Technip’s Third Quarter 2011 Results

THIRD QUARTER 2011 RESULTS

• Revenue of €1,699 million, of which €754 million in Subsea
• Group operating margin⁴ of 10.6%: 16.9% in Subsea and 7.1% in Onshore/Offshore
• €2,352 million of order intake taking the backlog to €10,118 million
• Net income of €121 million
• Total net cash position at €1,313 million

FULL YEAR 2011 OUTLOOK: WITH INCREASED SUBSEA REVENUE¹

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

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

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

€ million (Except Diluted Earnings per Share)	3Q 10	3Q 11	% Change	Change ex. FX Impact	9M 10	9M 11	% Change	Change ex. FX Impact
Revenue	1,512.1	1,698.6	12.3%	15.6%	4,315.0	4,798.7	11.2%	11.9%
EBITDA^2	199.2	217.9	9.4%	11.2%	569.6	609.5	7.0%	7.2%
EBITDA Margin^3	13.2%	12.8%	(35)bp		13.2%	12.7%	(50)bp
Operating Income from Recurring Activities	155.7	180.9	16.2%	17.6%	455.4	501.3	10.1%	10.1%
Operating Margin^4	10.3%	10.6%	35bp		10.6%	10.4%	(11)bp
Operating Income	156.1	176.2	12.9%		457.8	496.6	8.5%
Net Income	103.4	121.0	17.0%		305.4	357.8	17.2%
Diluted Earnings per Share^5 (€)	0.95	1.07	12.3%		2.81	3.14	11.7%

On October 25, 2011, Technip’s Board of Directors approved the third quarter 2011 consolidated accounts. Chairman and CEO Thierry Pilenko commented: “The third quarter was active for Technip. Our order intake accelerated to over €2.3 billion, reflecting the positive trends in our industry that we highlighted at the first half of 2011. New orders were well spread across Subsea and Onshore/Offshore segments. They contained a mix of medium-sized projects, as in previous quarters, and some larger contributions, notably the Mariscal Sucre field development in Venezuela and an additional milestone on the Prelude FLNG. Despite the volatile economic backdrop, activity in the month of October has remained robust, as illustrated by the recent letter of award received for the charter and operation in Brazil of two Flex-Lay vessels with a top tension capacity of 550 tons.

We announced the proposed acquisition of Global Industries on September 12^th. The reaction from clients and internal teams to the prospect of the two companies working together was very encouraging. The preliminary proxy statement was filed in the US as part of the merger process, all technical aspects of the transaction are proceeding as planned and therefore it is possible that we will close the acquisition earlier than expected. Within legal constraints, Technip and Global teams have started to discuss the integration process.

We also maintained our focus on current operations and project delivery, and the performance of our teams is reflected in a good quarter for revenue and profit. Our revenue increased by 12.3% year-on-year, reflecting growth in all our segments. Our Group profit margin was 10.6%, slightly above the level a year ago, with Subsea at 16.9% and Onshore/Offshore just over 7%. We raised our full year profit expectations in July and are therefore able to maintain this positive outlook and to raise slightly our Subsea revenue expectations.

Looking ahead, our clients continue to invest in projects, through both FEED works and larger final investment decisions, and we therefore continue to see opportunities to expand in nearly all our markets. The risks to this outlook remain the same: the strength of competition should not be underestimated, and general economic and widespread political uncertainties will continue to impact the timetable for some projects, notably those which require financing. Nonetheless, the high oil price, combined with an increasing demand for gas, is driving upstream investments, while strategic and regional imperatives support downstream spending.

In this context, we seek to maintain our focus on strong operational performance and sustained and diversified order intake, as well as on organic and external growth underpinned by a solid balance sheet, to deliver value to both customers and shareholders.”

