Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on TECHNIP SA. We currently have 12 research reports from 2 professional analysts.
|05Dec16 06:30||PRN||Technip and FMC Technologies Shareholders Approve Business Combination|
|24Nov16 02:24||PRN||Technip and FMC Technologies Announce Designees to Board of Directors of Combined Company|
|24Nov16 12:00||PRN||FMC Technologies and Technip Announce Designees to Board of Directors of Combined Company|
|23Nov16 07:04||PRN||Technip and FMC Technologies Announce EU Antitrust Clearance|
|25Oct16 09:30||PRN||Technip and FMC Technologies Combination: FMC Technologies and Technip to Each Hold Shareholders Meetings to Approve Combination on December 5, 2016|
|27Jun16 01:30||PRN||FMC Technologies and Technip Announce Successful Early Conclusion of U.S. Antitrust Review|
|16Jun16 09:05||PRN||Execution of Business Combination Agreement|
Frequency of research reports
Research reports on
Strong Q3 and upbeat outlook for 2017
27 Oct 16
Q3 results: order intake stood at €1.5bn, o/w €0.5bn in Subsea and €1.0bn in Onshore/Offshore. The backlog stood at €12.3bn (€17.5bn in Q3 15). The adjusted revenue came in at €2.9bn (-6% yoy), above consensus estimates. The operating profit was €285m (-3% yoy), beating consensus. The underlying net income was €203m (+10% yoy), also above consensus. Cost-cutting: €900m to be delivered in 2016, in line with previous guidance; the total programme is €1.0bn. The guidance 2016 on Subsea has been increased: - Subsea: adjusted revenues €5.0bn (vs. €4.7-5.0bn; consensus: €5.1bn), operating income at around €700m (vs. €680m; consensus at €692m); - Onshore/Offshore: adjusted revenues €5.7-6.0bn, a confirmation (consensus: €5.8bn), and operating income at €280m, in line with consensus. The outlook for 2017 has been released for the first time: - Subsea: roughly stable adjusted margins (consensus expected slightly lower), lower adjusted revenues; - Onshore/Offshore: higher adjusted profit and margins (consensus: lower profit and stable margins), slightly lower revenues.
Time to turn positive on Oil Services
20 Sep 16
Technip Guidance for 2016 is EUR 960 Mln of Ebit (EUR 680 in Subsea + EUR 280 Mln in On/Off-Shore) to compare with EUR 1’069 Mln in 2015. Company expects World Oil Production to be similar in 2017 from 2016, decreasing from 2018 over 2019-2021 period Subsea Ebit Margin reached 14.6% in Q2 2016 while On/Off-Shore Ebit Margin was 5% - Technip Order Book was EUR 13.5 Bln by end of H1 2016 (from EUR 17.5 Bln at end of 2015 and EUR 21 Bln at end of 2014 !). Order Intake was EUR +2.5 Bln in H1 2016 Cost-Cutting current plan is EUR -1.1 Bln to be shared EUR -900 Mln in 2016 and EUR -200 Mln in 2017 (-7’000 people to leave Company over 2016-2017 period). Initial Plan was for EUR -600 Mln in 2016 and EUR -130 Mln in 2017 - Capex will be down to EUR 220 Mln this year (from EUR 300 Mln in 2015)
Operating income 2016 raised to higher end of range
28 Jul 16
Q2 results: order intake was €1.5bn, o/w €0.9bn in Subsea and €0.6bn in Onshore/Offshore. The backlog stood at €13.5bn (€18.8bn in Q2 15). The adjusted revenue came in at €2.8bn (-9% yoy), broadly in line with consensus estimates. The operating profit came in at €260m (-8% yoy), beating consensus. The underlying net income was €175m (-4% yoy), also above consensus (although the reported figure was slightly below). Cost-cutting: €900m to be delivered in 2016 (vs. previous guidance of €700m; the total programme is €1.0bn). The guidance on operating income 2016 has been increased: - Subsea: adjusted revenues €4.7-5.0bn (consensus: €5.1bn), operating income at around €680m (vs. €640-680m previously; consensus: €672m); - Onshore/Offshore: adjusted revenues €5.7-6.0bn (consensus: €5.8bn), operating income at €280m (vs. €240-280 previously; consensus: €264m).
