Technip Energies misses third-quarter profit forecast on acquisition costs, project delays

Reuters10-30

Technip Energies misses third-quarter profit forecast on acquisition costs, project delays

By Alban Kacher

Oct 30 (Reuters) - French energy infrastructure company Technip Energies TE.PA on Thursday reported third-quarter core profit below expectations, as acquisition-related costs and project delays weighed.

Adjusted recurring EBITDA came in at 159 million euros ($185.4 million), missing the 167 million expected on average by analysts, according to a company-compiled consensus.

The shortfall was linked to higher costs from investments in the textile-to-textile recycling firm Reju and the acquisition of Ecovyst's Advanced Materials & Catalysts business, said group CFO Bruno Vibert during a media call.

In the third quarter, the Paris-listed group's non-recurring expenses rose more than three-fold to 49.4 million euros, from 16.4 million euros a year ago.

Technip's Technology, Products & Services business, which generated around 30% of the group's revenue last year, faced project delays, notably in the U.S., Vibert said.

Technip expects the segment's top line to deliver around the lower end of the guidance range this year, Vibert added.

The group confirmed its full-year outlook for 2025.

($1 = 0.8575 euros)

(Reporting by Alban Kacher. Editing by Jane Merrman)

((Alban.kacher@thomsonreuters.com; +48 58 769 65 87))

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