Technip’s Fourth Quarter and Full Year 2013 Results

Regulatory News:

On February 18, 2014, Technip’s Board of Directors (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) approved the full year 2013 consolidated accounts.

€ million (Except Diluted Earnings per Share)		FY 12*		FY 13		Change		4Q 12*		4Q 13		Change
Revenue		8,203.9		9,336.1		13.8%		2,300.5		2,484.8		8.0%
EBITDA2		1,023.6		1,078.0		5.3%		290.7		271.9		(6.5)%
EBITDA Margin		12.5%		11.5%		(93)bp		12.6%		10.9%		(169)bp
Operating Income from Recurring Activities		828.7		844.5		1.9%		239.2		207.2		(13.4)%
Operating Margin		10.1%		9.0%		(106)bp		10.4%		8.3%		(206)bp
Operating Income		819.2		844.5		3.1%		236.7		207.2		(12.5)%
Net Income		543.3		563.1		3.6%		147.9		134.5		(9.1)%
Diluted Earnings per Share3 (€)		4.53		4.68		3.3%		1.22		1.11		(9.0)%
Dividend per Share4 (€)		1.68		1.85		10.1%
Order Intake		11,649		11,999				2,975		3,188
Backlog		14,251		16,581

* restated for retrospective application of amended IAS 19 standard "Employee Benefits” as of January 1, 2013
¹ Operating income from recurring activities divided by revenue.
² Operating income from recurring activities before depreciation and amortization.
³ As per IFRS, diluted earnings per share are calculated by dividing profit or loss attributable to the Parent Company’s Shareholders, restated from financial interest related to dilutive potential ordinary shares, by the weighted average number of outstanding shares during the period, plus the effect of dilutive potential ordinary shares related to the convertible bonds, dilutive stock options and performance shares calculated according to the "Share Purchase Method” (IFRS 2), less treasury shares. In conformity with this method, anti-dilutive stock options are ignored in calculating EPS. Dilutive options are taken into account if the subscription price of the stock options plus the future IFRS 2 charge (i.e. the sum of annual charge to be recorded until the end of the stock option plan) is lower than the average market share price during the period.
⁴ Recommendation of Technip’s Board of Directors to be approved during the Annual General Shareholders’ Meeting (AGM) on April 24, 2014.

Thierry Pilenko, Chairman and CEO, commented:

"2013 was a year of both achievements and challenges. In Onshore/Offshore, our 2013 operational performance was overall in line with our objectives. We made good progress in completing major projects such as the Lucius Spar and the Jubail refinery. In Subsea, after 9 months of revenue and profit growth, we had to revise our expectations for the fourth quarter. However, project delivery was good in many areas, notably for example the North Sea. It is important to note that the Group met all its revised financial and operational goals for the fourth quarter.

Throughout the year, we were able to add value to our clients, thanks to our sustained recent investments in people, assets, technology and geographic presence, both organically and by acquisition. Consequently, we were awarded a record level of orders worth €12 billion. These include the first orders for our new Açu flexible pipe plant in Brazil, the Moho Nord project in Congo utilizing our S-Lay fleet, the CP Chem downstream investment in the US and a major project management consultancy assignment in Kuwait, both capitalizing on the Stone and Webster Process Technologies acquisition in 2012.

Our year-end backlog stands at €16.6 billion and is profitable and well diversified by segment, client and geography. Our relatively high level of visibility on our business outlook has enabled us to set out realistic and achievable financial targets for these two years. These targets are reiterated in full today. Accordingly, following the growth in 2013 of our revenues, profit and cashflow, we propose to shareholders a 10% increase in our dividend to €1.85 per share.

Looking forward, our clients’ capex continues to increase globally, even if at a more moderate rate than in the past decade. Some themes remain clear in our industry - amongst them the fast depletion of older reservoirs, the abundance of new finds potentially to replace them, a long-term trend towards gas production, the importance of shale oil and gas to the US onshore market. For some years now, larger projects have taken longer to sanction, but recent actual project awards as well as announcements confirm that our clients remain focused on moving most of them forward. More and more, they are engaging their supply chain in the definition and implementation of fit-for-purpose solutions.

Technip is well placed to benefit from its presence in regions such as Brazil, Africa and North America, as well as technology areas such as (F)LNG, where client investment is rising. We are consistently able to help our clients optimize their investments, participating in projects from conceptual, through to FEED and, notably, value-engineering phases. We can offer technology and engineering solutions to make projects, large and small, cost-effective. We see the benefits of our positioning today in our ability to take many projects on the basis of our added-value. For the medium-term, this is manifested in a growing number of long-term alliances with clients and industrial partners, such as Shell, ExxonMobil, BP, Sasol, COOEC, Huanqiu and Heerema.

Our focus in the year ahead will be on demonstrating our execution capability, delivering our projects safely and reliably, so as to drive profitable growth over 2014, 2015 and beyond. We will maintain our strategic direction – profitability and diversification in our project portfolio, prudent investment in key assets, development of proprietary technology, and being closer to our clients through local presence and investment. We expect the result to be a reinforcement of our leading position in our industry.”