TechnipFMC: a new Subsea champion
19 May 16
Technip and FMC Technologies have signed a MoU on an all-stock merger. Key points: - Combined revenue in 2015 of $20bn, EBITDA of $2.4bn, backlog $20bn (o/w 56% in Subsea); - Combined mkt cap of $13bn (based on pre-announcement prices); - Cost synergies: c. $200m in 2018 and at least $400m cost savings since 2019 (3% of the combined cost structure), with implementation costs of $250m; - Technip’s shareholders will receive two shares for each of Technip’s, FMC’s will receive one for one. The boards of both groups have approved the transaction (unanimously). The merger should close in early 2017, subject to shareholders’ (of both) approval and regulatory authorisations. TechnipFMC will be domiciled in the UK.
Guidance 2016 confirmed; fully valued
28 Apr 16
Q1 results: order intake was €0.9bn, o/w €0.45bn in Subsea and €0.48bn in Onshore/Offshore. The backlog was €15.0bn (€20.6bn in Q1 15). The adjusted revenue came in at €2.8bn (-4% yoy), beating consensus estimates. The adj. operating income from recurring activities was €237m (+38% yoy, vs. €196m expected by consensus). The underlying net income was also above expectations, at €145m (+35% yoy, vs. consensus €122m). Guidance 2016 confirmed: - Subsea: adjusted revenues €4.7-5.0bn (consensus: €4.9bn), operating income at €640-680m (consensus: €655m); - Onshore/Offshore: adjusted revenues €5.7-6.0bn (consensus: €5.6bn), operating income at €240-280m (consensus: €252m).
30 Nov 16
Abzena (ABZA): Interim results indicate happy customers (BUY) | Horizonte Minerals* (HZM): Fund raise completed (CORP) | SacOil* (SAC): Half-year trading statement (CORP) | Revolution Bars (RBG): New openings (BUY) | Amino Technologies* (AMO): Multi operator FUSION roll out (CORP)
Small Cap Breakfast
29 Nov 16
Asia Pacific Investment Partner - the research-driven emerging and frontier markets real estate development business intends to float on AIM and conduct a placing in December RM Secured Direct Lending - The secured direct lending fund intends to float on the Main Market on 15 December raising up to £100m Diversified Oil & Gas— Schedule One now out. $60m to be raised. Expected admission 6 December. Creo Medical Group —UK based medical device company focused on surgical endoscopy, a recent development in minimally invasive surgery. Admission due 7 December. Fundraising details TBA.
GTL transaction not going ahead
01 Dec 16
Intelligent Energy (IEH) has announced that the deal to acquire the Energy Management Business of GTL will not now be consummated. The move leaves management free to concentrate on driving sales of commercially ready B2B products, which is a key element of its strategy. We adjust our FY17e revenue estimate while leaving our pre-exceptional losses and cash-flow forecasts unchanged.
01 Nov 16
Since our last outlook note, Quadrise has begun to supply MSAR for extended LONO sea trials, paving the way for commercial adoption from calendar H217 onwards. In August it signed a memorandum of understanding with clients in the Kingdom of Saudi Arabia (KSA), which is a key enabler for progressing the production-to-combustion pilot there. In October it completed a placing and open offer raising a total of £5.25m (gross). This should enable it to transition comfortably to the commercial phase on successful completion of the LONO and KSA trials.
24 Nov 16
Quixant* (QXT): Gaming gains (CORP) | SCISYS* (SSY): Bringing good news from Germany (CORP) | Hayward Tyler Group*: Contract wins (CORP) | Sound Energy (SOU): TE-7 flow rate and fund raise (BUY) | Water Intelligence* (WATR): Growth and improving returns in a defensive market (CORP) | Imaginatik* (IMTK): Interim trading update (CORP)