Technip’s Second Quarter 2011 Results

2011 Outlook Improved

PARIS--(BUSINESS WIRE)--Regulatory News:

Technip (Paris:TEC) (ISIN:FR0000131708):

SECOND QUARTER 2011 RESULTS

• Revenue of €1,664 million, of which €660 million in Subsea
• Group operating margin⁴ of 10.6%: 17.0% in Subsea and 7.6% in Onshore/Offshore
• Backlog of €9,413 million: €2,092 million order intake during the quarter
• Net income of €133 million
• Total net cash position at €1,110 million after dividends of €156 million

FULL YEAR 2011 OUTLOOK IMPROVED¹

• Group revenue around €6,500 - 6,700 million, unchanged
• Subsea revenue around €2,600 - 2,700 million, unchanged
• Subsea operating margin⁴ between 16.5% and 17.0%, formerly above 15%
• Onshore/Offshore combined operating margin⁴ between 6.5% and 7.0%, formerly between 6.0% and 6.5%

€ million (Except Diluted Earnings per Share)	2Q 10	2Q 11	% Change	Change ex. FX Impact	1H 10	1H 11	% Change	Change ex. FX Impact
Revenue	1,484.5	1,663.9	12.1 %	14.5%	2,802.9	3,100.1	10.6 %	9.6%
EBITDA^2	195.9	212.6	8.5 %	11.0%	370.4	391.6	5.7 %	4.9%
EBITDA Margin^3	13.2%	12.8%	(42)bp		13.2%	12.6%	(58)bp
Operating Income from Recurring Activities	160.5	175.6	9.4%	11.8%	299.7	320.4	6.9%	6.0%
Operating Margin^4	10.8%	10.6%	(26)bp		10.7%	10.3%	(36)bp
Operating Income	162.5	175.6	8.1%		301.7	320.4	6.2%
Net Income	106.1	132.5	24.9%		202.0	236.8	17.2%
Diluted Earnings per Share^5 (€)	0.98	1.15	17.1%		1.87	2.06	10.1%

On July 25, 2011, Technip’s Board of Directors approved the second quarter and first half 2011 consolidated accounts. Chairman and CEO Thierry Pilenko commented: “Technip delivered a robust second quarter. Our revenue grew, our margins were strong, and we are therefore raising our full year profit objectives. We were also awarded €2.1 billion of new contracts that grew our backlog to €9.4 billion, demonstrating the strength of Technip’s broad business base.

Operationally, we continued to deliver on current projects, notably as concerns Middle Eastern Onshore and African Subsea contracts, driving growth in revenue.

With over €1 billion of new orders in the quarter, Subsea backlog is now above the peak of the previous cycle. Onshore/Offshore order intake above €1 billion included the first contribution from Shell’s Prelude FLNG contract as well as a wide variety of small to mid-sized projects.

We continued to reinforce our strategy with substantial investment commitments. The Skandi Niteroi is almost completed and is now on her way to Brazil for sea trials before delivery to the client. Technip’s end-of-June balance sheet supports our growth ambitions, with net cash position of €1.1 billion (after the payment of €156 million in dividends). In July, we closed the renewal of our revolving credit line.

Looking forward, we see opportunities to expand in nearly all our markets. A high and fairly stable oil price combined with an increasing demand for gas is driving upstream investments, while strategic and regional imperatives are supporting downstream spending. Some headwinds remain: the strength of competition should not be underestimated, and general economic and widespread political uncertainties are impacting the timetable for some projects, notably those which require financing.

Overall, however, we see a recovery in our industry that, whilst it may continue to be slower to ramp-up than many envisaged, could prove more sustained.

Technip will look to accelerate its growth whilst maintaining focus on the balance of its project portfolio and on profitability. We will continue to seize investment opportunities across a broad front to expand our business base, our technologies and our services capability. Taking the above elements together - strong operational performance, sustained and diversified order intake, solid balance sheet - Technip remains confident in its ability to deliver value in a promising market.”