I. PROJECT PORTFOLIO

1. Fourth Quarter 2013 Order Intake

During fourth quarter 2013, Technip’s order intake was €3,187.6 million. The breakdown by business segment was as follows:

Order Intake (€ million)				4Q 2012				4Q 2013
Subsea				914.1				1,596.4
Onshore/Offshore				2,061.0				1,591.2
Total				2,975.1				3,187.6

Subsea order intake was supported by the award of T.E.N. in Ghana, where Technip will supply and install umbilicals, flowlines and risers. In the North Sea, Technip was also awarded several contracts that included brownfield works, notably diving operations and subsea welding for the Edvard Grieg field. In Malaysia, after the Front-End Engineering Design (FEED), a contract for the installation of 75km of pipeline for the development of Block SK316 was awarded.

Onshore/Offshore order intake included the full notice to proceed for the design and supply of two polyethylene production units, with our construction partner, in the USA. The American downstream market remained active with the award of a technology and FEED for an ethylene project, as well as a FEED for a Gas-To-Liquid (GTL) facility, both located in Louisiana. In Kuwait, Technip was awarded a five-year Project Management Consultancy (PMC) contract to support its client for the development of new facilities as well as for the upgrade of existing ones. In Malaysia, along with the subsea scope, Technip will design, build and install Block SK316 central processing platform which will be linked to a well-head platform.

Listed in annex IV (b) are the main contracts announced since October 2013 and their approximate value if publicly disclosed.

2. Backlog by Geographic Area

At the end of the fourth quarter 2013, Technip’s backlog rose to €16.6 billion, compared with €15.9 billion at the end of third quarter 2013, and €14.3 billion at the end of fourth quarter 2012.

The backlog remains diversified in terms of project types, sizes, technologies and geographical areas as set-out in the table below:

Backlog (€ million)				Sept. 30, 2013				Dec. 31, 2013				Change
Europe, Russia, Central Asia				3,704				4,172				12.6%
Africa				2,466				2,778				12.6%
Middle East				1,777				1,585				(10.8)%
Asia Pacific				2,785				2,638				(5.3)%
Americas				5,119				5,409				5.7%
Total				15,851				16,581				4.6%

3. Backlog Scheduling

Approximately 47% of the backlog is estimated to be scheduled for execution in 2014.

Backlog Estimated Scheduling as of December 31, 2013 (€ million)				Subsea				Onshore/Offshore				Group
2014				3,427				4,314				7,741
2015				2,913				2,596				5,509
2016+ and beyond				2,302				1,029				3,331
Total				8,642				7,939				16,581

II. FOURTH QUARTER 2013 OPERATIONAL & FINANCIAL HIGHLIGHTS

1. Subsea

Subsea main operations for the quarter were as follows:

• In the Americas:
  • In the US Gulf of Mexico: progress was made on completing the seven projects whose progress had impacted our fourth quarter performance. Both the Deep_Blue and the Deep Energy worked offshore intensively during the quarter. The Deep Energy completed her first campaign on the Walker Ridge gas gathering system followed by the installation of umbilicals for the Lucius field. Meanwhile the Deep_Blue laid flowlines and risers on the Jack and Saint Malo fields, and continued the installation of risers on Tubular Bells.
  • In Brazil, delivery of flexible pipes for the Tupi pre-salt field was completed, while manufacturing of the second batch of Integrated Production Bundle risers and flowlines for the Papa-Terra field progressed. Detailed design and procurement for flexible pipes to be allocated on the Sapinhoa, Lula Nordeste and Iracema Sul pre-salt fields continued.
  • In Canada, the Hibernia Southern Extension Project was completed, while the South White Rose Extension project continued.
• In the North Sea, offshore operations were completed on Gannet by the Apache II and on Brynhild fields, respectively located in Scotland and in Norway. The Greater Stella and Quad 204 projects progressed well, as did the Åsgard Subsea Compression project in Norway. Meanwhile, engineering and procurement continued on the Bøyla, Snøhvit CO2 and Gullfaks projects, all located in Norway, and on the Golden Eagle project in Scotland.
• In West Africa, engineering activities progressed and initial purchase orders were placed for the Moho Nord project in Congo. In Nigeria the design of steel tube umbilicals and flexible pipes continued for the Egina field. Mobilization and engineering development started on the T.E.N. project in Ghana.
• In Asia Pacific, detailed engineering progressed for the subsea scopes of the Prelude and Malikai projects, respectively located in Australia and Malaysia. Design of umbilicals continued for the Wheatstone project in Australia. In the meantime, offshore operations started on the Gumusut project where the Deep Orient installed steel tube umbilicals, in Malaysia.

Overall the Group vessel utilization rate for the fourth quarter 2013 was 69%, compared with 78% for the fourth quarter 2012.

Subsea financial performance is set out in the following table. It was particularly impacted year on year by the projects in the US Gulf of Mexico, low offshore activities elsewhere and the appreciation of the euro against all our main operating currencies.

