TechnipFMC (FTI) Goldman Sachs Energy, CleanTech & Utilities Conference summary

Strategic focus and business transformation

• Emphasis on continued growth in subsea revenue and EBITDA margin for 2026, with high confidence in compounding EBITDA growth.

• Transformation over the past decade focused on reducing cycle time and improving project returns, making offshore more attractive for capital allocation.

• Subsea 2.0 architecture and integrated projects have driven efficiency, certainty, and customer confidence, leading to increased capital flows to offshore.

• 80% of business is directly awarded, reflecting strong differentiation and customer trust.

• The company’s proven model and internal efficiencies create a win-win dynamic for both customers and shareholders.

Market outlook and regional opportunities

• Offshore market is in early stages of renewed growth, with significant opportunities in Brazil, Guyana, Suriname, West Africa, Eastern Mediterranean, Mozambique, North Sea, Indonesia, Gulf of Mexico, and Namibia.

• No current concerns about Brazil’s activity levels despite industry speculation.

• Offshore reservoirs offer superior returns and lower decline rates compared to U.S. unconventionals, with ongoing efforts to further improve project economics.

• Life of Field services and brownfield opportunities are expected to grow, driven by an expanding and aging installed base.

• Electric subsea infrastructure is enabling longer tiebacks and is being rapidly adopted, especially in CCS projects.

Operational efficiency and innovation

• Subsea 2.0 now represents over 50% of orders and about a third to 40% of manufacturing capacity, with adoption approaching 100%.

• Further cycle time reductions are expected as Subsea 2.0 principles are extended to umbilicals, risers, flow lines, and installation processes.

• Lean methodology and a culture of continuous improvement drive margin expansion and operational efficiency.

• Advanced robotics and automation enable in situ subsea repairs, reducing downtime from months to days.

• Brownfield tiebacks and all-electric solutions are expanding the economic footprint of existing offshore assets.