I. SECOND QUARTER 2011 REPORT

1. Operational Highlights

Subsea business segment’s main events were:

• In Angola, handover to client began on Block 31 and offshore operations were successfully completed on Pazflor,
• Offshore operations continued on West Delta Deep Marine Phase 8A in Egypt,
• In Brazil, manufacturing of electrical modules for Papa Terra Integrated Production Bundles (IPB) progressed, delivery of flexible pipes for the pre-salt Tupi Pilot development continued, and Vitoria’s second production line re-started,
• In the Gulf of Mexico, phase 1 of Galapagos offshore operations was completed with the Deep Blue, while work on components of the Marine Well Containment System continued,
• In the North Sea, first campaign for Nord Stream pipeline was completed, subsea structures for Goliat project were successfully installed using wet tow method, offshore operations continued on Hibernia, and Pipe-in-Pipe for Devenick project is being reeled,
• In Asia Pacific, offshore operations continued on CWLH project in Australia, and fabrication of flexible pipes was completed for Kitan, Timor Sea,
• Ramp-up of Asiaflex manufacturing plant continued in Malaysia with an improving order flow, notably for umbilicals,
• Vessel utilization rate was 80% compared with 70% a year ago.

Onshore/Offshore business segment’s main events were:

• In the Middle East,
  • Site delivery of equipment and construction works ramped-up on Jubail refinery in Saudi Arabia,
  • Civil and mechanical works progressed with the involvement of Eletech (joint venture between Technip and Eleco Chinese construction company) on Asab 3 in Abu Dhabi,
  • Engineering and procurement activities progressed well on PMP in Qatar with early works successfully completed during the first maintenance window of the plant,
  • Detailed engineering and purchasing of main equipment progressed on offshore Khafji Crude Related project in the ex-Neutral Zone between Kuwait and Saudi Arabia,
• In Asia,
  • Engineering and procurement neared completion, while construction supervision progressed on Koniambo, New Caledonia,
  • Mobilization started on Prelude FLNG, Australia, after Shell’s final investment decision,
  • FEED activities continued on Petronas FLNG,
• In Brazil,
  • P-56 semi-submersible offshore facility was inaugurated by the President of Brazil and handed over to Petrobras,
  • Engineering works for P-58 and P-62 FPSO’s continued,
• Elsewhere,
  • First train of Block 1 Gas Development project in Turkmenistan was completed and inaugurated on July 12^th,
  • Start-up of Neste Oil biodiesel plant progressed in The Netherlands,
  • Engineering and procurement progressed well on Ikra in Russia, while construction supervision started,
  • Procurement works continued to progress on CNRL projects in Canada,
  • Engineering works continued and procurement activities started on Algiers refinery.

2. Order Intake and Backlog

During second quarter 2011, Technip’s order intake was €2,092 million.

The breakdown by business segment for the second quarter was as follows:

€ million	2Q 2010		2Q 2011
Subsea	772.8	50.8%	1,018.1	48.7%
Onshore/Offshore	748.5	49.2%	1,073.4	51.3%
Total	1,521.3	100.0%	2,091.5	100.0%

Subsea order intake included the renewal of a four-year long-term charter of the Sunrise 2000 in Brazil. Order intake also comprised several EPIC contracts in the North Sea with pipe-in-pipe technology and steel tube umbilicals, installation contracts in West Africa and several contracts in Brazil.

Onshore/Offshore order intake included the first contribution of Prelude FLNG contract in Australia and several contracts in Asia Pacific, notably for a mini LNG in China, chemical plants in Thailand, China and India, and offshore facilities in Australia.

Technip also signed a 10-year frame agreement with BP Exploration and Production Inc., covering the design, procurement and construction of hulls and mooring systems for Spar platforms in the Gulf of Mexico, as well as a services frame agreement with BASF for the development of petrochemical and chemical projects.

Listed in annex II (d) are the main contracts announced since April 2011 and their approximate value if publicly disclosed.

At the end of second quarter 2011, Technip’s backlog was €9,413 million, compared with €9,081 million at the end of first quarter 2011 and €8,263 million at the end of second quarter 2010. Approximately 35% of the backlog is expected to be scheduled in the last six months of 2011.

