Technip Energies H1 2026 Financial Results

TECHNIP ENERGIES H1 2026 FINANCIAL RESULTS

Managing the near-term; Strengthening long-term fundamentals

Paris, Thursday, July 30, 2026. Technip Energies (the “Company”), a global technology & engineering powerhouse leading in energy and decarbonization infrastructure, today announces its unaudited financial results for the first half of 2026.

Arnaud Pieton, Chief Executive Officer of Technip Energies, commented:

“Technip Energies’ (T.EN) first-half performance reflected a particularly complex operating environment. While we delivered stable year-over-year revenues, EBITDA margins were impacted by operational and contractual challenges linked to the situation in the Middle East. Importantly, we continued to reinforce the fundamentals that support our longer-term growth, with exceptional order intake, a significantly expanded backlog, and increased capital returns to shareholders.”

“In the Middle East, all T.EN personnel are safe and well, and our projects remain fully mobilized, with activity stabilizing through the second quarter. In our first-half results, we have taken a prudent assessment of the situation, reflecting the continuation of the conflict and its associated disruption and secondary cost impacts. While cost recovery is expected under strong contractual protections, the extent and timing will depend on the evolving situation and commercial discussions. This affects our full-year outlook and, assuming no change to current operating conditions in the second half, we are reducing Project Delivery margin guidance. At the same time, we have raised our margin expectation for Technology, Products & Services (TPS) on the back of a strong first half.”

“On the commercial front, we achieved exceptional first-half order intake of €12.7 billion, with substantial year-over-year growth in Project Delivery. This drove group backlog up by more than 50 percent year-to-date to €25 billion, equivalent to around three times full year revenue and reinforcing our medium-term growth trajectory. Given the scale of awards already secured, full-year order intake is expected to be concentrated in the first half, notably in Project Delivery.”

“Major second-quarter awards included Commonwealth LNG, our first LNG project in the United States utilizing our SnapLNG™ modular solution, as well as Coral Norte FLNG in Mozambique, which demonstrates our leadership in floating liquefaction and the value of replication. Our diversification strategy is also delivering results, with around 75 percent of new awards over the last 24 months originating outside the Middle East.”

“The Strait of Hormuz crisis is reshaping global energy capital investment, with greater emphasis on energy sovereignty, supply diversification and new export routes. Against this backdrop, T.EN is seeing increased front-end engagement and demand for fast-track projects, alongside an improving opportunity pipeline in LNG, offshore, energy derivatives and sustainable fuels. This will support order intake from 2027 through the end of the decade and reinforce our growth momentum into the 2030s.” 

Key financials – adjusted IFRS

Key financials – IFRS

Updated conditional 2026 segment guidance – adjusted IFRS

Conference call information

Technip Energies will host its H1 2026 results conference call and webcast on Thursday, July 30, 2026 at 14:00 CET. Details:

France: +33 1 70 91 87 04

United Kingdom: +44 121 281 8004

United States: +1 718 7058796

Conference Code: 880901

The event will be webcast simultaneously and can be accessed at: T.EN H1 2026 Results Webcast

Contacts

Investor Relations

Phillip Lindsay

Vice President, Investor Relations

Tel: +44 20 7585 5051

Email: investor.relations@ten.com

Media Relations

Jason Hyonne

Manager, Press Relations & Social Media

Tel: +33 1 47 78 22 89

Email: media_@ten.com

Operational and financial review

Order intake, backlog and backlog scheduling

Adjusted order intake for H1 2026 amounted to €12,729 million, equivalent to a book-to-bill of 3.5.

Adjusted order intake announced during the second quarter of 2026 included Full Notice To Proceed for a major¹ EPC contract with Commonwealth LNG, a Caturus company, for its 9.5 Mtpa LNG export facility in United States, a major² contract for Coral Norte floating LNG project in Mozambique, an EPC contract from Power2X for the 20MW Djewels green hydrogen plant in the Netherlands, a contract³ by Long Son Petrochemicals Co., Ltd. for its Long Son Petrochemicals Enhancement (LSPE) project located in Vietnam, as well as other studies, services contracts and smaller projects.

