Technip's Third Quarter 2013 Results

  Technip's Third Quarter 2013 Results

Momentum in backlog maintained – full year objectives revised

Business Wire

PARIS -- October 31, 2013

Regulatory News:

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

THIRD QUARTER 2013 RESULTS

  *Order intake of €3.1 billion
  *Backlog increased to €15.9 billion, of which €8.0 billion in Subsea
  *Revenue of €2.4 billion
  *Operating margin^1 of 9.2%
  *Net income of €150 million

FULL YEAR 2013 OBJECTIVES REVISED

  *Group revenue to between €9.3 and €9.4 billion
  *Subsea revenue lowered to around €4.1 billion
  *Subsea operating margin lowered to around 14%
  *Onshore/Offshore revenue raised to around €5.2 billion
  *Onshore/Offshore operating margin raised to between 6.5% and 7%

PREVIOUS OBJECTIVES

  *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 October 29, 2013, Technip’s Board of Directors approved the third quarter
2013 consolidated accounts.

€ million
(Except
Diluted       3Q 12*     3Q 13      Change     9M 12*     9M 13      Change  
Earnings
per Share)
Revenue       2,085.9    2,411.9    15.6%      5,903.4    6,851.3    16.1%
EBITDA^2      270.9      284.8      5.1%       732.9      806.1      10.0%
EBITDA        13.0%      11.8%      (118)bp    12.4%      11.8%      (65)bp
Margin
Operating
Income
from             217.0         221.8         2.2%          589.5         637.3         8.1%
Recurring
Activities
Operating        10.4%         9.2%          (121)bp       10.0%         9.3%          (68)bp
Margin
Operating     213.0      221.8      4.1%       582.5      637.3      9.4%
Income
Net Income       147.2         150.0         1.9%          395.4         428.6         8.4%
Diluted
Earnings
per           1.22       1.24       1.6%       3.31       3.56       7.4%
Share^3
(€)
Order            2,848         3,142                       8,674         8,812
Intake
Backlog       13,518     15,851                                   

* restated for retrospective application of amended IAS 19 standard “Employee
Benefits” as of January 1, 2013
^1 Operating income from recurring activities divided by revenue.
^2 Operating income from recurring activities before depreciation and
amortization.
^3 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.

Thierry Pilenko, Chairman and CEO, commented in detail on the quarter and the
outlook:

“In the third quarter, Technip's performance was contrasted between our two
activities. On the one hand, Onshore/Offshore was a good performer: segment
revenues were up 30% with margins of 6.6% in the middle of our target range.
On the other hand, Subsea revenues were up only 2% (after c. €100 million of
currency translation effects) although margins were at 14.7%, overall slightly
ahead of our expectations at the end of the second quarter. Subsea
profitability was affected by around €20 million of currency effects, €10
million of one-off costs (vessel depreciation) and a push-out of projects in
the Gulf of Mexico. In particular, the Deep Energy vessel is in the Gulf of
Mexico completing what has been, however, a significantly longer final
commissioning period than planned. Group cash flow was strong during the
quarter with e.g. €165 million of positive working capital, confirming the
trend we forecasted at the end of the first semester. Overall, revenues and
profit were held back across the Group by currency translation effects
(year-on-year around €150 million and €30 million respectively).

Order intake was strong at over €3 billion and included major project wins in
the Middle East and Brazil. We continued to execute our strategy during the
quarter with key alliances formed for example with China Huanqiu Contracting &
Engineering Corporation (HQC) in Onshore procurement and with Sasol in
gas-to-liquid (GTL). Progress on our strategic new assets continued –
including construction of manufacturing facilities, Açuflex in Brazil and
Newcaflex in England.

For the rest of the year, the contrast in our activities is likely to
continue. The fourth quarter in Subsea will see a busier schedule of
installation operations in the US Gulf of Mexico than planned. As a result,
there is an increased dependence in the region on managing schedule conflicts,
on which we are actively working with our customers, as well as on the
performance of the Deep Energy vessel on her first projects. Operations in
other regions have been successful over the last quarter but the US Gulf of
Mexico is important for segment profitability in the fourth quarter as there
is a lower level of subsea installation activity in those other regions.

