The following is a summary of the Technip Energies N.V. (THNPY) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Technip Energies Q1 adjusted earnings amounted to €1.5 billion, a 5% rise YoY with an adjusted recurring EBIT margin of 7.3%.

• Noted a solid financial performance with an adjusted diluted EPS of €0.50 per share, marking an 11% YoY increase.

• They achieved over 100% free cash conversion from EBIT excluding working capital, resulting in €119 million free cash flow.

• The period end backlog increased by 27% YoY to €15.3 billion.

• Estimation of a $200 million DOE funding for a potential collaboration with LanzaTech in the U.S.

Business Progress:

• Three major projects have been awarded including Ruwais LNG in Abu Dhabi, a BP project in U.K. and Marsa LNG in Oman.

• They have prioritized net-zero solutions in strategic markets and innovation initiatives, particularly in carbon capture, cement production, gas-fired power, and energy from waste sectors.

• A joint venture with SBM Offshore, EkWil, is formed to foster progress in the floating offshore wind sector.

• Emphasis is laid on differentiation through carbon capture, sequestration and utilization technology.

• R&D is a key focus as investments in the future, with particular attention to carbon capture technology improvements and optimization of hydrogen production costs.

• Achieving double-digit EBIT margin by 2025 for TPS is targeted.

• Attained €620 million of order intake in Q1 2024 with an expectation of exceeding a book-to-bill rate of one for 2024.

• Envisaged opportunities in alcohol to jet pathway technology in the U.S. and U.K. as part of their commercial pipeline development.

More details: TECHNIP ENERGIES N.V SPON ADR EACH REP 1 ORD SHS IR

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