Technip Energies: share hit as 2021 guidance revised

(CercleFinance.com) - 9m 2021 adjusted revenues increased by 11% to 4.
0 billion euros, representing "The continued activity increase on Arctic LNG 2, combined with the ramp-up of recently awarded LNG projects, more than offset lower contributions from maturing downstream and petrochemical projects in the Americas, Middle East and India," the group said.

Adjusted recurrent EBIT for the first nine months of 2021 increased by 9% to 254.7 million euros. Meanwhile, its adjusted recurrent EBIT margin slipped 10 basis points to 6.4%. Meanwhile, net profit came in at 159.7 million euros, up 9% from the 146.3 million euros it posted last year.

Adjusted order intake for the first nine months of 2021 amounted to 8,404.1 million euros (Q3 2021: 540.6 million euros), resulting in a backlog renewal ratio of 1.7.

Investors are clearly unimpressed by these announcements: the share is currently down almost 5% in Paris.


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