Technip Energies 9M 2026 Financial Results
TECHNIP ENERGIES 9M 2026 FINANCIAL RESULTS
Managing the near-term; Strengthening long-term fundamentals
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Paris, Thursday, October 29, 2026. Technip Energies (the “Company”), a global technology & engineering powerhouse leading in energy and decarbonization infrastructure, today announces its unaudited financial results for the first nine months of 2026.
Arnaud Pieton, Chief Executive Officer of Technip Energies, commented:
“Technip Energies’ (T.EN) performance in the first nine months demonstrates the resilience of our execution model amid prolonged disruption to the operating environment in the Middle East. We delivered year-over-year revenue growth through disciplined execution and close coordination with our customers. As anticipated, profitability recovered from the second quarter low and we achieved our highest-ever quarterly EBITDA in the third quarter. We confirm our full-year guidance.”
“That resilience is most evident in our response to the Strait of Hormuz crisis. Our teams have adapted quickly, deploying alternative logistical solutions that have allowed us to operate safely and keep our projects moving forward. Our operational progress is also translating into solid cash generation.”
"Importantly, we have strengthened the foundations for sustainable growth, with year-to-date order intake of more than €14 billion and a significantly expanded backlog. Project Delivery orders have been particularly robust and diversified across end markets and geographies, supporting a strong growth trajectory in the coming years. Technology, Products & Services (TPS) is also seeing renewed commercial momentum, particularly across ethylene, hydrogen and fertilizers.”
“This commercial strength validates our strategy of pursuing selective growth in Project Delivery, while enriching our TPS portfolio and increasing its contribution over time. In parallel, we are advancing adjacent business models through Reju, focused on the regeneration of post-consumer textile waste, and Rebound, for sustainable aviation fuels, to further enhance the quality and durability of our earnings.”
“The developments in the Middle East reinforce the need for a more secure, diversified and resilient energy system. At the same time, the imperative to reduce emissions remains. Together, these trends will drive investment in both traditional and low-carbon infrastructure, aligning directly to T.EN’s capabilities and expanding our global opportunity set.”
“With reinforced business and market fundamentals, we are on track to generate annual EBITDA of more than €800 million by 2028. Technip Energies is operating from a position of strength, with a near-record backlog underpinning multi-year visibility, a material net cash position supporting capital allocation flexibility, and a clear strategy for long-term value creation.”
Key financials – adjusted IFRS
| (In € millions, except EPS and %) | 9M 2026 | 9M 2025 |
| Revenue | 5,596.7 | 5,417.1 |
| Recurring EBITDA | 384.7 | 478.0 |
| Recurring EBITDA margin % | 6.9% | 8.8% |
| Recurring EBIT | 276.4 | 385.3 |
| Recurring EBIT margin % | 4.9% | 7.1% |
| Net profit | 184.8 | 281.9 |
| Diluted earnings per share(1) | €1.04 | €1.58 |
| Order intake | 14,128.3 | 3,361.8 |
| Backlog | 24,506.8 | 16,764.0 |
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Financial information is presented under adjusted IFRS (see Appendix 8.0 for complete definition). Reconciliation of IFRS to non-IFRS financial measures are provided in appendices. 1 9M 2026 and 9M 2025 diluted earnings per share have been calculated using the weighted average number of outstanding shares of 178,227,306 and 178,599,654 respectively. | ||
Key financials – IFRS
| (In € millions, except EPS) | 9M 2026 | 9M 2025 |
| Revenue | 5,760.0 | 5,367.3 |
| Net profit | 185.9 | 278.9 |
| Diluted earnings per share(1) | €1.04 | €1.56 |
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1 9M 2026 and 9M 2025 diluted earnings per share have been calculated using the weighted average number of outstanding shares of 178,227,306 and 178,599,654 respectively. | ||
Conditional 2026 segment guidance – adjusted IFRS
| Project Delivery | Technology, Products & Services | |
| Revenue | €5.7 - 6.3 billion | €1.9 - 2.2 billion |
| EBITDA margin | >5.0% | ~15% |
| Corporate costs (1) | €65 - 75 million | |
| Effective tax rate(1) | 30 - 32% | |
| Adjacent business model investment(2) | <€50 million | |
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Financial information is presented under adjusted IFRS (see Appendix 8.0 for complete definition). Reconciliation of IFRS to non-IFRS financial measures are provided in appendices. Assumptions: current operating conditions persist throughout the remainder of the year. 1 Corporate costs have increased specifically due to the impact of “ESOP 2026”, the Company’s Employee Share Offering, announced on April 13, 2026. The expected cost (non-cash) associated with ESOP 2026 is ~€16m. Effective tax rate has increased, primarily reflecting unfavorable earnings mix, including negative taxable results in lower-tax jurisdictions for which deferred tax assets could not be fully recognized. 2 As part of its capital allocation framework for long-term value creation, the Company may invest in adjacent business models including Build Own Operate (BOO) and co-development. Since Q3 2024, these investment costs are recorded as non-recurring items. | ||
Conference call information
Technip Energies will host its 9M 2026 results conference call and webcast on Thursday, October 29, 2026 at 13:00 CET. Details:
France: +33 1 70 91 87 04
United Kingdom: +44 121 281 8004
United States: +1 718 7058796
Conference Code: 880901
The event will be webcast simultaneously and can be accessed at: T.EN 9M 2026 Results Webcast
Contacts
Investor Relations
Phillip Lindsay
Vice President, Investor Relations
Tel: +44 20 7585 5051
Email: investor.relations@ten.com
Media Relations
Jason Hyonne
Manager, Press Relations & Social Media
Tel: +33 1 47 78 22 89
Email: media_@ten.com
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About Technip Energies Technip Energies is a global technology and engineering powerhouse. With leadership positions in LNG, hydrogen, ethylene, sustainable chemistry, and CO2 management, we are contributing to the development of critical markets such as energy, energy derivatives, decarbonization, and circularity. Our complementary business segments, Technology, Products and Services (TPS) and Project Delivery, turn innovation into scalable and industrial reality. Through collaboration and excellence in execution, our 18,000+ employees across 35 countries are fully committed to bridging prosperity with sustainability for a world designed to last. Technip Energies generated revenues of €7.2 billion in 2025 and is listed on Euronext Paris. The Company also has American Depositary Receipts trading over the counter. For further information: www.ten.com. |
Operational and financial review
Order intake, backlog and backlog scheduling
Adjusted order intake for 9M 2026 amounted to €14,128 million, equivalent to a book-to-bill of 2.5.
Adjusted order intake announced during the third quarter of 2026 included engineering and technology contracts by Petkim for the development of a proposed integrated petrochemical complex in Türkiye, a significant1 contract by Larsen & Toubro Energy Hydrocarbon (LTEH) to provide detailed engineering services for a major ADNOC Offshore project in the United Arab Emirates, a large2 EPC contract by HPCL for the Mumbai refinery modernization project in India, as well as other studies, services contracts and smaller projects.
For reference, commercial highlights for the first half of 2026 are included here: T.EN H1 2026 financial results.
1 A “significant” award for Technip Energies is a contract award representing between €50 million and €250 million of revenue.
