France's Technip Q2 2012 net income rises 1.3% to €134.2m

26 July 2012 08:27  [Source: ICIS news]

SINGAPORE (ICIS)--Technip’s second-quarter net profit rose 1.3% year on year to €134.2m ($163.7m) as the company’s order intake rose, the French engineering firm said on Thursday.

Revenue for the quarter increased by 23.3% year on year to €2.05bn, while earnings before interest, taxes, depreciation, and amortisation (EBITDA) grew by 19.4% to €253.8m, the company said in a statement.

The company's overall EBITDA margins, however, slightly fell to 12.4% in the second quarter from 12.8% recorded in the same period of the previous year, the company added.

The firm’s overall order intake rose to €2.52bn in the second quarter of this year, from €2.09bn in the same period a year earlier.

“Technip's second quarter revenue and profit were fully in line with our objectives,” said Thierry Pilenko, chairman and CEO of Technip.

For the first half of 2012, the company’s net profit rose by 4.1% year on year to €246.4m, with sales up by 23.1% year on year at €3.82m.

“Looking ahead, we continue to see strong bidding activity in nearly all our markets, with no impact as yet from either the lower market price of oil or economic issues affecting Europe,” Pilenko added.


By: Joey Lau

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