I. THIRD QUARTER 2011 REPORT

1. Operational Highlights

Subsea business segment’s main events were:

• In Africa, the completion of major operations on Pazflor in Angola enabled the operator to start production several weeks ahead of schedule, while offshore operations continued on West Delta Deep Marine Phase 8A in Egypt,
• In Canada, Hibernia project progressed well. In the North Sea, the Apache II completed the installation of 33 km of pipe-in-pipe on Devenick project, spooling of electrically trace heated pipe-in-pipe was completed at the Evanton spoolbase for Islay project, and manufacturing of smoothbore risers for Gjøa project was completed at our flexible pipe plant in Le Trait in France,
• In Brazil, work progressed on Papa Terra Integrated Production Bundles (IPB) and delivery of flexible pipes for the pre-salt Tupi Pilot development continued. Offshore operations with the Brazilian flagged Skandi Niteroi long-term charter started. The Deep Constructor also contracted on long-term charter in Brazil is on her way from Le Trait in France,
• In Asia Pacific, CWLH (Cossack Wanaea Lambert Hermes) was handed over to client in Australia, while offshore operations were completed on Kitan in the Timor Sea, and flexible pipes manufactured by Asiaflex were delivered for Sepat project in Malaysia,
• In the Gulf of Mexico, work on components of the Marine Well Containment System progressed,
• Vessel utilization rate was 93%, compared with 81% a year ago.

Onshore/Offshore business segment’s main events were:

• In the Middle East,
  • Site delivery of equipment and construction work continued to ramp-up on Jubail refinery in Saudi Arabia, where 11,500 workers are now mobilized on site,
  • Civil and mechanical works progressed on Asab 3 in Abu Dhabi, and construction work started on PMP in Qatar,
  • Procurement and yard fabrication progressed on Khafji Crude Related offshore project in the ex-Neutral Zone between Kuwait and Saudi Arabia,
• In Asia Pacific,
  • Construction progressed on Koniambo nickel smelter unit in New Caledonia,
  • Detailed engineering continued on Wheatstone gas processing platform in Australia,
  • Engineering work progressed and procurement started on Prelude FLNG in Australia,
  • FEED activities continued to progress on Petronas FLNG in Malaysia,
• In Latin America,
  • In Brazil, engineering work continued to progress on P58 & P62 FPSOs, while engineering work and procurement activities continued on Cubatão refinery,
  • FEED activities progressed on Ethylene XXI in Mexico and Cuba refinery,
• Elsewhere,
  • Neste Oil biodiesel project was completed in Rotterdam,
  • Second train of Block 1 Gas Development project in Turkmenistan is ready for start-up,
  • Engineering and procurement progressed on Ikra in Russia, while mobilization of the supervision team continued,
  • Engineering work and procurement activities continued on Algiers refinery,
  • Preliminary detailed engineering works started on Lucius Spar for the Gulf of Mexico.

2. Order Intake and Backlog

During third quarter 2011, Technip’s order intake was €2,352 million. The breakdown by business segment was as follows:

€ million	3Q 10		3Q 11
Subsea	720.2	44.3%	1,127.4	47.9%
Onshore/Offshore	905.5	55.7%	1,224.5	52.1%
Total	1,625.7	100.0%	2,351.9	100.0%

Subsea order intake included long-term charters to Petrobras for the Deep Constructor and the newly-built Brazilian-flagged Skandi Niteroi as well as the Subsea portion of Mariscal Sucre field development in Venezuela. Order intake also comprised several small and medium-sized contracts, notably in the North Sea, in the Gulf of Mexico and in China.

Onshore/Offshore order intake included notably an additional contribution from the Prelude FLNG project in Australia, the Onshore/Offshore portion of Mariscal Sucre field development in Venezuela, preliminary works for Lucius Spar in the Gulf of Mexico, Satah brownfield development in Abu Dhabi, a project for a synthetic lubricant base stock plant in the USA and FEEDs for fertilizer plants in Gabon and in Brazil.

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

At the end of third quarter 2011, Technip’s backlog was €10,118 million, compared with €9,413 million at the end of second quarter 2011 and €8,502 million at the end of third quarter 2010. Approximately 17% of the backlog is expected to be scheduled in the last three months of 2011.

