French engineering company Technip Energies said it has achieved double-digit revenue growth over the prior year, as reported in its financial results for the first nine months of 2021.
Technip Energies holds strong positions in LNG, hydrogen, and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry, and CO2 management.
Its four-pillar strategy includes LNG, decarbonization, sustainable chemistry, and carbon-free energy solutions
As seen in its document showing financial results for the first nine months of 2021, the company achieved revenue growth of 11 per cent year over year. The adjusted revenue results amount to €4.9 million ($5.7 million) compared to €4.5 million ($5.2 million) in 2020.
In addition, CEO Arnaud Pieton commented on the nine-month 2021 results and fiscal year 2021 outlook.
He said that, despite the ongoing logistical and pandemic challenges, the company reached notable milestones. For example, the first module deliveries on Arctic LNG2 were completed.
“Overall, we achieved double-digit revenue growth over the prior year, while delivering resilient margins and robust free cash flows,” Pieton added.
Orders in the third quarter consisted mostly of services and studies, notably in the decarbonization domain.
Furthermore, Pieton said Technip Energies witnessed growing customer confidence to sanction projects, which should drive continued momentum in 2022.
“In the third quarter, we established several strategic partnerships to develop intellectual property for low-carbon solutions and to drive Energy Transition in key regions for the company. These will deliver business opportunities in the coming years.”
Key operational milestones in Q3 2021
- Arctic LNG 2 Project in Russia;
- Bapco Refinery expansion in Bahrain;
- Contruction progress for Eni Coral Sul FLNG in Mozambique;
- Offshore mooring pre-laying campaign completed in September;
- MIDOR refinery expansion project in Egypt.
- Successful completion of Overall Refinery Shutdown Works.
Key commercial highlights include a contract for India’s Largest PEM Based Hydrogen Project.
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