Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on TECHNIP SA. We currently have 13 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|
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TechnipFMC: completion of merger on 16 January 2017
22 Dec 16
The High Court of Justice of England and Wales has approved the merger between Technip and TechnipFMC. FMC Technologies and a subsidiary of TechnipFMC will merge immediately after the merger between Technip and TechnipFMC on 16 January 2017.
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.
GMP FirstEnergy ― UK Energy morning research package
06 Dec 16
Transglobe Energy (TGL CN); BUY, C$5.25: Homeward bound… back to Canada | Great Eastern Energy Corporation (GEEC LN) (not covered): Reserves update in India | BP (BP LN) (not covered): Acquiring interest in Tangguh in Indonesia | Exillon Energy (EXI LN) (not covered): Production update in Russia | Genel Energy (GENL LN); SPECULATIVE BUY, £2.60: Receipt of payment for Taq Taq export in Kurdistan | ExxonMobil (XOM US) (not covered): Relinquishing blocks in Kurdistan
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
16 Jan 17
We take a look at the rankings of the various countries in Africa that have a significant exposure to mining. We take the Transparency International corruption rankings as our starting point and modify these for exceptional geology and for current UK government travel warnings. Ghana, Botswana and Namibia come out as our top three, with Eritrea, Kenya and Zimbabwe at the bottom of our rankings.
The Monthly January 2017
09 Jan 17
Despite all the hullaballoo of the Brexit vote and the subsequent election of Donald Trump as the next US President, the UK stock market prospered last year, especially in the latter few months of 2016. The combination of a depreciating currency – making $ earnings more valuable in relative terms - and the Trump emphasis on infrastructure expenditure drove the stock market higher
Small Cap Breakfast
17 Jan 17
Global Energy Development (GED.L) — To be renamed Nautilus Marine Services. Schedule 1 from developer and seller of hydrocarbons and related products. Reverse takeover. Raising $10.5m via a convertible. Expected 9 Feb. Eco (Atlantic) Oil & Gas—TSX-V listed oil and gas exploration has announced its intention to float on AIM. Assets in Guyana and Namibia. Proposed £2m-£3m fundraise. Diversified Gas & Oil—According to LSE website first day of trading on AIM now expected for 30 January.