We have revised our full year guidance as follows: for the Onshore/Offshore
segment, we expect full year revenues and margins towards the top of our
target range, revenues of around €5.2 billion, and operating margins between
6.5 and 7%. In Subsea, however, we expect full year revenues of around €4.1
billion. The fourth quarter revenues and currency impacts will hold back
profitability and full year Subsea margins, previously targeted around 15%,
are likely to be around 14%. Our revised guidance for both segments also
assumes that foreign exchange movements will affect revenue and margin in a
similar way as in the third quarter.

Looking ahead to 2014, we have a strong, diversified book of business for
execution across both segments to drive revenue growth. In Onshore/Offshore,
we will look to start 2014 in line with our long-term target margins. In
Subsea, we can confirm that there will be much less new asset start-up cost
compared to 2013 and the positive contribution of subsea installation work on
large, multi-year Subsea projects will materialize as the year progresses.

By the end of the year, we will have gained much greater clarity on the
schedule of new large, multi-year Subsea awards expected this year (including
TEN in Ghana announced this morning); the timing and extent of the first
orders for our new flexible pipe plant at Açu (which will determine the speed
and extent of its ramp-up in 2014), our plan to accelerate vessel maintenance
and enhancements in first half 2014, and the final close-out early next year
of the current Gulf of Mexico projects. Accordingly, we intend to communicate
further on 2014 by the end of December.

The medium-term trends for both segments – Subsea and Onshore/Offshore –
continue to be positive. Our broad, diversified client base continues to drive
ahead with key projects. We see project award momentum over the coming months
in for example downstream North America and Asia Pacific, large offshore
projects in Africa, pre-salt flexible pipe awards in Brazil and frontier
subsea areas like the West of Shetland in the North Sea. Accordingly, we will
continue to drive our strategic development in line with the key pillars of
our strategy. In the coming months we will remain most of all closely focused
on our current projects so as to maintain our strong execution track record.”

I. PORTFOLIO OF PROJECTS

1. Third Quarter 2013 Order Intake

During third quarter 2013, Technip’s order intake was €3,142.2 million. The
breakdown by business segment was as follows:

Order Intake (€ million)    3Q 2012    3Q 2013  
Subsea                      1,224.3    1,756.7
Onshore/Offshore               1,623.7       1,385.5
Total                       2,848.0    3,142.2

Subsea

Third quarter Subsea order intake included four new Pipe-Lay Support Vessels
(PLSVs) for Petrobras, two 300 ton top tension capacity to be built in Brazil
and two other 650 ton to be built in Norway, all vessels in 50/50 partnership
with DOF. In the US Gulf of Mexico, Technip will be in charge of the project
management, engineering, fabrication and installation of the production system
for the Stones gas pipeline in the Walker Ridge area, for which flowlines and
risers will be welded at our spoolbase in Mobile, Alabama, and offshore
installation will be performed by our Deep Blue pipelay vessel. A contract was
also awarded for the development of the Delta House field for the fabrication
and installation of flowlines and risers in deep waters, which will involve
both the Deep Blue and the G1200 vessels.

In Norway, Technip was awarded a contract by Statoil to fabricate and supply
flexible pipes for riser replacement, using our latest high-technology product
developments.

Onshore/Offshore

Onshore/Offshore order intake for the quarter included engineering,
procurement, and construction (EPC) projects for the Umm Lulu and FMB
platforms, respectively located in Abu Dhabi and Qatar, both of which will be
installed using Technip’s float-over method. In the US, order intake included
the early phases of a contract to design, supply and build two polyethylene
plants for Chevron Phillips Chemical in Texas, strengthening Technip’s
position in the US downstream market. This contract enters full EPC phase in
the fourth quarter. A contract was also won to supply Technip’s proprietary
ethylene technology and Front End Engineering Design (FEED) for an ethane
cracker at Sasol’s Lake Charles site, in Louisiana.

During the quarter, Technip signed several agreements and partnerships,
including a frame agreement with Petrobras for offshore project services in
Brazil, an alliance with Sasol for FEED services for future gas-to-liquid
(GTL) projects, and two joint ventures with China Huanqiu Contracting &
Engineering Corporation (HQC), reinforcing our position in the Chinese market.

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

2. Backlog by Geographic Area

At the end of the third quarter 2013, Technip’s backlog rose to €15.9 billion,
compared with €15.2 billion at the end of second quarter 2013, and €13.5
billion at the end of third quarter 2012. The movements in the backlog were
affected by currency fluctuations against the euro this quarter.