For reference, commercial highlights for the first quarter of 2026 are included here: T.EN Q1 2026 financial results.

¹ A “major” award for Technip Energies is a contract award representing above €1 billion of revenue.
² This major award builds on the previously announced contracts and confirms the continued advancement of Technip Energies’ scope of work on the Coral Norte FLNG project. This reflects the aggregate value of all contracts awarded to Technip Energies for the Coral Norte project.
³ This award was recorded in Q1 2026 in the Technology, Products & Services segment.

Adjusted backlog increased by 57% to €25.0 billion compared to December 31, 2025, equivalent to 3.5x FY 2025 adjusted revenue.

The table below provides estimated backlog scheduling as of June 30, 2026.

Company financial performance

Adjusted statement of income

Business highlights

Project Delivery – adjusted IFRS

H1 2026 Adjusted revenue increased by 1% year-over-year to €2,764.0 million. The planned activity growth on LNG and decarbonization projects in the United States and Europe, was mostly offset by tempered progress on Middle East projects due to logistical challenges, as well as foreign exchange evolution, particularly the strengthening of the Euro versus the US dollar.

H1 2026 Adjusted recurring EBITDA decreased by 45% year-over-year to €117.6 million and H1 2026 Adjusted recurring EBIT decreased by 55% year-over-year to €84.3 million.

H1 2026 Adjusted recurring EBITDA margin decreased year-over-year by 350 bps to 4.3% and Adjusted recurring EBIT margin decreased year-over-year by 390 bps to 3.0%. The markedly lower year-over-year margins principally reflect the continuation of the Middle East conflict and its associated secondary impacts. This includes 1) an assessment of certain disputed items that remain subject to ongoing resolution processes and for which T.EN is pursuing its contractual rights; and 2) as previously disclosed, incremental costs incurred for logistics, safety and business continuity measures across Middle East projects. While cost recovery is expected through strong contractual protection, the exact extent and timing is dependent upon the evolution of the conflict and the outcome of commercial discussions.

Q2 2026 Key operational milestones

QatarEnergy North Field Expansion (Qatar)

• Commissioning of first process train ongoing and construction of second process train under completion.

QatarEnergy North Field South (Qatar)

• Substantial completion of engineering and piping installation on pipe racks ongoing.

Marsa LNG (Oman)

• Start of piping erection.

Ruwais LNG (UAE)

• Civil works across all units well advanced, enabling subsequent construction activities.

Coral Norte (Mozambique)

• Successful installation of seven key process vessels at yard in China.

Assiut Hydrocracking Complex (Egypt)

• 25 million workhours without LTI at site.

GranMorgu FPSO (Suriname) 

• The hull was successfully repositioned within the CMHI shipyard and entered dry dock, a key step in the construction sequence.

bp Net Zero Teesside Power Project (UK)

• The first major equipment supplied by GE Vernova, including the heat recovery steam generator and condenser unit, arrived in Teesside, UK.

Q2 2026 Key commercial and strategic highlights

Technip Energies receives Full Notice To Proceed on major EPC contract with Commonwealth LNG in the United States

• Technip Energies has received Full Notice To Proceed (FNTP) for a major¹ Engineering, Procurement, and Construction (EPC) contract with Commonwealth LNG, a Caturus company, for its 9.5 Mtpa liquefied natural gas (LNG) export facility in Cameron Parish, Louisiana, United States. This announcement follows the Final Investment Decision (FID) for the project, enabling Technip Energies to transition from initial activities to full execution of the project. The scope of the contract includes the delivery of six identical liquefaction trains, utilizing Technip Energies’ SnapLNG by T.EN^TM modular and scalable solution. By employing a single design replicated across all six trains, SnapLNG by T.EN^TM offers accelerated project schedules and optimized costs, alongside improved predictability and certainty at scale. This milestone reinforces Technip Energies’ position as a global leader in LNG, having delivered over 20% of the world’s operating LNG capacity. The Company continues to advance modular and innovative project delivery models across the sector.

