By Anna Peverieri and Alban Kacher
(Reuters) – French infrastructure and technology company Technip Energies on Thursday proposed a 49% dividend increase, as it reported fourth-quarter sales ahead of market expectations.
Technip will recommend a cash dividend of 0.85 euros per share for 2024 at its May 6 shareholder meeting, compared with 0.57 euros per share a year ago.
The group, which specialises in engineering and technology for the energy industry, posted fourth-quarter adjusted sales of 1.88 billion euros ($1.97 billion), while analysts expected on average 1.76 billion euros, according to a company-compiled consensus.
The French engineering company’s adjusted backlog rose 24% to 19.56 billion euros last year, providing about three years of visibility on revenue, it said.
Technip said it saw high potential in the decarbonisation and circularity markets, with a real acceleration compared to traditional markets.
“These are the fastest-growing markets we’ve positioned ourselves in. They are growing at 20 to 25% a year, and that gives us strong growth potential,” group CEO Arnaud Pieton told reporters on a call.
The group signed several major contracts in the fourth quarter, boosting its order intake. It was awarded a 1 billion euro deal for TotalEnergies’ Suriname FPSO project, as well as a 2 billion to 3 billion euro order for the Net Zero Teesside (NZT) Power project in the UK, the world’s first gas power plant with carbon capture.
The group reiterated its 2025 targets, announced last November at its capital markets day.
($1 = 0.9539 euros)
(Reporting by Anna Peverieri and Alban Kacher; Editing by Jamie Freed)
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