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Technip Energies Financial Results for the First Nine Months of 2025
TECHNIP ENERGIES 9M 2025 FINANCIAL RESULTS
A strong company for the long-term
Paris, Thursday, October 30, 2025. Technip Energies (the “ Company ”), a global technology & engineering powerhouse leading in energy and decarbonization infrastructure, today announces its unaudited financial results for the first nine months of 2025.
Arnaud Pieton, Chief Executive Officer of Technip Energies, commented:
“I am pleased to report that Technip Energies (T.EN) has delivered a solid financial performance for the first nine months of 2025. We achieved year-over-year revenue growth of 9%, maintaining strong profitability, and significantly increased free cash flow generation. These results reflect our disciplined execution, the strength of our asset-light business model and the commitment of our teams worldwide. Based on these results, we confirm our full year guidance.”
“We are extending our global leadership in LNG and modularization. Notably, we have been awarded another major LNG contract in the US - Commonwealth LNG - which leverages our modular SnapLNG by T.EN™ solution, as well as a contract to perform preliminary activities on the Coral Norte floating LNG unit in Mozambique. Although the full value of these awards is not yet reflected in our order book, once confirmed, they will contribute significantly to the Company’s backlog.”
“Our robust operating model, which combines complementary shorter-cycle activities with the longer-term certainty of major projects, enables T.EN to navigate the current environment effectively. Moreover, the global megatrends underpinning economic growth continue to create opportunities across the energy sector, not only in traditional markets but also in areas such as decarbonization and sustainable fuels. T.EN benefits from a diverse, high quality portfolio of technologies and solutions, equipping us to support any energy scenario.”
“Consistent wi th our strategy to enhance our Technology, Products & Services segment, in September we announced the acquisition of Ecovyst’s Advanced Materials & Catalysts (AM&C) business. The transaction strengthens our capabilities across the catalyst value chain, secures leading positions in markets offering long-term visibility, and broadens our customer value proposition. Upon completion, the acquisition will be immediately accretive to T.EN’s financial profile, delivering cash flow benefits and improved quality of earnings. We look forward to welcoming the AM&C team as we continue to build a more integrated and technology-driven portfolio.”
“As we pursue further growth, we remain disciplined in capital allocation and cost management. Supported by our robust balance sheet, we are focused on building for the long-term, investing to enhance our differentiation, and driving value creation for all our stakeholders.”
The transaction is anticipated to close by the first quarter of 2026, subject to customary regulatory approvals and closing conditions.
Key financials – adjusted IFRS
Key financials – IFRS
2025 full company guidance – adjusted IFRS
Conference call information
Technip Energies will host its 9M 2025 results conference call and webcast on Thursday, October 30, 2025 at 13:00 CET. Dial-in details:
France: +33 1 70 91 87 04
United Kingdom: +44 121 281 8004
United States: +1 718 7058796
Conference Code: 880901
The event will be webcast simultaneously and can be accessed at: T.EN 9M 2025 Results Webcast
Contacts
Investor Relations
Phillip Lindsay
Vice President, Investor Relations
Tel: +44 20 7585 5051
Email: investor.relations@ten.com
Media Relations
Jason Hyonne
Manager, Press Relations & Social Media
Tel: +33 1 47 78 22 89
Email: media_@ten.com
Operational and financial review
Order intake, backlog and backlog scheduling
Adjusted order intake for 9M 2025 amounted to €3,362 million, equivalent to a book-to-bill of 0.6.
Adjusted order intake announced during the third quarter of 2025 included a major contract for Commonwealth LNG export facility in the United States, a large contract to perform preliminary activities for the Coral Norte FLNG unit in Mozambique, two significant FEED contracts for INPEX Abadi LNG project, two services contracts for first-of-a-kind waste-to-methanol Ecoplanta project in Spain, as well as other studies, services contracts and smaller projects.
For reference, commercial highlights for the first half of 2025 are included here: T.EN H1 2025 financial results.
A “major” award for Technip Energies is a contract award representing above €1 billion of revenue. This award is pending Final Investment Decision (FID) and will therefore not be included in Technip Energies’ backlog until full notice to proceed is received.
A “large” award for Technip Energies is a contract award representing between €250 million and €500 million of revenue.
This large award covers preliminary activities only; additional order intake is expected to be booked upon full contract award.
Including the impact of foreign exchange, adjusted backlog decreased by 14% to €16.8 billion compared to December 31, 2024, equivalent to 2.4x FY 2024 adjusted revenue.
The table below provides estimated backlog scheduling as of September 30, 2025.
Company financial performance
Adjusted statement of income
Business highlights
Project Delivery – adjusted IFRS
9M 2025 Adjusted revenue increased by 16% year-over-year to €4,067.4 million, benefiting from activity growth within the LNG project portfolio and the ramp-up of the GranMorgu offshore project.
9M 2025 Adjusted recurring EBITDA increased by 11% year-over-year to €324.0 million and 9M 2025 Adjusted recurring EBIT increased by 9% year-over-year to €280.6 million.
