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TheStreet Open House

Technip’s Fourth Quarter And Full Year 2011 Results

Stocks in this article: TEC

Regulatory News:

Technip (Paris:TEC) (ISIN:FR0000131708):

On February 14, 2012, Technip’s Board of Directors approved the audited full year 2011 consolidated accounts.

 

€ million(Except Diluted Earnings perShare & Dividend per Share)

      FY 10       FY 11      

% Change

     

Change ex. FX Impact

      4Q 10       4Q 11      

% Change

     

Change ex. FX Impact

Revenue       6,081.9       6,813.0       12.0%       12.8%       1,766.9       2,014.3       14.0%       14.3%
EBITDA 3       777.3       883.5       13.7%       14.0%       207.7       274.0       31.9%       32.7%
EBITDA Margin       12.8%       13.0%       19bp               11.8%       13.6%       185bp        

Operating Income From Recurring Activities

620.3 709.5 14.4% 14.4% 164.9 208.2 26.3% 26.7%
Operating Margin 10.2% 10.4% 21bp 9.3% 10.3% 100bp
Operating Income       614.7       693.8       12.9%               156.9       197.2       25.7%        
Net Income 417.6 507.3 21.5% 112.2 149.5 33.2%
Diluted Earnings per Share 4 (€) 3.81 4.41 15.6% 1.00 1.28 28.0%
Dividend per Share 5 (€)       1.45       1.58       9.0%                                        
Order Intake       6,957.4       7,974.8       14.6%               2,472.7       2,238.6       (9.5)%        
 

Thierry Pilenko, Chairman and CEO, commented: “2011 was a year of significant achievement for Technip. We confirmed our growth potential, increasing our backlog by over €1.1 billion, launched key new capex projects and completed three strategic acquisitions, including Global Industries in December. We delivered strong profitability, beyond our initial expectations, with a record net profit of €507 million.

In Onshore/Offshore, we are building on a successful strategy of securing early involvement in projects with strong partners to grow and diversify our project portfolio. In Subsea, we capitalized on our technology leadership and worldwide footprint to build a record backlog of over €4 billion, comprised of a mix of project types and sizes.

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