Technip Down on Restructure Charge

Paris-based subsea major Technip has slipped into the red in the second quarter as the company booked one-off restructuring charges on market adjusting plans, announced earlier in June.

Namely, on July 6, Technip announced the launch of a restructuring plan with a total one-off charge of €650 million. Of this total, €570 million was booked in the second quarter.

Technips’ net income for the second quarter was a negative €306.9 million ($336.7 million), after one-off charges, compared with a profit of 158 million euros in the year-ago period.

In the second quarter of 2015, Technip as a group generated 18% growth in adjusted revenue to €3.1 billion compared with €2.6 billion the previous year.

As for the company’s subsea division, revenue grew 26%, and adjusted operating income from recurring activities of €250 million demonstrated a robust operating margin of 16.1%.

Furthermore, Technip’s vessel utilization rate for the quarter was 89%, compared with 88% in the corresponding period in 2014, and up on the 68% in the first quarter of 2015. In addition, the flexible lay vessel, Sunrise 2000 in Brazil was demobilized and left the Technip fleet.

Share this article

Follow Subsea World News


<< Feb 2020 >>
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 1


The Offshore Technology Conference (OTC) is where energy professionals meet to exchange ideas and opinions to advance…

read more >

Oceanology International 2020

Exhibitors from industry, government and research institutions share their knowledge and come…

read more >


The Offshore Technology Conference Asia (OTC Asia) is where energy professionals meet to exchange…

read more >

Shallow and Deepwater Mexico Exhibition and Conference

Shallow and Deepwater Mexico, an offshore oil and gas exhibition and conference is the key center for the international offshore oil and gas community in Mexico. 

read more >