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

Backlog (€ million)             June 30,    Sept. 30,    Change   
                                   2013           2013
Europe, Russia, Central Asia    4,168       3,704        (11.1)%
Africa                             2,549          2,466           (3.3)%
Middle East                        1,204          1,777           47.5%
Asia Pacific                       2,963          2,785           (6.0)%
Americas                           4,301          5,119           19.0%
Total                           15,185      15,851       4.4%

3. Backlog Scheduling

Approximately 15% of the backlog is estimated to be scheduled for execution in
2013.

Backlog Estimated
Scheduling
                            Subsea    Onshore/Offshore    Group   
as of September 30, 2013
(€ million)
2013 (3 months)             1,014     1,385               2,399
2014                           2,978        3,766                  6,744
2015 and beyond                3,990        2,718                  6,708
Total                       7,982     7,869               15,851

II. THIRD QUARTER 2013 OPERATIONAL & FINANCIAL HIGHLIGHTS

In the third quarter 2013, foreign exchange had a negative impact year-on-year
estimated at around €150 million on revenue and a negative impact estimated at
around €30 million on operating income from recurring activities. The euro
appreciated strongly against all our main operating currencies compared to a
year ago, notably areas such as the North Sea and Brazil where we have
substantial subsea activity. Profitability was also impacted by accelerated
depreciation and additional charges for employee incentive plans.

1. Subsea

Subsea main operations for the quarter were as follows:

  *In the North Sea, our pipelay vessel Apache II performed works on the
    Gannet and Juliet projects in Scotland. In Norway, our new construction
    vessel the Deep Orient performed works on the Goliat and Åsgard projects,
    installed the smoothbore riser for the Norne field, and is now in transit
    to Asia. Ramp-up and engineering started for the design of large diameter
    steel flowlines for Snøhvit CO[2], while activities continued for the Quad
    204, Greater Stella and Bøyla projects.
  *In the Americas:

       *In Brazil, installation began for the first batch of Integrated
         Production Bundle risers and flowlines for the Papa-Terra field.
         Engineers started the detailed design of flexible pipes to be
         installed on the pre-salt field of Iracema Sul.
       *In the US Gulf of Mexico, many projects entered offshore phases in
         the quarter. The Deep Blue pipe-lay vessel completed works on the
         Walker Ridge gas gathering system and is currently installing
         flowlines and risers on the Jack and Saint Malo fields. The G1200
         finished the first pipeline installation on Williams Tubular Bells.
         In Canada, the first pipelines were installed for the recently
         awarded South White Rose Extension project.

  *In West Africa, the design of steel tube umbilicals and flexible pipes for
    the Egina field in Nigeria progressed. Engineering activities continued
    for the design of the flexible and rigid pipes for the Moho Nord project
    in Congo, whilst the CoGa project was completed.
  *In Asia Pacific, umbilicals were designed for the Wheatstone project in
    Australia. In Malaysia, engineering activities continued for the Prelude
    FLNG subsea scope as well as for the Malikai field gas pipelines.
    Meanwhile, offshore operations started for the Panyu project in China and
    the installation of steel tube umbilicals was initiated for Gumusut.
  *Overall Group vessel utilization rate for the third quarter 2013 was 75%
    compared with 77% for the third quarter 2012.

Subsea financial performance is set out in the following table. It was in
particular impacted by low growth in revenues in the quarter, the strong
appreciation of the Euro against all our main operating currencies, an one-off
depreciation charge against a vessel, as well as the push-out of projects in
the Gulf of Mexico.

€ million                          3Q 2012*    3Q 2013    Change  
Subsea                                                   
Revenue                               1,074.9        1,094.4       1.8%
EBITDA                                210.4          213.5         1.5%
EBITDA Margin                         19.6%          19.5%         (7)bp
Operating Income From Recurring       163.3          160.8         (1.5)%
Activities
Operating Margin                   15.2%       14.7%      (50)bp

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

Concerning assets, the construction of the two 550 ton pipelay vessels
continued well in Korea. Construction progressed as well on our new
high-technology flexible pipe manufacturing plant in Açu, Brazil. The main
building was nearly completed with the first delivery of machines and reels,
and operators pursued their training at our Vitoria plant, before transfer to
Açu. Our new pipelay vessel, the Deep Energy, transited to Mobile, Alabama, to
complete a commissioning period that is longer than planned. Meanwhile, in
England, the Newcaflex plant upgrade neared completion.

