Technip Energies N.V. (THNPY) H1 2023 Earnings Call Transcript

Technip Energies N.V. (OTCPK:THNPY) H1 2023 Earnings Call July 27, 2023 7:00 AM ET

Company Participants

Phillip Lindsay – Head of Investor Relations

Arnaud Pieton – Chief Executive Officer

Bruno Vibert – Chief Financial Officer

Conference Call Participants

Bertrand Hodée – Kepler Cheuvreux

Daniel Thomson – BNP Paribas Exane

Guillaume Delaby – Societe Generale

Jean-Luc Romain – CIC Market Solutions

Victoria McCulloch – RBC

Good afternoon. This is the conference operator. Welcome everyone to Technip Energies’ Half Year 2023 Financial Results and Conference Call. As a reminder, all participants are in listen-only mode. After the presentation, there will be an opportunity to ask questions. [Operator Instructions]

Now, I would like to turn the conference over to Mr. Phillip Lindsay, Head of Investor Relations of Technip Energies. Please go ahead, sir.

Phillip Lindsay

Thank you, Alethia. Hello to everybody, and welcome to Technip Energies financial results for the first half of 2023. On the call today are CEO, Arnaud Pieton; and our CFO, Bruno Vibert, who will present our business and financial highlights as well as the outlook. This will be followed by Q&A. Before we start, I would urge you to take note of the forward-looking statements on Slide 2.

I will now pass the call over to Arnaud.

Arnaud Pieton

Thank you, Phil, and welcome to our financial results presentation for the first half, where we have delivered on a broad range of operational, commercial and strategic objectives.

Revenues of EUR2.8 billion reflect strong momentum in TPS and lower project delivery activity resulting from the maturity of the portfolio, as well as our exit from the Arctic LNG 2 project. But we expect project delivery activity to increase sequentially in the second half.

Strong execution enabled us to deliver 100 basis points of margin improvement year-over-year, and with profitability trending

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