Technip SA (TKPPY.PK,TNHPF.PK), a French company for project management, engineering and construction for the energy industry, reported Wednesday a higher profit in its first quarter on increased revenues. Order intake, meanwhile, declined from last year. The company also backed its fiscal 2013 revenue forecast.
The company's first-quarter net income increased 3.6 percent to 116.2 million euros from last year's 112.2 million euros. Earnings per share improved 2.7 percent to 0.97 euro from 0.94 euro last year.
Revenue of 2.02 billion euros climbed 14.2 percent from prior year's 1.77 billion euros.
In the quarter, revenue in both segments increased, reflecting the strong project awards over the last two years.
EBITDA margin, meanwhile, dropped 34 basis points to 11.3 percent.
The company's order intake fell to 2.91 billion euros from last year's 3.31 billion euros. Backlog climbed 19.7 percent to 14.78 billion euros.
Thierry Pilenko, Chairman and CEO, said, "Whilst there has been more volatility in underlying commodity prices during the last few weeks, we continue to see good opportunities for new orders in all our regions, even if the timing of individual awards remains uncertain."
Looking ahead, the company continues to expect group revenue growth of 11 percent to 16 percent to between 9.1 billion euros and 9.5 billion euros.
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