During the quarter, we paid €15 million in initial payments for the four new
PLSVs and will pay additional amounts in the fourth quarter. Capex for the
year will exceed €570 million accordingly.

2. Onshore/Offshore

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

  *In the Middle East, the  Jubail packages 2A and 5A were nearing
    completion, while procurement activities progressed for the Halobutyl
    project in Saudi Arabia. Engineering and procurement works ramped up for
    the BAPCO Sulfur Recovery Unit modification project in Bahrain, as well as
    for the Upper Zakum 750 EPC1 project in Abu Dhabi. The design phase
    started for the flares modification project awarded by Adma-Opco and for
    the Umm Lulu gas treatment field.
  *In Asia Pacific, in Malaysia, the construction of the hull and topsides
    for the Malikai Tension Leg Platform (TLP) was ongoing, as well as for the
    Petronas FLNG 1. In Australia, the design and procurement phases
    progressed for Ichthys’ Floating Production Storage and Offloading unit
    (FPSO), the Wheatstone’s gas processing platform neared completion, whilst
    the assembly of modules progressed in Korea for Shell’s Prelude FLNG.
  *In the Americas, in Canada, detailed engineering and design ramped up for
    a polyethylene expansion project. Procurement activities for the Westlake
    ethylene plant continued in Kentucky, whilst FEED activities started for
    the BG Trunkline LNG and neared completion for the Mosaic fertilizer, both
    in Louisiana. Other FEEDs progressed, notably Pacific NorthWest LNG in
    Canada, and Petrocarabobo and Petrourica in Venezuela. Meanwhile, in
    Mexico, on-site activities progressed for the Etileno XXI plant, and the
    main equipment was delivered. In Brazil, the design phase ramped up for
    the topsides of the P-76 FPSO.
  *Elsewhere, in Russia, detailed engineering started on the major Yamal LNG
    project. In Norway, engineering and procurement phases continued for the
    Aasta Hansteen Spar, whilst the first purchase orders were placed for the
    Martin Linge platform. In Finland, construction moved forward for the
    Heidelberg Spar at Technip’s yard in Pori. In Bulgaria, the procurement
    phase for the Burgas refinery was completed and its construction
    continued.

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

€ million                          3Q 2012*    3Q 2013    Change  
Onshore/Offshore                                         
Revenue                               1,011.0        1,317.5       30.3%
Operating Income From Recurring       72.4           86.9          20.0%
Activities
Operating Margin                   7.2%        6.6%       (57)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                          3Q 2012*    3Q 2013    Change  
Group                                                    
Revenue                               2,085.9        2,411.9       15.6%
Operating Income From Recurring       217.0          221.8         2.2%
Activities
Operating Margin                   10.4%       9.2%       (1.2)%

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

Financial result on contracts recognized as revenue amounted to €1.8 million
in third quarter 2013.

4. Group Net Income

Operating income was €222 million in the third quarter 2013, versus €213
million a year ago.

Financial result in third quarter 2013 included a €12.1 million negative
impact from changes in foreign exchange rates and fair market value of hedging
instruments, compared with a €9.5million positive impact last year.

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

€ million, except
Diluted Earnings per       3Q 2012*       3Q 2013        Change   
Share, and Diluted
Number of Shares
Operating Income           213.0          221.8          4.1%
Financial Result              (5.0)             (29.4)            5x
Share of Income /
(Loss) of Equity              -                 0.7               nm
Affiliates
Income Tax Expense            (59.2)            (41.6)            (29.7)%
Effective Tax Rate            28.5%             21.5%             (7.0)%
Non-Controlling               (1.6)             (1.5)             (6.3)%
Interests
Net Income                    147.2             150.0             1.9%
Diluted Number of             125,063,329       125,466,978       0.3%
Shares
Diluted Earnings per       1.22           1.24           1.6%
Share (€)

* 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 September 30, 2013, the Group’s net debt was €55 million compared to
€271 million at the end of June 2013.

Net Cash Position as of June 30, 2013                      (271.2)
Net Cash Generated from / (Used in) Operating Activities   404.1
of which:
Cash Generated from / (Used in) Operations                   238.9
Change in Working Capital Requirements                       165.2
Capital Expenditures                                         (175.0)
Dividends Paid                                               -
Other including FX Impacts                                 (12.9)
Net Cash Position as of September 30, 2013                 (55.0)

Capital expenditures for the third quarter 2013 increased to €175 million
compared to €110 million one year ago. Year-to-date, they amounted to €457
million versus €358 million one year ago. Capex for the year will exceed €570
million accordingly.

