The following is a summary of the Technip Energies N.V. (THNPY) Full Year 2023 Results Earnings Call Transcript:
Financial Performance:
Technip Energies reported an adjusted recurring EBIT of €445 million and free cash flow excluding working capital was over €540 million.
EPS declined by 9% YoY while adjusted order intake increased significantly to over €10 billion with backlog increasing by 23% to €15.7 billion.
Growth was seen in the Technology, Products and Services sector with revenue increasing by 38% YoY and EBIT improving by 43%.
R&D spending rose 24% to €62 million aligning with the company's strategy of enhancing its net-zero portfolio.
For 2024, an EBIT margin within the range of 7-7.5% is expected along with planned double-digit EPS growth and a share buyback program of up to €100 million.
Business Progress:
-The company demonstrated progress both in traditional markets such as LNG and ethylene, and in emerging net-zero markets.
In line with their strategic objectives, they've maintained leadership in LNG and grown the TPS sector while innovating products for emerging industries.
Technip made headway towards their 2030 net-zero targets, reducing emissions by 28%.
In 2024, they aim to maintain their strategy focusing on disruptive innovation, accelerating digital transformation and forming strategic partnerships.
Over 90 projects were won in the carbon capture (CCU) sector with potential for increased adoption of their carbon capture technology, CANSOLV.
They are predicting significant growth in revenue from carbon capture solutions, estimating an intake of €1 billion of orders if a Final Investment Decision is made in 2024.
More details: TECHNIP ENERGIES N.V SPON ADR EACH REP 1 ORD SHS IR
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