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Russia: Technip ready to lose 23% of its global business

2022-03-03T18:31:55.729Z


The engineering and energy services group is renouncing any new contract in the country. He believes he can find sources of growth elsewhere.


Specializing in engineering and energy services, the Technip Energies group is undoubtedly one of the French groups with the most pronounced Russian accent.

On the occasion of the publication of its 2021 results, it engaged in a transparency exercise on its activities in this country.

This makes it possible to discover that he is very exposed to it.

In 2021, Russia accounted for 35% of the group's overall turnover, of 6.67 billion euros (+11%).

In terms of operating income, exposure is lower: 20% of the 431 million euros generated last year (at +22%).

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Last important indicator of Technip's exposure to Russia: the order book.

It stood at 16.4 billion euros, up 29% over one year.

And of this amount, 23%, or 3.8 billion euros, is made up of Russian contracts.

They are spread over the next five years.

The most important of these contracts is linked to the Arctic LNG 2 project, a huge project led by the Russian Novatek and the French…

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Source: lefigaro

All business articles on 2022-03-03

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