Technip’s Second Quarter 2014 Results

Technip’s Second Quarter 2014 Results

Record backlog in both segments. Strong improvement in Subsea margin.
SECOND QUARTER 2014 RESULTS HIGHLIGHTS
Order intake of €7.1 billion
Revenue of €2.6 billion up 9%
Operating margins1: Subsea 15.3% and Onshore/Offshore 5.3%
Net income of €158 million
OBJECTIVES FOR 2014 AND 2015
Subsea 2014: Revenue increased to between €4.6 and €4.9 billion. Operating margin of at least 12%: no change
Subsea 2015: Revenue well above €5 billion, operating margin between 15% to 17%: no change either
Onshore/Offshore 2014: Revenue increased to between €5.55 and €5.80 billion. Base case operating margin 5% to 6%
Onshore/Offshore 2015: Revenue increased to around €6 billion with stable operating margin versus 2014
Thierry Pilenko, Chairman and CEO, commented:
“Technip’s second quarter was characterized by a substantial improvement in Subsea profitability, exceptionally strong order intake, and the start-up of the Yamal LNG project in Onshore/Offshore.
These elements enable us to improve the 2014 outlook for Subsea and give details on the expected level of operating profit in Onshore/Offshore for this year. Above all, our performance this year to date confirms the long-term visibility we have in critical parts of our business.
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