Technip Energies (TE) Q4 2024 earnings summary

Executive summary

• Achieved record 2024 financial performance with 14% revenue growth to €6.9bn, highest ever EBITDA, EBIT, and EPS, and strong commercial success across diversified markets and geographies.

• Order intake exceeded €10bn for the second consecutive year, driving backlog to €19.6bn (+24% y/y), providing nearly three years of revenue visibility.

• Proposed a 49% increase in annual dividend to €0.85/share and completed €100m share buyback, reflecting confidence in future growth and robust financial position.

• Major contract wins included Net Zero Teesside Power (UK) and GrandMorgu FPSO (Suriname), reinforcing leadership in decarbonization and LNG.

• Sustainability efforts advanced, with a 41% reduction in Scope 1 and 2 emissions since 2021 and increased diversity and training initiatives.

Financial highlights

• Revenues rose 14% year-over-year to €6.85bn, exceeding upgraded guidance; recurring EBITDA up 13% to €608m; EPS up 33% to €2.16 per share.

• Adjusted net profit rose 22% to €409m; free cash flow (excl. working capital) was €519m, total FCF €748m, with 85% cash conversion from EBITDA.

• Gross cash at year-end was €4.1bn; net cash above €1.4bn; adjusted liquidity €4.7bn.

• Adjusted order intake reached €10bn, maintaining a book-to-bill ratio of 1.5.

• Backlog grew 24% year-over-year to €19.6bn.

Outlook and guidance

• 2025 guidance: Project Delivery revenues €5–5.4bn, EBITDA margin ~8%; TPS revenues €2–2.2bn, EBITDA margin 13.5%.

• 2028 framework: Project Delivery revenues >€6bn, EBITDA margin ~8.5%; TPS revenues >€2.6bn, EBITDA margin 14.5%.

• Cumulative free cash flow of €2.2–2.6bn expected between 2024–2028.

• Effective tax rate expected at 26–30%; corporate costs €50–60m; R&D spend ~€70m.

• Market outlook supported by rising global energy demand, LNG growth, decarbonization, and a commercial pipeline exceeding €75bn through 2026.