Technip Energies H1 2026: €12.7bn order intake and €25bn backlog
- Order intake of €12.7bn increased backlog to €25bn, equivalent to around three years of revenue.
- H1 revenue was €3.7bn and EBITDA €212m after recognition of provisions related to the Middle East situation.
- Free cash flow, excluding working capital and provisions, was €183m, an 86% conversion from EBITDA.
- 2026 guidance updated: Project Delivery revenue €5.7–6.3bn with EBITDA margin >5.0% (previously 6.5–7.5%); TPS revenue €1.9–2.2bn with EBITDA margin ~15% (previously ~14.5%).
H1 financial performance
Technip Energies reported H1 2026 revenue of €3.7bn and EBITDA of €212m after recognising provisions tied to operational and contractual impacts from the Middle East situation. Free cash flow excluding working capital and provisions was €183m, representing an 86% conversion from EBITDA.
Guidance update
The company updated conditional 2026 guidance: Project Delivery revenue remains €5.7–6.3bn but the EBITDA margin target was lowered to >5.0% (previously 6.5–7.5%). Technology, Product & Services revenue guidance is unchanged at €1.9–2.2bn, with an increased EBITDA margin expectation of ~15% (previously ~14.5%).
Orders and backlog
Order intake in H1 reached €12.7bn, driving backlog to €25bn—more than 50% higher year-to-date and roughly three times annual revenue. Major Q2 awards included Commonwealth LNG (first US project using SnapLNG™) and Coral Norte FLNG in Mozambique.
Middle East impact and outlook
Management said all personnel in the Middle East are safe and projects remain mobilised, with activity stabilising in Q2. The company took prudent provisions given ongoing conflict and expects contractual cost recovery subject to timing and commercial discussions. Technip Energies cited increased demand for energy sovereignty, fast-track projects and an improving pipeline in LNG, offshore, energy derivatives and sustainable fuels, with additional order intake expected from 2027 through the end of the decade.
Source: T.EN