Technip’s Second Quarter 2013 Results

  Technip’s Second Quarter 2013 Results

Solid Quarter - Full Year Objectives Maintained

Business Wire

PARIS -- July 25, 2013

Regulatory News:

Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY)

SECOND QUARTER 2013 RESULTS

  *Order intake of €2.8 billion
  *Record backlog of €15.2 billion, of which €7.4 billion in Subsea
  *Revenue of €2.4 billion
  *Operating margin^1 of 10.0%
  *Net income of €162.4 million

FULL YEAR 2013 OBJECTIVES MAINTAINED^2

  *Group revenue growing 11% to 16% to between €9.1 and €9.5 billion
  *Subsea revenue growing to between €4.3 and €4.6 billion, with operating
    margin around 15%
  *Onshore/Offshore revenue growing to between €4.7 and €5.1 billion, with
    operating margin between 6% and 7%

On July 23, 2013, Technip’s Board of Directors approved the second quarter and
first half 2013 consolidated accounts.

€ million
(Except Diluted    2Q 12^*  2Q 13    Change   1H 12^*  1H 13    Change
Earnings per
Share)
Revenue            2,052.2  2,423.6  18.1%    3,817.5  4,439.4  16.3%
EBITDA^3           257.3    294.4    14.4%    462.0    521.3    12.8%
EBITDA Margin      12.5%    12.1%    (39)bp   12.1%    11.7%    (36)bp
Operating Income
from Recurring       207.3     242.0     16.7%      372.5     415.5     11.5%
Activities
Operating Margin     10.1%     10.0%     (12)bp     9.8%      9.4%      (40)bp
Operating Income   204.3    242.0    18.5%    369.5    415.5    12.4%
Net Income           136.0     162.4     19.4%      248.2     278.6     12.2%
Diluted Earnings   1.14     1.35     17.8%    2.09     2.32     11.0%
per Share^4 (€)
Order Intake         2,516     2,764                5,826     5,670
Backlog            12,724   15,185                           

* restated for retrospective application of amended IAS 19 standard “Employee
Benefits” as of January 1, 2013

Thierry Pilenko, Chairman and CEO, commented: “Technip's second quarter
results enable us to maintain our 2013 full year revenue and profit
objectives. In Subsea, progress and close-out on projects allowed revenue to
grow by 12% with a 15.9% operating margin. Onshore/Offshore revenue was up 23%
with operating margin in line with our objectives, at 6.7%. Overall, the Group
grew net income and EPS by respectively 19% and 18%.

Order intake reflected the strong activity we see in nearly all our markets
and was composed in both segments of a diversified mix of projects. Subsea
order intake was characterized by flexible supply contracts and smaller and
medium-sized installation contracts: Snøhvit and Norne in the North Sea, and
South White Rose Extension in Canada. After the award in the first quarter of
Moho Nord in Congo, momentum in West Africa continued in the second quarter
with awards to supply umbilicals and flexibles for the Egina field development
in Nigeria.

Onshore/Offshore order intake included the engineering, procurement and
fabrication contract for the P-76 FPSO topsides in Brazil, as well as the
definitive award for the Heidelberg Spar which is being built in our yard in
Pori, Finland. We won contracts to perform Project Management Consultancy
(PMC) services for our clients, including on the Karbala refinery in Iraq.
Technip also secured early stage involvement in a number of important
potential developments worldwide, notably in FLNG and LNG, for example with
the Pacific NorthWest LNG FEED in Canada.

Our clients remain active, looking to us to design facilities and developments
that can be cost- and schedule-effective in more complex and harsh environment
situations. We have not seen any meaningful change in our clients' drive to
sanction projects in the last few months.

Technip has grown its workforce in the last six months, and we now number
nearly 38,000 people in 48 countries worldwide. Their relentless efforts to
devise the best engineering and project execution strategies for our customers
are central to enable Technip to win projects and execute them safely and
profitably.

Our Capex program progressed as regards the major assets under construction:
Deep Energy pipelay vessel, Açu flexible pipe manufacturing plant in Brazil,
Newcastle umbilical manufacturing plant in the UK. The new Deep Orient pipelay
vessel met a major milestone with a good performance on Åsgard and Goliat, her
first projects, and she will head to Asia Pacific in the Autumn. Later this
year, the Deep Energy will start work on her first projects in the Gulf of
Mexico where she will lay umbilicals, rigid and flexible pipes as part of an
important and busy schedule of work for Technip in the US.

We enter the second half of the year with a diversified backlog of €15.2
billion, of which €4.4xbillion is estimated to be carried out by year-end. We
will be active on projects entering important construction and offshore phases
during this period in both segments and, accordingly, Technip’s collective
focus remains first and foremost on executing those projects in order to
deliver our second half objectives, and for the longer term, continued
sustainable and profitable growth.”

