As a consequence of the E270 million charges recorded on onshore-downstream projects in the fourth quarter 2007, the company said that it reported an operating loss from recurring activities of E108 million, compared to an operating profit of E113.8 million recorded during the fourth quarter of 2006.
Technip recorded a net loss of E97.5 million for the fourth quarter of 2007, compared to the E63 million profit generated during the fourth quarter of 2006.
The firm’s full year 2007 revenue was E7.88 billion, up 13.9%, compared to the full year 2006. Following the E320 million charge recorded on onshore-downstream projects in 2007, Technip’s operating income from recurring activities was E247 million, down 25.9%, compared to E333.2 million recorded in 2006.
Financial income from contracts accounted as revenue amounted to E90.9 million in 2007. In 2007, Technip’s operating income was E266.9 million, down 25.9%, compared to the E360.1 million in 2006. Net income was E126.3 million, down 36.9% when compared to 2006.
