Technip Energies (TE) Q1 2025 earnings summary

Executive summary

• Q1 2025 delivered 22% revenue growth to €1.9bn and 19% EBITDA growth to €162m, driven by strong order intake and execution focus.

• Backlog reached a record €18.2bn, providing multi-year revenue visibility, with a commercial pipeline exceeding €70bn across geographies and markets.

• Major contract awarded in the US for the world's largest low-carbon ammonia plant (Blue Point Number One), supporting commercial momentum in decarbonization and circularity.

• 2025 group guidance confirmed, with Project Delivery revenue guidance raised and TPS revenue range widened due to macro uncertainty.

• Strategic initiatives and efficiency programs target €100m annualized cost savings beyond 2028.

Financial highlights

• Q1 revenues: €1.9bn (+22% YoY); recurring EBITDA: €162m (+19% YoY); EBITDA margin: 8.7% (down 30 bps YoY); net profit: €101m (+13% YoY).

• Diluted EPS: €0.56 (+12% YoY); free cash flow: €179m; free cash conversion from EBITDA above 100%.

• Gross cash: €4.0bn; gross debt: €0.7bn, with over 87% long-term; net contract liability: €3.1bn.

• Capex for Q1: €19m; adjusted order intake: €662.7m; adjusted backlog: €18.2bn.

Outlook and guidance

• 2025 group guidance reaffirmed; Project Delivery revenue guidance raised to €5.2–5.6bn, TPS revenue range widened to €1.8–2.2bn.

• EBITDA margin guidance unchanged: ~8% for Project Delivery, ~13.5% for TPS.

• Free cash flow conversion expected at 70–85% for the year, likely at the upper end.

• Effective tax rate expected at 26–30%; corporate costs €50–60m; R&D spend ~€70m.