Technip Energies Nv (THNPF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello and welcome to Technip Energy's financial results for the first quarter of 2026. On the call today, our CEO, Arnaud Piertan, will discuss our Q1 performance and business highlights. This will be followed by a financial review by CFO Bruno Weber. Arnaud will then return for the conclusion before we open for questions. Before we start, I encourage you to take note of the forward-looking statements on slide three. I will now pass the call over to Arnaud. Thank you, Phil, and a very warm welcome to our first quarter results presentation. Let me start by sharing the key highlights of our performance. First, a comment on the situation in the Middle East. I want to reassure you that all our projects under construction are intact, no damage to the work, and no cancellation And more importantly, everyone is safe. Of course, we have faced operational disruptions stemming from the conflict, but our first quarter results underscore the resilience of Technic Energies. Owing to the adaptability and unwavering commitment of our teams, we limited the revenue impact to just a 4% decline year over year, with EBITDA down 8%. Importantly, our robust underlying cash generation continues to set us apart. Despite the challenges, we successfully converted nearly 90% of our EBITDA into free cash flow this quarter. This achievement reflects the quality and breadth of our order intake over the past few years and our focus on operational excellence. The situation in the Middle East remains fluid and is expected to affect our 2026 financial outlook. I will provide further detail in the next slide, while Bruno will later discuss our new conditional guidance. On the commercial front, the first quarter marks one of the strongest periods for order intake in our history, with more than 6 billio...