Technip Energies N.V.

Latest Results (20.11.2025):

Technip Energies N.V. — H1 2025: The company reported a strong first half of 2025 with adjusted revenue up 15% year‑on‑year to €3,646.4m and adjusted recurring EBITDA up 13% to €319.0m. Profitability was broadly stable, net profit attributable to the group was €191.0m (diluted EPS €1.07 adjusted; IFRS EPS €1.06), cash conversion was robust and management raised TPS margin guidance for 2025.

Headline results

Adjusted revenue €3,646.4m (+15% vs H1 2024); adjusted recurring EBITDA €319.0m (+13% vs H1 2024); adjusted recurring EBIT €257.4m (+13%). IFRS revenue was €3,600.7m and IFRS net profit €189.3m for H1 2025.

Profitability & margins

Adjusted recurring EBITDA margin was 8.7% (vs 8.9% in H1 2024). Recurring EBIT margin 7.1% (vs 7.2%). TPS segment margin strength underpinned management’s margin upgrade.

Cash flow

Free cash flow excluding working capital was €322m, described as roughly 100% conversion from EBITDA, highlighting strong cash generation in the period.

Orders, backlog and book‑to‑bill

Adjusted order intake for H1 2025 was €2,653.8m (book‑to‑bill 0.7), down versus the strong prior year quarter. Adjusted backlog at June 30, 2025 was €18,036.3m (including FX headwind of €667.4m), equivalent to ~2.6x FY 2024 adjusted revenue.

Major contract award

Won a major (>€1bn) contract for Blue Point Number One ATR — billed as the world’s largest low‑carbon ammonia production facility in the US (~1.4m tpa capacity) — alongside significant awards including work in Qatar.

2025 guidance update

Updated full‑year guidance: Project Delivery revenue €5.2–5.6bn with ~8% EBITDA margin; Technology, Products & Services revenue €1.8–2.2bn with EBITDA margin upgraded to 14.0%–14.5% (prior ~13.5%). Corporate costs €50–60m; effective tax 26–30%.

Segment performance

Project Delivery revenue €2,736.2m (+24% YoY) with recurring EBITDA €214.7m; TPS contributed to margin improvement via product installations and technology sales, supporting the margin upgrade and strategic focus on proprietary offerings.

Strategic positioning & outlook

Management emphasizes diversification: decarbonization accounted for ~40% of order intake over the past 18 months (~€5bn+), with ~70% of orders sourced outside the Middle East. Company remains confident in pipeline opportunities (LNG, blue molecules, sustainable fuels) over the next 6–18 months.