

• Focus on eliminating waste is central, with a cultural shift toward lean practices and continuous improvement across all operations.

• The relentless pursuit of cycle time reduction is seen as a win-win, benefiting both customers and the company through faster project delivery and higher returns on capital.

• Only one third of the efficiency journey is complete, with significant runway remaining for further gains in the next two-thirds, especially in installation and water column operations.

Market outlook and regional trends

• Brownfield portfolio management is expected to be a durable and growing part of the business, acting as an accelerant as offshore infrastructure is optimized for additional reserves.

• Key growth regions identified for 2027 include the Middle East and Latin America, with Latin America’s offshore sector highlighted.

• Asia Pacific, especially Southeast Asia, is experiencing a surge in commercial activity and is expected to play a larger role in growth than previously anticipated.

• Emerging markets and new offshore basins are likely to contribute to increased FIDs and activity through the end of the decade.

• Margin expansion over the next two to three years will be driven by increased throughput, new technology, and continued elimination of waste.