The backlog breakdown by business segment is as follows:

€ million	June 30, 2010		June 30, 2011
Subsea	3,057.3	37.0%	3,630.0	38.6%
Onshore/Offshore	5,205.5	63.0%	5,782.7	61.4%
Total	8,262.8	100.0%	9,412.7	100.0%

3. Capital Expenditures and Investments

Capital expenditure commitments for second quarter 2011 were €62 million compared with €90 million a year ago. The Skandi Niteroi completed her topside integration in Norway and is on her way to Brazil for final sea trials.

II. SECOND QUARTER 2011 FINANCIAL HIGHLIGHTS

1. Revenue

€ million	2Q 2010	2Q 2011	% Change
Subsea	687.6	659.7	(4.1)%
Onshore/Offshore	796.9	1,004.2	26.0%
Total	1,484.5	1,663.9	12.1%

Subsea major revenue contributors included Pazflor and Block 31 in Angola, West Delta Deep Marine Phase 8A in Egypt, as well as various contracts in the North Sea, Brazil, and Asia Pacific.

Onshore/Offshore major revenue contributors included Jubail refinery in Saudi Arabia, Asab 3 in Abu Dhabi and PMP in Qatar, as well as Block 1 Gas Development project in Turkmenistan, P-56 semi-submersible contract in Brazil, Ikra in Russia and several offshore services contracts in Asia Pacific.

Foreign exchange had a negative impact estimated at €35 million on Technip’s second quarter 2011 revenue.

Financial result on contracts accounted as revenue amounted to €3 million in second quarter 2011.

2. Operating Income from Recurring Activities

€ million	2Q 2010		2Q 2011		% Change
Subsea	116.1		111.9		(3.6)%
Operating Margin^4		16.9%		17.0%		8bp
Onshore/Offshore	56.5		76.4		35.2%
Operating Margin^4		7.1%		7.6%		52bp
Corporate	(12.1)		(12.7)		5.0%
Total	160.5		175.6		9.4%
Operating Margin^4		10.8%		10.6%		(26)bp

Subsea EBITDA margin³ was 21.4% for second quarter 2011 in line with second quarter 2010. Operating margin⁴ was 17.0%, driven by good execution on projects.

Onshore/Offshore combined operating margin⁴ rose from 7.1% a year ago to 7.6% in second quarter 2011 reflecting delivery or good progress on a broad range of mainly smaller and medium sized projects.

Corporate result was relatively stable year on year.

Foreign exchange had a negative impact estimated at €4 million on Technip’s second quarter 2011 operating income from recurring activities.

3. Operating Income

Operating income was €176 million in second quarter 2011 versus €163 million a year ago.

4. Net Income

€ million	2Q 2010	2Q 2011	% Change
Operating Income	162.5	175.6	8.1%
Financial Result	(8.1)	11.3	nm
Share of Income / (Loss) of Equity Affiliates	(1.0)	-	nm
Income Tax Expense	(48.2)	(55.6)	15.4%
Non-Controlling Interests	0.9	1.2	33.3%
Net Income	106.1	132.5	24.9%

Financial result in second quarter 2011 included a €15 million positive impact from changes in foreign exchange rates and fair market value of hedging instruments, compared with a €7 million negative impact in second quarter 2010.

Income tax expense was €56 million in second quarter 2011 giving an effective tax rate of 29.7%.

Diluted earnings per share⁵ grew by 17.1% to €1.15 in second quarter 2011, compared to €0.98 last year.

Average number of shares during second quarter 2011 on a diluted basis calculated as per IFRS was 117,267,300 versus 108,076,795 shares for the same quarter in 2010. The variation is mainly due to 6,6

18,531 shares related to the potential dilution of the convertible bond (OCEANE), and the stock options and performance shares granted by the Board of Directors to Technip’s employees.

