Technip’s Third Quarter 2016 Results: Strong Group Profitability at c.10%, 2016 Objectives Upgraded

Regulatory News:

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

THIRD QUARTER 2016: STRONG FINANCIALS

• Net Income up 12.4% versus 3Q 15 to €184 million
• Adjusted Operating Margin¹ at c.10%, up 0.4% versus 3Q 15
• Adjusted net cash resilient at €1.8 billion
• Order intake at €1.5 billion in line with recent quarters
• Adjusted revenue at €2.9 billion, stable at constant currency versus 3Q 15

EFFECTIVE EXECUTION AND COST REDUCTION

• Successful offshore campaigns, strong vessel utilization in Subsea, and successful sail away of all 78 modules for phase 1 of Yamal LNG project
• Cost reduction plan on track: €900 million savings by year-end 2016 out of a total of over €1 billion

FULL YEAR 2016 OBJECTIVES UPGRADED

• Subsea upgraded: adjusted revenue above €5.0 billion (previously between €4.7 and €5.0 billion), adjusted Operating Income From Recurring Activities² around €700 million (previously around €680 million)
• Onshore/Offshore unchanged: adjusted revenue between €5.7 and €6.0 billion, adjusted Operating Income From Recurring Activities² around €280 million

MERGER UPDATE

• Major regulatory milestones achieved
• Shareholder meetings called for December 5, 2016

¹ Adjusted operating income from recurring activities after income/(loss) of equity affiliates, divided by adjusted revenue.
² Adjusted operating income from recurring activities after income/(loss) of equity affiliates.

Note: The third quarter 2016 results presented in this press release were prepared on the adjusted basis as described in Technip’s fourth quarter 2015 press release. These results reflect the financial reporting framework used for management purposes.

• 3Q 16 revenue at €2,126 million within IFRS framework and €2,919 million within adjusted framework
• 3Q 16 net income at €184 million within both IFRS and adjusted frameworks

On October 25, 2016, Technip’s Board of Directors approved the condensed interim consolidated financial statements for the first nine-month period ended September 30, 2016.

€ million (except Diluted Earnings per Share)			3Q 15				3Q 16				Change				9M 15				9M 16				Change
Adjusted Revenue			3,108.9				2,919.4				(6.1)%				9,090.6				8,494.4				(6.6)%
Subsea			1,547.0				1,397.2				(9.7)%				4,388.4				4,148.8				(5.5)%
Onshore/Offshore			1,561.9				1,522.2				(2.5)%				4,702.2				4,345.6				(7.6)%
Adjusted Underlying EBITDA1			371.8				352.7				(5.1)%				968.5				981.8				1.4%
Adjusted Underlying EBITDA Margin			12.0%				12.1%				12bp				10.7%				11.6%				90bp
Adjusted Underlying OIFRA2			292.0				284.6				(2.5)%				745.2				780.9				4.8%
Subsea			232.0				229.1				(1.3)%				647.5				610.6				(5.7)%
Onshore/Offshore			75.5				70.3				(6.9)%				152.2				213.5				40.3%
Adjusted Underlying Operating Margin3			9.4%				9.7%				36bp				8.2%				9.2%				100bp
One-off Charge			(14.4)				(9.0)				nm				(584.8)				(98.5)				nm
Underlying Net Income4			184.3				203.2				10.3%				475.3				523.9				10.2%
Net Income of the Parent Company			163.9				184.3				12.4%				(56.9)				422.0				nm
Diluted Earnings per Share5 (€)			1.35				1.46				8.0%				(0.50)				3.44				nm
Order Intake			1,746				1,514								4,757				3,927
Backlog			17,459				12,285								17,459				12,285

¹ Adjusted operating income from recurring activities after income/(loss) of equity affiliates excluding exceptional items, depreciation and amortization. No exceptional items in 9M16.
² Adjusted operating income from recurring activities after income/(loss) of equity affiliates excluding exceptional items. No exceptional items in 9M16.
³ Adjusted operating income from recurring activities after income/(loss) of equity affiliates excluding exceptional items, divided by adjusted revenue. No exceptional items in 9M16.
⁴ Net income of the parent company excluding exceptional items. See annex V.
⁵ As per IFRS, diluted earnings per share are calculated by dividing income/(loss) attributable to the parent company’s shareholders, restated for 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 bonds, 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 and still outstanding IFRS 2 charge is lower than the average market share price during the EPS reference period.

