Technip Energies N.V. (TE.PA) Thursday reported profit before tax of 278.1 million euros for the first half, slightly lower than 278.6 million euros in the same period a year ago, primarily impacted by share of loss of equity-accounted investees.
The company recorded share of loss of equity-accounted investees of 5.6 million euros compared with profit of 23.8 million euros last year.
Excluding one-time items, adjusted profit before tax decreased to 280.2 million euros from 280.8 million euros.
Net profit increased to 189.3 million euros or 1.06 euros per share from 186.4 million euros or 1.03 euros per share in the same period a year ago.
Adjusted net profit grew to 191 million euros or 1.07 euros per share from 188.1 million euros or 1.04 euros per share last year.
Operating profit was 234.6 million euros, up from 200.9 million euros in the prior year. Adjusted operating profit rose to 231.7 million euros from 223.7 million euros.
Adjusted EBIT or adjusted earnings before interest and taxes increased 3% to 228.8 million euros from 223.2 million euros.
Revenue for the period grew to 3.601 billion euros from 3.039 billion euros in the previous year. Adjusted revenue rose 15% year-on-year to 3.646 billion euros.
For the full year, the company continues to expect Project Delivery revenue of 5.2 billion euros-5.6 billion euros, and Technology, Products and Services revenue of 1.8 billion euros - 2.2 billion euros.
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