€ million				4Q 2012*				4Q 2013				Change
Subsea
Revenue				1,200.4				963.1				(19.8)%
EBITDA				220.6				183.3				(16.9)%
EBITDA Margin				18.4%				19.0%				66bp
Operating Income From Recurring Activities				179.4				130.0				(27.5)%
Operating Margin				14.9%				13.5%				(145)bp

* restated for retrospective application of amended IAS 19 standard "Employee Benefits” as of January 1, 2013

Concerning assets, the Deep Energy was commissioned and completed her first operations. In South Korea the construction of the two 550 ton flexible pipelay vessels for long-term charter progressed according to plan. In Brazil the commissioning of equipment started at our Açu flexible pipe manufacturing plant. Meanwhile the four flexible pipelay vessels for the pre-salt development entered engineering phase. In the UK, commissioning of the Newcastle plant upgrade started.

We continued to selectively dispose of older assets, completing the sale of the Iroquois and the Hercules during the quarter.

2. Onshore/Offshore

Onshore/Offshore main operations for the quarter were as follows:

• In the Middle East, we started to handover the Jubail package 5A to our client, while commissioning activities continued on package 2A. Still in Saudi Arabia, along with procurement and civil construction activities, mechanical works on Halobutyl project started. In Qatar, the PMP project progressed. In Bahrain, engineering and procurement works continued for the Sulfur Recovery Unit modification project. Civil works were carried out on the first of four artificial islands that will receive the Upper Zakum 750 facilities in Abu Dhabi. Mobilization started up on the Umm Lulu gas treatment project in Abu Dhabi, as well as on the FMB platforms project in Qatar.
• In Asia Pacific, in Australia, engineering and procurement activities for the Wheatstone gas processing platform progressed towards completion. Those for Ichthys’ Floating Production Storage and Offloading unit (FPSO) continued. The topsides module assembly of the Prelude FLNG was carried forward. In New Caledonia, the second line of the Koniambo nickel processing plant started-up. In Malaysia, the hull and topsides construction, for both Malikai Tension Leg Platform (TLP) and Petronas FLNG1, continued, while mobilization was initiated for the engineering and procurement phases of the Block SK316 project.
• In the Americas, in Canada the Pacific NorthWest LNG FEED progressed. Mobilisation ramped up on the CP Chem polyethylene expansion project. Work progressed on a number of conceptual and early-stage engineering studies for LNG and ethylene projects. In Mexico, main equipment was delivered and construction works started on the Ethylene XXI plant. In Brazil the engineering of P-76 FPSO topsides progressed.
• Elsewhere, engineering and procurement activities progressed for the Aasta Hansteen Spar and the Martin Linge platform, both to be installed in Norway. In Bulgaria construction works were carried forward at the Burgas refinery. In Finland, at Technip’s yard in Pori, construction of the Heidelberg Spar continued. In India, the procurement phase continued for the Purified Terephthalic Acid (PTA) unit and engineering and procurement activities progressed for the Heera Redevelopment (HRD) process platform project.

Onshore/Offshore financial performance is set out in the following table:

€ million				4Q 2012*				4Q 2013				Change
Onshore/Offshore
Revenue				1,100.1				1,521.7				38.3%
Operating Income From Recurring Activities				80.3				101.9				26.9%
Operating Margin				7.3%				6.7%				(60)bp

* restated for retrospective application of amended IAS 19 standard "Employee Benefits” as of January 1, 2013

3. Group

Technip Group’s Operating Income From Recurring Activities including Corporate charges as detailed in annex I (c) is set out in the following table:

€ million				4Q 2012*				4Q 2013				Change
Group
Revenue				2,300.5				2,484.8				8.0%
Operating Income From Recurring Activities				239.2				207.2				(13.4)%
Operating Margin				10.4%				8.3%				(206)bp

* restated for retrospective application of amended IAS 19 standard "Employee Benefits” as of January 1, 2013

In fourth quarter 2013, foreign exchange had a negative impact of €131 million on revenue and a negative impact of €9 million on operating income from recurring activities compared to the same period 12 months ago. The euro appreciated strongly against all our main operating currencies compared to a year ago, notably in areas such as the North Sea and Brazil, where we have substantial subsea activity.

4. Group Net Income

Operating income was €207 million in the fourth quarter 2013, versus €237 million a year ago.

Financial result in fourth quarter 2013 included a €25.8 million negative impact from changes in the fair market value of hedging instruments, compared with a €8.7 million negative impact last year.

The variation in Diluted Number of Shares was minimal, being mainly due to stock options granted to Technip’s employees, partially offset by stock repurchase programs.

€ million, except Diluted Earnings per Share, and Diluted Number of Shares				4Q 2012*				4Q 2013				Change
Operating Income				236.7				207.2				(12.5)%
Financial Result				(36.2)				(35.9)				(0.8)%
Share of Income / (Loss) of Equity Affiliates				1.0				0.3				nm
Income Tax Expense				(53.2)				(33.4)				(37.2)%
Effective Tax Rate				26.4%				19.5%				(690)bp
Non-Controlling Interests				(0.4)				(3.7)				9.3x
Net Income				147.9				134.5				(9.1)%
Diluted Number of Shares				125,455,066				125,993,971				0.4%
Diluted Earnings per Share (€)				1.22				1.11				(9.0)%

* restated for retrospective application of amended IAS 19 standard "Employee Benefits” as of January 1, 2013

5. Cash Flow and Statement of Financial Position

As of December 31, 2013, the Group’s net cash position was €663 million compared to a negative position of €55 million at the end of September 2013 and positive position of €183 million at end December 2012.