^1 Operating income from recurring activities divided by revenue.
^2 Based on the year-to-date average exchange rates.
^3 Operating income from recurring activities before depreciation and
amortization.
^4 As per IFRS, diluted earnings per share are calculated by dividing profit
or loss attributable to the Parent Company’s Shareholders, restated from
financial interest related to dilutive potential ordinary shares, by the
weighted average number of outstanding shares during the period, plus the
effect of dilutive potential ordinary shares related to the convertible bonds,
dilutive stock options and performance shares calculated according to the
“Share Purchase Method” (IFRS 2), less treasury shares. In conformity with
this method, anti-dilutive stock options are ignored in calculating EPS.
Dilutive options are taken into account if the subscription price of the stock
options plus the future IFRS 2 charge (i.e. the sum of annual charge to be
recorded until the end of the stock option plan) is lower than the average
market share price during the period.


I. PORTFOLIO OF PROJECTS

1. Second Quarter 2013 Order Intake

During second quarter 2013, Technip’s order intake was €2,763.8 million. The
breakdown by business segment was as follows:

Order Intake (€ million)   2Q 2012   2Q 2013
Subsea                     1,335.8   1,539.9
Onshore/Offshore             1,180.0     1,223.9
Total                      2,515.8   2,763.8
                                         

Subsea

Second quarter Subsea order intake included a contract for Engineering,
Procurement, Construction and Installation (EPCI) of smoothbore risers for the
Norne field in Norway, as well as  large diameter steel flowlines installation
for the Snøhvit CO[2] project.  Technip won contracts for the Project
Management, Engineering and Manufacture of steel tube umbilicals and flexible
pipes for the Egina project in Nigeria. Across the Atlantic, we were awarded
the South White Rose Extension project in Canada. In Brazil, Technip was
awarded a major contract for flexible pipes engineered for ultra-deep
application on the Iracema Sul field, reinforcing Technip’s position in the
pre-salt Brazilian market.

Onshore/Offshore

Onshore/Offshore order intake for the quarter included several smaller
projects in the Middle East: Technip will provide engineering and procurement
services for Takreer’s new coke calcination unit in the United Arab Emirates,
as well as a PMC scope for the Karbala refinery in Iraq. Our strategy of
differentiating and leveraging our capacity to manage complex brownfield
projects led to the award of the Sulfur Recovery Unit by Bahrain Petroleum
Company (BAPCO).

In Brazil, Technip will be in charge of the design and integration of the
topsides for the P-76 Floating, Production, Storage and Offloading unit
(FPSO). Following the execution of the Front End Engineering Design (FEED) of
NOVA’s polyethylene expansion project in Canada, we will perform the
engineering and procurement scopes. Technip will also participate in the
competitive FEED for the Canadian Pacific NorthWest LNG facilities.

Technip also won a Biomass-to-Liquid plant FEED in Finland, in line with our
strategy to get involved in innovative projects in the early stages. A
services contract in Venezuela for two hydrogen reformers, which will utilize
our state-of-the-art proprietary technology,  was also awarded toward the end
of this quarter.

Listed in annex IV (b) are the main contracts announced since April 2013 and
their approximate value if publicly disclosed.

2. Backlog by Geographic Area

At the end of the second quarter 2013, Technip’s backlog rose to €15.2
billion, compared with €14.8 billion at the end of first quarter 2013, and
€12.7 billion at the end of second quarter 2012.

This backlog remains diversified in terms of project types, sizes,
technologies and geographical areas as set-out in the table below:

Backlog                        March 31,   June 30,   Change
(€ million)                    2013        2013      
Europe, Russia, Central Asia     4,095         4,168        2%
Africa                           2,346         2,549        8.7%
Middle East                      1,436         1,204        (16.2)%
Asia Pacific                     3,204         2,963        (7.5)%
Americas                         3,697         4,301        16.3%
Total                          14,778      15,185     2.8%
                                                            

3. Backlog Scheduling

Approximately 29% of the backlog is estimated to be scheduled for execution in
2013.

Backlog Estimated Scheduling
                                  Subsea   Onshore/Offshore   Group
as of June 30, 2013 (€ million)
2013 (6 months)                   1,938    2,453              4,391
2014                                2,485      3,136                5,621
2015 and beyond                     2,933      2,241                5,173
Total                             7,355    7,830              15,185
                                                                    

II. SECOND QUARTER 2013 OPERATIONAL & FINANCIAL HIGHLIGHTS

1. Subsea

Subsea main operations for the quarter were as follows:

  *In the North Sea, satisfactory marine conditions allowed offshore
    operations to continue work on various projects such as Åsgard and Goliat
    in Norway on which our new vessel, the Deep Orient, delivered a good
    performance. In the UK, the engineering and procurement phase of the major
    Quad 204 project moved forward. Other projects, notably Bøyla, Gannet,
    Greater Stella and Juliet made progress on their engineering and
    procurement phases.
  *In the Americas:

       *In Brazil, construction of the new flexible pipe plant in Açu made
         headway with key equipment delivered on site, and we pursued plant
         operator training. The first batch of Integrated Production Bundle
         risers and flowlines for the Papa-Terra field manufactured in France
         arrived in Brazil, and is ready to be installed. Meanwhile, the
         construction of two 550 ton PLSVs, for long-term charter to Petrobras
         progressed well in Korea.
       *In the Gulf of Mexico, our key vessels were all active on offshore
         operations: the Deep Blue was mobilized on the Walker Ridge gas
         gathering system, while the G1200 installed the first pipeline for
         the South Timbalier Block 283 Junction Platform.

