Technip Energies H1 2025 Financial Results

Core Insights - Technip Energies reported strong financial results for H1 2025, with double-digit growth in revenue and EBITDA compared to the previous year, driven by robust project delivery and proprietary product installations [3][5][4]. Financial Performance - Revenue for H1 2025 reached €3,646.4 million, a 15% increase from €3,164.3 million in H1 2024 [4][23]. - Recurring EBITDA rose by 13% year-over-year to €319 million, with a margin of 8.7% [5][6]. - Net profit for H1 2025 was €191 million, compared to €188.1 million in H1 2024, reflecting a 2% increase [6][8]. - Free cash flow, excluding working capital, was €322 million, representing nearly 100% conversion from EBITDA [5][55]. Business Segments - The Project Delivery segment saw revenue increase by 24% to €2,736.2 million, driven by high activity in Qatar LNG projects [25][26]. - The Technology, Products & Services (TPS) segment experienced a 5% decrease in revenue to €910.2 million, but recurring EBITDA increased by 13% to €137 million, with a margin improvement of 240 basis points to 15.1% [37][38]. Order Intake and Backlog - Adjusted order intake for H1 2025 was €2,653.8 million, with a backlog of €18,036.3 million, reflecting a book-to-bill ratio of 0.7 [18][19]. - Decarbonization projects accounted for approximately 40% of order intake, amounting to over €5 billion [3][5]. Strategic Outlook - The company is well-positioned for future growth, with a commercial pipeline offering opportunities in traditional and emerging markets, particularly in LNG and sustainable fuels [3][5]. - Full-year guidance for the TPS segment's EBITDA margin has been raised to a range of 14% - 14.5% [5][9]. Operational Highlights - Technip Energies was awarded a major contract for the Blue Point Number One ATR project in the US, which will be the world's largest low-carbon ammonia production facility [41][36]. - Key operational milestones include advancements in various projects across Qatar, Oman, and the UAE, indicating strong execution capabilities [28][30][31].