¹ A “major” award for Technip Energies is a contract award representing above €1 billion of revenue.

Technip Energies secures major contract for Coral Norte floating LNG project in Mozambique

• Technip Energies, in partnership with JGC and Samsung Heavy Industries, has been awarded an Engineering, Procurement, Construction, Installation & Commissioning (EPCIC) contract by Mozambique Rovuma Venture (MRV) for the Coral Norte FLNG project, which, together with previously announced contracts, represents a major¹ award for the company. The Coral Norte Floating Liquefied Natural Gas (FLNG) project, located offshore Mozambique and developed by Eni and its Partners CNPC, ENH, XRG, and KOGAS, is designed to produce approximately 3.6 Mtpa of LNG, doubling the Coral hub’s capacity to 7 Mtpa. This expansion positions Mozambique among Africa’s top three LNG producers, further strengthening the country’s role in the global energy market. Coral Norte is designed as an enhanced replica of Coral Sul, the first development in Mozambique’s Area 4 offshore gas block. The replication approach leverages the projects’ common feed gas composition and deepwater location to enhance execution certainty and optimized performance, while drawing on engineering and integration lessons learned from the earlier development. By standardizing the project delivery model, Technip Energies and its partners provide a de-risked path to scale and greater predictability at every stage.

¹ This major award builds on the previously announced contracts and confirms the continued advancement of Technip Energies’ scope of work on the Coral Norte FLNG project. A “major” award for Technip Energies is a contract award representing above €1 billion of revenue for the company. This reflects the aggregate value of all contracts awarded to Technip Energies for the Coral Norte project, including previously announced agreements.

Technology, Products & Services (TPS) – adjusted IFRS

H1 2026 Adjusted revenue decreased year-over-year by 2% to €889.0 million, resulting from adverse foreign exchange and a reduced contribution from proprietary equipment in energy derivatives projects, largely offset by high activity in the assembly of carbon capture proprietary products, a first revenue contribution from AM&C, and strong volumes in consultancy, engineering services and studies.

H1 2026 Adjusted recurring EBITDA was broadly stable year-over-year at €136.6 million and Adjusted recurring EBIT decreased year-over-year by 7% to €95.1 million.

H1 2026 Adjusted recurring EBITDA margin increased by 30 bps to 15.4% and Adjusted recurring EBIT margin decreased by 60 bps to 10.7% year-over-year. Adjusted recurring EBITDA margin expansion was achieved despite the modest contraction in revenues, benefiting from delivery milestones on proprietary products, strong Project Management Consultancy (PMC) volumes, and the inclusion of AM&C. Key factors driving the compression in the Adjusted recurring EBIT margin relate to the inclusion of AM&C, specifically the higher depreciation & amortization expense, and higher research & development expenditures.

Q2 2026 Key operational milestones

Waste-to-methanol Ecoplanta project (Portugal)

• Placed modularization yard subcontract for Engineering, Construction & Procurement modularization and main purchase order for equipment to be delivered at modularization yard.

Shell Skyline Ethylene Furnace Revamp EPF (Netherlands)

• Successful completion of the Shell Skyline project at Shell Chemicals Park Moerdijk, Netherlands, modernizing the 16 oldest ethane furnaces of the steam cracker.

Carbon Centric Rakkestad (Norway)

• The first Canopy by T.EN™ powered by Shell CANSOLV^® carbon capture solution is operating successfully at Rakkestad’s waste-to-energy plant.