  *In West Africa, mobilization started on the Egina project, in Nigeria, for
    the design of steel umbilicals and flexible pipes. In Congo, ramp-up and
    engineering activities continued for the development of the Moho Nord
    field, whilst the CoGa project progressed towards its completion phase.
  *In Asia Pacific, in China, the G1201 vessel completed the pipe
    installation for the Liwan gas platform, while the Panyu project’s
    engineering phase is on-going. Wheatstone in Australia is moving forward
    with the umbilical design phase as is the Malikai subsea project in
    Malaysia.

Overall Group vessel utilization rate for the second quarter 2013 was 84%
compared with 74% for the second quarter 2012.

Subsea financial performance is set out in the following table:

€ million                                  2Q 2012*   2Q 2013^*   Change
Subsea                                                           
Revenue                                      981.2        1,102.9       12.4%
EBITDA                                       190.1        218.7         15.0%
EBITDA Margin                                19.4%        19.8%         46bp
Operating Income From Recurring              147.3        175.4         19.1%
Activities
Operating Margin                           15.0%      15.9%       89bp

* restated for retrospective application of amended IAS 19 standard “Employee
Benefits” as of January 1, 2013

2. Onshore/Offshore

Onshore/Offshore main operations for the quarter were as follows:

  *In the Middle East, work started on the recently announced BAPCO Sulfur
    Recovery Unit modification EPC project in Bahrain. In Abu Dhabi, the Satah
    full field development moved into its construction phase while engineering
    and procurement activities reached the final phases for Upper Zakum 750
    EPC1, for which the FEED was completed last year. In Saudi Arabia,
    commissioning of the Jubail 2A and 5A packages was carried out
    successfully, and we have been demobilizing progressively on both
    packages. Procurement continued for equipment and bulk material to be
    installed on the KEMYA Halobutyl project.
  *In Asia Pacific, in Malaysia, the first steel was cut for the Malikai hull
    and topsides. Engineering and detailed design progressed for Petronas FLNG
    1 and first steel has also been cut. In Australia, Shell’s Prelude FLNG
    moved forward in its construction phase, and the Wheatstone gas processing
    platform engineering and detailed design progressed.
  *In the Americas, engineering for the Westlake ethylene plant in Kentucky
    continued and purchase orders were placed. The Mosaic fertilizer FEED in
    Louisiana reached its final phase. In Canada, Technip and partners started
    the competitive FEED for Pacific NorthWest LNG. In Venezuela, progress was
    made on the Petrocarabobo and Petrourica FEEDs for two PDVSA upgraders in
    the Orinoco belt. In Mexico, EPC activities continued on the Etileno XXI
    plant.
  *Elsewhere, in Norway, engineering for the Martin Linge platform progressed
    and materials were purchased for the Aasta Hansteen Spar. In Finland,
    construction of the Heidelberg Spar continued. Meanwhile, engineering and
    procurement services continued on the PTA plant in India, and Burgas’
    refinery in Bulgaria made good progress in its construction supervision
    and procurement phase.

Onshore/Offshore financial performance is set out in the following table:

€ million                                   2Q 2012^*   2Q 2013   Change
Onshore/Offshore                                                 
Revenue                                       1,071.0       1,320.7     23.3%
Operating Income From Recurring               77.5          88.9        14.7%
Activities
Operating Margin                            7.2%        6.7%      (50)bp

* restated for retrospective application of amended IAS 19 standard “Employee
Benefits” as of January 1, 2013

3. Group

Technip Group’s Operating Income From Recurring Activities including Corporate
charges as detailed in annex I (c) is set out in the following table:

€ million                                   2Q 2012^*   2Q 2013   Change
Group                                                            
Revenue                                       2,052.2       2,423.6     18.1%
Operating Income From Recurring               207.3         242.0       16.7%
Activities
Operating Margin                            10.1%       10.0%     (12)bp

* restated for retrospective application of amended IAS 19 standard “Employee
Benefits” as of January 1, 2013

In the second quarter 2013, foreign exchange had a negative impact estimated
at €28.4 million on revenue and a negative impact estimated at €5.5 million on
operating income from recurring activities. Financial result on contracts
recognized as revenue amounted to €3.6 million in second quarter 2013.

4. Group Net Income

Operating income was €242 million in second quarter 2013, versus €204 million
a year ago.

Financial result in second quarter 2013 included a €3.6 million positive
impact from changes in foreign exchange rates and fair market value of hedging
instruments, compared with a €12million negative impact last year.