2 A “large” award for Technip Energies is a contract award representing between €250 million and €500 million of revenue.
| (In € millions) | 9M 2026 | 9M 2025 |
| Adjusted order intake | 14,128.3 | 3,361.8 |
| Project Delivery | 12,726.4 | 2,217.2 |
| Technology, Products & Services | 1,401.8 | 1,144.6 |
| Reconciliation of IFRS to non-IFRS financial measures are provided in appendices. | ||
Adjusted backlog increased by 54% to €24.5 billion compared to December 31, 2025, equivalent to 3.4x FY 2025 adjusted revenue.
| (In € millions) | 9M 2026 | FY 2025 |
| Adjusted backlog | 24,506.8 | 15,955.4 |
| Project Delivery | 23,001.9 | 14,436.1 |
| Technology, Products & Services | 1,504.9 | 1,519.2 |
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Reconciliation of IFRS to non-IFRS financial measures are provided in appendices. Adjusted backlog at September 30, 2026, has been positively impacted by foreign exchange of €197.4 million. | ||
The table below provides estimated backlog scheduling as of September 30, 2026.
| (In € millions) | 2026 (3M) | FY 2027 | FY 2028+ |
| Adjusted backlog | 2,108.2 | 7,380.0 | 15,018.6 |
| Project Delivery | 1,679.4 | 6,714.7 | 14,607.8 |
| Technology, Products & Services | 428.8 | 665.3 | 410.8 |
Company financial performance
Adjusted statement of income
| (In € millions, except %) | 9M 2026 | 9M 2025 | % Change |
| Adjusted revenue | 5,596.7 | 5,417.1 | 3% |
| Adjusted recurring EBITDA | 384.7 | 478.0 | (20)% |
| Adjusted recurring EBIT | 276.4 | 385.3 | (28)% |
| Impacts of purchase accounting | (18.0) | — | —% |
| Non-recurring items | (47.4) | (49.4) | (4)% |
| EBIT | 211.1 | 335.9 | (37)% |
| Financial income (expense), net | 65.7 | 70.5 | (7)% |
| Profit (loss) before income tax | 276.8 | 406.4 | (32)% |
| Income tax (expense) profit | (87.4) | (121.2) | (28)% |
| Net profit (loss) | 189.4 | 285.2 | (34)% |
| Net profit (loss) attributable to Technip Energies Group | 184.8 | 281.9 | (34)% |
| Net profit (loss) attributable to non-controlling interests | 4.6 | 3.3 | 39% |
Business highlights
Project Delivery – adjusted IFRS
| (In € millions, except % and bps) | 9M 2026 | 9M 2025 | % Change |
| Revenue | 4,212.7 | 4,067.4 | 4% |
| Recurring EBITDA | 218.5 | 324.0 | (33)% |
| Recurring EBITDA margin % | 5.2% | 8.0% | (280) bps |
| Recurring EBIT | 170.9 | 280.6 | (39)% |
| Recurring EBIT margin % | 4.1% | 6.9% | (280) bps |
| Financial information is presented under adjusted IFRS (see Appendix 8.0 for complete definition). | |||
9M 2026 Adjusted revenue increased by 4% year-over-year to €4,212.7 million. Activity growth was achieved on LNG and decarbonization projects in the United States and Europe, while the impact of the Strait of Hormuz crisis was partially mitigated by deployment of alternative logistical solutions. Project Delivery delivered its highest-ever quarterly revenue in Q3 2026.
9M 2026 Adjusted recurring EBITDA decreased by 33% year-over-year to €218.5 million and Adjusted recurring EBITDA margin decreased year-over-year by 280 bps to 5.2%. The lower year-over-year margins reflect the continuation of the Middle East conflict and its associated secondary impacts. This includes 1) as previously disclosed, incremental costs incurred for logistics, safety and business continuity measures across Middle East projects. While cost recovery is expected through strong contractual protection, the exact extent and timing is dependent upon the evolution of the conflict and the outcome of commercial discussions; and 2) an assessment within the H1 2026 report of certain disputed items that remain subject to ongoing resolution processes and for which T.EN is pursuing its contractual rights. Q3 2026 adjusted recurring EBITDA margin showed a substantial improvement versus Q2 2026 as operating performance normalized.
Q3 2026 Key operational milestones
QatarEnergy North Field South (Qatar)
- Start of electrical pre-commissioning and heavy lift activities.
Ruwais LNG (UAE)
- 20 million manhours worked on Site without LTI.
Coral Norte (Mozambique)
- Successful erection of key turret and mooring components at yard in Malaysia.
NZT Power (UK)
- Major project milestones, including first pipe cut and weld in the UK, and successful gas turbine delivery to Teesside.
SkyNRG DSL-01 (Netherlands)
- SkyNRG launches construction of Europe’s groundbreaking standalone SAF plant.
Commonwealth LNG (USA)
- 100% of major equipment procured. Earthworks activities underway on site.
GranMorgu FPSO (Suriname)
- Successful delivery of the 205-ton Gas Dehydration and Triethylene Glycol (TEG) regeneration module.
Marsa LNG (Oman)
- Start of the heavy-lift campaign and steel structure erection.
Q3 2026 Key commercial and strategic highlights
Technip Energies awarded large1 EPC contract by HPCL for Mumbai refinery modernization project in India
- Technip Energies has been awarded a large1 Engineering, Procurement and Construction (EPC) contract by Hindustan Petroleum Corporation Limited (HPCL) for its Lube Modernization and Bottom Upgradation (LMBU) project at the Mumbai Refinery in Maharashtra, India. The contract covers the delivery of a 550 KTA2 Integrated Hydrocracker and Catalytic Dewaxing (IHCD) unit and an 850 KTA Solvent Deasphalting (SDA) unit. These units form a major part of HPCL’s LMBU project and will be integrated within the operating Mumbai Refinery. The project will modernize HPCL's production of lube oil base stocks, key components used in the manufacture of automotive engine oils and industrial lubricants. It will also upgrade heavier refinery streams into higher-value products, improving resource utilization and supporting the refinery's long-term competitiveness. As India continues to invest in the modernization of its refining infrastructure to meet growing domestic demand for fuels and specialty petroleum products, the project will contribute to strengthening the country's production capabilities while improving the value generated from existing refining assets.
1 A “large” award for Technip Energies is an award representing between €250 million and €500 million of revenue.
2 Kilotonnes per annum.
Technology, Products & Services (TPS) – adjusted IFRS
| (In € millions, except % and bps) | 9M 2026 | 9M 2025 | Change |
| Revenue | 1,384.0 | 1,349.7 | 3% |
| Recurring EBITDA | 216.1 | 200.3 | 8% |
| Recurring EBITDA margin % | 15.6% | 14.8% | 80 bps |
| Recurring EBIT | 155.5 | 151.0 | 3% |
| Recurring EBIT margin % | 11.2% | 11.2% | 0 bps |
| Financial information is presented under adjusted IFRS (see Appendix 8.0 for complete definition). | |||
9M 2026 Adjusted revenue increased year-over-year by 3% to €1,384.0 million. This reflects good activity in the assembly of CO2 capture proprietary equipment, and strong volumes in consultancy and engineering services work, as well as contribution from AM&C. This more than offset reduced ethylene furnace activity.
9M 2026 Adjusted recurring EBITDA increased year-over-year to €216.1 million and Adjusted recurring EBIT increased by 3% year-over-year to €155.5 million.
Adjusted recurring EBITDA margin for 9M 2026 increased by 80 bps to 15.6%, with Q3 2026 recording the segment’s highest-ever quarterly margin at 16.1%. Adjusted recurring EBIT margin was stable year-over-year. Adjusted recurring EBITDA margin expansion benefited from proprietary product delivery milestones, consulting services, and the AM&C contribution. Comparatively, other factors driving the Adjusted recurring EBIT margin performance relate to the inclusion of AM&C, specifically the higher depreciation & amortization expense, and higher research & development expenditures.
Q3 2026 Key operational milestones
Numaligarh refinery (India)
- 30 million workhours without LTI.
Electric loading arms (France)
- World first: T.EN Loading Systems installs the first fully electric loading arm for Fluxel SAS.
Genting FLNG (Indonesia)
- Upstream FLNG: Hull and topside engineering completed; module installation on the FLNG hull achieved, with integration activities underway.
Q3 2026 Key commercial and strategic highlights
Technip Energies selected by L&T for a significant1 engineering services contract for ADNOC Offshore in the UAE
- Technip Energies has been awarded a significant1 contract by Larsen & Toubro Energy Hydrocarbon (LTEH) to provide detailed engineering services for a major ADNOC Offshore project in the United Arab Emirates. The project, recently awarded by ADNOC Offshore to a consortium led by LTEH, covers the engineering, procurement, construction, installation and commissioning (EPCIC) of new offshore facilities, together with modifications and upgrades to existing infrastructure. Under the contract, which strengthens Technip Energies’ position in high-end engineering services, the company will draw on its strong local engineering capabilities and extensive experience with complex, large-scale offshore projects in the Middle East. The award also builds on the long-standing collaboration between Technip Energies and Larsen & Toubro (L&T) across a broad range of upstream, downstream and energy infrastructure projects worldwide.
