Technip Energies Reports Exceptional Financial Growth in 2024
Technip Energies Unveils Impressive FY 2024 Financial Results
Remarkable Performance Highlights:
- Year-over-year revenue growth of 14%; FY 2024 revenue hit €6.9 billion, surpassing guidance of €6.5 - 6.8 billion.
- Recurring EBITDA rose by 13% to €608 million, with diluted earnings per share increasing by 33% to €2.16.
- Order intake exceeded €10 billion for the second consecutive year, with a backlog of nearly €20 billion indicating strong future revenue visibility.
- Based on this robust performance, a proposed 49% dividend increase to €0.85 per share has been made.
As a leader in energy and decarbonization infrastructure, Technip Energies reported its financial results, affirming a strong commitment to sustainable growth and innovation. CEO Arnaud Pieton stated:
"2024 marked a year of significant commercial success, with major contracts awarded and substantial order intake across markets such as LNG and decarbonized power generation. Our increasing backlog ensures solid revenue visibility and strengthens our earnings trajectory."
Financial Overview
For FY 2024, Technip Energies showcased impressive financial metrics:
| Financial Metric | FY 2024 (in € millions) | FY 2023 (in € millions) |
|---|---|---|
| Revenue | 6,854.8 | 6,014.7 |
| Recurring EBITDA | 608.0 | 540.4 |
| Recurring EBIT | 495.8 | 445.1 |
| Net Profit | 390.3 | 294.1 |
| Diluted Earnings per Share | €2.16 | €1.63 |
Strategic Growth and Future Goals
Technip Energies is poised to capitalize on the positive momentum established in 2024, with an ambitious growth plan that includes diversification of its service offerings and expansion into new segments. The focus remains on:
- Strengthening their core project delivery capabilities while enhancing the Technology, Products, and Services segment.
- Investing in sustainable and innovative solutions aimed at supporting the energy transition.
- Expanding into markets that emphasize decarbonization and renewable energy projects, particularly in North America.
Commitment to Sustainability
Technip Energies emphasizes a sustainable business strategy, aiming for net-zero emissions for Scope 1 and 2 by 2030 and Scope 3 by 2050. The company has already achieved a 41% reduction in Scope 1 and 2 emissions compared to 2021 and is continuously innovating to enhance their operational efficiency.
Shareholder Engagement and Returns
The company aims to maintain a disciplined capital allocation strategy, prioritizing shareholder returns through sustainable dividend payouts and investments in lucrative projects. The board of directors will propose a dividend of €0.85 per share, strengthening investor confidence in long-term growth prospects.
Contact Information
Investor Relations Contact:
Phillip Lindsay
Vice President, Investor Relations
Tel: +44 20 7585 5051
Email: Phillip Lindsay
Media Relations Contact:
Jason Hyonne
Manager, Press Relations & Social Media
Tel: +33 1 47 78 22 89
Email: Jason Hyonne
Frequently Asked Questions
What was Technip Energies' revenue growth in FY 2024?
Technip Energies achieved a revenue growth of 14%, amounting to €6.9 billion.
How has the company's net profit changed in FY 2024?
The net profit rose significantly to €390.3 million, up from €294.1 million in FY 2023.
What is the proposed dividend for shareholders?
The board has proposed a dividend increase of 49%, bringing it to €0.85 per share.
What sustainability targets has Technip Energies set?
Technip Energies is targeting net-zero emissions for Scope 1 and 2 by 2030 and Scope 3 by 2050.
How does Technip Energies plan to utilize its strong backlog?
The company plans to leverage its strong backlog of nearly €20 billion to ensure multi-year revenue visibility and drive its strategic growth initiatives.
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