The slight variation in Diluted Number of Shares is mainly due to stock
options granted to Technip’s employees.

€ million, except Diluted Earnings
per Share, and Diluted               2Q 2012^*     2Q 2013       Change
Number of Shares
Operating Income                     204.3         242.0         18.5%
Financial Result                       (18.9)          (10.7)          (43.4)%
Share of Income / (Loss) of Equity     -               (0.1)           nm
Affiliates
Income Tax Expense                     (48.7)          (67.8)          39.2%
Effective Tax Rate                     26.3%           29.3%           3%
Non-Controlling Interests              (0.7)           (1.0)           42.9%
Net Income                             136.0           162.4           19.4%
Diluted Number of Shares               123,391,178     124,410,586     0.8%
Diluted Earnings per Share (€)       1.14          1.35          17.8%

* restated for retrospective application of amended IAS 19 standard “Employee
Benefits” as of January 1, 2013

5. Cash Flow and Statement of Financial Position

As of June 30, 2013, the Group’s net debt was €271 million compared to €91
million at the end of March 2013.

€ million                                                       
Net Cash Position as of March 31, 2013                           (90.9)
Net Cash Generated from / (Used in) Operating Activities          182.6
of which:
Cash Generated from / (Used in) Operations                 257.7  
Change in Working Capital Requirements                     (75.1) 
Capital Expenditures                                              (170.8)
Dividends Paid                                                    (186.0)
Other including FX Impacts                                        (6.1)
Net Cash Position as of June 30, 2013                           (271.2)
                                                                  

Capital expenditures for the second quarter 2013 increased to €171 million
compared to €152million one year ago. In the first half 2013, capital
expenditures amounted to €282 million versus €248 million one year ago.

Shareholders’ equity as of June 30, 2013, was €4,003 million compared with
€3,962million as of December 31, 2012, restated.

III. FULL YEAR 2013 OBJECTIVES MAINTAINED

  *Group revenue growing 11% to 16% to between €9.1 and €9.5 billion
  *Subsea revenue growing to between €4.3 and 4.6 billion, with operating
    margin around 15%
  *Onshore/Offshore revenue growing to between €4.7 and €5.1 billion, with
    operating margin between 6% and 7%

                                      °

                                     ° °

  The information package on Second Quarter 2013 results includes this press
release and the annexes which follow, as well as the presentation published on
                      Technip’s website: www.technip.com

                                    NOTICE

Today, Thursday, July 25, 2013, Chairman and CEO Thierry Pilenko, along with
CFO Julian Waldron, will comment on Technip’s results and answer questions
from the financial community during a conference call in English starting at
10:00a.m. CET.

To participate in the conference call, you may call any of the following
telephone numbers approximately 5 - 10 minutes prior to the scheduled start
time:

France / Continental Europe:   +33 (0)1 70 77 09 47
UK:                              +44 (0)203 043 2441
USA:                             +1 866 907 5925
                                 

The conference call will also be available via a simultaneous, listen-only
audio-cast on Technip’s website.

A replay of this conference call will be available approximately two hours
following the conference call for 90 days on Technip’s website and for two
weeks at the following telephone numbers:

                               Telephone Numbers      Confirmation Code
France / Continental Europe:     +33 (0)1 72 00 15 00     282183#
UK:                              +44 (0)203 367 9460      282183#
USA:                             +1 877 642 3018          282183#
                                                          

Cautionary note regarding forward-looking statements

This presentation contains both historical and forward-looking statements.
These forward-looking statements are not based on historical facts, but rather
reflect our current expectations concerning future results and events, and
generally may be identified by the use of forward-looking words such as
“believe”, “aim”, “expect”, “anticipate”, “intend”, “foresee”, “likely”,
“should”, “planned”, “may”, “estimates”, “potential” or other similar words.
Similarly, statements that describe our objectives, plans or goals are or may
be forward-looking statements. These forward-looking statements involve known
and unknown risks, uncertainties and other factors that may cause our actual
results, performance or achievements to differ materially from the anticipated
results, performance or achievements expressed or implied by these
forward-looking statements. Risks that could cause actual results to differ
materially from the results anticipated in the forward-looking statements
include, among other things: our ability to successfully continue to originate
and execute large services contracts, and construction and project risks
generally; the level of production-related capital expenditure in the oil and
gas industry as well as other industries; currency fluctuations; interest rate
fluctuations; raw material (especially steel) as well as maritime freight
price fluctuations; the timing of development of energy resources; armed
conflict or political instability in the Arabian-Persian Gulf, Africa or other
regions; the strength of competition; control of costs and expenses; the
reduced availability of government-sponsored export financing; losses in one
or more of our large contracts; U.S. legislation relating to investments in
Iran or elsewhere where we seek to do business; changes in tax legislation,
rules, regulation or enforcement; intensified price pressure by our
competitors; severe weather conditions; our ability to successfully keep pace
with technology changes; our ability to attract and retain qualified
personnel; the evolution, interpretation and uniform application and
enforcement of International Financial Reporting Standards (IFRS), according
to which we prepare our financial statements as of January 1, 2005; political
and social stability in developing countries; competition; supply chain
bottlenecks; the ability of our subcontractors to attract skilled labor; the
fact that our operations may cause the discharge of hazardous substances,
leading to significant environmental remediation costs; our ability to manage
and mitigate logistical challenges due to underdeveloped infrastructure in
some countries where we are performing projects.