Shareholders’ equity as of September 30, 2013, was €4,084 million compared
with €3,962 million as of December 31, 2012, restated.

In October 2013, Technip issued three private placements with long maturities
for general corporate purposes (€125 million and €130 million over 10 years,
€100 million over 20 years) for an aggregate amount of €355 million.

III. FULL YEAR 2013 OBJECTIVES REVISED

  *Group revenue to between €9.3 and €9.4 billion
  *Subsea revenue lowered to around €4.1 billion
  *Subsea operating margin lowered to around 14%
  *Onshore/Offshore revenue raised to around €5.2 billion
  *Onshore/Offshore operating margin raised to between 6.5% and 7%

                                      °

                                     ° °

  The information package on Third 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, October 31, 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 42
UK:                                +44 (0)203 367 9461
USA:                               +1 866 907 5924

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          Confirmation  
                                   Numbers                   Code
France / Continental               +33 (0)1 72               283440#
Europe:                            00 15 00
UK:                                +44 (0)203                283440#
                                   367 9460
USA:                               +1 877 642                283440#
                                   3018

             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
                                                                                                                       
€ million             Third Quarter                                     9 Months
(Except Diluted
Earnings per
Share, and         2012*          2013           Change     2012*          2013           Change
Diluted Number
of Shares)
Revenue            2,085.9        2,411.9        15.6%      5,903.4        6,851.3        16.1%
Gross Margin       395.4          412.8          4.4%       1,108.4        1,208.5        9.0%
Research &
Development           (17.6)         (20.4)         15.9%         (50.2)         (51.1)         1.8%
Expenses
SG&A and Other     (160.8)        (170.6)        6.1%       (468.7)        (520.1)        11.0%
Operating
Income from        217.0          221.8          2.2%       589.5          637.3          8.1%
Recurring
Activities
Non-Current
Operating             (4.0)             -                 nm            (7.0)             -                 nm
Result
Operating          213.0          221.8          4.1%       582.5          637.3          9.4%
Income
Financial             (5.0)             (29.4)            5x            (31.1)            (48.4)            55.6%
Result
Share of Income
/
                      -                 0.7               nm            -                 0.8               nm
(Loss) of
Equity
Affiliates
Income / (Loss)    208.0          193.1          (7.2)%     551.4          589.7          6.9%
before Tax
Income Tax            (59.2)            (41.6)            (29.7)%       (153.0)           (157.9)           3.2%
Expense
Non-Controlling       (1.6)             (1.5)             (6.3)%        (3.0)             (3.2)             6.7%
Interests
Net Income /       147.2          150.0          1.9%       395.4          428.6          8.4%
(Loss)
                                                                                    
Diluted Number     125,063,329    125,466,978    0.3%       123,857,522    124,720,328    0.7%
of Shares
Diluted
Earnings per       1.22           1.24           1.6%       3.31           3.56           7.4%
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,  Sept. 30,                             
              2012      2013       3Q 2012  3Q 2013  9M 2012  9M 2013
USD for 1 EUR  1.32      1.35       1.25     1.32     1.28     1.32
GBP for 1 EUR  0.82      0.84       0.79     0.85     0.81     0.85
BRL for 1 EUR  2.70      3.04       2.54     3.03     2.46     2.79
NOK for 1 EUR  7.35      8.11       7.39     7.93     7.51     7.66

