Bloomberg News

Technip Sees 2012 Margin in Line With Previous Years, CEO Says

November 23, 2012

Technip SA (TEC), Europe’s second-largest oilfield-services provider, expects a 2012 margin in line with past years and sales of about 8 billion euros ($10.4 billion).

“The perspectives are good,” Chief Executive Officer Thierry Pilenko said today at an investor conference. “This year was robust with good profitability.”

This year’s margin will be around 10 percent, in line with previous years, he said.

Technip reported last month a 21 percent increase in third- quarter profit and raised targets for the full year after oil companies pushed ahead with projects.

Technip said it’s seeking revenue “toward” 8 billion euros and a subsea operating margin of around 15 percent and a margin for onshore-offshore of 6.5 percent to 7 percent.

Europe’s largest oilfield-services provider is Italy’s Saipem SpA. (SPM)

To contact the reporter on this story: Tara Patel in Paris at tpatel2@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net


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