H1 2026 Results July 30th, 2026 Juan Lladó – Executive Chairman Eduardo San Miguel –CEO
AGENDA 1 |
3 |H1 2026 Highlights
Awards
TR Power
North America
Services and Digitalization, AI & Robotics
Financial Results
Final Remarks2 | 4 | 5 | 6 | 7 |
AGENDA 1 |
3 |H1 2026 Highlights
Awards
TR Power
North America
Services and Digitalization, AI & Robotics
Financial Results
Final Remarks2 | 4 | 5 | 6 | 7 |
4 H1 2026 ResultsMiddle East: moving towards normalized project execution Unchanged and on-time client
payments
Robust order intake performance (6 B€ YTD) and high visibility on forecasted awards for 2026 (+8 B€) H1 2026 Highlights
EBIT
Provision
Net cash1Q 26 2Q 26 45 0 Salesin M€
1,582 1,478
31 73
344 360 1H 26 1H 25
2,744
0 120
247
(ex-SEPI) 3,061
45 104
344
AGENDA 1 |
3 |H1 2026 Highlights
Awards
TR Power
North America
Services and Digitalization, AI & Robotics
Financial Results
Final Remarks2 | 4 | 5 | 6 | 7 |
6 H1 2026 ResultsOilfield project
Awards
Largest award in TR’s history •Largest award in TR’s history •TR as sole contractor •World’s second largest offshore oil field •Shareholders: ADNOC and Exxon •Letter of Award signed and project kick -off meeting celebrated July 1st •2 packages totaling +5 B€+5 B€
7 H1 2026 ResultsGreenlightAwards First step in TR’s Hyperscaler Data Center strategy •TR’s first project within its strategy to penetrate Data Center market for Hyperscalers •Electricity generated will be used to energize META Data Centers in Canada •Shareholders: Pembina, Morgan Stanley Infrastructure Partners and Kineticor •932 MW CCGT plant, Carbon Capture Ready, expandable to 1,864 MW570 M€
AGENDA 1 |
3 |H1 2026 Highlights
Awards
TR Power
North America
Services and Digitalization, AI & Robotics
Financial Results
Final Remarks2 | 4 | 5 | 6 | 7 |
9 H1 2026 Results*Not included in the backlogTR Power
Strong visibility
Executing early works
2.2 B€
1.1 B€*
~1.5 B€* Backlog as of June Power Project in UAE CCGTs for RWETR Power spin -off
completed
Aim to double
Power workforce
by year endFinal Notice To Proceed expected by October Expected for late 2026
AGENDA 1 |
3 |H1 2026 Highlights
Awards
TR Power
North America
Services and Digitalization, AI & Robotics
Financial Results
Final Remarks2 | 4 | 5 | 6 | 7 |
11 H1 2026 ResultsNorth America
>200 M€
by year -end
52 M€
2026 YTD
70 M€
FY 2025Feasibilities,
Pre-FEEDs and FEEDs Feasibilities, Pre-FEEDs and FEEDs EPmCm Current services contracts under execution could translate into 8 B€ EPCm projects in 2027 -28 Strong relationships with US clients increase future opportunities
across America
AGENDA 1 |
3 |H1 2026 Highlights
Awards
TR Power
North America
Services and Digitalization, AI & Robotics
Financial Results
Final Remarks2 | 4 | 5 | 6 | 7 |
13 H1 2026 Results Focus on profitability and efficiencyServicesServices and Digitalization, AI & Robotics
~375 M€
awards in
2026 500 M€
revenues
2028 target
confirmedDigitalization, AI & Robotics
~30% gross
margin
range
maintained40M€
investment
for 2026+400 FTE
digital
team by
year -end
AGENDA 1 |
3 |H1 2026 Highlights
Awards
TR Power
North America
Services and Digitalization, AI & Robotics
Financial Results
Final Remarks2 | 4 | 5 | 6 | 7 |
15 H1 2026 ResultsEBIT margin 4.3% 4.5% 4.5% 4.6% 4.8% * 5.0% Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026Financial Results Sustained profitability growth *Refers to Underlying EBIT
16 H1 2026 ResultsNet cash position *
(M€)
219332 344175
2024 2025 H1 2026
Net cash SEPI PPL400564 622175
2024 2025 H1 2026
Equity SEPI PPLEquity *
(M€)
*SEPI PPL includedFinancial Results
Balance Sheet
AGENDA 1 |
3 |H1 2026 Highlights
Awards
TR Power
North America
Services and Digitalization, AI & Robotics
Financial Results
Final Remarks2 | 4 | 5 | 6 | 7 |
18 H1 2026 ResultsUnderlying EBIT >325 M€Revenues >6.5 B€ Underlying EBIT margin >5%2026 Guidance
EBIT ~280 M€
EBIT margin ~4.3%•6 B€ YTD order intake •+8 B€ forecasted awards for 2026; ~375 M€ in services •Middle East: moving towards normalized project
execution
•Focus on profitability and efficiency: Services and Digitalization, AI & RoboticsFinal Remarks Already managing an extraordinary investment cycle:
Middle East, Power business and North America