Nine Months 2024 Technip Energies NV Earnings Call Transcript
Key Points
- Technip Energies NV (THNPF) reported robust revenue growth of 13% year-on-year, driven by strong project delivery and strategic initiatives.
- The company upgraded its 2024 revenue guidance by 5% at the midpoint, indicating a new range of EUR 6.5 billion to EUR 6.8 billion.
- EPS grew by 35%, benefiting from increased revenues and higher financial income.
- Technip Energies NV (THNPF) secured significant projects, including a major LNG export terminal in the US and a green ammonia plant in India, enhancing its backlog for 2025 and beyond.
- The completion of a share buyback program and planned cancellation of treasury shares returned over EUR 170 million to shareholders, demonstrating a commitment to shareholder returns.
- The adjusted order intake of EUR 4.8 billion in the first nine months was below expectations, tracking in line with revenues.
- The company's effective tax rate increased to a range of 29% to 33% due to changes in earnings mix and potential French tax impacts.
- Non-recurring expenses rose to EUR 60 million, attributed to development projects and new business ventures, impacting overall profitability.
- The TPS segment experienced a 7% year-to-date backlog decline due to the absence of significant awards in Q3.
- Concerns were raised about potential delays in LNG projects due to a forecasted supply glut around 2028, which could impact future project timelines.
Good afternoon. This is the conference operator. Welcome and thank you for joining the Technip Energies' first nine month 2024 results conference call. (Operator Instructions)
At this time, I would like to turn the conference over to Mr. Philip Lindsay VP and Head of Investor Relations of Technip Energies. Please go ahead, sir.
Thank you, Judith. Hello and welcome to Technip Energies financial results for the first nine months of 2024. On the call today, our CEO Arnaud Pieton will provide an overview of our nine month performance and business highlights. This will be followed by CFO Bruno Vibert who will share more details on our financial results. Then Arnaud will come back to conclude.
We then open for questions before we start, I would encourage you to take note of the forward-looking statements on slide 2. I will now pass the call over to Arno.
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