5. Cash Flows and Financial Position

€ million
Net Cash Position as of March 31, 2011		1,300.4
Net Cash Generated from / (Used in) Operating Activities		71.4
of which:
Cash Generated from / (Used in) Operations	194.7
Change in Working Capital Requirements	(123.3)
Capital Expenditures		(64.2)
Dividends Paid		(156.1)
Other including FX Impacts		(41.4)
Net Cash Position as of June 30, 2011		1,110.1

As of June 30, 2011, Technip’s net cash position was €1,110 million compared with €1,332 million as of December 31, 2010 and €1,498 million as of June 30, 2010.

On July 21, 2011, Technip signed with 14 banks a 5-year €1 billion revolving credit facility, increased from €800 million after initial subscription, to meet its general corporate financing needs. This replaced the previous non-used syndicated credit of €850 million maturing in June 2012. Technip therefore completed the renewal of its main financing lines initiated with the 10-year €200 million bonds issued in July 2010, and the 5-year €550 million convertible bonds (OCEANE) issued in November 2010.

Shareholders’ equity as of June 30, 2011 was €3,366 million compared with €3,202 million as of December 31, 2010.

III. 2011 FULL YEAR OUTLOOK IMPROVED¹

• Group revenue around €6,500 - 6,700 million, unchanged
• Subsea revenue around €2,600 - 2,700 million, unchanged
• Subsea operating margin⁴ between 16.5% and 17.0%, formerly above 15%
• Onshore/Offshore combined operating margin⁴ between 6.5% and 7.0%, formerly between 6.0% and 6.5%

Notes:
^1	At current exchange rates.
^2	Operating income from recurring activities before depreciation and amortization.
^3	EBITDA divided by revenue.
^4	Operating income from recurring activities divided by revenue.
^5	As per IFRS, diluted earnings per share are calculated by dividing profit or loss attributable to the Parent Company’s Shareholders, restated from financial interest related to dilutive potential ordinary shares, by the weighted average number of outstanding shares during the period, plus the effect of dilutive potential ordinary shares related to the convertible bond, dilutive stock options and performance shares calculated according to the “Share Purchase Method” (IFRS 2), less treasury shares. In conformity with this method, anti-dilutive stock options are ignored in calculating EPS. Dilutive options are taken into account if the subscription price of the stock options plus the future IFRS 2 charge (i.e. the sum of annual charge to be recorded until the end of the stock option plan) is lower than the average market share price during the period.

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The information package on Second Quarter 2011 results includes this press release and the annexes which follow, as well as the presentation published on Technip’s website: www.technip.com

NOTICE

Today, July 28, 2011, Chairman and CEO Thierry Pilenko, along with CFO Julian Waldron, will comment on Technip’s results and answer questions from the financial community during a conference call in English starting at 10:00 a.m. CET.

To participate in the conference call, you may call any of the following telephone numbers approximately 5 - 10 minutes prior to the scheduled start time:

France / Continental Europe:	+ 33 (0)1 70 77 09 35
UK:	+ 44 (0)203 367 9458
USA:	+ 1 866 907 5924

The conference call will also be available via a simultaneous, listen-only audio-cast on Technip’s website.

A replay of this conference call will be available approximately two hours following the conference call for 90 days on the Technip’s website and for two weeks at the following telephone numbers:

	Telephone Numbers	Confirmation Code
France / Continental Europe:	+ 33 (0)1 72 00 15 00	273695#
UK:	+ 44 (0)203 367 9460	273695#
USA:	+ 1 877 642 3018	273695#