Some of these risk factors are set forth and discussed in more detail in our
Annual Report. Should one of these known or unknown risks materialize, or
should our underlying assumptions prove incorrect, our future results could be
adversely affected, causing these results to differ materially from those
expressed in our forward-looking statements. These factors are not necessarily
all of the important factors that could cause our actual results to differ
materially from those expressed in any of our forward-looking statements.
Other unknown or unpredictable factors also could have material adverse
effects on our future results. The forward-looking statements included in this
release are made only as of the date of this release. We cannot assure you
that projected results or events will be achieved. We do not intend, and do
not assume any obligation to update any industry information or
forward-looking information set forth in this release to reflect subsequent
events or circumstances.

                                     ****

This presentation does not constitute an offer or invitation to purchase any
securities of Technip in the United States or any other jurisdiction.
Securities may not be offered or sold in the United States absent registration
or an exemption from registration. The information contained in this
presentation may not be relied upon in deciding whether or not to acquire
Technip securities.

This presentation is being furnished to you solely for your information, and
it may not be reproduced, redistributed or published, directly or indirectly,
in whole or in part, to any other person. Non-compliance with these
restrictions may result in the violation of legal restrictions of the United
States or of other jurisdictions.

                                     ****

                                      °

                                     ° °

Technip is a world leader in project management, engineering and construction
for the energy industry.

From the deepest Subsea oil & gas developments to the largest and most complex
Offshore and Onshore infrastructures, our 38,000 people are constantly
offering the best solutions and most innovative technologies to meet the
world’s energy challenges.

Present in 48 countries, Technip has state-of-the-art industrial assets on all
continents and operates a fleet of specialized vessels for pipeline
installation and subsea construction.

Technip shares are listed on the NYSE Euronext Paris exchange and ADR is
traded in the US on the OTCQX marketplace as an American Depositary Receipt
(OTCQX: TKPPY).

ANNEX I (a)
CONSOLIDATED STATEMENT OF INCOME
IFRS, not audited
                                                     
                  Second Quarter                       First Half
€ million
(Except Diluted
Earnings per
Share, and       2012*        2013         Change   2012*        2013         Change
Diluted Number
of
Shares)
Revenue          2,052.2      2,423.6      18.1%    3,817.5      4,439.4      16.3%
Gross Margin     385.4        437.1        13.4%    713.0        795.7        11.6%
Research &
Development       (17.5)       (16.7)       (4.6)%    (32.6)       (30.7)       (5.8)%
Expenses
SG&A and Other   (160.6)      (178.4)      11.1%    (307.9)      (349.5)      13.5%
Operating
Income from      207.3        242.0        16.7%    372.5        415.5        11.5%
Recurring
Activities
Non-Current
Operating         (3.0)         -             nm        (3.0)         -             nm
Result
Operating        204.3        242.0        18.5%    369.5        415.5        12.4%
Income
Financial         (18.9)        (10.7)        (43.4)%   (26.1)        (19.0)        (27.2)%
Result
Share of Income
/ (Loss) of       -             (0.1)         nm        -             0.1           nm
Equity
Affiliates
Income / (Loss)  185.4        231.2        24.7%    343.4        396.6        15.5%
before Tax
Income Tax        (48.7)        (67.8)        39.2%     (93.8)        (116.3)       24.0%
Expense
Non-Controlling   (0.7)         (1.0)         42.9%     (1.4)         (1.7)         21.4%
Interests
Net Income /     136.0        162.4        19.4%    248.2        278.6        12.2%
(Loss)
                                                                        
Diluted Number   123,391,178  124,410,586  0.8%     123,449,452  124,430,271  0.8%
of Shares
                                                                        
Diluted
Earnings per     1.14         1.35         17.8%    2.09         2.32         11.0%
Share (€)

* restated for retrospective application of amended IAS 19 standard “Employee
Benefits” as of January 1, 2013

ANNEX I (b)
FOREIGN CURRENCY CONVERSION RATES
IFRS, not audited
                                                             
                Closing Rate as of   Average Rate of            
              Dec. 31,  Jun. 30,  2Q 2012  2Q 2013  1H 2012  1H 2013
                2012       2013
USD for 1 EUR  1.32      1.31      1.28     1.31     1.30     1.31
GBP for 1 EUR  0.82      0.86      0.81     0.85     0.82     0.85
BRL for 1 EUR  2.70      2.89      2.51     2.70     2.42     2.67
NOK for 1 EUR  7.35      7.88      7.56     7.61     7.57     7.52
                                             