The backlog breakdown by business segment is as follows:

€ million	September 30, 2010		September 30, 2011
Subsea	3,140.7	36.9%	4,065.5	40.2%
Onshore/Offshore	5,361.0	63.1%	6,052.7	59.8%
Total	8,501.7	100.0%	10,118.2	100.0%

3. Capital Expenditures and Investments

Capital expenditures for third quarter 2011 were €105 million, compared with €126 million a year ago. Technip received a letter of award for two 5-year Flex-Lay vessel charters in Brazil, to be built and operated via a Joint Venture with Odebrecht Oil & Gas. Capital expenditure payments for the full year are expected to be around €360 - 380 million.

II. THIRD QUARTER 2011 FINANCIAL HIGHLIGHTS

1. Revenue

€ million	3Q 10	3Q 11	% Change
Subsea	698.6	754.4	8.0%
Onshore/Offshore	813.5	944.2	16.1%
Total	1,512.1	1,698.6	12.3%

Subsea major revenue contributors included Pazflor in Angola, West Delta Deep Marine Phase 8A in Egypt, Tupi Pilot in Brazil, and Hibernia in Canada, as well as various contracts across all continents.

Onshore/Offshore major revenue contributors included Jubail refinery in Saudi Arabia, Asab 3 in Abu Dhabi, PMP in Qatar, Wheatstone platform in Australia and Ikra in Russia, as well as various contracts across all continents.

Foreign exchange had a negative impact estimated at €49 million on Technip’s third quarter 2011 revenue.

Financial result on contracts accounted as revenue amounted to €6 million in third quarter 2011.

2. Operating Income from Recurring Activities

€ million	3Q 10	3Q 11	% Change
Subsea	116.6	127.7	9.5%
Operating Margin^4	16.7%	16.9%	24bp
Onshore/Offshore	49.8	67.1	34.7%
Operating Margin^4	6.1%	7.1%	98bp
Corporate	(10.7)	(13.9)	29.9%
Total	155.7	180.9	16.2%
Operating Margin^4	10.3%	10.6%	35bp

Subsea EBITDA margin³ was 20.9% for third quarter 2011, compared with 22.0% a year ago. Operating margin⁴ was 16.9%, driven by good execution on projects, notably Pazflor in Angola, Hibernia in Canada, Devenick in the UK and CWLH in Australia.

Onshore/Offshore combined operating margin⁴ rose from 6.1% a year ago to 7.1% in third quarter 2011, reflecting good progress on a broad range of projects.

Corporate result was relatively stable quarter-on-quarter.

Foreign exchange had a negative impact estimated at €2 million on Technip’s third quarter 2011 operating income from recurring activities.

3. Operating Income

Operating income was €176 million in third quarter 2011 versus €156 million a year ago. A portion of the transaction costs related to the acquisition of Global Industries was recorded in this quarter with a negative impact of €4.7 million.

4. Net Income

€ million	3Q 10	3Q 11	% Change
Operating Income	156.1	176.2	12.9%
Financial Result	(8.9)	(3.3)	(62.9)%
Share of Income / (Loss) of Equity Affiliates	-	-	nm
Income Tax Expense	(43.3)	(51.9)	19.9%
Non-Controlling Interests	(0.5)	-	nm
Net Income	103.4	121.0	17.0%

Financial result in third quarter 2011 included lower debt interest costs and a €3 million positive impact from changes in foreign exchange rates and fair market value of hedging instruments, compared with a €7 million negative impact in third quarter 2010.

Income tax expense was €52 million in third quarter 2011, giving an effective tax rate of 30.0%.

Diluted earnings per share⁵ grew by 12.3% to €1.07 in third quarter 2011, compared with €0.95 last year.

Average number of shares during third quarter 2011 on a diluted basis, calculated as per IFRS, was 116,103,002 versus 108,874,580 shares for the same quarter in 2010. The variation is mainly due to 6,618,531 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 June 30, 2011	1,110.1
Net Cash Generated from / (Used in) Operating Activities	299.9
of which:
Cash Generated from / (Used in) Operations	194.5
Change in Working Capital Requirements	105.4
Capital Expenditures	(106.7)
Other including FX Impacts	9.7
Net Cash Position as of September 30, 2011	1,313.0

As of September 30, 2011, Technip’s net cash position was €1,313 million compared with €1,332 million as of December 31, 2010, and €1,357 million as of September 30, 2010.

