Technip enjoys revenue growth

31 October 2013

Technip’s deepwater pipelay vessel the Deep Blue

Technip’s deepwater pipelay vessel the Deep Blue

Contractor Technip reported mixed fortunes with its third quarter results, with revenue up 15.6% to €2.4 billion from €2 billion the year previous.

Net income held steady at €150 million, up slightly on 2012’s third quarter figure of €147 million.

The quarter saw the French contractor sign new orders worth €3.1 billion, leading to a backlog of €15.9 billion, up considerably on Q3, 2012’s backlog of €13.5 billion.

Year-to-date figures for the nine months saw revenue up 16.1% to €6.8 billion from €5.9 billion in 2012. Net income for the nine months was €428.6 million, up 8.4% from 2012’s figure of €395.4 million.

For the full year, Technip expects revenues of around €5.2 billion, and operating margins between 6.5% and 7%.

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