Technip Records Strong Order Intake
On April 22, 2014, Technip’s Board of Directors approved the first quarter 2014 consolidated financial statements. These include the first time application of IFRS 10, 11 & 12.
Financial statements throughout prior period have also been restated to conform to these new standards, as have the Group’s backlog and other key operating indicators.
Highlights of the first quarter 2014 results:
- Order intake of €2.8 billion
- Revenue of €2.5 billion
- Operating margins1: Subsea 5.5% and Onshore/Offshore 5.9%
- Net income of €67 million
- First-time application of IFRS 10,11 & 12: no significant adjustments except on backlog
Thierry Pilenko, Chairman and CEO, commented: “Revenue in both Subsea and Onshore/Offshore segments was above expectations in the first quarter and operating margins were in line.”
To read the full report, visit the following link.
Press Release, April 24, 2014; Image: Technip