Shareholders’ equity as of September 30, 2011, was €3,406 million compared with €3,202 million as of December 31, 2010.

III. OTHER – GLOBAL INDUSTRIES

As announced on September 12, 2011, Technip entered into a merger agreement to acquire Global Industries, Ltd. (“Global”). Upon completion of the merger, Global will become an indirect, wholly-owned subsidiary of Technip. The merger is subject to approval by Global’s shareholders who must also approve the amended and restated articles of incorporation, thus removing Global’s current limitation on non-U.S. ownership. Global’s preliminary proxy statement containing important information on the merger was filed with the U.S. Securities and Exchange Commission on October 7, 2011.

Under the terms of the merger agreement, the merger cannot be completed until regulatory approvals under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”), the Federal Economic Competition Law (“LFCE”) in Mexico and the Committee on Foreign Investment in the United States (“CFIUS”) have been obtained or applicable waiting periods have been terminated or expired. Pursuant to provisions of the HSR Act, Technip and Global each filed a notification on September 23, 2011. On October 24, 2011, the Federal Trade Commission notified Global and Technip of early termination of the waiting period, therefore satisfying the requirements of the HSR Act and the merger agreement. Technip and Global also submitted an antitrust filing in Mexico pursuant to the terms of the merger agreement. The waiting period under the LFCE expired on October 20, 2011, thereby satisfying the closing condition contained in the merger agreement.

The merger is also subject to review by CFIUS. Technip and Global submitted a joint voluntary notice to CFIUS on October 7, 2011. The waiting period during which CFIUS must conclude a preliminary review expires at 11:59 p.m. Eastern time on November 9, 2011.

Additional Information:

In connection with the proposed transaction, Global Industries, Ltd. has filed a preliminary proxy statement and other relevant documents with the SEC. Before making any voting decisions, investors and security holders of Global Industries, Ltd. are urged to read the preliminary proxy statement carefully and in its entirety, the definitive proxy statement when it is available and any other relevant documents filed with the SEC because they contain important information. Investors and security holders can obtain these documents free of charge at the website maintained by the SEC at www.sec.gov. In addition, documents filed with the SEC by Global Industries, Ltd. are available free of charge by writing Global Industries, Ltd. at the following address: Global Industries, Ltd., 8000 Global Industries, 8000 Global Drive, Carlyss, Louisiana 70665, USA, attention: Investor Relations. Documents filed with the SEC by Technip are available free of charge from Technip Investor Relations’ website at: http://investors-en.technip.com.

IV. 2011 FULL YEAR OUTLOOK: WITH INCREASED SUBSEA REVENUE¹

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

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.

The information package on Third 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, Thursday, October 27, 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 37
UK:	+ 44 (0)203 367 9459
USA:	+ 1 866 907 5923

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	274606#
UK:	+ 44 (0)203 367 9460	274606#
USA:	+ 1 877 642 3018	274606#

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.

****

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 25,000 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

ANNEX I (a) CONSOLIDATED STATEMENT OF INCOME IFRS, not audited
	Third Quarter			9 Months
€ million
(Except Diluted Earnings per Share, and Diluted Number of Shares)	2010	2011	% ∆	2010	2011	% ∆
Revenue	1,512.1	1,698.6	12.3%	4,315.0	4,798.7	11.2%
Gross Margin	300.7	312.4	3.9%	842.8	924.2	9.7%
Research & Development Expenses	(11.0)	(18.8)	1.7x	(37.2)	(46.2)	24.2%
SG&A and Other	(134.0)	(112.7)	(15.9)%	(350.2)	(376.7)	7.6%
Operating Income from Recurring Activities	155.7	180.9	16.2%	455.4	501.3	10.1%
Non-Current Operating Result	0.4	(4.7)	nm	2.4	(4.7)	nm
Operating Income	156.1	176.2	12.9%	457.8	496.6	8.5%
Financial Result	(8.9)	(3.3)	(62.9)%	(20.2)	6.4	nm
Share of Income / (Loss) of Equity Affiliates	-	-	nm	-	-	nm
Income / (Loss) before Tax	147.2	172.9	17.5%	437.6	503.0	14.9%
Income Tax Expense	(43.3)	(51.9)	19.9%	(133.3)	(147.2)	10.4%
Non-Controlling Interests	(0.5)	-	nm	1.1	2.0	1.8x
Net Income / (Loss)	103.4	121.0	17.0%	305.4	357.8	17.2%
Diluted Number of Shares	108,874,580	116,103,002	6.6%	108,597,631	116,297,370	7.1%
Diluted Earnings per Share^5 (€)	0.95	1.07	12.3%	2.81	3.14	11.7%