Q2 2026 Key commercial and strategic highlights

Technip Energies awarded contract for Long Son Petrochemicals enhancement project in Vietnam

• Technip Energies has been awarded a contract by Long Son Petrochemicals Co., Ltd. (LSP) for its Long Son Petrochemicals Enhancement (LSPE) project, located on Long Son Island, Vietnam. The contract covers engineering and procurement services, site assistance, and the supply of proprietary burners for the plant’s cracking furnaces. The project will convert the existing steam cracker from naphtha to ethane feedstock using Technip Energies’ proprietary ethylene technologies, including its Ultra Selective Conversion (USC®) furnace design and Heat-Integrated Rectifier System (HRS^®), delivering high selectivity, enhanced energy efficiency and optimized ethylene recovery. This strategic initiative will incorporate large quantities of ethane into the existing naphtha and propane feedstock mix, aiming to optimize feedstock efficiency, achieve substantial cost reduction, significantly reduce carbon footprint intensity, and strengthen long-term strategic resilience amidst global market volatility. This project is among the first worldwide in recent years to convert a naphtha-based steam cracker to ethane, as forward-looking petrochemical producers prioritize feedstock diversification and the adoption of lower-carbon inputs to ensure supply chain security.

This award was recorded in Q1 2026 in the Technology, Products & Services segment.

Technip Energies, Alterra and Neste launch Nerea^TM, a standardized modular solution for plastic chemical recycling

• Technip Energies, Alterra and Neste announce the commercial launch of Nerea™, a new type of industrial offering designed to accelerate the deployment of chemical recycling projects for plastic waste. By transitioning from bespoke engineering to a standardized product model, Nerea™ enables waste operators, project developers, refining and petrochemical players to scale circular plastic production with enhanced predictability. Global plastics production has nearly doubled over the past two decades, reaching approximately 431 million tonnes in 2024. Circularity rates are not keeping pace with continuing consumption growth, resulting in significant volumes of plastic waste that still end up in incinerators, landfills or released into the environment. At the same time, regulatory developments in Europe and elsewhere are driving stronger demand for recycled and circular feedstocks. Nerea™ addresses this challenge by building on the collaboration agreement signed by Technip Energies, Alterra and Neste in November 2024 and bringing together Alterra’s thermochemical liquefaction technology, Neste’s chemical recycling expertise, and Technip Energies’ engineering, project delivery and modularization capabilities. Alterra’s technology has demonstrated more than five years of continuous commercial operation, processing real-world plastic waste streams. Nerea™ has a standardized, modular design that minimizes pre-investment and reduces project complexity, while providing greater certainty in terms of cost and schedule. Designed for rapid deployment across various industrial environments, the Nerea™ plant converts heterogeneous and hard-to-recycle plastic waste into high-quality feedstock for the petrochemical industry.

Rely awarded by Power2X the EPC contract of the 20MW Djewels green hydrogen plant in the Netherlands

• Rely has been awarded by Power2X the engineering, procurement and construction (EPC) contract for Djewels, its 3,000 TPA green hydrogen plant at Delfzijl, the Netherlands. Reaching its Final Investment Decision (FID) and Notice to Proceed (NTP), the project features the 20MW electrolyzer module from Rely’s Clear100+ standardized plant, integrating John Cockerill Hydrogen’s pressurized alkaline electrolysis technology.

Q2 2026 Other key highlights

Technip Energies, Airbus, Safran and Tereos join forces to develop a Sustainable Aviation Fuel production project in France