1A “significant” award for Technip Energies is a contract award representing between €50 million and €250 million of revenue.
Technip Energies awarded engineering and technology contracts by Petkim for the development of a proposed integrated petrochemical complex in Türkiye
- Technip Energies has been awarded contracts by Petkim, a subsidiary of SOCAR, in connection with the development of a proposed integrated petrochemical complex in Aliağa, Türkiye. The contracts include the license for a world-scale mixed-feed ethylene cracking unit, as well as the integrated Process Design Package (PDP) and Front-End Engineering Design (FEED) services for the overall complex. The FEED scope covers the steam cracker designed with an ethylene production capacity of approximately 1,200 KTA1 and a propylene production capacity of 550 KTA, together with an 850 KTA HDPE/LLDPE complex (two 425 KTA trains) and a 550 KTA polypropylene plant integrated with the new cracker. The awarded scope covers the licensing, PDP and FEED phases of the proposed project and constitutes an important step in its technical development prior to any Final Investment Decision (FID) by PETKIM. The planned integrated petrochemical complex is intended to produce key petrochemical building blocks used to manufacture a wide range of everyday products, including packaging materials, consumer goods, automotive components and industrial applications.
1 Kilotons per annum
Technip Energies and EDF sign strategic framework agreement to support delivery of the EPR2 program
- Technip Energies and EDF have signed a strategic framework agreement, to support execution, construction management, and delivery of EDF’s nuclear new-build program - EPR2. Under this non-exclusive agreement, Technip Energies will deploy experienced personnel into key operational roles within EDF, particularly in project and construction management process, as part of integrated teams working alongside EDF’s personnel. With this model, EDF will draw on Technip Energies’ proven expertise in the delivery of major complex industrial and energy projects to help strengthen execution discipline and improve schedule predictability across all EDF’s nuclear new-build activities. The agreement establishes a common foundation for long-term cooperation, enabling both companies to combine complementary capabilities and capitalize on lessons learned from large-scale industrial projects in support of EDF’s future nuclear developments.
Technip Energies announce strategic Licensing Collaboration Agreement with SABIC for CTR® LDPE Technology
- Technip Energies and SABIC have entered into an exclusive Licensing Collaboration Agreement (LCA) under which Technip Energies will act as the worldwide licensor of SABIC’s well-established Low-Density Polyethylene (LDPE) Clean Tubular Reactor (CTR®) technology. This agreement expands the long-standing cooperation between the two companies and combines SABIC’s industry-leading technology with Technip Energies’ extensive experience in Polyolefins. Technip Energies has supported the CTR® technology since 1996, contributing to basic design, engineering, construction and start-up activities, building deep operational and execution expertise.
Technip Energies selected by Transition Industries LLC for Project Management Consulting services on major ultra-low-carbon Methanol Project in Mexico
- Technip Energies has been selected by Transition Industries to provide Project Management Consultancy (PMC) services for the Pacifico Mexinol project in Mexico, one of the world’s largest ultra-low-carbon chemical production facilities. The facility, located in Sinaloa, is expected to produce around 1.8 million tonnes of blue methanol per year, supporting growing demand for lower-carbon chemicals. This contract highlights Technip Energies’ project management, technical and execution capabilities, while reinforcing its long-standing relationship with Transition Industries and its presence in the Americas.
Technip Energies awarded enhanced Project Management Consulting (ePMC) Contract for AMIGO LNG Project in Mexico
- Technip Energies has been awarded an enhanced Project Management Consultancy (ePMC) contract by LNG Alliance for the AMIGO LNG project in Guaymas, Mexico, where it will act as the key technical, integration and project management partner. The scope covers a 6 million tonnes per annum (MTPA) LNG facility comprising two floating process barges, associated marine infrastructure and export facilities, with T.EN providing overall oversight of project execution and integration. The award marks Technip Energies’ first project with LNG Alliance and its second global ePMC contract supporting the development of a floating LNG (FLNG) facility.
Q3 2026 Other key highlights
Technip Energies launches SnapLNG™ 1.5 with Honeywell Technologies and Siemens Energy for faster, more predictable LNG project delivery
- Technip Energies announced SnapLNG™ 1.5, a standardized, fully modular and electrified LNG solution enabled by Honeywell Technologies and Siemens Energy. Built around a 1.5 million-tonne-per-annum (MTPA) train, the solution is designed to help developers bring LNG capacity online faster, improve execution certainty and reduce operational emissions. As LNG demand is expected to grow significantly over the coming decade, more than 200 MTPA of new LNG capacity could be required by 2035, creating a substantial opportunity for project developers. The United States is expected to account for approximately 50% of global LNG market growth, reinforcing the need for solutions that can accelerate project delivery while reducing complexity, improving reliability and supporting lower-carbon operations. SnapLNG™ 1.5 addresses these challenges through a standardized and replicable design tailored to the growing small-to-mid-scale LNG market. Commercialized by Technip Energies, SnapLNG™ 1.5 combines Technip Energies' LNG project execution expertise, modularization capabilities and digital project delivery approach with Honeywell Technologies’ proven gas pretreatment, liquefaction and automation technologies and Siemens Energy's electrified turbomachinery and compression solutions. Designed around a standardized 1.5 MTPA train that can be replicated for larger developments, SnapLNG™ 1.5 leverages extensive offsite fabrication and electric motor-driven liquefaction technology to reduce development complexity, shorten project schedules by up to two years and enhance operational performance.
Reju Opens First U.S. Research & Development Center in Conshohocken, Pennsylvania
- Reju, the textile-to-textile materials regeneration company, announced the opening of its first dedicated North American R&D Center in Conshohocken, Pennsylvania. Located within Technip Energies’ Advanced Materials and Catalysts research facility, the center will accelerate the deployment of Reju’s recycling technologies and support the development of next-generation circular solutions. The R&D Center marks the relocation of Reju's core research team from IBM’s Almaden Research Center in San Jose, California, where Reju's Volcat depolymerization technology, a catalytic chemical recycling method breaking down polyester into reusable raw materials, was first developed. The facility will be focused on the full development spectrum, from early-stage feasibility through to kilo-scale production. It will span polyester recycling, mixed-fabric solutions, and new circular chemistry pathways, enabling rapid iteration and accelerating Reju's path from concept to industrial reality. The new R&D center will support the development and validation of technologies intended for deployment across Reju's future Regeneration Hubs. By locating the facility within Technip Energies’ existing research infrastructure, Reju will benefit from direct access to decades of Technip Energies’ expertise in catalysis, process development, technology integration and industrial scale-up. The establishment of the R&D Center is a component of Reju's broader strategy to build a closed-loop recycling ecosystem that converts discarded fabric and textiles back into quality products. The center joins Reju's growing global infrastructure, including their first textile-to-textile facility Regeneration Hub Zero in Frankfurt, Germany and future Regeneration Hubs that have been announced in Sittard (Netherlands), Lacq (France), and Rochester, New York (USA).
Corporate and other items - adjusted IFRS
Corporate costs, excluding non-recurring items, were €49.9 million for the first nine months of 2026 and included costs associated with the employee share offering (“ESOP 2026”). The non-cash expense of ESOP 2026 is €16 million.
Impacts of purchase accounting. The €18.0 million expense primarily reflects incremental depreciation and amortization arising from the 2025 acquisition of AM&C. This results from fair value uplifts applied to property, plant and equipment, the product portfolio, and inventory as part of purchase price allocation. This expense is non-cash and excluded from recurring business performance.
