Technip Energies (TE) investor relations material

Executive summary

• Q1 2026 revenue was €1.8bn, down 4% year-over-year, with recurring EBITDA of €149m, reflecting resilience amid Middle East conflict and FX headwinds.

• Free cash flow conversion from EBITDA was robust at 89%, despite operational challenges.

• Order intake exceeded €6bn, driving backlog to a record high of €20.2bn, providing strong visibility for future growth.

• No project cancellations or suspensions; all sites are nearing full mobilization, with robust contracts and cost recovery mitigating margin impacts.

• Strategic focus on energy security, decarbonization, and circularity, with significant project wins and technology initiatives.

Financial highlights

• Adjusted revenues were €1.8bn, down 4% year-over-year; recurring EBITDA was €149m, down 8%.

• Diluted EPS was €0.48, down from €0.56 in Q1 2025, impacted by lower EBITDA and increased non-recurring items.

• Free cash flow (excluding working capital/provisions) reached €132m; gross cash position at €4.2bn, highest since inception.

• Order intake was €6bn, up sharply from €0.7bn in Q1 2025.

• Adjusted gross margin was 11.2%, down from 13.5% in Q1 2025.

Outlook and guidance

• 2026 guidance assumes Middle East normalization by end-Q2 2026; guidance is conditional on geopolitical normalization and absence of secondary impacts.

• Project Delivery revenue expected at €5.7–6.3bn (prior: €6.3–6.7bn), EBITDA margin 6.5–7.5% (prior ~8%).

• Technology, Products & Services revenue guidance widened to €1.9–2.2bn, EBITDA margin ~14.5%.

• Effective tax rate expected at 26–30%; corporate costs €50–60m.

• €500–600m in revenue deferred beyond 2026 due to project delays.