• Technip Energies, Airbus, Safran and Tereos entered into an agreement to create Rebound, a joint venture to develop a large-scale Sustainable Aviation Fuel (SAF) production project at the Port of Dunkirk, in Northern France. The project will use the Alcohol-to-Jet (AtJ) technological pathway to produce approximately 160,000 tons of SAF per year, making it one of the largest facilities of its kind in Europe and contributing to European energy sovereignty. With this agreement, the partners commit to fund the project's development phase, including engineering studies and other activities required to consider a Final Investment Decision (FID). SAF is widely recognized as the primary lever to decarbonize aviation. Under the European Union’s Refuel EU Aviation regulation, SAF blending mandates will rise progressively reaching 6% by 2030 and 70% by 2050, driving an eightfold increase in demand between 2030 and 2050. Among the available production pathways, Alcohol-to-Jet is emerging as a scalable and cost-competitive option which converts advanced ethanol, produced from agricultural and forestry residues into drop-in aviation fuel that can be blended with conventional jet fuel and used in existing engines and aircraft. In this project development phase, Technip Energies will act as the project’s lead developer and engineering service provider, bringing its expertise in technology scaling and complex project execution. Airbus and Safran, world-class leaders in global aerospace, join as industrial partners, offtake facilitators and potential SAF offtakers. As a European leader in ethanol production, Tereos, a French agricultural cooperative intends to supply and source the advanced ethanol required for the project. Together, the four partners cover the value chain from feedstock supply to aviation end-use, under a single European-led initiative. A key milestone was already reached: the Port of Dunkirk awarded Technip Energies an industrial site in Northern France, which will offer, upon finalization of the joint venture, strong logistical advantages to Rebound for feedstock and product transport, as well as a streamlined permitting pathway. The partners will progress through a disciplined, stage-gated development process. Steps ahead include the selection of the technology licensor, permitting activities, launch of pre-FEED (Front-End Engineering Design) and FEED activities, finalization of feedstock supply and SAF offtake agreements, and securing the financing for the construction of the asset. The creation of the joint venture is subject to customary closing conditions and approvals and is expected to be finalized in the second half of this year.

Technip Energies announces the success of its 2026 Employee Share Offering

• Technip Energies announced on April 13, 2026, the launch of ESOP 2026, an employee share operation offered to approximately 18,000 eligible employees in 19 countries, with the objective of sharing the long-term value creation of the Company with its employees. The operation was based on two offers:

•"ESOP Classic", where the subscriber benefits from a discounted price and a matching contribution.

•"ESOP Leverage", where the subscriber benefits from protection of their personal contribution and will receive the greater of: (i) a guaranteed minimum return over the investment period; or (ii) a multiple of the protected average increase in the Technip Energies share price.

These two offers were proposed as part of Technip Energies' Group Savings Plan (PEG) and International Group Savings Plan (PEGI).

The subscription process has now ended, with a level of participation that resulted in subscription requests significantly exceeding the allocated envelope. More than 7,700 employees chose to subscribe to the ESOP 2026 offer, bringing the overall subscription rate to 42%. This success is testament to the confidence and support of the teams for Technip Energies' strategy, as well as a strong sign of their commitment to the creation of long-term value that Technip Energies and its people are collectively building for the future. 1,935,932 new shares will be issued on July 30, 2026, as part of the capital increase, representing 1,09% of issued share capital of the Company.

Technip Energies’ Modular Manufacturing Yard in India dispatches first module to Europe

• Technip Energies India has commissioned its first captive jetty at its Modular Manufacturing Yard (MMY) in Dahej, Gujarat, marking a milestone with the dispatch of its first large-scale process module consignment to the Netherlands for a global energy major. The development underscores India’s growing role as a strategic manufacturing and export hub, aligned with the vision of ‘Make in India’. The jetty enables the direct movement of oversized modules - each weighing up to 4,000 metric tonnes - that were previously constrained by road transport limitations. The modules have begun their journey and are currently on route to North Europe via the Red Sea and the Suez Canal, ensuring seamless global connectivity. This infrastructure has significantly enhanced logistics efficiency, reducing transit time from an estimated 15 days via road to just 48-72 hours. It also delivers approximately 60–70% fuel savings, resulting in lower logistics costs and a meaningful reduction in carbon emissions – further strengthening Technip Energies India’s commitment to sustainable operations. Completed in an accelerated timeline of approximately seven months, the jetty stands as a testament to strong execution capabilities and engineering excellence. More importantly, it positions India at the forefront of Technip Energies’ global modular execution strategy, enabling the company to qualify for and deliver complex, large-scale international projects.

