Record backlog for Technip

Premium Content

25 October 2012

US contractor Technip has reported strong third quarter results with revenue up +22.8% year-on-year to € 2.1 billion (US$ 2.7 billion).

Third quarter EBITDA increased +23.5% to € 269.1 million (US$ 350 million), while operating income was up +19.9% to €211.2 million (US$ 275 million) and net income up +20.9% to € 146.3 million (US$ 190 million).

The quarter was buoyed by a strong order intake of € 2.8 billion (US$ 3.6 billion), taking the company’s total backlog to € 13.5 billion (US$ 17.5 billion) – a record figure for Technip. Of this backlog, € 6.1 billion (US$ 7.9 billion) was attributed to subsea projects.

The company adjusted its year-end forecast upwards to € 8 billion (US$ 10.4 billion). Subsea revenue is forecast to hit € 3.5 billion (US$ 4.5 billion), with an operating margin of 15%. Onshore/offshore revenue is predicted to reach € 4.3 billion (US$ 5.6 billion), with an operating margin of between 6.5% and 7%.

Latest News
New head of KHL’s Content Studio discusses how people make decisions on what to buy
Jon Abrahams describes why industry stalwarts and disruptors alike should consider adding content marketing to their business strategies
Crane Institute of America appoints L.D. Stutes as GM
Stutes enters this newly created position with 37 years of experience.