ANNEX I (b) CONSOLIDATED STATEMENT OF FINANCIAL POSITION IFRS
	Dec. 31, 2010	Sept. 30, 2011
	(audited)	(not audited)
€ million
Fixed Assets	4,146.0	4,211.3
Deferred Tax Assets	324.6	297.9
Non-Current Assets	4,470.6	4,509.2
Construction Contracts – Amounts in Assets	378.6	503.9
Inventories, Trade Receivables and Other	2,267.1	2,056.6
Cash & Cash Equivalents	3,105.7	2,523.3
Current Assets	5,751.4	5,083.8
Total Assets	10,222.0	9,593.0
Shareholders’ Equity (Parent Company)	3,179.8	3,391.2
Non-Controlling Interests	22.3	14.8
Shareholders’ Equity	3,202.1	3,406.0
Non-Current Financial Debts	1,092.1	1,056.3
Non-Current Provisions	110.2	132.1
Deferred Tax Liabilities and Other Non-Current Liabilities	144.7	202.9
Non-Current Liabilities	1,347.0	1,391.3
Current Financial Debts	681.3	154.0
Current Provisions	236.7	281.5
Construction Contracts – Amounts in Liabilities	694.9	594.0
Trade Payables & Other	4,060.0	3,766.2
Current Liabilities	5,672.9	4,795.7
Total Shareholders’ Equity & Liabilities	10,222.0	9,593.0
Net Cash Position	1,332.3	1,313.0

Statement of Changes in Shareholders’ Equity (Parent Company), not audited: € million
Shareholders’ Equity as of December 31, 2010	3,179.8
9 Months 2011 Net Income	357.8
9 Months 2011 Other Comprehensive Income	(38.2)
Capital Increase	26.0
Treasury Shares	23.2
Dividends Paid	(156.1)
Other	(1.3)
Shareholders’ Equity as of September 30, 2011	3,391.2

ANNEX I (c) CONSOLIDATED STATEMENT OF CASH FLOWS IFRS, not audited
	9 Months
€ million	2010		2011
Net Income / (Loss)	305.4		357.8
Depreciation & Amortization of Fixed Assets	102.8		108.2
Stock Options and Performance Share Charges	14.2		31.5
Non-Current Provisions (including Employee Benefits)	3.5		21.8
Deferred Income Tax	(51.1)		27.4
Net (Gains) / Losses on Disposal of Assets and Investments	1.6		0.1
Non-Controlling Interests and Other	(1.1)		7.5
Cash Generated from / (Used in) Operations	375.3		554.3
Change in Working Capital Requirements	(492.8)		(163.7)
Net Cash Generated from / (Used in) Operating Activities		(117.5)		390.6
Capital Expenditures	(277.2)		(218.4)
Proceeds from Non-Current Asset Disposals	23.7		3.7
Acquisitions of Financial Assets	(29.3)		(1.5)
Change of Scope of Consolidation	2.4		12.6
Net Cash Generated from / (Used in) Investing Activities		(280.4)		(203.6)
Net Increase / (Decrease) in Borrowings	347.4		(573.5)
Capital Increase	10.6		26.0
Dividends Paid	(143.6)		(156.1)
Share Buy-Back	(4.7)		(4.7)
Net Cash Generated from / (Used in) Financing Activities		209.7		(708.3)
Net Effects of Foreign Exchange Rate Changes		169.0		(61.1)
Net Increase / (Decrease) in Cash and Cash Equivalents		(19.2)		(582.4)
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	(0.2)		(0.1)
Cash and Cash Equivalents at Period End	2,636.1		2,523.3
		(19.2)		(582.4)