Cash* as of September 30, 2013				2,174.2
Net Cash Generated from / (Used in) Operating Activities				871.8
Net Cash Generated from / (Used in) Investing Activities				(99.9)
Net Cash Generated from / (Used in) Financing Activities				352.8
FX Impacts				(60.3)
Cash* as of December 31, 2013				3,238.6

*Cash and cash equivalents including bank overdrafts

Capital expenditures net of disposals for the fourth quarter 2013 were €100 million compared to €159 million one year ago. This reflects continued investment in assets such as the Açu facility in Brazil, and the impact of the sale of assets such as older vessels.

Shareholders’ equity as of December 31, 2013, was €4,174 million compared with €3,962 million as of December 31, 2012, restated.

In October 2013, Technip issued three private placements with long maturities for general corporate purposes (€125 million and €130 million over 10 years, €100 million over 20 years) for an aggregate amount of €355 million.

III. FULL YEAR 2013 FINANCIAL RESULTS

1. Subsea

Subsea revenue in 2013 reflected a mix of deep and shallow water projects as well as small to very large awards during the year. Most of the regions where Technip operates showed signs of active business, in particular West Africa and Brazil. Operational performance was satisfactory overall in all regions except the Gulf of Mexico which impacted financial performance in Q4.

Subsea EBITDA margin was 19.1% for full year 2013 versus 19.0% in 2012 and operating margin was 14.3% for full year 2013 versus 15.0% in 2012, reflecting the progress of large projects in their early phases, the start-up costs of various assets such as the Deep Energy and Açu manufacturing plant, and the operational performance on projects in the Gulf of Mexico in the last quarter of the year.

Subsea financial performance is set out in the following table:

€ million				FY 2012*				FY 2013				Change
Subsea
Revenue				4,047.6				4,083.0				0.9%
EBITDA				770.4				779.6				1.2%
EBITDA Margin				19.0%				19.1%				6bp
Operating Income From Recurring Activities				606.2				584.6				(3.6)%
Operating Margin				15.0%				14.3%				(66)bp

* restated for retrospective application of amended IAS 19 standard "Employee Benefits” as of January 1, 2013

2. Onshore/Offshore

Onshore/Offshore revenue reflected growth in our backlog and progress on diversified projects around the world, including onshore downstream projects in the USA, and offshore production facility projects in the Gulf of Mexico, Asia Pacific and Middle East.

Onshore/Offshore operating margin was 6.7% for full year 2013 versus 7.1% in 2012.

Onshore/Offshore financial performance is set out in the following table:

€ million				FY 2012*				FY 2013				Change
Onshore/Offshore
Revenue				4,156.3				5,253.1				26.4%
Operating Income From Recurring Activities				294.3				351.8				19.5%
Operating Margin				7.1%				6.7%				(38)bp

* restated for retrospective application of amended IAS 19 standard "Employee Benefits” as of January 1, 2013

3. Group

Technip Group’s Operating Income From Recurring Activities including Corporate charges as detailed in annex I (c) is set out in the following table:

€ million				FY 2012*				FY 2013				Change
Group
Revenue				8,203.9				9,336.1				13.8%
Operating Income From Recurring Activities				828.7				844.5				1.9%
Operating Margin				10.1%				9.0%				(106)bp

* restated for retrospective application of amended IAS 19 standard "Employee Benefits” as of January 1, 2013

In 2013, foreign exchange had a negative translation impact of €355 million on revenue and a negative translation impact of €46 million on operating income from recurring activities compared to 2012.

4. Group Net Income

Operating income was €845 million in 2013 versus €819 million a year ago.

Financial result in 2013 included a €84.3 million negative impact from interest expenses as well as changes in foreign exchange rates and fair market value of hedging instruments, compared with a €67.3 million negative impact last year.

The variation in diluted number of shares is mainly due to the potential dilution of convertible bonds (OCEANE), capital increase for Technip employees, and share subscription options and performance shares granted to Technip employees, offset by share repurchase programs.

€ million, except Diluted Earnings per Share, and Diluted Number of Shares				FY 2012*				FY 2013				Change
Operating Income				819.2				844.5				3.1%
Financial Result				(67.3)				(84.3)				25.3%
Share of Income / (Loss) of Equity Affiliates				1.0				1.1				nm
Income Tax Expense				(206.2)				(191.3)				(7.2)%
Effective Tax Rate				27.4%				25.1%				(230)bp
Non-Controlling Interests				(3.4)				(6.9)				102.9%
Net Income				543.3				563.1				3.6%
Diluted Number of Shares				124,419,663				124,777,476				0.3%
Diluted Earnings per Share (€)				4.53				4.68				3.3%

* restated for retrospective application of amended IAS 19 standard "Employee Benefits” as of January 1, 2013

5. Cash Flow and Statement of Financial Position

As of December 31, 2013 the Group’s net cash position was €663 million, compared to €183 million at end 2012, reflecting the profitability of the Group, a good working capital performance in the second half of the year, and an increase in capital expenditures.

