Technip Energies: 78% jump in 2020 adjusted earnings
(CercleFinance.com) - Technip Energies has reported adjusted net income that is up 78% at 220 million euros, with an adjusted recurrent EBIT margin that is down 120 basis points at 5.
9%, which it says is "due to the anticipated decline in contribution from projects in the completion phase"
At 6.01 billion euros, adjusted revenue increased by 9%, "demonstrating the strength of the business model and robust project execution despite a challenging environment", the energy transition engineering group said.
For FY 2021, Technip Energies confirms that it expects an adjusted recurring EBIT margin of between 5.5% and 6% (excluding one-off separation cost of 30 million euros) and adjusted revenues of 6.5 to 7 billion euros.
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9%, which it says is "due to the anticipated decline in contribution from projects in the completion phase"
At 6.01 billion euros, adjusted revenue increased by 9%, "demonstrating the strength of the business model and robust project execution despite a challenging environment", the energy transition engineering group said.
For FY 2021, Technip Energies confirms that it expects an adjusted recurring EBIT margin of between 5.5% and 6% (excluding one-off separation cost of 30 million euros) and adjusted revenues of 6.5 to 7 billion euros.
Copyright (c) 2021 CercleFinance.com. All rights reserved.