France's Technip Q2 net profit grows 19.4%, sales up 18.1%

25 July 2013 08:44  [Source: ICIS news]

SINGAPORE (ICIS)--France’s petrochemicals engineering firm Technip reported on Thursday a 19.4% year-on-year increase in its second-quarter net income to €162.4m ($214m) amid strong revenue growth across its core business segments.

Its overall revenue was up by 18.1% year on year at €2.42bn in the second quarter of this year, while operating income rose by 18.5% to €242.0 m, the company said in a statement.

The firm’s subsea and onshore/offshore segments saw their second-quarter 2013 revenues rise by 12.4% and 23.3% year on year, respectively, to €1.1bn and €1.32bn.

For the first six months of this year, the company’s net income rose by 12.2% year on year to €278.6m, with revenue up by 16.3% at €4.44bn.

“Technip's second quarter results enable us to maintain our 2013 full year revenue and profit objectives,” said Thierry Pilenko, chairman and CEO of Technip.

For 2013, the company expects its groupwide revenue to grow by 11-16% to between €9.1bn and €9.5bn.

($1 = €0.76)

By: Nurluqman Suratman

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