9M 2025 Adjusted recurring EBITDA margin decreased year-over-year by 30 bps to 8.0% and Adjusted recurring EBIT margin decreased year-over-year by 50 bps to 6.9%. After a period of strong order intake in 2023 and 2024, the margins reflect a re-balancing in the project portfolio, with a larger share of early-stage projects with limited margin contribution.
Q3 2025 Key operational milestones
QatarEnergy North Field Expansion (Qatar)
QatarEnergy North Field South (Qatar)
Marsa LNG (Oman)
Assiut Hydrocracking Complex (Egypt)
Bapco Refinery Expansion (Bahrain)
Borouge IV Ethylene project (UAE)
Q3 2025 Key commercial and strategic highlights
Technip Energies awarded major contract for Commonwealth LNG export facility in the United States
A “major” award for Technip Energies is a contract award representing above €1 billion of revenue. This award is pending Final Investment Decision (FID) and will therefore not be included in Technip Energies’ backlog until full notice to proceed is received.
Technip Energies awarded a large contract for the Coral Norte Floating Liquefied Natural Gas (FLNG) project in Mozambique for Eni
A “large” award for Technip Energies is a contract award representing between €250 million and €500 million of revenue.
This large award covers preliminary activities only; additional order intake is expected to be booked upon full contract award.
Technip Energies Awarded FEED Contracts for INPEX Abadi LNG Project in Indonesia
Technology, Products & Services (TPS) – adjusted IFRS
9M 2025 Adjusted revenue decreased year-over-year by 9% to €1,349.7 million, resulting from reduced proprietary equipment contribution in energy derivatives projects, partially offset by strong volumes in consultancy, engineering services and studies, and ramp-up of activity on carbon capture proprietary products. Revenue was also adversely impacted by foreign exchange movements.
9M 2025 Adjusted recurring EBITDA increased year-over-year by 6% to €200.3 million and Adjusted recurring EBIT increased year-over-year by 9% to €151.0 million.
9M 2025 Adjusted recurring EBITDA margin increased by 200 bps to 14.8% and Adjusted recurring EBIT margin increased by 180 bps to 11.2% benefiting from delivery milestones on proprietary products, catalyst supply, and Project Management Consultancy (PMC).
Q3 2025 Key ope rational milestones
Northern Lights (Norway)
bp Net Zero Teesside Power Project (UK)
Carbon Centric Rakkestad (Norway)
GALP Green Hydrogen Unit (Portugal)
GALP HVO Unit (Portugal)
Q3 2025 Key commercial and strategic highlights
Technip Energies to acquire Ecovyst’s Advanced Materials & Catalysts business
Advanced Materials & Catalysts, with a total revenue of US$223 million and an EBITDA margin of ~25% for 2024, brings more than 40 years of expertise in the chemicals and downstream sectors. It has three manufacturing facilities in the US and Europe, and 330 employees. The transaction is anticipated to close by the first quarter of 2026, pending customary regulatory approvals and closing conditions.
The transaction is anticipated to close by the first quarter of 2026, subject to customary regulatory approvals and closing conditions.
AM&C segment EBITDA of US$57 million for 2024, adjusted for standalone operating costs and employee stock compensation.
Technip Energies awarded two services contracts for first-of-a-kind waste-to-methanol Ecoplanta project in Spain
Technip Energies and Anellotech launch commercialization of Plas-TCat
Q3 2025 Other key commercial and strategic highlights
Reju and Circle-8 Textile Ecosystems Partner to Further Large-Scale Textile Recycling in the U.K
Corporate and other items
Corporate costs, excluding non-recurring items, were €46.3 million for the first nine months of 2025, and included the impact of the share price increase and supplemental French social charges on long-term incentive plans that notably affected the first half of 2025.
Non-recurring expense amounted to €49.4 million and includes costs incurred relating to investment in adjacent business models, notably for Reju, in addition to strategic initiatives, including merger & acquisition activity, and restructuring costs.
Net financial income of €70.5 million benefited from interest income generated from cash and cash equivalents, partially offset by the cost of debt, lease expenses and pension costs.
Effective tax rate on an adjusted IFRS basis was 29.8% for the first nine months of 2025, consistent with the upper-end of the 2025 guidance range of 26%-30%.
Depreciation and amortization expense was €92.7 million, of which €58.7 million is related to IFRS 16.
Gross cash at September 30, 2025 was €4.1 billion, which compares to €4.1 billion at December 31, 2024. Gross debt was €0.8 billion at September 30, 2025, which is consistent with the position at December 31, 2024.
Adjusted free cash flow was €463.2 million for the first nine months of 2025. Adjusted free cash flow, excluding the working capital and provisions variance of €47.3 million, was €415.9 million, benefiting from strong operational performance and consistently high conversion from Adjusted recurring EBITDA of 87% (conversion from Adjusted recurring EBIT was 108%). Free cash flow is stated after capital expenditures of €59.5 million. Adjusted operating cash flow was €522.7 million.
