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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