Non-recurring expense amounted to €47.4 million. This includes costs incurred related to investment in adjacent business models, particularly for Reju, and to a lesser extent, the Rebound joint venture, as well as AM&C integration, other strategic initiatives, and restructuring costs.
Net financial income of €65.7 million benefited from interest income generated from cash and cash equivalents, partially offset by the cost of debt, lease expenses and pension costs.
Effective tax rate is 31.6% in the first nine months of 2026, in line with the full-year guidance range of 30%-to-32%. This included negative taxable results in lower-tax jurisdictions for which deferred tax assets could not be fully recognized.
Depreciation and amortization expense was €118.7 million, of which €60.0 million is related to IFRS 16 and €10.4m is arising from the purchase price allocation step-up on AM&C’ tangible and intangible assets.
Gross cash at September 30, 2026 was €5.0 billion, which compares to €3.8 billion at December 31, 2025. Gross debt was €1.4 billion at September 30, 2026, and has increased relative to the position at December 31, 2025 due to an increase in long-term debt associated to the issuance of €500 million aggregate principal amount of 4% unsecured notes due June 10, 2033. This offset the reduction in short-term debt as the Company retired commercial paper towards a more normalized level following the transaction of AM&C in the fourth quarter of 2025.
Free cash flow was €1,058.8 million for the first nine months of 2026. Free cash flow, excluding the working capital and provisions variance of €723.3 million, was €335.5 million, benefiting from consistently high conversion from recurring EBITDA of 87%. Free cash flow is stated after net capital expenditures of €38.2 million. Operating cash flow was €1,097.0 million.
Debt and Liquidity - adjusted IFRS
Liquidity of €5.7 billion at September 30, 2026 comprised of €5.0 billion of cash and €750 million of liquidity provided by the Company’s undrawn Revolving Credit Facility (RCF).
On June 4, 2026, Technip Energies announced it had priced an issuance of €500 million aggregate principal amount of 4% senior unsecured notes due June 10, 2033 (the "Notes"). The offering was more than five times oversubscribed among a broad European investor base. Technip Energies intends to use the net proceeds from the offering of the Notes for general corporate purposes.
IFRS 18-Presentation and Disclosure in Financial Statements: illustrative impact on the first nine months of 2026
IFRS 18 Presentation and Disclosure in Financial Statements will apply to annual reporting periods beginning on or after January 1, 2027. The Group will apply the standard retrospectively and restate its 2026 comparative information accordingly.
IFRS 18 will not affect net income or equity. It will change the structure of the income statement by introducing operating, investing, financing and income tax categories, together with two new required subtotals: operating profit, and profit before financing and income taxes (“PBFT”).
On an illustrative, unaudited Adjusted IFRS basis, applying IFRS 18 to the Group's figures for the first nine months of 2026 would have resulted in operating profit of €212.7 million, compared with an operating profit of €213.7 million as currently reported. The subtotal currently reported as “Profit before financial expenses, net financing and income taxes” will be replaced by “Profit before financing and income taxes”. On the same illustrative basis, PBFT would have been €94.6 million higher than the currently reported amount, mainly because interest income on cash and cash equivalents would be reclassified to investing activities. Net income would have been unchanged.
Adjusted Recurring PBFT & PBFTDA (Profit Before Financing, Tax, Depreciation and Amortization) are expected to qualify as management-defined performance measures under IFRS 18. They will therefore be reconciled in the notes to the financial statements, including disclosure of the income tax and non-controlling interest effects of each reconciling item. These preliminary assessments remain subject to change until the restated 2026 comparative information is published.
| (In Adjusted IFRS, in € millions - unaudited, illustrative) | 9M 26 as reported IAS 1 | Interest income reclassified to investing | FX reclassified in investing | Other reclassifications from financing | 9M 26 IFRS 18 |
| Operating income / Operating profit | 213.7 | — | (1.6) | 0.6 | 212.7 |
| Share of profit (loss) of equity-accounted investees | (2.6) | — | — | — | (2.6) |
| Interest income from cash and cash equivalents | — | 94.5 | — | — | 94.5 |
| Other investing income (expense) | — | — | 1.6 | (0.5) | 1.1 |
| Profit before financial expense, net financing and income taxes / Profit before financing and income taxes | 211.1 | 94.5 | — | 0.1 | 305.7 |
| Income tax (expense) / profit | (87.4) | — | — | — | (87.4) |
| Net profit (loss) | 189.4 | — | — | — | 189.4 |
| Recurring EBITDA / PBFTDA | 384.7 | 94.5 | — | 0.5 | 479.7 |
| Recurring EBIT / PBFT | 276.4 | 94.5 | — | 0.5 | 371.4 |
Forward-looking statements
This press release contains forward-looking statements that reflect Technip Energies’ (the “Company”) intentions, beliefs or current expectations and projections about the Company’s future results of operations, anticipated revenues, earnings, cashflows, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Company operates. Forward-looking statements are often identified by the words “believe”, “expect”, “anticipate”, “plan”, “intend”, “foresee”, “should”, “would”, “could”, “may”, “estimate”, “outlook”, and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on the Company’s current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on the Company. While the Company believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting the Company will be those that the Company anticipates.
All of the Company’s forward-looking statements involve risks and uncertainties, some of which are significant or beyond the Company’s control, and assumptions that could cause actual results to differ materially from the Company’s historical experience and the Company’s present expectations or projections. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements.
For information regarding known material factors that could cause actual results to differ from projected results, please see the Company’s risk factors set forth in the Company’s 2025 Annual Financial Report filed on March 10, 2026, with the Dutch Autoriteit Financiële Markten (AFM) and the French Autorité des Marchés Financiers (AMF) and in the Company’s 2026 Half-Year Report filed on July 30, 2026 with the AFM and the AMF, which include a discussion of factors that could affect the Company’s future performance and the markets in which the Company operates.
Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. The Company undertakes no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law.
