Oilfield services provider Technip has reported muted results for the first quarter of 2014, with net income of €67.2 million, compared to €116.2 million for the same period in 2013.

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) were €180.6 million, down 18.5% on 2013’s €221.6 million.

However, Technip did report growth in revenues, up 23.3% to €2.5 billion, from 2013’s €2 billion, and announced a total backlog of €15.4 billion, with an estimated €7 billion for execution in 2014.

The company said it was confident of improved fortunes in the near future. Its 2014 forecast for onshore/offshore revenue is between €5.4 and €5.7 billion with operating margin between 6% and 7%.

Newsletter

Delivered directly to your inbox World Construction Week features the pick of the breaking news stories, product launches, show reports and more!

Sign up for free

Newsletter

Delivered directly to your inbox World Construction Week features the pick of the breaking news stories, product launches, show reports and more!

Go to newsletters