Home / Knowledge / News / Textiles / Technip Q1 financials in line with expectations – CEO
Technip Q1 financials in line with expectations – CEO
26
Apr '14
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. 
 
First Quarter 2014 Results 
-Order intake of €2.8 billion including major Subsea awards such as Block 15/06 in 
Angola 
-Revenue of €2.5 billion 
-Operating margins
-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 
 
Objectives Unchanged For 2014 And 2015 
-2014 Subsea revenue growing to between €4.35 and €4.75 billion with operating margin of at least 12% 
-2014 Onshore/Offshore revenue growing to between €5.4 and €5.7 billion with operating margin between 6% and 7% 
 
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. 
 
In Subsea, we started commercial production at our new flexible pipe facility in Açu, Brazil. We continued to complete the series of projects in the Gulf of Mexico and ramp-up activity on newer, large projects worldwide. In Onshore/Offshore, we handed some older projects over to clients and also started an intensive period of critical execution phases on newer projects which will continue over the next several quarters.”
 
Click here to view full results.
 

Technip

Must ReadView All

Textiles | On 19th Jan 2017

Pakistan imposes duty on Indian fine cotton yarn

A provisional countervailing duty ranging from Rs 26.89 to Rs 55.8 a...

Textiles | On 19th Jan 2017

Union Budget: Textile sector expects excise duty revisions

Excise duty on man-made fibres should be reduced to bring it on par...

Union textiles minister Smriti Irani at the inauguration of IIGF in New Delhi with textiles secretary Rashmi Verma and other dignitaries. Courtesy: PIB

Apparel/Garments | On 19th Jan 2017

Ministry to reimburse apparel exporters for state levies

The textile ministry has received a sum of Rs 500 crore from the...

Interviews View All

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search