APPENDIX
APPENDIX 1.0: ADJUSTED STATEMENT OF INCOME - FIRST NINE MONTHS 2026
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(In € millions) |
Project Delivery |
Technology, Products & Services | Corporate/non allocable | Total | ||||
| 9M 26 | 9M 25 | 9M 26 | 9M 25 | 9M 26 | 9M 25 | 9M 26 | 9M 25 | |
| Adjusted revenue | 4,212.7 | 4,067.4 | 1,384.0 | 1,349.7 | — | — | 5,596.7 | 5,417.1 |
| Adjusted recurring EBITDA | 218.5 | 324.0 | 216.1 | 200.3 | (49.9) | (46.3) | 384.7 | 478.0 |
| Adjusted recurring EBITDA margin % | 5.2% | 8.0% | 15.6% | 14.8% | —% | —% | 6.9% | 8.8% |
| Adjusted amortization and depreciation | (47.6) | (43.4) | (71.1) | (49.3) | — | — | (118.7) | (92.7) |
| Impacts of purchase accounting | 10.4 | 10.4 | — | |||||
| Adjusted recurring EBIT | 170.9 | 280.6 | 155.5 | 151.0 | (49.9) | (46.3) | 276.4 | 385.3 |
| Adjusted recurring EBIT margin % | 4.1% | 6.9% | 11.2% | 11.2% | —% | —% | 4.9% | 7.1% |
| Impacts of purchase accounting | (18.0) | (18.0) | — | |||||
| Non-recurring items (transaction & one-off costs) | (18.0) | (13.4) | (21.7) | (18.9) | (7.7) | (17.1) | (47.4) | (49.4) |
| EBIT | 152.9 | 267.2 | 115.8 | 132.2 | (57.6) | (63.5) | 211.1 | 335.9 |
| Financial income | 100.9 | 94.7 | ||||||
| Financial expense | (35.2) | (24.3) | ||||||
| Profit (loss) before income tax | 276.8 | 406.4 | ||||||
| Income tax (expense) profit | (87.4) | (121.2) | ||||||
| Net profit (loss) | 189.4 | 285.2 | ||||||
| Net profit (loss) attributable to Technip Energies Group | 184.8 | 281.9 | ||||||
| Net profit (loss) attributable to non-controlling interests | 4.6 | 3.3 | ||||||
APPENDIX 1.1: ADJUSTED STATEMENT OF INCOME - THIRD QUARTER 2026
| (In € millions) |
Project Delivery |
Technology, Products & Services | Corporate/non allocable | Total | ||||
| Q3 26 | Q3 25 | Q3 26 | Q3 25 | Q3 26 | Q3 25 | Q3 26 | Q3 25 | |
| Adjusted revenue | 1,448.6 | 1,331.2 | 495.1 | 439.5 | — | — | 1,943.7 | 1,770.7 |
| Adjusted recurring EBITDA | 100.9 | 109.3 | 79.6 | 63.3 | (8.0) | (13.6) | 172.4 | 159.0 |
| Adjusted recurring EBITDA margin % | 7.0% | 8.2% | 16.1% | 14.4% | —% | —% | 8.9% | 9.0% |
| Adjusted amortization and depreciation | (14.3) | (16.2) | (22.9) | (14.9) | — | — | (37.2) | (31.1) |
| Impacts of purchase accounting | 3.7 | 3.7 | — | |||||
| Adjusted recurring EBIT | 86.6 | 93.1 | 60.4 | 48.3 | (8.0) | (13.6) | 139.0 | 127.9 |
| Adjusted recurring EBIT margin % | 6.0% | 7.0% | 12.2% | 11.0% | —% | —% | 7.1% | 7.2% |
| Impacts of purchase accounting | (7.6) | (7.6) | — | |||||
| Non-recurring items (transaction & one-off costs) | (5.3) | (3.8) | (8.3) | (5.2) | (3.3) | (11.9) | (16.9) | (20.8) |
| EBIT | 81.3 | 89.4 | 44.5 | 43.2 | (11.3) | (25.5) | 114.4 | 107.1 |
| Financial income | 40.1 | 25.4 | ||||||
| Financial expense | (15.7) | (6.3) | ||||||
| Profit (loss) before income tax | 138.8 | 126.2 | ||||||
| Income tax (expense) profit | (43.4) | (37.6) | ||||||
| Net profit (loss) | 95.4 | 88.6 | ||||||
| Net profit (loss) attributable to Technip Energies Group | 88.9 | 90.9 | ||||||
| Net profit (loss) attributable to non-controlling interests | 6.5 | (2.3) | ||||||
APPENDIX 1.2: STATEMENT OF INCOME - RECONCILIATION BETWEEN IFRS AND ADJUSTED - FIRST NINE MONTHS 2026
| (In € millions) |
9M 26 IFRS |
Adjustments |
9M 26 Adjusted |
| Revenue | 5,760.0 | (163.3) | 5,596.7 |
| Costs and expenses | |||
| Cost of sales | (5,215.2) | 199.3 | (5,015.9) |
| Selling, general and administrative expense | (284.2) | (11.0) | (295.2) |
| Research and development expense | (43.6) | (4.4) | (48.0) |
| Impairment, restructuring and other expense | (44.0) | — | (44.0) |
| Acquisition and integration costs | (3.4) | — | (3.4) |
| Other operating income (expense), net | 24.2 | (0.6) | 23.6 |
| Operating profit (loss) | 193.8 | 19.9 | 213.7 |
| Share of profit (loss) of equity-accounted investees | 23.4 | (26.0) | (2.6) |
| Profit (loss) before financial income (expense), net and income tax | 217.2 | (6.1) | 211.1 |
| Financial income | 95.4 | 5.5 | 100.9 |
| Financial expense | (33.4) | (1.8) | (35.2) |
| Profit (loss) before income tax | 279.2 | (2.4) | 276.8 |
| Income tax (expense) profit | (88.7) | 1.3 | (87.4) |
| Net profit (loss) | 190.5 | (1.1) | 189.4 |
| Net profit (loss) attributable to Technip Energies Group | 185.9 | (1.1) | 184.8 |
| Net profit (loss) attributable to non-controlling interests | 4.6 | — | 4.6 |
APPENDIX 1.3: STATEMENT OF INCOME - RECONCILIATION BETWEEN IFRS AND ADJUSTED - FIRST NINE MONTHS 2025
| (In € millions) |
9M 25 IFRS |
Adjustments |
9M 25 Adjusted |
| Revenue | 5,367.3 | 49.8 | 5,417.1 |
| Costs and expenses | |||
| Cost of sales | (4,687.8) | 2.3 | (4,685.5) |
| Selling, general and administrative expense | (282.1) | (2.0) | (284.1) |
| Research and development expense | (44.6) | — | (44.6) |
| Impairment, restructuring and other expense | (49.4) | — | (49.4) |
| Other operating income (expense), net | (13.9) | 0.3 | (13.6) |
| Operating profit (loss) | 289.4 | 50.5 | 339.9 |
| Share of profit (loss) of equity-accounted investees | 45.2 | (49.2) | (4.0) |
| Profit (loss) before financial income (expense), net and income tax | 334.6 | 1.3 | 335.9 |
| Financial income | 91.4 | 3.3 | 94.7 |
| Financial expense | (23.4) | (0.9) | (24.3) |
| Profit (loss) before income tax | 402.6 | 3.8 | 406.4 |
| Income tax (expense) profit | (120.3) | (0.9) | (121.2) |
| Net profit (loss) | 282.2 | 3.0 | 285.2 |
| Net profit (loss) attributable to Technip Energies Group | 278.9 | 3.0 | 281.9 |
| Net profit (loss) attributable to non-controlling interests | 3.3 | — | 3.3 |
APPENDIX 1.4: STATEMENT OF INCOME - RECONCILIATION BETWEEN IFRS AND ADJUSTED - THIRD QUARTER 2026
| (In € millions) |
Q3 26 IFRS |
Adjustments |
Q3 26 Adjusted |
| Revenue | 1,935.0 | 8.7 | 1,943.7 |
| Costs and expenses | |||
| Cost of sales | (1,710.5) | 6.6 | (1,703.9) |
| Selling, general and administrative expense | (89.9) | (3.9) | (93.8) |
| Research and development expense | (14.0) | (1.4) | (15.4) |
| Impairment, restructuring and other expense | (16.2) | — | (16.2) |
| Acquisition and integration costs | (0.7) | — | (0.7) |
| Other operating income (expense), net | 4.9 | (3.4) | 1.5 |
| Operating profit (loss) | 108.5 | 6.7 | 115.2 |
| Share of profit (loss) of equity-accounted investees | 9.2 | (10.0) | (0.8) |
| Profit (loss) before financial income (expense), net and income tax | 117.7 | (3.3) | 114.4 |
| Financial income | 37.2 | 2.9 | 40.1 |
| Financial expense | (14.9) | (0.8) | (15.7) |
| Profit (loss) before income tax | 140.0 | (1.2) | 138.8 |
| Income tax (expense) profit | (44.2) | 0.8 | (43.4) |
| Net profit (loss) | 95.8 | (0.4) | 95.4 |
| Net profit (loss) attributable to Technip Energies Group | 89.3 | (0.4) | 88.9 |