ANNEX I (c)
ADDITIONAL INFORMATION BY BUSINESS SEGMENT
IFRS, not audited
                                                 
                       Second Quarter              First Half
€ million             2012*    2013     Change  2012*    2013     Change
SUBSEA                                                             
Revenue                981.2     1,102.9   12.4%    1,772.3   2,025.5   14.3%
Gross Margin           226.8     259.1     14.2%    407.6     457.6     12.3%
Operating Income
from Recurring         147.3     175.4     19.1%    263.5     293.8     11.5%
Activities
Operating Margin       15.0%     15.9%     89bp     14.9%     14.5%     (36)bp
Depreciation and       (42.8)    (43.3)    1.2%     (75.9)    (89.0)    17.3%
Amortization
EBITDA                 190.1     218.7     15.0%    339.4     382.8     12.8%
EBITDA Margin         19.4%    19.8%    46bp    19.2%    18.9%    (25)bp
ONSHORE/OFFSHORE
Revenue                1,071.0   1,320.7   23.3%    2,045.2   2,413.9   18.0%
Gross Margin           158.6     178.0     12.2%    305.4     338.1     10.7%
Operating Income
from Recurring         77.5      88.9      14.7%    141.6     163.0     15.1%
Activities
Operating Margin       7.2%      6.7%      (50)bp   6.9%      6.8%      (17)bp
Depreciation and      (7.2)    (9.1)    26.4%   (13.6)   (16.8)   23.5%
Amortization
CORPORATE
Operating Income
from Recurring         (17.5)    (22.3)    27.4%    (32.6)    (41.3)    26.7%
Activities
Depreciation and      -        -        nm      -        -        nm
Amortization
                                                                        

ANNEX I (d)
REVENUE BY GEOGRAPHICAL AREA
IFRS, not audited
                                                
                    Second Quarter                First Half
€ million          2012*    2013     % Δ       2012*    2013     % Δ
Europe, Russia,    628.5    709.5    12.9%     1,121.5  1,189.7  6.1%
Central Asia
Africa             210.4    191.5    (9.0)%    317.0    329.8    4.0%
Middle East        267.2    238.6    (10.7)%   540.8    524.6    (3.0)%
Asia Pacific       318.5    510.5    60.3%     608.2    909.4    49.5%
Americas           627.6    773.5    23.2%     1,230.0  1,485.9  20.8%
TOTAL              2,052.2  2,423.6  18.1%     3,817.5  4,439.4  16.3%

* restated for retrospective application of amended IAS 19 standard “Employee
Benefits” as of January 1, 2013

ANNEX II
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
IFRS
                                                            
                                              Dec. 31, 2012*   Jun. 30, 2013
                                              (audited)        (not audited)
€ million                                                   
Fixed Assets                                  6,022.2            6,131.8
Deferred Tax Assets                         330.3            337.8
Non-Current Assets                          6,352.5          6,469.6
                                                           
Construction Contracts – Amounts in           454.3              794.5
Assets
Inventories, Trade Receivables and Other      2,504.8            2,763.2
Cash & Cash Equivalents                     2,289.3          1,999.7
Current Assets                              5,248.4          5,557.4
                                                           
Assets Classified as Held for Sale          9.9              0.0
                                                           
Total Assets                                11,610.8         12,027.0
                                                           
Shareholders’ Equity (Parent Company)         3,948.9            3,988.8
Non-Controlling Interests                   13.2             14.5
Shareholders’ Equity                        3,962.1          4,003.3
                                                           
Non-Current Financial Debts                   1,705.7            2,029.3
Non-Current Provisions                        229.0              243.8
Deferred Tax Liabilities and Other          270.8            322.2
Non-Current Liabilities
Non-Current Liabilities                     2,205.5          2,595.3
                                                           
Current Financial Debts                       400.4              241.6
Current Provisions                            361.0              282.4
Construction Contracts – Amounts in           873.0              1,037.0
Liabilities
Trade Payables & Other                      3,808.8          3,867.4
Current Liabilities                         5,443.2          5,428.4
                                                           
Total Shareholders’ Equity & Liabilities    11,610.8         12,027.0
                                                           
Net Cash Position                           183.2            (271.2)
                                                                 

Statement of Changes in Shareholders’ Equity (Parent Company)
not audited (€ million):
Shareholders’ Equity as of December 31, 2012*      3,948.9
First Half 2013 Net Income                           278.6
First Half 2013 Other Comprehensive Income           (56.3)
Capital Increase                                     14.7
Treasury Shares                                      (40.2)
Dividends Paid                                       (186.0)
Other                                                29.1
Shareholders’ Equity as of June 30, 2013           3,988.8

* restated for retrospective application of amended IAS 19 standard “Employee
Benefits” as of January 1, 2013