Cash* as of December 31, 2012**				2,289.0
Net Cash Generated from / (Used in) Operating Activities				1,318.6
Net Cash Generated from / (Used in) Investing Activities				(551.9)
Net Cash Generated from / (Used in) Financing Activities				324.6
FX Impacts				(141.7)
Cash* as of December 31, 2013				3,238.6

*Cash and cash equivalents including bank overdrafts
** restated for retrospective application of amended IAS 19 standard "Employee Benefits” as of January 1, 2013 and restated with assessment of purchase price allocation of Stone and Webster Process technologies

Capital expenditures net of disposals in 2013 amounted to €556 million versus €492 million one year ago, underlying our sustained effort to introduce new differentiating assets. We sold a number of older vessel assets during the second half of the year.

Total capital expenditures for 2014 are expected to be modestly lower than 2013, and will be in particular dedicated to the construction and delivery of PLSVs. Additional investment will be focused on the replacement of older vessels.

IV. FULL YEAR 2014 OUTLOOK

• Subsea revenue growing to between €4.35 and €4.75 billion, with operating margin of at least 12%
• Onshore/Offshore revenue growing to between €5.4 and €5.7 billion, with operating margin between 6% and 7%

V. FULL YEAR 2015 OUTLOOK

• Subsea revenue to be well above €5 billion, with operating margin between 15% and 17%
• Onshore/Offshore revenue growing modestly with stable operating margin

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The information package on Fourth Quarter and Full Year 2013 results includes this press release and the annexes which follow, as well as the presentation published on Technip’s website: www.technip.com

Audit procedures on the consolidated financial statements are complete. The audit opinion will be issued once all audit procedures required for the filing of the Reference Document are finalized.

NOTICE

Today, Thursday, February 20, 2014, Chairman and CEO Thierry Pilenko, along with CFO Julian Waldron, will comment on Technip’s results and answer questions from the financial community during a conference call in English starting at 9:30 a.m. CET.

To participate in the conference call, you may call any of the following telephone numbers approximately 5 - 10 minutes prior to the scheduled start time:

France / Continental Europe:				+33 (0)1 70 77 09 35
UK:				+44 (0)203 367 9462
USA:				+1 866 907 5923

The conference call will also be available via a simultaneous, listen-only audio-cast on Technip’s website.

A replay of this conference call will be available approximately two hours following the conference call for 90 days on Technip’s website and for two weeks at the following telephone numbers:

				Telephone Numbers				Confirmation Code
France / Continental Europe:				+33 (0)1 71 00 15 00				285363#
UK:				+44 (0)203 367 9460				285363#
USA:				+1 877 642 3018				285363#

Cautionary note regarding forward-looking statements

This presentation contains both historical and forward-looking statements. These forward-looking statements are not based on historical facts, but rather reflect our current expectations concerning future results and events, and generally may be identified by the use of forward-looking words such as "believe”, "aim”, "expect”, "anticipate”, "intend”, "foresee”, "likely”, "should”, "planned”, "may”, "estimates”, "potential” or other similar words. Similarly, statements that describe our objectives, plans or goals are or may be forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by these forward-looking statements. Risks that could cause actual results to differ materially from the results anticipated in the forward-looking statements include, among other things: our ability to successfully continue to originate and execute large services contracts, and construction and project risks generally; the level of production-related capital expenditure in the oil and gas industry as well as other industries; currency fluctuations; interest rate fluctuations; raw material (especially steel) as well as maritime freight price fluctuations; the timing of development of energy resources; armed conflict or political instability in the Arabian-Persian Gulf, Africa or other regions; the strength of competition; control of costs and expenses; the reduced availability of government-sponsored export financing; losses in one or more of our large contracts; U.S. legislation relating to investments in Iran or elsewhere where we seek to do business; changes in tax legislation, rules, regulation or enforcement; intensified price pressure by our competitors; severe weather conditions; our ability to successfully keep pace with technology changes; our ability to attract and retain qualified personnel; the evolution, interpretation and uniform application and enforcement of International Financial Reporting Standards (IFRS), according to which we prepare our financial statements as of January 1, 2005; political and social stability in developing countries; competition; supply chain bottlenecks; the ability of our subcontractors to attract skilled labor; the fact that our operations may cause the discharge of hazardous substances, leading to significant environmental remediation costs; our ability to manage and mitigate logistical challenges due to underdeveloped infrastructure in some countries where we are performing projects.

Some of these risk factors are set forth and discussed in more detail in our Annual Report. Should one of these known or unknown risks materialize, or should our underlying assumptions prove incorrect, our future results could be adversely affected, causing these results to differ materially from those expressed in our forward-looking statements. These factors are not necessarily all of the important factors that could cause our actual results to differ materially from those expressed in any of our forward-looking statements. Other unknown or unpredictable factors also could have material adverse effects on our future results. The forward-looking statements included in this release are made only as of the date of this release. We cannot assure you that projected results or events will be achieved. We do not intend, and do not assume any obligation to update any industry information or forward-looking information set forth in this release to reflect subsequent events or circumstances.

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This presentation does not constitute an offer or invitation to purchase any securities of Technip in the United States or any other jurisdiction. Securities may not be offered or sold in the United States absent registration or an exemption from registration. The information contained in this presentation may not be relied upon in deciding whether or not to acquire Technip securities.