| Net profit (loss) attributable to non-controlling interests | 6.5 | — | 6.5 |
APPENDIX 1.5: STATEMENT OF INCOME - RECONCILIATION BETWEEN IFRS AND ADJUSTED - THIRD QUARTER 2025
| (In € millions) |
Q3 25 IFRS |
Adjustments |
Q3 25 Adjusted |
| Revenue | 1,766.6 | 4.1 | 1,770.7 |
| Costs and expenses | |||
| Cost of sales | (1,583.4) | 49.8 | (1,533.6) |
| Selling, general and administrative expense | (87.5) | (0.9) | (88.4) |
| Research and development expense | (16.1) | — | (16.1) |
| Impairment, restructuring and other expense | (20.8) | — | (20.8) |
| Acquisition and integration costs | — | — | — |
| Other operating income (expense), net | (4.1) | 0.5 | (3.6) |
| Operating profit (loss) | 54.8 | 53.4 | 108.2 |
| Share of profit (loss) of equity-accounted investees | 50.8 | (52.0) | (1.2) |
| Profit (loss) before financial income (expense), net and income tax | 105.6 | 1.5 | 107.1 |
| Financial income | 24.7 | 0.7 | 25.4 |
| Financial expense | (5.9) | (0.4) | (6.3) |
| Profit (loss) before income tax | 124.5 | 1.7 | 126.2 |
| Income tax (expense) profit | (37.2) | (0.4) | (37.6) |
| Net profit (loss) | 87.3 | 1.3 | 88.6 |
| Net profit (loss) attributable to Technip Energies Group | 89.6 | 1.3 | 90.9 |
| Net profit (loss) attributable to non-controlling interests | (2.3) | — | (2.3) |
APPENDIX 2.0: ADJUSTED STATEMENT OF FINANCIAL POSITION
| (In € millions) | 9M 26 | FY 25 |
| Goodwill | 2,149.7 | 2,140.1 |
| Intangible assets | 216.0 | 203.6 |
| Property, plant and equipment | 365.2 | 404.8 |
| Right-of-use assets | 236.1 | 221.6 |
| Equity accounted investees | 15.0 | 12.2 |
| Other non-current assets | 377.7 | 345.9 |
| Total non-current assets | 3,359.7 | 3,328.3 |
| Trade receivables | 1,408.7 | 1,407.0 |
| Contract assets | 304.0 | 384.0 |
| Other current assets | 1,055.0 | 972.9 |
| Cash and cash equivalents | 4,957.6 | 3,843.0 |
| Total current assets | 7,725.3 | 6,606.9 |
| Total assets | 11,085.0 | 9,935.1 |
| Total equity | 2,218.0 | 2,268.9 |
| Long-term debt, less current portion | 1,177.3 | 681.9 |
| Lease liabilities | 204.0 | 195.0 |
| Accrued pension and other post-retirement benefits, less current portion | 91.5 | 84.9 |
| Other non-current liabilities | 101.8 | 117.2 |
| Total non-current liabilities | 1,574.6 | 1,079.0 |
| Short-term debt | 227.9 | 333.6 |
| Lease liabilities | 62.4 | 61.7 |
| Accounts payable, trade | 1,590.1 | 1,480.7 |
| Contract liabilities | 4,685.0 | 3,890.5 |
| Other current liabilities | 727.0 | 820.7 |
| Total current liabilities | 7,292.4 | 6,587.2 |
| Total liabilities | 8,867.0 | 7,666.2 |
| Total equity and liabilities | 11,085.0 | 9,935.1 |
APPENDIX 2.1: STATEMENT OF FINANCIAL POSITION - RECONCILIATION BETWEEN IFRS AND ADJUSTED - FIRST NINE MONTHS 2026
| (In € millions) |
9M 26 IFRS |
Adjustments |
9M 26 Adjusted |
| Goodwill | 2,118.2 | 31.5 | 2,149.7 |
| Intangible assets | 195.6 | 20.4 | 216.0 |
| Property, plant and equipment | 277.3 | 87.9 | 365.2 |
| Right-of-use assets | 232.0 | 4.1 | 236.1 |
| Equity accounted investees | 355.7 | (340.7) | 15.0 |
| Other non-current assets | 372.4 | 5.3 | 377.7 |
| Total non-current assets | 3,551.2 | (191.5) | 3,359.7 |
| Trade receivables | 1,373.9 | 34.8 | 1,408.7 |
| Contract assets | 299.2 | 4.8 | 304.0 |
| Other current assets | 953.2 | 101.8 | 1,055.0 |
| Cash and cash equivalents | 4,595.6 | 362.0 | 4,957.6 |
| Total current assets | 7,221.9 | 503.4 | 7,725.3 |
| Total assets | 10,773.1 | 311.9 | 11,085.0 |
| Total equity | 2,219.1 | (1.1) | 2,218.0 |
| Long-term debt, less current portion | 1,175.3 | 2.0 | 1,177.3 |
| Lease liabilities | 200.3 | 3.7 | 204.0 |
| Accrued pension and other post-retirement benefits, less current portion | 90.4 | 1.1 | 91.5 |
| Other non-current liabilities | 234.7 | (132.9) | 101.8 |
| Total non-current liabilities | 1,700.7 | (126.1) | 1,574.6 |
| Short-term debt | 183.1 | 44.8 | 227.9 |
| Lease liabilities | 62.1 | 0.3 | 62.4 |
| Accounts payable, trade | 1,459.5 | 130.6 | 1,590.1 |
| Contract liabilities | 4,430.7 | 254.3 | 4,685.0 |
| Other current liabilities | 717.9 | 9.1 | 727.0 |
| Total current liabilities | 6,853.3 | 439.1 | 7,292.4 |
| Total liabilities | 8,554.0 | 313.0 | 8,867.0 |
| Total equity and liabilities | 10,773.1 | 311.9 | 11,085.0 |
APPENDIX 2.2: STATEMENT OF FINANCIAL POSITION - RECONCILIATION BETWEEN IFRS AND ADJUSTED - FIRST NINE MONTHS 2025
| (In € millions) |
9M 25 IFRS |
Adjustments |
9M 25 Adjusted |
| Goodwill | 2,070.3 | — | 2,070.3 |
| Intangible assets | 150.0 | — | 150.0 |
| Property, plant and equipment | 164.0 | 1.0 | 165.0 |
| Right-of-use assets | 221.8 | 0.4 | 222.2 |
| Equity accounted investees | 114.3 | (101.0) | 13.3 |
| Other non-current assets | 359.2 | (8.6) | 350.6 |
| Total non-current assets | 3,079.6 | (108.2) | 2,971.4 |
| Trade receivables | 1,217.7 | (69.2) | 1,148.5 |
| Contract assets | 400.0 | (0.1) | 399.9 |
| Other current assets | 796.1 | 24.4 | 820.5 |
| Cash and cash equivalents | 3,788.8 | 282.0 | 4,070.8 |
| Total current assets | 6,202.6 | 237.1 | 6,439.7 |
| Total assets | 9,282.2 | 128.9 | 9,411.1 |
| Total equity | 2,248.9 | 3.0 | 2,251.9 |
| Long-term debt, less current portion | 638.1 | 15.9 | 654.0 |
| Lease liabilities | 196.3 | — | 196.3 |
| Accrued pension and other post-retirement benefits, less current portion | 89.2 | 1.0 | 90.2 |
| Other non-current liabilities | 227.0 | (103.7) | 123.3 |
| Total non-current liabilities | 1,150.6 | (86.8) | 1,063.8 |
| Short-term debt | 92.7 | 5.3 | 98.0 |
| Lease liabilities | 63.3 | 0.4 | 63.7 |
| Accounts payable, trade | 1,519.0 | 82.4 | 1,601.4 |
| Contract liabilities | 3,379.9 | 124.4 | 3,504.3 |
| Other current liabilities | 827.7 | 0.3 | 828.0 |
| Total current liabilities | 5,882.6 | 212.8 | 6,095.4 |
| Total liabilities | 7,033.3 | 125.9 | 7,159.2 |
| Total equity and liabilities | 9,282.2 | 128.9 | 9,411.1 |
APPENDIX 3.0: ADJUSTED STATEMENT OF CASH FLOWS
| (In € millions) | 9M 26 | 9M 25 |
| Net profit (loss) | 189.4 | 285.2 |
| Change in working capital and provisions | 723.3 | 47.3 |
| Non-cash items and other | 184.3 | 190.2 |
| Cash provided (required) by operating activities | 1,097.0 | 522.7 |
| Acquisition of intangible and tangible assets | (50.1) | (59.9) |
| Acquisition of financial assets | (18.6) | (22.0) |
| Business combinations, net of cash acquired | 9.6 | — |
| Proceeds from disposal of assets | 11.9 | 0.4 |
| Proceeds from disposals of subsidiaries, net of cash disposed | 1.5 | (0.7) |
| Other | (5.1) | (4.6) |
| Cash provided (required) by investing activities | (50.8) | (86.6) |
| Proceeds from issues of shares | 55.0 | — |
| Net increase (repayment) in long-term, short-term debt and commercial paper | 362.6 | 6.7 |
| Payments for acquisition of treasury shares | (150.0) | (2.2) |
| Share issue and buy-back transactions costs | (1.0) | — |