                                                                                                    
ANNEX I (c)
ADDITIONAL INFORMATION BY BUSINESS SEGMENT
IFRS, not audited
                                                         
                       Third Quarter                            9 Months
€ million           2012*      2013       Change    2012*      2013       Change
SUBSEA                                                                         
Revenue                1,074.9       1,094.4       1.8%         2,847.2       3,119.9       9.6%
Gross Margin           235.0         233.7         (0.6)%       642.6         691.3         7.6%
Operating Income
from Recurring         163.3         160.8         (1.5)%       426.8         454.6         6.5%
Activities
Operating Margin       15.2%         14.7%         (50)bp       15.0%         14.6%         (42)bp
Depreciation and       (47.1)        (52.7)        11.9%        (123.0)       (141.7)       15.2%
Amortization
EBITDA                 210.4         213.5         1.5%         549.8         596.3         8.5%
EBITDA Margin       19.6%      19.5%      (7)bp     19.3%      19.1%      (20)bp
ONSHORE/OFFSHORE
Revenue                1,011.0       1,317.5       30.3%        3,056.2       3,731.4       22.1%
Gross Margin           160.4         179.1         11.7%        465.8         517.2         11.0%
Operating Income
from Recurring         72.4          86.9          20.0%        214.0         249.9         16.8%
Activities
Operating Margin       7.2%          6.6%          (57)bp       7.0%          6.7%          (30)bp
Depreciation and    (6.8)      (10.3)     51.5%     (20.4)     (27.1)     32.8%
Amortization
CORPORATE
Operating Income
from Recurring         (18.7)        (25.9)        38.5%        (51.3)        (67.2)        31.0%
Activities
Depreciation and    -          -          nm        -          -          nm
Amortization

                                                                                       
ANNEX I (d)
REVENUE BY GEOGRAPHICAL AREA
IFRS, not audited
                                                                                                
               Third Quarter                             9 Months
€           2012*      2013       Change     2012*      2013       Change
million
Europe,
Russia,     662.9      841.4      26.9%      1,784.4    2,031.1    13.8%
Central
Asia
Africa      189.7      188.0      (0.9)%     506.7      517.8      2.2%
Middle      254.0      191.2      (24.7)%    794.8      715.8      (9.9)%
East
Asia        329.1      465.2      41.4%      937.3      1,374.6    46.7%
Pacific
Americas    650.2      726.1      11.7%      1,880.2    2,212.0    17.6%
TOTAL       2,085.9    2,411.9    15.6%      5,903.4    6,851.3    16.1%

* 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*       Sept. 30, 2013
€ million                         (not audited)     (not audited)
Fixed Assets                         6,033.4              6,175.0
Deferred Tax Assets               332.1             306.6
Non-Current Assets                6,365.5           6,481.6
Construction Contracts –             454.3                735.4
Amounts in Assets
Inventories, Trade Receivables       2,504.8              2,779.1
and Other
Cash & Cash Equivalents           2,289.3           2,174.9
Current Assets                    5,248.4           5,689.4
Assets Classified as Held for     9.9               -
Sale
                                                  
Total Assets                      11,623.8          12,171.0
                                                  
Shareholders’ Equity (Parent         3,948.9              4,070.4
Company)
Non-Controlling Interests         13.2              13.5
Shareholders’ Equity              3,962.1           4,083.9
                                                  
Non-Current Financial Debts          1,705.7              2,031.1
Non-Current Provisions               229.0                248.4
Deferred Tax Liabilities and      285.8             303.7
Other Non-Current Liabilities
Non-Current Liabilities           2,220.5           2,583.2
                                                  
Current Financial Debts              400.4                198.8
Current Provisions                   361.0                256.5
Construction Contracts –             873.0                1,132.0
Amounts in Liabilities
Trade Payables & Other            3,806.8           3,916.6
Current Liabilities               5,441.2           5,503.9
                                                  
Total Shareholders’ Equity &      11,623.8          12,171.0
Liabilities
                                                  
Net Cash Position                 183.2             (55.0)

Statement of Changes in Shareholders’ Equity (Parent Company)
not audited (€ million):
Shareholders’
Equity as of                                 3,948.9
December 31, 2012*
9 Months 2013 Net                                                     428.6
Income
9 Months 2013 Other
Comprehensive                                                         (153.0)
Income
Capital Increase                                                      24.7
Treasury Shares                                                       (30.9)
Dividends Paid                                                        (186.0)
Other                                                                 38.1
Shareholders’
Equity as of                                 4,070.4
September 30, 2013

* restated for retrospective application of amended IAS 19 standard “Employee
Benefits” as of January 1, 2013 and restated with assessment of purchase price
allocation of Stone and Webster Process technologies

                                                                       
ANNEX III (a)
CONSOLIDATED STATEMENT OF CASH FLOWS
IFRS, not audited
                                                                             
                       9 Months
€ million           2012*                    2013
Net Income /
(Loss) of the          395.4                 428.6     
Parent Company
Depreciation &
Amortization of        143.4                       168.8
Fixed Assets
Stock Options
and Performance        30.0                        35.9
Share Charges
Non-Current
Provisions
(including             13.5                        22.6
Employee
Benefits)
Deferred Income        57.4                        35.1
Tax
Net (Gains) /
Losses on
Disposal of            (5.7)                       (5.5)
Assets and
Investments
Non-Controlling
Interests and          23.5                        26.2
Other
                                                                             
