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Last €51.62 EUR
Change Today +1.88 / 3.78%
Volume 1.1M
TEC On Other Exchanges
Symbol
Exchange
Munich
EN Paris
OTC US
OTC US
Berlin
Mexico
As of 11:35 AM 07/29/15 All times are local (Market data is delayed by at least 15 minutes).

technip sa (TEC) Snapshot

Open
€49.80
Previous Close
€49.74
Day High
€51.80
Day Low
€49.06
52 Week High
08/27/14 - €71.32
52 Week Low
01/13/15 - €44.91
Market Cap
6.0B
Average Volume 10 Days
807.9K
EPS TTM
€3.88
Shares Outstanding
116.5M
EX-Date
04/29/15
P/E TM
13.3x
Dividend
€2.00
Dividend Yield
3.87%
Current Stock Chart for TECHNIP SA (TEC)

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technip sa (TEC) Details

Technip SA provides project management, engineering, and construction services for the energy sector in Europe, the Russian Federation, Central Asia, Africa, the Middle-East, the Asia Pacific, and the Americas. It operates through Subsea and Onshore/Offshore segments. The Subsea segment provides design, engineering, manufacturing, and installation services for infrastructures and subsea pipe systems used in oil and gas production and transportation. Its services include delivery of subsea systems, primarily pipelay and subsea construction; maintenance and repair of existing subsea infrastructures; and replacement or removal of subsea equipment. This segment also manufactures manufactures critical equipments, such as umbilicals and flexible pipes. The Onshore/Offshore segment designs and builds various types of facilities for the development of onshore oil and gas fields, as well as renovates existing facilities by modernizing production equipment and control systems. It also engages in the design, construction, and start-up of complex refineries or single refinery units; and design, construction, and commissioning of ethylene production plants and hydrogen and synthesis gas production units, as well as natural gas treatment and liquefaction facilities, and petrochemical and fertilizers processing plants. In addition, this signet is involved in the engineering studies and execution of production units in the fields of biofuels, geothermal, concentration solar power, and offshore wind farms; and provision of engineering and construction services to mining and metal projects. Further, it designs, manufactures, and installs fixed and floating platforms for producing and processing oil and gas reserves located offshore. Technip SA was founded in 1958 and is headquartered in Paris, France.

38,000 Employees
Last Reported Date: 04/23/15
Founded in 1958

technip sa (TEC) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: €1.8M
Compensation as of Fiscal Year 2014.

technip sa (TEC) Key Developments

Technip, SACE and Midor Signs Agreement for the Alexandria Refinery

Technip Italy S.p.A. and SACE announced the finalization of a joint agreement with Midor (Middle East Oil Refinery) for a project to modernize and expand the MIDOR refinery near Alexandria, Egypt in the frame of the long-standing cooperation between Italian and Egyptian Governments and companies, especially in the Oil and Gas sector. The investment has an estimated total value of $1.4 billion and aims at improving the production quality of the plant, considered the most advanced of the African continent, by increasing its refining capacity from 100,000 to 160,000 barrels of crude oil per day. SACE commits to launch the evaluation process in order to ensure an export credit facility to support the project. Technip will in parallel start the activities on the project. In due course, Technip will take responsibility for the EPC phase of the project.

Trans Adriatic Pipeline AG Selects Technip for a Contract for Project Management Services

Technip has been awarded by TAP a Project Management Consultancy (PMC) Services contract, for a project designed to transport gas from the Shah Deniz field to the European market. TAP project scope includes an approximately 870 kilometer long pipeline, which will start from the tie-in with the TANAP portion of the Southern Gas Corridor project, at the Greece/Turkey border. The pipeline will then go through Greece and Albania, to eventually cross subsea the Adriatic Sea to end in Puglia, Italy, where it will connect to the Italian natural gas network. The project aims at enhancing security of supply as well as diversifying gas resources in the European market. TAP will open a new route for natural gas from the Caspian Sea region. It is designed to transport 10 BCM/y with a potential future expansion to 20 BCM/y, as more gas becomes available. The PMC contract awarded to Technip will cover the onshore portion of the pipeline from Greece to Albania and in Italy. The services will include the overall project and site management, procurement and subcontracting for all the EPC packages throughout the engineering, procurement and construction phases, as well as warranty management and the project close-out. The project completion is scheduled for the first quarter of 2020. The services will be mainly performed at TAP’s headquarters in Baar, Switzerland, and Technip’s office in Rome, Italy. Other project centres will be operating in Greece, Albania and Italy. Technip will leverage its class expertise and high performance standards in project management of complex international projects to help TAP to deliver its project successfully.

Technip SA Plans to Cut Approximately 6,000 Jobs Globally as Part of Restructuring Efforts

Technip SA announced on July 6, 2015 it plans to cut approximately 6,000 jobs globally as part of restructuring efforts. The company did not give a specific timeline or details about where the job cuts would occur. Some of the trends impacting company, which focuses on offshore engineering and construction, in the wake of low oil prices have not improved or have worsened over the past two months Therefore, the company is accelerating its cost reduction and efficiency efforts, which are expected to save EUR 830 million, or approximately $917.86 million, by the end of 2017. In company's subsea segment, which is outperforming initial expectations, there will be some cost reductions in markets where new project awards are under pressure, such as the North Sea. The company will also reduce its subsea fleet by two more vessels, in addition to the two vessels it had already planned to take out this year 2015. More of the restructuring plan will focus on company's onshore/offshore segment, which has had unsatisfactory performance. The company will reduce its presence, through sales or closures, in some markets that are not expected to be profitable even in the medium term. Such markets could include selected countries in Europe, Asia and Latin America, including Brazil. The company also has put aside some projects where it will take time to resolve disputes with clients on changes and variations. The company will incur one-off charges of EUR 650 million, or approximately $718.81 million, to cover all aspects of the restructuring and workforce reductions.

 

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Industry Analysis

TEC

Industry Average

Valuation TEC Industry Range
Price/Earnings 14.1x
Price/Sales 0.6x
Price/Book 1.4x
Price/Cash Flow 13.1x
TEV/Sales NM Not Meaningful
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