| Dividends paid to shareholders | (175.8) | (150.2) |
| Payments for the principal portion of lease liabilities | (57.5) | (59.1) |
| Other (of which dividends paid to non-controlling interests) | (15.3) | (17.8) |
| Cash provided (required) by financing activities | 18.0 | (222.5) |
| Effect of changes in foreign exchange rates on cash and cash equivalents | 50.4 | (200.8) |
| (Decrease) Increase in cash and cash equivalents | 1,114.6 | 12.8 |
| Cash and cash equivalents, beginning of period | 3,843.0 | 4,058.0 |
| Cash and cash equivalents, end of period | 4,957.6 | 4,070.8 |
APPENDIX 3.1: STATEMENT OF CASH FLOWS - RECONCILIATION BETWEEN IFRS AND ADJUSTED - FIRST NINE MONTHS 2026
| (In € millions) |
9M 26 IFRS |
Adjustments |
9M 26 Adjusted |
| Net profit (loss) | 190.5 | (1.1) | 189.4 |
| Change in working capital and provisions | 612.5 | 110.8 | 723.3 |
| Non-cash items and other | 171.9 | 12.4 | 184.3 |
| Cash provided (required) by operating activities | 974.8 | 122.1 | 1,097.0 |
| Acquisition of intangible and tangible assets | (47.4) | (2.7) | (50.1) |
| Acquisition of financial assets | (18.6) | — | (18.6) |
| Business combinations, net of cash acquired | 9.6 | — | 9.6 |
| Proceeds from disposal of assets | 11.9 | — | 11.9 |
| Proceeds from disposals of subsidiaries, net of cash disposed | 1.5 | — | 1.5 |
| Other | (14.4) | 9.3 | (5.1) |
| Cash provided (required) by investing activities | (57.4) | 6.6 | (50.8) |
| Proceeds from issues of shares | 55.0 | — | 55.0 |
| Net increase (repayment) in long-term, short-term debt and commercial paper | 329.7 | 32.9 | 362.6 |
| Payments for acquisition of treasury shares | (150.0) | — | (150.0) |
| Share issue and buy-back transactions costs | (1.0) | — | (1.0) |
| Dividends paid to shareholders | (175.8) | — | (175.8) |
| Payments for the principal portion of lease liabilities | (57.0) | (0.5) | (57.5) |
| Other (of which dividends paid to non-controlling interests) | (15.2) | (0.1) | (15.3) |
| Cash provided (required) by financing activities | (14.4) | 32.4 | 18.0 |
| Effect of changes in foreign exchange rates on cash and cash equivalents | 49.1 | 1.3 | 50.4 |
| (Decrease) Increase in cash and cash equivalents | 952.1 | 162.5 | 1,114.6 |
| Cash and cash equivalents, beginning of period | 3,643.5 | 199.5 | 3,843.0 |
| Cash and cash equivalents, end of period | 4,595.6 | 362.0 | 4,957.6 |
APPENDIX 3.2: STATEMENT OF CASH FLOWS - RECONCILIATION BETWEEN IFRS AND ADJUSTED - FIRST NINE MONTHS 2025
| (In € millions) |
9M 25 IFRS |
Adjustments |
9M 25 Adjusted |
| Net profit (loss) | 282.2 | 3.0 | 285.2 |
| Change in working capital and provisions | 3.9 | 43.4 | 47.3 |
| Non-cash items and other | 181.8 | 8.4 | 190.2 |
| Cash provided (required) by operating activities | 467.9 | 54.8 | 522.7 |
| Acquisition of intangible and tangible assets | (59.8) | (0.1) | (59.9) |
| Acquisition of financial assets | (22.0) | — | (22.0) |
| Proceeds from disposal of assets | 0.4 | — | 0.4 |
| Proceeds from disposals of subsidiaries, net of cash disposed | (0.7) | — | (0.7) |
| Other | (4.6) | — | (4.6) |
| Cash provided (required) by investing activities | (86.7) | 0.1 | (86.6) |
| Net increase (repayment) in long-term, short-term debt and commercial paper | (17.1) | 23.8 | 6.7 |
| Payments for acquisition of treasury shares | (2.2) | — | (2.2) |
| Dividends paid to shareholders | (150.2) | — | (150.2) |
| Settlements of mandatorily redeemable financial liability | (0.5) | 0.5 | — |
| Payments for the principal portion of lease liabilities | (58.6) | (0.5) | (59.1) |
| Other (of which dividends paid to non-controlling interests) | (17.8) | — | (17.8) |
| Cash provided (required) by financing activities | (246.3) | 23.8 | (222.5) |
| Effect of changes in foreign exchange rates on cash and cash equivalents | (192.8) | (8.0) | (200.8) |
| (Decrease) Increase in cash and cash equivalents | (57.9) | 70.7 | 12.8 |
| Cash and cash equivalents, beginning of period | 3,846.7 | 211.3 | 4,058.0 |
| Cash and cash equivalents, end of period | 3,788.8 | 282.0 | 4,070.8 |
APPENDIX 4.0: ADJUSTED ALTERNATIVE PERFORMANCE MEASURES - FIRST NINE MONTHS 2026
| (In € millions, except %) | 9M 26 | % of revenues | 9M 25 | % of revenues |
| Adjusted revenue | 5,596.7 | 5,417.1 | ||
| Cost of sales | (5,015.9) | 89.6% | (4,685.5) | 86.5% |
| Adjusted gross margin | 580.8 | 10.4% | 731.6 | 13.5% |
| Adjusted recurring EBITDA | 384.7 | 6.9% | 478.0 | 8.8% |
| Amortization, depreciation and impairment | (118.7) | (92.7) | ||
| Impacts of purchase accounting | 10.4 | — | ||
| Adjusted recurring EBIT | 276.4 | 4.9% | 385.3 | 7.1% |
| Impacts of purchase accounting | (18.0) | — | ||
| Non-recurring items | (47.4) | (49.4) | ||
| Adjusted profit (loss) before financial income (expense), net and income tax | 211.1 | 3.8% | 335.9 | 6.2% |
| Financial income (expense), net | 65.7 | 70.5 | ||
| Adjusted profit (loss) before tax | 276.8 | 4.9% | 406.4 | 7.5% |
| Income tax (expense) profit | (87.4) | (121.2) | ||
| Adjusted net profit (loss) | 189.4 | 3.4% | 285.2 | 5.3% |
APPENDIX 4.1: ADJUSTED ALTERNATIVE PERFORMANCE MEASURES - THIRD QUARTER 2026
| (In € millions, except %) | Q3 26 | % of revenues | Q3 25 | % of revenues |
| Adjusted revenue | 1,943.7 | 1,770.7 | ||
| Cost of sales | (1,703.9) | 87.7% | (1,533.6) | 86.6% |
| Adjusted gross margin | 239.8 | 12.3% | 237.1 | 13.4% |
| Adjusted recurring EBITDA | 172.4 | 8.9% | 159.0 | 9.0% |
| Amortization, depreciation and impairment | (37.2) | (31.1) | ||
| Impacts of purchase accounting | 3.7 | 0.0 | ||
| Adjusted recurring EBIT | 139.0 | 7.1% | 127.9 | 7.2% |
| Impacts of purchase accounting | (7.6) | — | ||
| Non-recurring items | (16.9) | (20.8) | ||
| Adjusted profit (loss) before financial income (expense), net and income tax | 114.4 | 5.9% | 107.1 | 6.0% |
| Financial income (expense), net | 24.4 | 19.1 | ||
| Adjusted profit (loss) before tax | 138.8 | 7.1% | 126.2 | 7.1% |
| Income tax (expense) profit | (43.4) | (37.6) | ||
| Adjusted net profit (loss) | 95.4 | 4.9% | 88.6 | 5.0% |
APPENDIX 5.0: ADJUSTED RECURRING EBIT AND EBITDA RECONCILIATION - FIRST NINE MONTHS 2026
|
(In € millions) |
Project Delivery |
Technology, Products & Services | Corporate/non allocable | Total | ||||
| 9M 26 | 9M 25 | 9M 26 | 9M 25 | 9M 26 | 9M 25 | 9M 26 | 9M 25 | |
| Revenue | 4,212.7 | 4,067.4 | 1,384.0 | 1,349.7 | — | — | 5,596.7 | 5,417.1 |
| Profit (loss) before financial income (expense), net and income tax | 211.1 | 335.9 | ||||||
| Non-recurring items: | ||||||||
| Other non-recurring income/(expense) | 47.4 | 49.4 | ||||||
| Adjusted recurring EBIT | 170.9 | 280.6 | 155.5 | 151.0 | (49.9) | (46.3) | 276.4 | 385.3 |
| Adjusted recurring EBIT margin % | 4.1% | 6.9% | 11.2% | 11.2% | —% | —% | 4.9% | 7.1% |