Cash Generated
from / (Used in)       657.5                       711.7
Operations
                                                                             
Change in
Working Capital        (442.1)                     (265.0)
Requirements
                                                                             
Net Cash
Generated from /
(Used in)                            215.4                       446.7
Operating
Activities
                                                 
Capital                (357.6)                     (456.5)
Expenditures
Proceeds from
Non-Current            41.5                        12.7
Asset Disposals
Acquisitions of        (3.3)                       -
Financial Assets
Acquisition
Costs of
Consolidated           (240.1)                     (8.2)
Companies, Net
of Cash acquired
                                                                             
Net Cash
Generated from /
(Used in)                            (559.5)                     (452.0)
Investing
Activities
                                                 
Net Increase /
(Decrease) in          (54.1)                      173.2
Borrowings
Capital Increase       114.0                       24.7
Dividends Paid         (172.6)                     (186.0)
Share Buy-Back         (82.6)                      (40.0)
                                                                             
Net Cash
Generated from /
(Used in)                            (195.3)                     (28.1)
Financing
Activities
                                                 
Net Effects of
Foreign Exchange                     16.5                        (81.4)
Rate Changes
                                                                             
Net Increase /
(Decrease) in                        (522.9)                     (114.8)
Cash and Cash
Equivalents
                                                 
Bank Overdrafts
at Period              (0.1)                       (0.3)
Beginning
Cash and Cash
Equivalents at         2,808.7                     2,289.3
Period Beginning
Bank Overdrafts        (1.6)                       (0.7)
at Period End
Cash and Cash
Equivalents at         2,287.3                     2,174.9
Period End
                                     (522.9)                     (114.8)

* 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*  Sept. 30, 2013
€ million                    (not audited)   (not audited)
Cash Equivalents              965.7            929.9
Cash                          1,323.6          1,245.0
Cash & Cash Equivalents (A)  2,289.3         2,174.9
Current Financial Debts       400.4            198.8
Non-Current Financial Debts   1,705.7          2,031.1
Gross Debt (B)               2,106.1         2,229.9
Net Cash Position (A – B)    183.2           (55.0)

* 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           Sept. 30, 2012    Sept. 30, 2013    
Subsea                 6,119.6              7,981.3              30.4%
Onshore/Offshore       7,398.8              7,869.2              6.4%
Total               13,518.4          15,850.5          17.3%

                                 ANNEX IV (b)
                               CONTRACT AWARDS
                                 not audited

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

Subsea Segment:

  *Important contract for project management, engineering and manufacture of
    76 kilometers of steel tube umbilicals for the Egina field at water depths
    ranging from 1,150 to 1,750 meters: Total Upstream Nigeria Ltd, offshore
    Nigeria,
  *Two flexible pipe supply contracts for the Egina field for which Technip’s
    Flexi France manufacturing plant in Le Trait will fabricate the flexible
    pipes: Total Upstream Nigeria Ltd, offshore Nigeria,
  *A substantial contract for engineering, procurement, installation and
    construction (EPIC) Ltd for the Alder field for a tieback to the Britannia
    Bridge Link Platform (BLP), at a water depth of approximately 150 meters:
    Chevron North Sea Ltd, central North Sea, Scotland,
  *Eight contracts covering the construction and operations of four new
    Pipe-Lay Support Vessels (PLSVs) to install flexible pipes, in joint
    venture with DOF: Petrobras, Brazilian waters, Brazil,
  *Important engineering, procurement and installation (EPCI) contract for
    the development of subsea infrastructure for the Stones field located at a
    water depth of approximately 2,900 meters: Shell, Walker Ridge area, Gulf
    of Mexico, USA,
  *Important five-year contract for the supply of highly-resistant steel
    wires by ArcelorMittal in its Bourg-en-Bresse site, for the development of
    Technip’s oil and gas offshore fields, with the aim of strengthening its
    wire activities in the long term: ArcelorMittal, Bourg-en-Bresse, France,
  *Supply contract to fabricate and deliver flexible risers for the renewal
    of the flexible pipe based infrastructure on several operated fields:
    Statoil, Norwegian Continental Shelf, Norway.