This presentation is being furnished to you solely for your information, and it may not be reproduced, redistributed or published, directly or indirectly, in whole or in part, to any other person. Non-compliance with these restrictions may result in the violation of legal restrictions of the United States or of other jurisdictions.

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Technip is a world leader in project management, engineering and construction for the energy industry.

From the deepest Subsea oil & gas developments to the largest and most complex Offshore and Onshore infrastructures, our 40,000 people are constantly offering the best solutions and most innovative technologies to meet the world’s energy challenges.

Present in 48 countries, Technip has state-of-the-art industrial assets on all continents and operates a fleet of specialized vessels for pipeline installation and subsea construction.

Technip shares are listed on the NYSE Euronext Paris exchange and ADR is traded in the US on the OTCQX marketplace as an American Depositary Receipt (OTCQX: TKPPY).

ANNEX I (a)
CONSOLIDATED STATEMENT OF INCOME
IFRS
		Fourth Quarter Not audited						Full Year Audited
€ million
(Except Diluted Earnings per Share, and Diluted Number of Shares)		2012*		2013		Change		2012*		2013		Change
Revenue		2,300.5		2,484.8		8.0%		8,203.9		9,336.1		13.8%
Gross Margin		443.2		408.9		(7.7)%		1,551.6		1,617.4		4.2%
Research & Development Expenses		(18.5)		(24.4)		31.9%		(68.7)		(75.5)		9.9%
SG&A and Other		(185.5)		(177.3)		(4.4)%		(654.2)		(697.4)		6.6%
Operating Income from Recurring Activities		239.2		207.2		(13.4)%		828.7		844.5		1.9%
Non-Current Operating Result		(2.5)		-		nm		(9.5)		-		nm
Operating Income		236.7		207.2		(12.5)%		819.2		844.5		3.1%
Financial Result		(36.2)		(35.9)		(0.8)%		(67.3)		(84.3)		25.3%
Share of Income / (Loss) of Equity Affiliates		1.0		0.3		nm		1.0		1.1		nm
Income / (Loss) before Tax		201.5		171.6		(14.8)%		752.9		761.3		1.1%
Income Tax Expense		(53.2)		(33.4)		(37.2)%		(206.2)		(191.3)		(7.2)%
Non-Controlling Interests		(0.4)		(3.7)		825.0%		(3.4)		(6.9)		102.9%
Net Income / (Loss)		147.9		134.5		(9.1)%		543.3		563.1		3.6%
Diluted Number of Shares		125,455,066		125,993,971		0.4%		124,419,663		124,777,476		0.3%
Diluted Earnings per Share (€)		1.22		1.11		(9.0)%		4.53		4.68		3.3%

* restated for retrospective application of amended IAS 19 standard "Employee Benefits” as of January 1, 2013

ANNEX I (b)
FOREIGN CURRENCY CONVERSION RATES
IFRS
		Closing Rate as of				Average Rate of
		Dec. 31, 2012		Dec. 31, 2013		4Q 2012		4Q 2013		FY 2012		FY 2013
USD for 1 EUR		1.32		1.38		1.30		1.36		1.29		1.33
GBP for 1 EUR		0.82		0.83		0.81		0.84		0.81		0.85
BRL for 1 EUR		2.70		3.26		2.67		3.10		2.51		2.87
NOK for 1 EUR		7.35		8.36		7.37		8.24		7.48		7.81

ANNEX I (c)
ADDITIONAL INFORMATION BY BUSINESS SEGMENT
IFRS
		Fourth Quarter Not audited						Full Year Audited
€ million		2012*		2013		Change		2012*		2013		Change
SUBSEA
Revenue		1,200.4		963.1		(19.8)%		4,047.6		4,083.0		0.9%
Gross Margin		264.5		212.6		(19.6)%		907.1		903.9		(0.4)%
Operating Income from Recurring Activities		179.4		130.0		(27.5)%		606.2		584.6		(3.6)%
Operating Margin		14.9%		13.5%		(145)bp		15.0%		14.3%		(66)bp
Depreciation and Amortization		(41.2)		(53.3)		29.4%		(164.2)		(195.0)		18.8%
EBITDA		220.6		183.3		(16.9)%		770.4		779.6		1.2%
EBITDA Margin		18.4%		19.0%		66bp		19.0%		19.1%		6bp
ONSHORE/OFFSHORE
Revenue		1,100.1		1,521.7		38.3%		4,156.3		5,253.1		26.4%
Gross Margin		178.7		196.3		9.8%		644.5		713.5		10.7%
Operating Income from Recurring Activities		80.3		101.9		26.9%		294.3		351.8		19.5%
Operating Margin		7.3%		6.7%		(60)bp		7.1%		6.7%		(38)bp
Depreciation and Amortization		(10.3)		(11.4)		10.7%		(30.7)		(38.5)		25.4%
CORPORATE
Operating Income from Recurring Activities		(20.5)		(24.7)		20.5%		(71.8)		(91.9)		28.0%
Depreciation and Amortization		-		-		nm		-		-		nm