| Adjusted amortization and depreciation | (47.6) | (43.4) | (71.1) | (49.3) | — | — | (118.7) | (92.7) |
| Adjusted recurring EBITDA | 218.5 | 324.0 | 216.1 | 200.3 | (49.9) | (46.3) | 384.7 | 478.0 |
| Adjusted recurring EBITDA margin % | 5.2% | 8.0% | 15.6% | 14.8% | —% | —% | 6.9% | 8.8% |
APPENDIX 5.1: ADJUSTED RECURRING EBIT AND EBITDA RECONCILIATION - THIRD QUARTER 2026
|
(In € millions, except %) |
Project Delivery |
Technology, Products & Services | Corporate/non allocable | Total | ||||
| Q3 26 | Q3 25 | Q3 26 | Q3 25 | Q3 26 | Q3 25 | Q3 26 | Q3 25 | |
| Revenue | 1,448.6 | 1,331.2 | 495.1 | 439.5 | — | — | 1,943.7 | 1,770.7 |
| Profit (loss) before financial income (expense), net and income tax | 114.4 | 107.1 | ||||||
| Non-recurring items: | ||||||||
| Other non-recurring income/(expense) | 16.9 | 20.8 | ||||||
| Adjusted recurring EBIT | 86.6 | 93.1 | 60.4 | 48.3 | (8.0) | (13.6) | 139.0 | 127.9 |
| Adjusted recurring EBIT margin % | 6.0% | 7.0% | 12.2% | 11.0% | —% | —% | 7.1% | 7.2% |
| Adjusted amortization and depreciation | (14.3) | (16.2) | (22.9) | (14.9) | — | — | (37.2) | (31.1) |
| Adjusted recurring EBITDA | 100.9 | 109.3 | 79.6 | 63.3 | (8.0) | (13.6) | 172.4 | 159.0 |
| Adjusted recurring EBITDA margin % | 7.0% | 8.2% | 16.1% | 14.4% | —% | —% | 8.9% | 9.0% |
APPENDIX 6.0: BACKLOG - RECONCILIATION BETWEEN IFRS AND ADJUSTED
| (In € millions) |
9M 26 IFRS |
Adjustments |
9M 26 Adjusted |
| Project Delivery | 22,710.9 | 291.0 | 23,001.9 |
| Technology, Products & Services | 1,494.7 | 10.2 | 1,504.9 |
| Total | 24,205.7 | 24,506.8 |
APPENDIX 7.0: ORDER INTAKE - RECONCILIATION BETWEEN IFRS AND ADJUSTED
| (In € millions) |
9M 26 IFRS |
Adjustments |
9M 26 Adjusted |
| Project Delivery | 12,311.1 | 415.3 | 12,726.4 |
| Technology, Products & Services | 1,338.7 | 63.2 | 1,401.8 |
| Total | 13,649.8 | 14,128.3 |
APPENDIX 8.0: Definition of Alternative Performance Measures (APMs)
Certain parts of this Press Release contain the following non-IFRS financial measures: Adjusted Revenue, Adjusted Recurring EBIT, Adjusted Recurring EBITDA, Adjusted net (debt) cash, Adjusted Backlog, and Adjusted Order Intake, which are not recognized as measures of financial performance or liquidity under IFRS and which the Company considers to be APMs. APMs should not be considered an alternative to, or more meaningful than, the equivalent measures as determined in accordance with IFRS or as an indicator of the Company’s operating performance or liquidity.
Each of the APMs is defined below:
- Adjusted revenue: represents the revenue recognized under IFRS as adjusted according to the method described below. For the periods presented in this Press Release, the Company’s proportionate share of joint venture revenue from the following most material projects was included: the revenue from ENI CORAL FLNG, NFE and Zeolyst is included at 50%, the revenue from BAPCO Sitra Refinery is included at 36%, the revenue from GranMorgu project is included at 48% and the one of Ruwais project at 40%. The Company believes that presenting the proportionate share of its joint venture revenue in construction projects carried out in joint arrangements enables management and investors to better evaluate the performance of the Company’s core business period-over-period by assisting them in more accurately understanding the activities actually performed by the Company on these projects.
- Adjusted recurring EBIT: represents profit before financial income (expense), net, and income taxes recorded under IFRS as adjusted to reflect line-by-line for their respective share incorporated construction project entities that are not fully owned by the Company (applying to the method described above under Adjusted Revenue) and adds or removes, as appropriate, items that are considered as non-recurring from EBIT (such as items not arising from the Group’s normal operations, including restructuring expenses, significant litigation, costs related to strategic initiatives and investments in adjacent business models, as well as expenses incurred in connection with the business combination including purchase accounting impacts). The Company believes that the exclusion of such expenses or profits from these financial measures enables investors and management to evaluate the Company’s operations and consolidated results of operations period-over-period, and to identify operating trends that could otherwise be masked to both investors and management by the excluded items.
- Adjusted recurring EBITDA: corresponds to the adjusted recurring EBIT as described above before depreciation and amortization expenses.
- Adjusted net (debt) cash: reflects cash and cash equivalents, net of debt (including short-term debt), as adjusted according to the method described above under adjusted revenue. Management uses this APM to evaluate the Company’s capital structure and financial leverage. The Company believes adjusted net (debt) cash, is a meaningful financial measure that may assist investors in understanding the Company’s financial condition and recognizing underlying trends in its capital structure.
- Adjusted backlog: backlog is calculated as the estimated sales value of unfilled, confirmed customer orders at the relevant reporting date. Adjusted backlog takes into account the Company’s proportionate share of backlog related to equity affiliates (mainly in relation to ENI Coral FLNG, BAPCO Sitra Refinery and two affiliates of the NFE joint-venture). The adjusted backlog from GranMorgu project is included at 48% and the one of Ruwais project at 40%. The Company believes that the adjusted backlog enables management and investors to evaluate the level of the Company’s core business forthcoming activities by including its proportionate share in the estimated sales coming from construction projects in joint arrangements.
- Adjusted order intake: order intake corresponds to signed contracts which have come into force during the reporting period. Adjusted order intake adds the proportionate share of orders signed related to equity affiliates (mainly in relation to ENI Coral FLNG, BAPCO Sitra Refinery and two affiliates of the NFE joint-venture). This financial measure is closely connected with the adjusted backlog in the evaluation of the level of the Company’s forthcoming activities by presenting its proportionate share of contracts which came into force during the period and that will be performed by the Company.
•
Contacts
Investor Relations
Phillip Lindsay
Vice President, Investor Relations
Tel: +44 20 7585 5051
Email: investor.relations@ten.com
Media Relations
Jason Hyonne
Manager, Press Relations & Social Media
Tel: +33 1 47 78 22 89
Email: media_@ten.com
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