Technip Energies reported a record backlog of EUR25 billion, up more than 50% year to date, driven by a first-half order intake of EUR12.7 billion. Revenue was stable at EUR3.7 billion, but recurring EBITDA fell roughly one-third to EUR212 million due to operational challenges in the Middle East. Project Delivery margins dropped to 4.3%, down 350 basis points, and the company lowered its full-year Project Delivery margin guidance to 5% plus. The Technology, Products, and Services segment improved its recurring EBITDA margin to 15.4%, and the company raised its TPS margin guidance by 50 basis points. Gross cash reached a record EUR4.8 billion, with economic net cash exceeding EUR900 million, and the company committed to EUR300 million in total capital returns for 2026.
Technip Energies BVRecurring EBITDA fell ~33% and Project Delivery margin guidance lowered to 5%+