ANNEX I (d)
REVENUE BY GEOGRAPHICAL AREA
IFRS
		Fourth Quarter Not audited						Full Year Audited
€ million		2012		2013		Change		2012		2013		Change
Europe, Russia, Central Asia		629.7		680.0		8.0%		2,414.1		2,711.1		12.3%
Africa		222.3		285.0		28.2%		729.0		802.8		10.1%
Middle East		352.8		244.1		(30.8)%		1,147.6		959.9		(16.4)%
Asia Pacific		393.7		569.8		44.7%		1,331.0		1,944.4		46.1%
Americas		702.0		705.9		0.6%		2,582.2		2,917.9		13.0%
TOTAL		2,300.5		2,484.8		8.0%		8,203.9		9,336.1		13.8%

* restated for retrospective application of amended IAS 19 standard "Employee Benefits” as of January 1, 2013

ANNEX II
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
IFRS
		Dec. 31, 2012*		Dec. 31, 2013
€ million		(audited)		(audited)
Fixed Assets		6,033.8		6,136.5
Deferred Tax Assets		333.0		274.8
Non-Current Assets		6,366.8		6,411.3
Construction Contracts – Amounts in Assets		454.3		405.0
Inventories, Trade Receivables and Other		2,504.1		3,189.7
Cash & Cash Equivalents		2,289.3		3,241.0
Current Assets		5,247.7		6,835.7
Assets Classified as Held for Sale		9.9		4.0
Total Assets		11,624.4		13,251.0
Shareholders’ Equity (Parent Company)		3,948.9		4,156.8
Non-Controlling Interests		13.2		17.3
Shareholders’ Equity		3,962.1		4,174.1
Non-Current Financial Debts		1,705.7		2,403.4
Non-Current Provisions		229.0		261.8
Deferred Tax Liabilities and Other Non-Current Liabilities		285.8		254.1
Non-Current Liabilities		2,220.5		2,919.3
Current Financial Debts		400.4		174.5
Current Provisions		361.0		220.9
Construction Contracts – Amounts in Liabilities		873.0		1,721.4
Trade Payables & Other		3,807.4		4,040.8
Current Liabilities		5,441.8		6,157.6
Total Shareholders’ Equity & Liabilities		11,624.4		13,251.0
Net Cash Position		183.2		663.1
Statement of Changes in Shareholders’ Equity (Parent Company)
Audited (€ million):
Shareholders’ Equity as of December 31, 2012*		3,948.9
Full Year 2013 Net Income		563.1
Full Year 2013 Other Comprehensive Income		(206.4)
Capital Increase		25.6
Treasury Shares		(38.6)
Dividends Paid		(186.0)
Other		50.2
Shareholders’ Equity as of December 31, 2013		4,156.8

* restated for retrospective application of amended IAS 19 standard "Employee Benefits” as of January 1, 2013 and restated with assessment of purchase price allocation of Stone and Webster Process technologies

ANNEX III (a)
CONSOLIDATED STATEMENT OF CASH FLOWS
IFRS, audited
		Full Year
€ million		2012*				2013
Net Income / (Loss) of the Parent Company		543.3				563.1
Depreciation & Amortization of Fixed Assets		194.9				233.5
Stock Options and Performance Share Charges		48.6				46.0
Non-Current Provisions (including Employee Benefits)		17.2				22.9
Deferred Income Tax		54.3				13.8
Net (Gains) / Losses on Disposal of Assets and Investments		(5.6)				(18.7)
Non-Controlling Interests and Other		30.9				36.7
Cash Generated from / (Used in) Operations		883.6				897.3
Change in Working Capital Requirements		(438.9)				421.3
Net Cash Generated from / (Used in) Operating Activities				444.7				1,318.6
Capital Expenditures		(518.9)				(623.0)
Proceeds from Non-Current Asset Disposals		43.8				79.3
Acquisitions of Financial Assets		(3.3)				-
Acquisition Costs of Consolidated Companies, Net of Cash acquired		(245.0)				(8.2)
Net Cash Generated from / (Used in) Investing Activities				(723.4)				(551.9)
Net Increase / (Decrease) in Borrowings		(39.8)				525.0
Capital Increase		115.8				25.6
Dividends Paid		(172.6)				(186.0)
Share Buy-Back		(107.9)				(40.0)
Net Cash Generated from / (Used in) Financing Activities				(204.5)				324.6
Net Effects of Foreign Exchange Rate Changes				(36.4)				(141.7)
Net Increase / (Decrease) in Cash and Cash Equivalents				(519.6)				949.6
Bank Overdrafts at Period Beginning		(0.1)				(0.3)
Cash and Cash Equivalents at Period Beginning		2,808.7				2,289.3
Bank Overdrafts at Period End		(0.3)				(2.4)
Cash and Cash Equivalents at Period End		2,289.3				3,241.0
				(519.6)				949.6

* restated for retrospective application of amended IAS 19 standard "Employee Benefits” as of January 1, 2013

ANNEX III (b)
CASH & FINANCIAL DEBTS
IFRS audited
		Cash and Financial Debts
		Dec. 31, 2012*		Dec. 31, 2013
€ million
Cash Equivalents		965.7		1,580.4
Cash		1,323.6		1,660.6
Cash & Cash Equivalents (A)		2,289.3		3,241.0
Current Financial Debts		400.4		174.5
Non-Current Financial Debts		1,705.7		2,403.4
Gross Debt (B)		2,106.1		2,577.9
Net Cash Position (A – B)		183.2		663.1