ANNEX III (a)
CONSOLIDATED STATEMENT OF CASH FLOWS
IFRS, not audited
                                        
                                         First Half
€ million                               2012*              2013
                                                                   
Net Income / (Loss) of the Parent        248.2               278.6
Company
Depreciation & Amortization of Fixed     89.5                105.8
Assets
Stock Options and Performance Share      21.2                25.5
Charges
Non-Current Provisions (including        6.7                 20.4
Employee Benefits)
Deferred Income Tax                      29.0                31.4
Net (Gains) / Losses on Disposal of      (4.7)               (5.3)
Assets and Investments
Non-Controlling Interests and Other      15.1                16.4
Cash Generated from / (Used in)          405.0               472.8
Operations
                                                                       
Change in Working Capital Requirements   (418.6)             (430.2)
                                                                       
Net Cash Generated from / (Used in)                (13.6)              42.6
Operating Activities
                                                               
                                                                       
Capital Expenditures                     (248.0)             (281.5)
Proceeds from Non-Current Asset          37.9                12.6
Disposals
Acquisitions of Financial Assets         (3.3)               -
Acquisition Costs of Consolidated        (11.1)              (8.7)
Companies, Net of Cash Acquired
                                                                       
Net Cash Generated from / (Used in)                (224.5)             (277.6)
Investing Activities
                                                               
                                                                       
Net Increase / (Decrease) in             65.7                166.4
Borrowings
Capital Increase                         23.1                14.7
Dividends Paid                           (172.6)             (186.0)
Share Buy-Back                           (40.0)              (40.0)
                                                                       
Net Cash Generated from / (Used in)                (123.8)             (44.9)
Financing Activities
                                                               
                                                                       
Net Effects of Foreign Exchange Rate               22.2                (9.7)
Changes
                                                                       
Net Increase / (Decrease) in Cash and              (339.7)             (289.6)
Cash Equivalents
                                                               
                                                                       
Bank Overdrafts at Period Beginning      (0.1)               (0.3)
Cash and Cash Equivalents at Period      2,808.7             2,289.3
Beginning
Bank Overdrafts at Period End            (4.8)               (0.3)
Cash and Cash Equivalents at Period      2,473.7             1,999.7
End
                                                   (339.7)             (289.6)
                                                               

* restated for retrospective application of amended IAS 19 standard “Employee
Benefits” as of January 1, 2013

ANNEX III (b)
CASH & FINANCIAL DEBTS
IFRS not audited
                              
                                Cash and Financial Debts
                                Dec. 31, 2012*   Jun. 30, 2013
€ million                     (not audited)    (not audited)
Cash Equivalents                965.7              952.2
Cash                            1,323.6            1,047.5
Cash & Cash Equivalents (A)   2,289.3          1,999.7
Current Financial Debts         400.4              241.6
Non-Current Financial Debts     1,705.7            2,029.3
Gross Debt (B)                2,106.1          2,270.9
Net Cash Position (A – B)     183.2            (271.2)

* restated for retrospective application of amended IAS 19 standard “Employee
Benefits” as of January 1, 2013

ANNEX IV (a)
BACKLOG
not audited
                   
                     Backlog by Business Segment
                     As of           As of           Change
€ million          Jun. 30, 2012   Jun. 30, 2013  
Subsea               5,963.1           7,355.3           23.3%
Onshore/Offshore     6,760.6           7,830.2           15.8%
Total              12,723.7        15,185.5        19.3%
                                                         

                                 ANNEX IV (b)
                               CONTRACT AWARDS
                                 not audited

The main contracts we announced during second quarter 2013 were the following:

Subsea Segment:

  *Major lump-sum contract for the engineering, procurement, supply,
    construction, installation (EPSCI) and pre-commissioning for the Moho Nord
    development project at water depths ranging from 650 to 1,100 meters. This
    project is located approximately 75 kilometers off the coast of the
    Republic of the Congo: Total E&P, Congo,
  *Contract covering the engineering, preparation, removal and replacement of
    two existing oil-loading systems. This field is located in the North Sea
    at a water depth of approximately 130 meters: Statoil, Gullfaks field,
    offshore Norway,
  *Two contracts in Canada including the supply and installation of gas
    injection flowlines, umbilicals and subsea structures, as well as of
    flowlines and subsea structures for oil production and water injection:
    Husky Oil, Jeanne d’Arc Basin, Newfoundland and Labrador, Canada,
  *Engineering, procurement, construction and installation contract that
    covers the engineering and fabrication of two flexible smoothbore gas
    export risers, marine operations to remove an existing roughbore flexible
    riser and replace it with a new flexible smoothbore riser and the
    provision of a second flexible smoothbore in water depth of approximately
    380 meters: Statoil, Norne field, Norway,
  *Lump-sum contract covering the engineering, installation and
    pre-commissioning of more than 48 kilometers of flowlines, steel catenary
    risers and flowline end terminations for the development of the Julia
    field at a water depth of approximately 2,100 meters: Exxon Mobil
    Corporation, Walker Ridge area, US Gulf of Mexico,
  *Major contract for the supply of flexible pipes of up to 250 kilometers
    for oil production, gas lift, water and gas injection as well as related
    equipment for the Iracema Sul Field, at a water depth of up to 2,500
    meters, to be installed on the floating production storage and offloading
    (FPSO) unit Citade de Mangaratiba: Petrobras, Santos Basin pre-salt area,
    Brazil,
  *Important lump-sum contract for pipelay and subsea installations for the
    Snøhvit CO[2] Solution project, which is located approximately 140
    kilometers north-west of Hammerfest and has been in operation since 2007:
    Statoil, Arctic Circle, Norway.

