Technip Energies Reports Strong Order Intake and Backlog Growth
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Technip Energies, a global technology and engineering powerhouse leading in energy and decarbonization infrastructure, reported strong financial results for the first nine months of 2026. The company’s resilience amid prolonged disruption in the Middle East is evident, with a significant order intake and a robust backlog.
According to the press release, Technip Energies’ adjusted order intake for the first nine months of 2026 amounted to €14.128 billion, marking a book-to-bill ratio of 2.5. Notable contracts include a significant engineering and technology contract by Petkim for the development of a proposed integrated petrochemical complex in Türkiye, a major contract by Larsen & Toubro Energy Hydrocarbon (LTEH) to provide detailed engineering services for a major ADNOC Offshore project in the United Arab Emirates, and a large EPC contract by HPCL for the Mumbai refinery modernization project in India.
The company’s backlog, adjusted to €24.5 billion, has increased by 54% compared to December 31, 2025, equivalent to 3.4 times the full-year 2025 adjusted revenue. This substantial backlog provides a strong foundation for future growth, with projects across various end markets and geographies.
In terms of financial performance, Technip Energies reported a 4% year-over-year increase in adjusted revenue to €4.2127 billion. However, the adjusted recurring EBITDA decreased by 33% year-over-year to €218.5 million, with an adjusted recurring EBITDA margin of 5.2%, down 280 basis points from the previous year. The lower margins reflect the ongoing Middle East conflict and associated secondary impacts, including incremental costs for logistics, safety, and business continuity measures.
Despite the challenges, key operational milestones were achieved. For instance, the company started electrical pre-commissioning and heavy lift activities at the QatarEnergy North Field South project in Qatar. At the Ruwais LNG project in the UAE, 20 million manhours were worked on-site without a lost time injury. The Coral Norte project in Mozambique saw the successful erection of key turret and mooring components at the yard in Malaysia. In the UK, major project milestones were reached, including the first pipe cut and weld at the NZT Power project and the successful delivery of a 205-ton Gas Dehydration and Triethylene Glycol (TEG) regeneration module at the GranMorgu FPSO project in Suriname.
Technip Energies also made significant progress in its Technology, Products & Services (TPS) segment. Adjusted revenue for TPS increased year-over-year by 3% to €1.384 billion. The segment’s adjusted recurring EBITDA margin increased to 15.6%, with Q3 2026 recording the highest-ever quarterly margin at 16.1%. The company was awarded a significant contract by Petkim for the development of a proposed integrated petrochemical complex in Türkiye, including a world-scale mixed-feed ethylene cracking unit and an integrated Process Design Package (PDP) and Front-End Engineering Design (FEED) services for the overall complex.
Technip Energies is on track to generate annual EBITDA of more than €800 million by 2028, supported by a near-record backlog and a material net cash position. The company’s strategy of pursuing selective growth in Project Delivery, enriching its TPS portfolio, and advancing adjacent business models through Reju and Rebound is driving its commercial momentum and long-term value creation.