French infrastructure and technology company Technip Energies announced on Thursday a 49% dividend increase and reported fourth-quarter sales exceeding market expectations.
During the May 6 shareholder meeting, Technip will propose a cash dividend of 0.85 euros per share for 2024, up from 0.57 euros per share the previous year, demonstrating growth.
The company, specializing in engineering and technology for the energy sector, revealed fourth-quarter adjusted sales of 1.88 billion euros ($1.97 billion), surpassing analysts' predictions of 1.76 billion euros based on a company-compiled consensus.
Technip reported a 24% increase in its adjusted backlog to 19.56 billion euros last year, providing visibility on revenue for approximately three years.
CEO Arnaud Pieton highlighted the promising prospects in decarbonisation and circularity markets compared to traditional ones during a call with reporters. He stated, "These are the fastest-growing markets we've positioned ourselves in."
In the fourth quarter, Technip secured significant contracts, including a 1 billion euro deal for TotalEnergies' FPSO project and a 2 billion to 3 billion euro order for the Net Zero Teesside (NZT) Power project in the UK, which is distinguished as the world's first gas power plant with carbon capture technology.
Lastly, the group reaffirmed its strategy announced during its capital markets day in November.