Corporate and other items - adjusted IFRS

Corporate costs, excluding non-recurring items, were €41.9 million for the first half of 2026 and included costs associated with the employee share offering (“ESOP 2026”). The non-cash expense of ESOP 2026 is expected to be €16 million. The underlying the corporate cost run-rate is in line with the Company’s prior guidance range of €50 - 60 million.

Impacts of purchase accounting. The €10.4 million expense primarily reflects incremental depreciation and amortization arising from the 2025 acquisition of AM&C. This results from fair value uplifts applied to property, plant and equipment, the product portfolio, and inventory as part of purchase price allocation. This expense is non-cash and excluded from recurring business performance.

Non-recurring expense amounted to €30.5 million. This includes costs incurred related to investment in adjacent business models, particularly for Reju, and to a lesser extent, the Rebound joint venture, as well as AM&C integration, other strategic initiatives, and restructuring costs.

Net financial income of €41.4 million benefited from interest income generated from cash and cash equivalents, partially offset by the cost of debt, lease expenses and pension costs. The improved sequential trend relative to the second half of 2025 reflects higher cash balances and the evolution of global interest rates.

Effective tax rate was 31.9% in H1 2026, above the 2026 guidance range of 26% to 30%, primarily reflecting an unfavorable earnings mix. This included negative taxable results in lower-tax jurisdictions for which deferred tax assets could not be fully recognized. As a result, the FY 2026 tax rate is now expected to be in the range of 30% - 32%.

Depreciation and amortization expense was €81.6 million, of which €39.5 million is related to IFRS 16 and €6.8m is arising from the purchase price allocation step-up on AM&C’ tangible and intangible assets.

Gross cash at June 30, 2026 was €4.8 billion, which compares to €3.8 billion at December 31, 2025. Gross debt was €1.4 billion at June 30, 2026, and has increased relative to the position at December 31, 2025 due to an increase in long-term debt associated to the issuance of €500 million aggregate principal amount of 4% unsecured notes due June 10, 2033. This offset the reduction in short-term debt as the Company retired commercial paper towards a more normalized level following the transaction of AM&C in the fourth quarter of 2025.

Free cash flow was €957.0 million for the first half 2026. Free cash flow, excluding the working capital and provisions variance of €774.0 million, was €183.0 million, benefiting from consistently high conversion from recurring EBITDA of 86% (conversion from recurring EBIT was 133%). Free cash flow is stated after net capital expenditures of €21.8 million. Operating cash flow was €978.8 million.

Debt and Liquidity - adjusted IFRS

On June 4, 2026, Technip Energies announced it had priced an issuance of €500 million aggregate principal amount of 4% senior unsecured notes due June 10, 2033 (the "Notes"). The offering was more than five times oversubscribed among a broad European investor base. Technip Energies intends to use the net proceeds from the offering of the Notes for general corporate purposes.

Liquidity of €5.6 billion at June 30, 2026 comprised of €4.8 billion of cash and €750 million of liquidity provided by the Company’s undrawn Revolving Credit Facility (RCF).

Completion of share buyback program

On July 1, 2026, the Company announced the completion of its €150 million share buy-back program, which was launched following the announcement on March 18, 2026. Between March 18, 2026, and June 30, 2026, the Company acquired 4,246,851 of its own shares (representing 2.38% of the share capital), at an average price per share of €36.64. The shares acquired under the share buy-back program will be used for the following purposes: 1) to reduce the Company’s share capital by cancelling treasury shares; and 2) to meet the Company's obligations under equity incentive plans.

AGM and Dividend

At the company’s Annual General Meeting (“AGM”) on May 5, 2026, all resolutions submitted to the shareholders for approval were adopted.

All resolutions on the agenda received a majority of votes. Each resolution was voted for in favor by more than 84%, including shareholder approval for the 2025 financial statements and the proposed dividend of €1.00 per outstanding common share for the 2025 financial year. The AGM documentation and voting results are available at 2026 Annual General Meeting 2026 Annual General Meeting.