Liquidity
Adjusted liquidity of €4.8 billion at September 30, 2025 comprised of €4.1 billion of cash and €750 million of liquidity provided by the Company’s undrawn revolving credit facility.
Forward-looking statements
This press release contains forward-looking statements that reflect Technip Energies’ (the “ Company ”) intentions, beliefs or current expectations and projections about the Company’s future results of operations, anticipated revenues, earnings, cashflows, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Company operates. Forward-looking statements are often identified by the words “believe”, “expect”, “anticipate”, “plan”, “intend”, “foresee”, “should”, “would”, “could”, “may”, “estimate”, “outlook”, and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on the Company’s current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on the Company. While the Company believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting the Company will be those that the Company anticipates.
All of the Company’s forward-looking statements involve risks and uncertainties, some of which are significant or beyond the Company’s control, and assumptions that could cause actual results to differ materially from the Company’s historical experience and the Company’s present expectations or projections. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements.
For information regarding known material factors that could cause actual results to differ from projected results, please see the Company’s risk factors set forth in the Company’s 2024 Annual Financial Report filed on March 10, 2025, with the Dutch Autoriteit Financiële Markten (AFM) and the French Autorité des Marchés Financiers (AMF) and in the Company’s 2025 Half-Year Report filed on July 31, 2025 with the AFM and the AMF, which include a discussion of factors that could affect the Company’s future performance and the markets in which the Company operates.
Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. The Company undertakes no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law.
APPENDIX
APPENDIX 1.0: ADJUSTED STATEMENT OF INCOME - FIRST NINE MONTHS 2025
APPENDIX 1.1: ADJUSTED STATEMENT OF INCOME - THIRD QUARTER 2025
APPENDIX 1.2: STATEMENT OF INCOME - RECONCILIATION BETWEEN IFRS AND ADJUSTED - FIRST NINE MONTHS 2025
APPENDIX 1.3: STATEMENT OF INCOME - RECONCILIATION BETWEEN IFRS AND ADJUSTED - FIRST NINE MONTHS 2024
APPENDIX 1.4: STATEMENT OF INCOME - RECONCILIATION BETWEEN IFRS AND ADJUSTED - THIRD QUARTER 2025
APPENDIX 1.5: STATEMENT OF INCOME - RECONCILIATION BETWEEN IFRS AND ADJUSTED - THIRD QUARTER 2024
APPENDIX 2.0: ADJUSTED STATEMENT OF FINANCIAL POSITION
APPENDIX 2.1: STATEMENT OF FINANCIAL POSITION - RECONCILIATION BETWEEN IFRS AND ADJUSTED - FIRST NINE MONTHS 2025
APPENDIX 2.2: STATEMENT OF FINANCIAL POSITION - RECONCILIATION BETWEEN IFRS AND ADJUSTED - FIRST NINE MONTHS 2024
APPENDIX 3.0: ADJUSTED STATEMENT OF CASH FLOWS
APPENDIX 3.1: STATEMENT OF CASH FLOWS - RECONCILIATION BETWEEN IFRS AND ADJUSTED - FIRST NINE MONTHS 2025
APPENDIX 3.2: STATEMENT OF CASH FLOWS - RECONCILIATION BETWEEN IFRS AND ADJUSTED - FIRST NINE MONTHS 2024
APPENDIX 4.0: ADJUSTED ALTERNATIVE PERFORMANCE MEASURES - FIRST NINE MONTHS 2025
APPENDIX 4.1: ADJUSTED ALTERNATIVE PERFORMANCE MEASURES - THIRD QUARTER 2025
APPENDIX 5.0: ADJUSTED RECURRING EBIT AND EBITDA RECONCILIATION - FIRST NINE MONTHS 2025
APPENDIX 5.1: ADJUSTED RECURRING EBIT AND EBITDA RECONCILIATION - THIRD QUARTER 2025
APPENDIX 6.0: BACKLOG - RECONCILIATION BETWEEN IFRS AND ADJUSTED
APPENDIX 7.0: ORDER INTAKE - RECONCILIATION BETWEEN IFRS AND ADJUSTED
APPENDIX 8.0: Definition of Alternative Performance Measures (APMs)
Certain parts of this Press Release contain the following non-IFRS financial measures: Adjusted Revenue, Adjusted Recurring EBIT, Adjusted Recurring EBITDA, Adjusted net (debt) cash, Adjusted Backlog, and Adjusted Order Intake, which are not recognized as measures of financial performance or liquidity under IFRS and which the Company considers to be APMs. APMs should not be considered an alternative to, or more meaningful than, the equivalent measures as determined in accordance with IFRS or as an indicator of the Company’s operating performance or liquidity.
Each of the APMs is defined below:
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Contacts
Investor Relations
Phillip Lindsay
Vice President, Investor Relations
Tel: +44 20 7585 5051
Email: investor.relations@ten.com
Media Relations
Jason Hyonne
Manager, Press Relations & Social Media
Tel: +33 1 47 78 22 89
Email: media_@ten.com
Attachment
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