Onshore/Offshore Segment:

  *Significant contract to supply proprietary technology, engineering and
    procurement services for two hydrogen reformers, 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,
  *An important engineering, procurement, and supply contract for the Moho
    Phase 1bis development consisting of tie-backs to the existing deepwater
    Alima Floating Production Unit (FPU) and the shallow-water N’Kossa
    platform: Total E&P Congo, offshore Pointe Noire, in the Republic of
    Congo,
  *A contract for the conceptual engineering study, the basic engineering
    design (BED), as well as for the procurement of key equipment, for a
    mid-scale liquefied natural gas (LNG) plant: Shaanxi LNG Investment &
    Development Co Ltd, Yangling Demonstration Area, Shaanxi Province, China,
  *Supply contract for Technip’s proprietary reforming technology as well as
    EPCI of the No. 2 hydrogen plant equipment at NCRA’s refinery, in
    consortium with its construction partner Performance Contractors Inc.:
    National Cooperative Refinery Association (NCRA), McPherson, Kansas, USA,
  *Technip and Sasol established an alliance for front-end engineering
    services for future GTL projects. This also allows Technip’s to
    participate in the execution stages of future GTL projects,
  *A front-end engineering and design (FEED) contract awarded by Trunkline
    LNG Export, LLC for the potential expansion of the existing liquefied
    natural gas (LNG) import terminal: Trunkline LNG Export, Lake Charles,
    Louisiana, USA,
  *Major contract for the detailed engineering, procurement, fabrication,
    offshore installation, commissioning and start-up of six bridge-linked
    platforms, in a consortium led by National Petroleum Construction Company
    (NPCC): Abu Dhabi Marine Operating Company (ADMA-OPCO), Umm Lulu Full
    Field, United Arab Emirates,
  *Four-year frame agreement with Petrobras for project modifications
    services for the Rio de Janeiro Operations Unit (UO-RIO), including
    existing offshore platforms: Petrobras, Campos Basin area, Brazil,
  *Technip and China Huanqiu Contracting & Engineering Corporation (HQC)
    created two joint ventures to improve access to the European and Chinese
    procurement markets, based in Rome, Italy and Beijing, China,
  *Technip and Shell Cansolv signed an agreement to offer a full chain of
    engineering, procurement and construction (EPC) services for a
    post-combustion CO[2] Capture and Sequestration (CCS) to the power
    generation industry.

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

Onshore/Offshore Segment:

  *Substantial contract for the design, supply and installation of two
    polyethylene plants with capacity of 500,000 metric tons per annum, in a
    partnership with Zachry Industrial called Gulf Coast Partners: Chevron
    Phillips Chemical Company LP (Chevron Phillips Chemical), Old Ocean,
    Texas, USA,
  *Contract to supply proprietary ethylene technology and FEED for a
    world-class grassroots ethane cracker which will produce an estimated 1.5
    million tons per annum of ethylene: Sasol, Lake Charles, Louisiana, USA,

Contract awarded for the engineering, procurement, installation and
commissioning for the important FMB offshore project comprising a living
quarter platform and a utility platform connected by a bridge: Qatar
Petroleum, offshore Qatar.

Since September 30, 2013, Technip has also announced the award of the
following contracts, which were not included in the backlog as of September
30, 2013:

Subsea Segment:

  *Contract for the development of the Delta House field; covering more than
    200 kilometers of infield, export flowlines and risers at water depths of
    approximately 100 to 2,000 meters: LLOG Exploration Offshore L.L.C,
    Mississippi Canyon area, Gulf of Mexico, USA,
  *Two contracts for the engineering, fabrication and installation of
    flexible pipes, rigid flowlines and umbilicals for the TEN field, at water
    depths reaching 2,000 meters, in a consortium with Subsea 7: Tullow Ghana
    Limited, offshore Ghana.

Onshore/Offshore Segment:

  *Major engineering, procurement, construction, installation and
    commissioning (EPCIC) contract for the development of two gas fields in
    Block SK316 at a water depth of 100 meters, in a joint venture with
    Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE): Petronas Carigali,
    North of Bintulu, Sarawak, Malaysia.

Contact:

Technip
Analyst and Investor Relations
Kimberly Stewart, +33 (0)1 47 78 66 74
kstewart@technip.com
or
David Tadbir, +33 (0)1 40 90 19 04
dtadbir@technip.com
or
Public Relations
Christophe Bélorgeot, +33 (0)1 47 78 39 92
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