ANNEX I (d) CASH AND FINANCIAL DEBTS - CURRENCY RATES IFRS
	Cash and Financial Debts
	Dec. 31, 2010	Sept. 30, 2011
€ million	(audited)	(not audited)
Cash Equivalents	2,326.8	1,847.3
Cash	778.9	676.0
Cash & Cash Equivalents (A)	3,105.7	2,523.3
Current Financial Debts	681.3	154.0
Non-Current Financial Debts	1,092.1	1,056.3
Gross Debt (B)	1,773.4	1,210.3
Net Cash Position (A - B)	1,332.3	1,313.0

Foreign Currency Conversion Rates
	Closing Rate		Average Rate
	Dec. 31 2010	Sept. 30 2011	3Q 2010	3Q 2011	9M 2010	9M 2011
USD for 1 EUR	1.34	1.35	1.29	1.41	1.32	1.41
GBP for 1 EUR	0.86	0.87	0.83	0.88	0.86	0.87

ANNEX II (a) REVENUE BY GEOGRAPHICAL AREA IFRS, not audited
	Third Quarter			9 Months
€ million	2010	2011	% Δ	2010	2011	% Δ
Europe, Russia, Central Asia	468.7	487.0	3.9%	1,164.8	1,382.4	18.7%
Africa	258.9	193.3	(25.3)%	769.2	678.2	(11.8)%
Middle East	274.9	364.7	32.7%	861.3	1,095.4	27.2%
Asia Pacific	177.3	251.0	41.6%	528.1	629.6	19.2%
Americas	332.3	402.6	21.2%	991.6	1,013.1	2.2%
TOTAL	1,512.1	1,698.6	12.3%	4,315.0	4,798.7	11.2%

ANNEX II (b) ADDITIONAL INFORMATION BY BUSINESS SEGMENT IFRS, not audited
	Third Quarter			9 Months
€ million	2010	2011	% ∆	2010	2011	% ∆
SUBSEA
Revenue	698.6	754.4	8.0%	2,018.0	2,007.9	(0.5)%
Gross Margin	182.0	176.6	(3.0)%	505.3	503.9	(0.3)%
Operating Income from Recurring Activities	116.6	127.7	9.5%	340.9	339.6	(0.4)%
Operating Margin^4	16.7%	16.9%	24bp	16.9%	16.9%	2bp
Depreciation and Amortization	(36.9)	(30.1)	(18.4)%	(95.4)	(87.3)	(8.5)%
EBITDA^2	153.5	157.8	2.8%	436.3	426.9	(2.2)%
OFFSHORE
Revenue	196.9	238.6	21.2%	524.4	672.1	28.2%
Gross Margin	28.8	28.5	(1.0)%	79.4	91.2	14.9%
Operating Income from Recurring Activities	9.4	12.0	27.7%	29.4	38.7	31.6%
Operating Margin^4	4.8%	5.0%	26bp	5.6%	5.8%	15bp
Depreciation and Amortization	(3.0)	(2.7)	(10.0)%	(7.9)	(8.4)	6.3%
ONSHORE
Revenue	616.6	705.6	14.4%	1,772.6	2,118.7	19.5%
Gross Margin	89.8	107.3	19.5%	258.3	329.1	27.4%
Operating Income from Recurring Activities	40.4	55.1	36.4%	115.5	167.1	44.7%
Operating Margin^4	6.6%	7.8%	126bp	6.5%	7.9%	137bp
Depreciation and Amortization	(4.3)	(3.4)	(20.9)%	(10.8)	(11.5)	6.5%
CORPORATE
Operating Income from Recurring Activities	(10.7)	(13.9)	29.9%	(30.4)	(44.1)	45.1%
Depreciation and Amortization	0.7	(0.8)	nm	(0.1)	(1.0)	10.0x