Cautionary note regarding forward-looking statements

This presentation contains both historical and forward-looking statements. These forward-looking statements are not based on historical facts, but rather reflect our current expectations concerning future results and events and generally may be identified by the use of forward-looking words such as “believe”, “aim”, “expect”, “anticipate”, “intend”, “foresee”, “likely”, “should”, “planned”, “may”, “estimates”, “potential” or other similar words. Similarly, statements that describe our objectives, plans or goals are or may be forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by these forward-looking statements. Risks that could cause actual results to differ materially from the results anticipated in the forward-looking statements include, among other things: our ability to successfully continue to originate and execute large services contracts, and construction and project risks generally; the level of production-related capital expenditure in the oil and gas industry as well as other industries; currency fluctuations; interest rate fluctuations; raw material (especially steel) as well as maritime freight price fluctuations; the timing of development of energy resources; armed conflict or political instability in the Arabian-Persian Gulf, Africa or other regions; the strength of competition; control of costs and expenses; the reduced availability of government-sponsored export financing; losses in one or more of our large contracts; U.S. legislation relating to investments in Iran or elsewhere where we seek to do business; changes in tax legislation, rules, regulation or enforcement; intensified price pressure by our competitors; severe weather conditions; our ability to successfully keep pace with technology changes; our ability to attract and retain qualified personnel; the evolution, interpretation and uniform application and enforcement of International Financial Reporting Standards (IFRS), according to which we prepare our financial statements as of January 1, 2005; political and social stability in developing countries; competition; supply chain bottlenecks; the ability of our subcontractors to attract skilled labor; the fact that our operations may cause the discharge of hazardous substances, leading to significant environmental remediation costs; our ability to manage and mitigate logistical challenges due to underdeveloped infrastructure in some countries where we are performing projects.

Some of these risk factors are set forth and discussed in more detail in our Annual Report. Should one of these known or unknown risks materialize, or should our underlying assumptions prove incorrect, our future results could be adversely affected, causing these results to differ materially from those expressed in our forward-looking statements. These factors are not necessarily all of the important factors that could cause our actual results to differ materially from those expressed in any of our forward-looking statements. Other unknown or unpredictable factors also could have material adverse effects on our future results. The forward-looking statements included in this release are made only as of the date of this release. We cannot assure you that projected results or events will be achieved. We do not intend, and do not assume any obligation to update any industry information or forward-looking information set forth in this release to reflect subsequent events or circumstances.

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This presentation does not constitute an offer or invitation to purchase any securities of Technip in the United States or any other jurisdiction. Securities may not be offered or sold in the United States absent registration or an exemption from registration. The information contained in this presentation may not be relied upon in deciding whether or not to acquire Technip securities.

This presentation is being furnished to you solely for your information, and it may not be reproduced, redistributed or published, directly or indirectly, in whole or in part, to any other person. Non-compliance with these restrictions may result in the violation of legal restrictions of the United States or of other jurisdictions.

Technip is a world leader in project management, engineering and construction for the energy industry.

From the deepest Subsea oil & gas developments to the largest and most complex Offshore and Onshore infrastructures, our 23,000 people are constantly offering the best solutions and most innovative technologies to meet the world’s energy challenges.

Present in 48 countries, Technip has state-of-the-art industrial assets on all continents and operates a fleet of specialized vessels for pipeline installation and subsea construction.

Technip shares are listed on the NYSE Euronext Paris exchange and the USA over-the-counter (OTC) market as an American Depositary Receipt (ADR: TKPPK).

OTC ADR ISIN: US8785462099

Technip’s website http://www.technip.com

Technip’s IR website http://investors-en.technip.com
Technip’s IR mobile website http://investors.mobi-en.technip.com

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ANNEX I (a)
CONSOLIDATED STATEMENT OF INCOME
IFRS, not audited
	Second Quarter			First Half
€ million
(Except Diluted Earnings per Share, and Diluted Number of Shares)	2010	2011	% ∆	2010	2011	% ∆
Revenue	1,484.5	1,663.9	12.1%	2,802.9	3,100.1	10.6%
Gross Margin	288.4	332.2	15.2%	542.1	611.8	12.9%
Research & Development Expenses	(13.3)	(15.1)	13.5%	(26.2)	(27.4)	4.6%
SG&A and Other	(114.6)	(141.5)	23.5%	(216.2)	(264.0)	22.1%
Operating Income from Recurring Activities	160.5	175.6	9.4%	299.7	320.4	6.9%
Non-Current Operating Result	2.0	-	nm	2.0	-	nm
Operating Income	162.5	175.6	8.1%	301.7	320.4	6.2%
Financial Result	(8.1)	11.3	nm	(11.3)	9.7	nm
Share of Income / (Loss) of Equity Affiliates	(1.0)	-	nm	-	-	nm
Income / (Loss) before Tax	153.4	186.9	21.8%	290.4	330.1	13.7%
Income Tax Expense	(48.2)	(55.6)	15.4%	(90.0)	(95.3)	5.9%
Non-Controlling Interests	0.9	1.2	33.3%	1.6	2.0	25.0%
Net Income	106.1	132.5	24.9%	202.0	236.8	17.2%
Diluted Number of Shares	108,076,795	117,267,300	8.5%	108,007,347	117,331,750	8.6%
Diluted Earnings per Share^5 (€)	0.98	1.15	17.1%	1.87	2.06	10.1%