Onshore/Offshore Segment:

  *Contract to carry out the engineering, procurement, supply, construction
    and commissioning of an integrated facility for natural gas liquefaction
    in consortium with JGC. The facility will have an annual production
    capacity of 16.5 million tons and will be based on the resources of the
    South Tambey Gas Condensate field located on the Yamal Peninsula: JSC
    Yamal LNG, Yamal, Russia,
  *Lump-sum contract for the engineering, procurement, construction, and
    pre-commissioning as well as commissioning and start-up assistance for the
    modification project of the #3 sulfur recovery unit (SRU) of the Bahrain
    refinery: Bahrain Petroleum company (BAPCO) Bahrain,
  *Substantial contract for the topside construction and integration of, and
    commissioning and start up assistance for the P-76 floating production
    storage and offloading (FPSO) unit, in consortium with Techint, located in
    the Santos Basin pre-salt area: PNBV, offshore Rio de Janeiro, Brazil,
  *Engineering and procurement contract for the Polyethylene 1 expansion
    project located at the NOVA Chemicals Joffre site. It includes the
    installation of a world-scale 431-kiloton per annum (950 MM lbs/yr)
    single-train linear low density polyethylene (LLDPE) unit: NOVA Chemicals
    Corporation, Alberta, Canada,
  *Contract for the front-end engineering design (FEED) and the early
    detailed engineering services of a grassroot liquefied natural gas (LNG)
    project. This project is located on Lelu Island and will be implemented in
    a consortium with Samsung Engineering Co Ltd and China Huanqiu Contracting
    & Engineering Corporation: Pacific NorthWest LNG Limited Partnership,
    British Columbia, Canada,
  *Lump-sum turnkey contract for the engineering, procurement, construction,
    pre-commissioning, commissioning and start-up assistance for flares
    modification and revamp project, located 290 kilometers offshore Abu
    Dhabi: ADMA-OPCO, Das Island, United Arab Emirates,
  *Technology, engineering services and supply contract for a new coke
    calcination unit, part of the Carbon Black & Delayed Coker project being
    implemented adjacent to Takreer’s existing Ruwais refinery: Abu Dhabi Oil
    Refining Company, Abu Dhabi, United Arab Emirates,
  *Project management consultancy (PMC) services contract for the
    engineering, procurement and construction (EPC) phase of the Karbala
    refinery, which follows the FEED contract executed by Technip in 2010: Oil
    Projects Company, Karbala, Iraq,
  *Front-end engineering design (FEED) contract for a new second generation
    Biomass-to-Liquid (BTL) plant, that will produce approximately 140,000
    tons of biodiesel and naphtha from wood and by-products from the
    wood-processing industry: Forest BtL Oy, Ajos island, Finland,
  *Services contract for the execution of a new world-scale Purified
    Terephthalic Acid (PTA) plant with a capacity of 1,250,000 ton per year,
    includes management of the engineering, procurement and construction
    services: BP Zhuhai Chemical Company Limited, Guangdong Province, China.

Since June 30, 2013, Technip has also announced the award of the following
contracts, which were included in the backlog as of June 30, 2013:

Subsea segment was awarded:

  *Important contract for project management, engineering and manufacture of
    about 76 kilometers of steel tube umbilicals including production, water
    injection and subsea isolation valve (SSIV) umbilicals for the Egina field
    offshore Nigeria, located within Oil Mining Lease 130, approximately 200
    kilometers from Port Harcourt, at water depths ranging from 1,150 to 1,750
    meters: Total Upstream Nigeria Ltd, offshore Nigeria.

Onshore/Offshore segment was awarded:

  *Significant contract to supply proprietary technology, engineering and
    procurement services for two hydrogen reformers in Venezuela, part of the
    Deep Conversion project being executed by the consortium for Petroleos de
    Venezuela SA (PDVSA) to upgrade the Puerto La Cruz refinery: Hyundai-Wison
    consortium, Venezuela.

Contact:

Analyst and Investor Relations
Kimberly Stewart:+33 (0)1 47 78 66 74
kstewart@technip.com
David Tadbir:+33 (0)1 40 90 19 04
dtadbir@technip.com
or
Public Relations
Christophe Bélorgeot: +33 (0)1 47 78 39 92
Floriane Lassalle-Massip: +33 (0)1 47 78 32 79
press@technip.com
or
Technip’s website http://www.technip.com
Technip’s IR website http://investors-en.technip.com
Technip’s IR mobile website http://investors.mobi-en.technip.com