* restated for retrospective application of amended IAS 19 standard "Employee Benefits” as of January 1, 2013

ANNEX IV (a)
BACKLOG
not audited
		Backlog by Business Segment
		As of		As of		Change
€ million		Dec. 31, 2012		Dec. 31, 2013
Subsea		6,049.8		8,642.1		42.8%
Onshore/Offshore		8,200.8		7,938.9		(3.2)%
Total		14,250.6		16,581.0		16.4%

ANNEX IV (b)
CONTRACT AWARDS
not audited

The main contracts we announced during the fourth quarter 2013 were the following:

Subsea Segment:

• Contract for the development of the Delta House field; covering more than 200 kilometers of infield, export flowlines and risers at water depths of approximately 100 to 2,000 meters: LLOG Exploration Offshore L.L.C, Mississippi Canyon area, Gulf of Mexico, USA,
• Two contracts for the engineering, fabrication and installation of flexible pipes, rigid flowlines and umbilicals for the T.E.N. field, at water depths reaching 2,000 meters, in a consortium with Subsea 7: Tullow Ghana Limited, offshore Ghana,
• Four contracts for Subsea maintenance services including inspection, repair, maintenance, decommissioning, asset integrity management and brownfield construction: Shell UK, North Sea,
• Important framework contract aimed to connect the oil pipeline from the Edvard Grieg platform to the existing Grane oil export pipeline, towards the Sture terminal. The Platform will link the Utsira high gas pipeline to the Scottish Area Gas Evacuation: Statoil, Edvard Grieg field, Norway,
• Joint-venture agreement, five years, to target engineering, procurement, construction and installation Subsea, Umbilicals Risers and Flowlines (SURF) projects at a water depth greater than 200 meters: China Offshore Oil Engineering Co. Ltd, China.

Onshore/Offshore Segment:

• Substantial contract for the design, supply and installation of two polyethylene plants with capacity of 500,000 metric tons per annum, in a partnership with Zachry Industrial called Gulf Coast Partners: Chevron Phillips Chemical Company LP (Chevron Phillips Chemical), Old Ocean, Texas, USA,
• Contract to supply proprietary ethylene technology and FEED for a world-class grassroots ethane cracker which will produce an estimated 1.5 million tons per annum of ethylene: Sasol, Lake Charles, Louisiana, USA,
• Contract awarded for the engineering, procurement, installation and commissioning for the important FMB offshore project comprising a living quarter platform and a utility platform connected by a bridge: Qatar Petroleum, offshore Qatar,
• Major engineering, procurement, construction, installation and commissioning (EPCIC) contract for the development of two gas fields in Block SK316 at a water depth of 100 meters, in a joint venture with Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE): Petronas Carigali, North of Bintulu, Sarawak, Malaysia,
• A FEED contract awarded for a gas-to-liquids (GTL) facility with a capacity of more than 96,000 barrels per standard day: Sasol, Louisiana, USA,
• Extension of its long-standing agreement with BP in the purified terephthalic acid (PTA). Technip to become also the exclusive provider of the Inside Battery Limit (ISBL) FEED to BP for third-party licensing: BP, worldwide agreement,
• Contract for consultancy services, project management and engineering for the next five years, with an option for an additional period of one year, to build new oil and gas infrastructure facilities, as well as the upgrading of existing facilities: Kuwait Oil Company, Kuwait,
• Contract for the supply of its proprietary ethylene technology and process design package for a grassroots 1,000 kilo-ton per annum. It also covers technical support during detailed engineering, pre-commissioning and start-up: CNOOC Oil & Petrochemicals Company Ltd, Huizhou, China.

Since December 31, 2013, Technip has also announced the award of the following contracts, which were included in the backlog as of December 31, 2013:

Subsea Segment:

• Two ultra-deep water contracts for the supply of flexible pipes intended to use at a water depth of up to 2,500 meters: Petrobras, Santos Basin, Brazil,
• Substantial contract for future intervention services on the Asgard Subsea Compression Stations: Statoil, Norwegian Sea, Norway,
• Substantial EPCI contract for the construction and installation of the Jalilah B platform and 110 kilometers of pipelines at a water depth reaching 60 meters: Dubai Petroleum Establishment, offshore Dubai, United Arab Emirates.

Onshore/Offshore Segment:

• Contract for project management consultancy services for the EPC phases of the Zakum Oil Line Replacement Project-Phase 1 (ZKOL). The first phase consists of about 90 kilometers of oil pipelines replacement and associated wellhead towers modification work: Abu Dhabi Marine Operating Company, offshore Abu Dhabi, United Arab Emirates.

Since December 31, 2013, Technip has also announced the award of the following contracts, which were not included in the backlog as of December 31, 2013:

Onshore/Offshore Segment:

• Contract to supply proprietary furnace technology and services for a grassroots furnace at Kazan. The project consists of the engineering and procurement of an SMKTM double-cell cracking furnace: Open Joint Stock Company Kazanorgsintez, Republic of Tatarstan, Russia.