ANNEX I (b)
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
IFRS
	Dec. 31, 2010	Jun. 30, 2011
	(audited)	(not audited)
€ million
Fixed Assets	4,146.0	4,253.8
Deferred Tax Assets	324.6	298.1
Non-Current Assets	4,470.6	4,551.9
Construction Contracts – Amounts in Assets	378.6	593.8
Inventories, Trade Receivables and Other	2,267.1	1,847.4
Cash & Cash Equivalents	3,105.7	2,289.9
Current Assets	5,751.4	4,731.1
Total Assets	10,222.0	9,283.0
Shareholders’ Equity (Parent Company)	3,179.8	3,350.8
Non-Controlling Interests	22.3	15.4
Shareholders’ Equity	3,202.1	3,366.2
Non-Current Financial Debts	1,092.1	1,148.0
Non-Current Provisions	110.2	113.7
Deferred Tax Liabilities and Other Non-Current Liabilities	144.7	196.8
Non-Current Liabilities	1,347.0	1,458.5
Current Financial Debts	681.3	31.8
Current Provisions	236.7	287.1
Construction Contracts – Amounts in Liabilities	694.9	654.7
Trade Payables & Other	4,060.0	3,484.7
Current Liabilities	5,672.9	4,458.3
Total Shareholders’ Equity & Liabilities	10,222.0	9,283.0
Net Cash Position	1,332.3	1,110.1

Statement of Changes in Shareholders’ Equity (Parent Company), not audited: € million
Shareholders’ Equity as of December 31, 2010	3,179.8
First Half 2011 Net Income	236.8
First Half 2011 Other Comprehensive Income	48.8
Capital Increase	21.3
Treasury Shares	13.2
Dividends Paid	(156.1)
Other	7.0
Shareholders’ Equity as of June 30, 2011	3,350.8

ANNEX I (c)
CONSOLIDATED STATEMENT OF CASH FLOWS
IFRS, not audited
	First Half
€ million	2010		2011
Net Income / (Loss)	202.0		236.8
Depreciation & Amortization of Fixed Assets	70.8		71.2
Stock Options and Performance Share Charges	5.7		22.4
Non-Current Provisions (including Employee Benefits)	2.0		4.2
Deferred Income Tax	(40.7)		20.5
Net (Gains) / Losses on Disposal of Assets and Investments	(9.8)		0.6
Non-Controlling Interests and Other	(1.6)		4.1
Cash Generated from / (Used in) Operations	228.4		359.8
Change in Working Capital Requirements	(366.5)		(269.1)
Net Cash Generated from / (Used in) Operating Activities		(138.1)		90.7
Capital Expenditures	(150.8)		(111.7)
Proceeds from Non-Current Asset Disposals	21.6		0.4
Acquisitions of Financial Assets	(28.9)		-
Change of Scope of Consolidation	2.4		12.6
Net Cash Generated from / (Used in) Investing Activities		(155.7)		(98.7)
Increase / (Decrease) in Borrowings	9.9		(615.5)
Capital Increase	2.6		21.3
Dividends Paid	(143.6)		(156.1)
Share Buy-Back	(6.8)		1.1
Net Cash Generated from / (Used in) Financing Activities		(137.9)		(749.2)
Net Effects of Foreign Exchange Rate Changes		180.3		(59.2)
Net Increase / (Decrease) in Cash and Cash Equivalents		(251.4)		(816.4)
Bank Overdrafts at Period Beginning	(1.2)		(0.1)
Cash and Cash Equivalents at Period Beginning	2,656.3		3,105.7
Bank Overdrafts at Period End	(0.4)		(0.7)
Cash and Cash Equivalents at Period End	2,404.1		2,289.9
		(251.4)		(816.4)