ANNEX II (c) ORDER INTAKE & BACKLOG Not audited
	Order Intake by Business Segment
	Third Quarter
€ million	2010		2011		% Δ
Subsea	720.2		1,127.4		56.5%
Offshore	485.3		985.7		2.0x
Onshore	420.2		238.8		(43.2)%
TOTAL	1,625.7		2,351.9		44.7%
	Backlog by Business Segment
	As of		As of		As of
€ million	Sept. 30, 2010		Dec. 31, 2010		Sept. 30, 2011
Subsea	3,140.7		3,110.7		4,065.5
Offshore	907.0		1,130.9		2,210.8
Onshore	4,454.0		4,986.3		3,841.9
TOTAL	8,501.7		9,227.9		10,118.2
	Backlog by Geographical Area
	As of		As of		As of
€ million	Sept. 30, 2010		Dec. 31, 2010		Sept. 30, 2011
Europe, Russia, Central Asia	1,830.8		1,670.9		1,496.8
Africa	1,162.5		1,663.8		1,468.8
Middle East	3,209.0		2,958.9		2,066.7
Asia Pacific	638.1		680.3		1,655.2
Americas	1,661.3		2,254.0		3,430.7
TOTAL	8,501.7		9,227.9		10,118.2
	September 30, 2011 Backlog Estimated Scheduling
€ million	Subsea	Offshore		Onshore		Group
For 2011 (3 months)	748.9	260.6		704.7		1,714.2
For 2012	2,226.7	1,163.2		1,875.8		5,265.7
For 2013 and beyond	1,089.9	787.0		1,261.4		3,138.3
TOTAL	4,065.5	2,210.8		3,841.9		10,118.2

ANNEX II (d) ORDER INTAKE Not audited

In third quarter 2011, Technip’s order intake reached €2,352 million, compared with €1,626 million for the same period the year before. The main contracts that we announced during third quarter 2011 were:

Offshore received a Letter of Intent from Anadarko Petroleum Corporation to begin preliminary works on the engineering, construction and transport of a 23,000 ton Truss Spar hull for the Lucius field development in the Gulf of Mexico,

Subsea was awarded an installation contract worth approximately €40 million by Maersk Oil North Sea UK Limited for the Gryphon Area Reinstatement Program, located about 320 kilometers northeast of Aberdeen,

Offshore was awarded an engineering, procurement and construction lump-sum contract by ZADCO worth a total of approximately $500 million (Technip’s part of the contract: 35%) for the Satah Full Field Development project in Abu Dhabi,

Onshore was awarded by Gabon Fertilizers Company a strategic engineering contract for a world class grassroots ammonia-urea fertilizer project to be developed at Port Gentil, Gabon,

Onshore was awarded a contract for providing basic and front-end engineering services on a Petrobras grassroots fertilizer complex to be located at Uberaba, Brazil,

Subsea and Onshore/Offshore were awarded a major procurement, installation and operation support contract by Petroleos de Venezuela S.A. (PDVSA) for an accelerated production system on the Mariscal Sucre Dragon development, offshore Venezuela.

Since October 1, 2011, Technip has also announced the award of the following contracts, which were included in the backlog as of September 30, 2011:

Subsea was awarded two contracts by Shell Offshore Inc for the engineering, project management and construction of two umbilicals for the Cardamom and West Boreas field developments, located in the Gulf of Mexico, Onshore was awarded a contract by ExxonMobil Chemical for project management, detailed engineering, procurement, and construction for a grassroots lubricant base stock facility in Texas, USA.

Since October 1, 2011, Technip has also announced the award of the following contract, which was not included in the backlog as of September 30, 2011:

Subsea was awarded by Valiant Causeway Limited a lump sum contract, worth approximately €33 million, for the Causeway field development. This field is located about 450 kilometers North-east of Aberdeen, Scotland at a water depth of 150 meters.