Technip’s full year revenue for 2014 climbed 16% to €10.7 billion, after a record full year order intake of €15.3 billion.
The company announced FY adjusted operating income from recurring activities of €825 million, FY adjusted operating margin of 13% in subsea and 4.7% in onshore/offshore, and FY adjusted underlying net income of €564 million.
Technip’s full year 2015 outlook is aligned with previous guidance, with adjusted subsea revenue between €5.2 billion and €5.5 billion, and adjusted onshore/offshore revenue approximately €6 billion.
Thierry Pilenko, Chairman and CEO of Technip, said: “Technip starts 2015 in a strong position. During 2014, Technip won a record amount of new work with order intake of €15.3 billion resulting in a €21 billion backlog of high quality and diversified projects. Our adjusted revenue grew 16% and adjusted operating profit reached €825 million with particularly strong performance in the technology, services and equipment parts of our business. All our employees focused hard on our quality and our safety programmes in 2014, with clear improvements in both areas.:
Pilenko added: “Regardless of the oil price level, our clients have stressed their need to improve the design and running costs of their facilities. Technip has the conceptual engineering skills and innovative technology which can enable them to improve substantially the returns on their projects, including in deep offshore or frontier areas. Where we have had early engagement with our clients, they have seen our ability to deliver substantial optimisation. We will continue to add expertise to broaden our position as a valued partner for our client base, in particular by working more closely with partners in adjacent areas of subsea.
“For 2015, based on our record €21 billion backlog, we are able to give clear guidance for revenue and profit growth and our main focus will again be on delivering our projects in line with our clients’ expectations. We are not only managing our own costs but our clients increasingly see our range of technologies, services, products and project experience as compelling in managing their project costs too. With all of this in mind, combined with Technip’s robust balance sheet, we maintain our progressive dividend policy and propose an 8% increase with a scrip alternative, reflecting our confidence in our ability to create value in the coming years for all our stakeholders.”
Adapted from press release by Callum O'Reilly
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