ANNEX I (d)
CASH AND FINANCIAL DEBTS - CURRENCY RATES
IFRS
	Cash and Financial Debts
	Dec. 31, 2010	Jun. 30, 2011
€ million	(audited)	(not audited)
Cash Equivalents	2,326.8	1,738.2
Cash	778.9	551.7
Cash & Cash Equivalents (A)	3,105.7	2,289.9
Current Financial Debts	681.3	31.8
Non-Current Financial Debts	1,092.1	1,148.0
Gross Debt (B)	1,773.4	1,179.8
Net Cash Position (A - B)	1,332.3	1,110.1

Foreign Currency Conversion Rates
	Closing Rate		Average Rate
	Dec. 31 2010	Jun. 30 2011	2Q 2010	2Q 2011	1H 2010	1H 2011
USD for 1 EUR	1.34	1.45	1.27	1.44	1.35	1.40
GBP for 1 EUR	0.86	0.90	0.85	0.88	0.88	0.87

ANNEX II (a)
REVENUE BY GEOGRAPHICAL AREA
IFRS, not audited
	Second Quarter			First Half
€ million	2010	2011	% Δ	2010	2011	% Δ
Europe, Russia, Central Asia	430.1	497.4	15.6%	696.1	895.4	28.6%
Africa	218.9	201.4	(8.0)%	510.3	484.9	(5.0)%
Middle East	304.5	393.1	29.1%	586.4	730.7	24.6%
Asia Pacific	184.5	205.1	11.2%	350.8	378.6	7.9%
Americas	346.5	366.9	5.9%	659.3	610.5	(7.4)%
TOTAL	1,484.5	1,663.9	12.1%	2,802.9	3,100.1	10.6%

ANNEX II (b)
ADDITIONAL INFORMATION BY BUSINESS SEGMENT
IFRS, not audited
	Second Quarter			First Half
€ million	2010	2011	% ∆	2010	2011	% ∆
SUBSEA
Revenue	687.6	659.7	(4.1)%	1,319.4	1,253.5	(5.0)%
Gross Margin	168.2	174.8	3.9%	323.3	327.3	1.2%
Operating Income from Recurring Activities	116.1	111.9	(3.6)%	224.3	211.9	(5.5)%
Operating Margin^4	16.9%	17.0%	8bp	17.0%	16.9%	(10)bp
Depreciation and Amortization	(29.2)	(29.6)	1.4%	(58.5)	(57.2)	(2.2)%
EBITDA^2	145.3	141.5	(2.6)%	282.8	269.1	(4.8)%
OFFSHORE
Revenue	185.5	229.2	23.6%	327.5	433.5	32.4%
Gross Margin	26.0	36.0	38.5%	50.6	62.7	23.9%
Operating Income from Recurring Activities	9.0	16.6	84.4%	20.0	26.7	33.5%
Operating Margin^4	4.9%	7.2%	239bp	6.1%	6.2%	5bp
Depreciation and Amortization	(2.7)	(2.8)	3.7%	(4.9)	(5.7)	16.3%
ONSHORE
Revenue	611.4	775.0	26.8%	1,156.0	1,413.1	22.2%
Gross Margin	94.5	122.0	29.1%	168.5	221.8	31.6%
Operating Income from Recurring Activities	47.5	59.8	25.9%	75.1	112.0	49.1%
Operating Margin^4	7.8%	7.7%	(5)bp	6.5%	7.9%	143bp
Depreciation and Amortization	(2.7)	(4.8)	77.8%	(6.5)	(8.1)	24.6%
CORPORATE
Operating Income from Recurring Activities	(12.1)	(12.7)	5.0%	(19.7)	(30.2)	1.5x
Depreciation and Amortization	(0.8)	0.2	nm	(0.8)	(0.2)	nm