Payment for the cash dividend took place on May 20, 2026.

Forward-looking statements

This press release contains forward-looking statements that reflect Technip Energies’ (the “Company”) intentions, beliefs or current expectations and projections about the Company’s future results of operations, anticipated revenues, earnings, cashflows, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Company operates. Forward-looking statements are often identified by the words “believe”, “expect”, “anticipate”, “plan”, “intend”, “foresee”, “should”, “would”, “could”, “may”, “estimate”, “outlook”, and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on the Company’s current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on the Company. While the Company believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting the Company will be those that the Company anticipates.

All of the Company’s forward-looking statements involve risks and uncertainties, some of which are significant or beyond the Company’s control, and assumptions that could cause actual results to differ materially from the Company’s historical experience and the Company’s present expectations or projections. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements.

For information regarding known material factors that could cause actual results to differ from projected results, please see the Company’s risk factors set forth in the Company’s 2025 Annual Financial Report filed on March 10, 2026, with the Dutch Autoriteit Financiële Markten (AFM) and the French Autorité des Marchés Financiers (AMF), which includes a discussion of factors that could affect the Company’s future performance and the markets in which the Company operates.

Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. The Company undertakes no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law.

APPENDIX

APPENDIX 1.0: ADJUSTED STATEMENT OF INCOME - FIRST HALF 2026

APPENDIX 1.1: ADJUSTED STATEMENT OF INCOME - SECOND QUARTER 2026

APPENDIX 1.2: STATEMENT OF INCOME - RECONCILIATION BETWEEN IFRS AND ADJUSTED - FIRST HALF 2026

APPENDIX 1.3: STATEMENT OF INCOME - RECONCILIATION BETWEEN IFRS AND ADJUSTED - FIRST HALF 2025

APPENDIX 1.4: STATEMENT OF INCOME - RECONCILIATION BETWEEN IFRS AND ADJUSTED - SECOND QUARTER 2026

APPENDIX 1.5: STATEMENT OF INCOME - RECONCILIATION BETWEEN IFRS AND ADJUSTED - SECOND QUARTER 2025

APPENDIX 2.0: ADJUSTED STATEMENT OF FINANCIAL POSITION

APPENDIX 2.1: STATEMENT OF FINANCIAL POSITION - RECONCILIATION BETWEEN IFRS AND ADJUSTED - FIRST HALF 2026

APPENDIX 2.2: STATEMENT OF FINANCIAL POSITION - RECONCILIATION BETWEEN IFRS AND ADJUSTED - FIRST HALF 2025

APPENDIX 3.0: ADJUSTED STATEMENT OF CASH FLOWS 

APPENDIX 3.1: STATEMENT OF CASH FLOWS - RECONCILIATION BETWEEN IFRS AND ADJUSTED - FIRST HALF 2026

APPENDIX 3.2: STATEMENT OF CASH FLOWS - RECONCILIATION BETWEEN IFRS AND ADJUSTED - FIRST HALF 2025

APPENDIX 4.0: ADJUSTED ALTERNATIVE PERFORMANCE MEASURES - FIRST HALF 2026

APPENDIX 4.1: ADJUSTED ALTERNATIVE PERFORMANCE MEASURES - SECOND QUARTER 2026

APPENDIX 5.0: ADJUSTED RECURRING EBIT AND EBITDA RECONCILIATION - FIRST HALF 2026

APPENDIX 5.1: ADJUSTED RECURRING EBIT AND EBITDA RECONCILIATION - SECOND QUARTER 2026

APPENDIX 6.0: BACKLOG - RECONCILIATION BETWEEN IFRS AND ADJUSTED

APPENDIX 7.0: ORDER INTAKE - RECONCILIATION BETWEEN IFRS AND ADJUSTED

APPENDIX 8.0: Definition of Alternative Performance Measures (APMs)

Certain parts of this Press Release contain the following non-IFRS financial measures: Adjusted Revenue, Adjusted Recurring EBIT, Adjusted Recurring EBITDA, Adjusted net (debt) cash, Adjusted Backlog, and Adjusted Order Intake, which are not recognized as measures of financial performance or liquidity under IFRS and which the Company considers to be APMs. APMs should not be considered an alternative to, or more meaningful than, the equivalent measures as determined in accordance with IFRS or as an indicator of the Company’s operating performance or liquidity.

Each of the APMs is defined below:

• Adjusted revenue: represents the revenue recognized under IFRS as adjusted according to the method described below. For the periods presented in this Press Release, the Company’s proportionate share of joint venture revenue from the following most material projects was included: the revenue from ENI CORAL FLNG, NFE and Zeolyst is included at 50%, the revenue from BAPCO Sitra Refinery is included at 36%, the revenue from GranMorgu project is included at 48% and the one of Ruwais project at 40%. The Company believes that presenting the proportionate share of its joint venture revenue in construction projects carried out in joint arrangements enables management and investors to better evaluate the performance of the Company’s core business period-over-period by assisting them in more accurately understanding the activities actually performed by the Company on these projects.
• Adjusted recurring EBIT: represents profit before financial income (expense), net, and income taxes recorded under IFRS as adjusted to reflect line-by-line for their respective share incorporated construction project entities that are not fully owned by the Company (applying to the method described above under Adjusted Revenue) and adds or removes, as appropriate, items that are considered as non-recurring from EBIT (such as items not arising from the Group’s normal operations, including restructuring expenses, significant litigation, costs related to strategic initiatives and investments in adjacent business models, as well as expenses incurred in connection with the business combination including purchase accounting impacts). The Company believes that the exclusion of such expenses or profits from these financial measures enables investors and management to evaluate the Company’s operations and consolidated results of operations period-over-period, and to identify operating trends that could otherwise be masked to both investors and management by the excluded items.
• Adjusted recurring EBITDA: corresponds to the adjusted recurring EBIT as described above before depreciation and amortization expenses.
• Adjusted net (debt) cash: reflects cash and cash equivalents, net of debt (including short-term debt), as adjusted according to the method described above under adjusted revenue. Management uses this APM to evaluate the Company’s capital structure and financial leverage. The Company believes adjusted net (debt) cash, is a meaningful financial measure that may assist investors in understanding the Company’s financial condition and recognizing underlying trends in its capital structure.
• Adjusted backlog: backlog is calculated as the estimated sales value of unfilled, confirmed customer orders at the relevant reporting date. Adjusted backlog takes into account the Company’s proportionate share of backlog related to equity affiliates (mainly in relation to ENI Coral FLNG, BAPCO Sitra Refinery and two affiliates of the NFE joint-venture). The adjusted backlog from GranMorgu project is included at 48% and the one of Ruwais project at 40%. The Company believes that the adjusted backlog enables management and investors to evaluate the level of the Company’s core business forthcoming activities by including its proportionate share in the estimated sales coming from construction projects in joint arrangements.
• Adjusted order intake: order intake corresponds to signed contracts which have come into force during the reporting period. Adjusted order intake adds the proportionate share of orders signed related to equity affiliates (mainly in relation to ENI Coral FLNG, BAPCO Sitra Refinery and two affiliates of the NFE joint-venture). This financial measure is closely connected with the adjusted backlog in the evaluation of the level of the Company’s forthcoming activities by presenting its proportionate share of contracts which came into force during the period and that will be performed by the Company.

•
Contacts

Investor Relations

Phillip Lindsay

Vice President, Investor Relations

Tel: +44 20 7585 5051

Email: investor.relations@ten.com

Media Relations

Jason Hyonne

Manager, Press Relations & Social Media

Tel: +33 1 47 78 22 89

Email: media_@ten.com

Attachment

• Technip Energies H1 2026 Financial Results