ANNEX II (c)
ORDER INTAKE & BACKLOG
Not audited
	Order Intake by Business Segment
	Second Quarter
€ million	2010	2011	% Δ
Subsea	772.8	1,018.1	31.7%
Offshore	318.6	647.2	103.1%
Onshore	429.9	426.2	(0.9)%
TOTAL	1,521.3	2,091.5	37.5%
	Backlog by Business Segment
	As of	As of	As of
€ million	Jun. 30, 2010	Dec. 31, 2010	Jun. 30, 2011
Subsea	3,057.3	3,110.7	3,630.0
Offshore	600.8	1,130.9	1,483.3
Onshore	4,604.7	4,986.3	4,299.4
TOTAL	8,262.8	9,227.9	9,412.7
	Backlog by Geographical Area
	As of	As of	As of
€ million	Jun. 30, 2010	Dec. 31, 2010	Jun. 30, 2011
Europe, Russia, Central Asia	1,716.0	1,670.9	1,577.4
Africa	1,341.5	1,663.8	1,582.6
Middle East	3,066.3	2,958.9	2,278.8
Asia Pacific	660.5	680.3	1,258.5
Americas	1,478.5	2,254.0	2,715.4
TOTAL	8,262.8	9,227.9	9,412.7

	June 30, 2011 Backlog Estimated Scheduling
€ million	Subsea	Offshore	Onshore	Group
For 2011 (6 months)	1,313.3	413.8	1,529.9	3,257.0
For 2012	1,643.7	629.8	2,109.3	4,382.8
For 2013 and beyond	673.0	439.7	660.2	1,772.9
TOTAL	3,630.0	1,483.3	4,299.4	9,412.7

ANNEX II (d)

ORDER INTAKE

Not audited

In second quarter 2011, Technip’s order intake reached €2,092 million, compared with €1,521 million for the same period the year before. The main contracts that we announced during second quarter 2011 were:

Onshore was awarded by Canadian Natural Resources Limited an engineering, procurement and construction support services contract, worth approximately €100 million, for the Horizon project in Fort McMurray, Canada,

Offshore signed a 10-year frame agreement with BP Exploration and Production, Inc. covering the design, procurement and construction of hulls and mooring systems for Spar platforms to be located in the Gulf of Mexico,

Onshore was awarded a reimbursable contract for the engineering work and services related to procurement and construction management for the Macedon gas project located 17 kilometers of Onslow in North West Australia,

Subsea was awarded by Statoil / Norsk Hydro a contract, worth approximately €55 million, for the Vigdis North East field development located in the Norwegian Sea at a water depth of 220 - 310 meters,

Offshore was awarded by Statoil Brasil Óleo & Gàs Ltda. a frame agreement for engineering studies. The scope of this 3-year contract covers feasibility, concept and front-end engineering design studies for Statoil’s existing offshore production fields and future developments in Brazil,

Subsea was awarded a contract by Hibernia Management and Development Company Ltd. (HMDC) for the Hibernia Southern Extension project located 315 kilometers offshore Newfoundland and Labrador, Canada,

Onshore was awarded by BASF an Engineering Partner Umbrella Service Contract for chemical and petrochemical projects,

Offshore started to work on detailed design and construction of FLNG facility developed by Shell for Prelude field offshore Australia, Subsea was awarded by BP Exploration Operating Company Limited, a contract worth approximately €15 million for the Lan Do field development in Vietnam, Subsea was awarded by Endeavour Energy UK Ltd an EPCI lump sum contract, worth around €70 million, for the East Rochelle development in the United Kingdom North Sea. The field is located approximately 185 kilometers north-east of Aberdeen, Scotland.

Since July 1, 2011, Technip has also announced the award of the following contract that was included in the backlog as of June 30, 2011:

Onshore was awarded by Solvay an engineering services contract for studying the construction of a greenfield chemical plant in Taixing, Jiangsu Province, China.