Thierry Pilenko, Chairman and CEO, commented: "A robust operational performance associated with strong cost reduction measures enabled Technip to record a solid third quarter including an adjusted margin on recurring operations nearing 10%. In addition, we have made considerable progress towards our merger with FMC Technologies passing major regulatory milestones. Last, we recorded a first project win for our alliance.

Third Quarter Performance

In Subsea, we started handover to clients on a range of projects, including T.E.N. in Ghana ahead of schedule. Vessel utilization remained strong at 86% reflecting efficient management of our high-end fleet, including in Brazil where we have 5 vessels on charter. We continued to be busy also across our flexible manufacturing plants. In Onshore/Offshore, on the Yamal project, we completed the sail away of all 78 modules planned for the first phase of the project, and their delivery on the Sabetta site in Siberia is ahead of schedule. Mobilisation on site has also been impressive this year, with over 10,000 people now active on the site construction and hook-up.

Our cost reduction efforts continued as planned and enabled us to sustain our adjusted group margins at 9.7% (compared to 9.4% last year) despite revenues being down 6.1% year-on-year.

Technip's adjusted OIFRA was therefore €285 million compared to €260 million in the second quarter and €292 million a year ago. Net income rose 12.4% to €184 million.

Our cash-flow showed the expected outflow of working capital as we applied contract advances to project progress but net cash was resilient at €1.8 billion.

Order intake was in line with last quarters, with nearly €0.5 billion in Subsea and €1 billion in Onshore/Offshore, with the Greater Enfield and Jebel Ali projects being the most important awards.

Market Outlook

Our teams are busy tendering on new projects, even if the picture is varied across geographic regions.

Onshore/Offshore remains quite robust and we continue to see opportunities to get involved early with customers, positioning ourselves for future projects. The resilience of this segment is underpinned by our long-lasting client relationships, our front-end presence and our proprietary technology. We continue to be well positioned on a number of promising early stage Onshore/Offshore projects.

In Subsea, we are seeing pockets of growing demand, for example greenfield in the North Sea, and sustained interest for long tiebacks and field extensions. Also, our clients continue to work with us on securing structural cost reduction in offshore developments. This interest has accelerated over last six months through our Technip / FMC Technologies Alliance, with 17 integrated early stage studies at the Forsys Subsea joint venture and our first follow-on business - a fast track development of the Lancaster field in the North Sea.

Overall, we remain confident in our ability to drive change in our industry and therefore to enable our clients to make new offshore investments on a profitable basis, even in a low oil price environment.

Turning to our full year 2016 objectives, our Subsea guidance is upgraded with adjusted revenues expected above €5 billion and adjusted OIFRA around €700 million, while our Onshore/Offshore guidance remains unchanged in every respect.

We expect to enter 2017 with a good backlog and promising prospects, and intend to continue to drive out costs down and focus on solid project execution. Based on these elements, we would expect for 2017: Subsea to deliver roughly stable adjusted margins on lower adjusted revenues; Onshore/Offshore to deliver rising adjusted profit and adjusted margins on slightly lower revenues.

Merger with FMC Technologies

A number of important milestones have been reached over the last three months. Along with obtaining anti-trust in most countries, we have foreign investment approval both in the US and France. The necessary regulatory fillings have also been validated.

As a result, we confirm that both companies will hold their shareholders' meetings on December 5, 2016. This would enable our merger to close in January, earlier than originally planned.

Conclusion

To conclude, Technip’s teams have shown their ability in the third quarter to capitalize on the backlog to deliver solid revenue and profit, even in the current downturn of our industry. We have retained a robust, liquid balance sheet. Based on our proven model, we are proving capable of winning diversified and integrated new projects. Last, we are taking further our strategy to create a broad based oilfield services company through the merger with FMC Technologies, which will create the third largest company in our sector, well placed to create substantial value for all our stakeholders.”

I. ORDER INTAKE AND BACKLOG

1. Third Quarter 2016 Order Intake

During third quarter 2016, Technip’s order intake was €1.5 billion. The breakdown by business segment was as follows:

Order Intake1 (€ million)			3Q 2015				3Q 2016
Subsea			530				486
Onshore/Offshore			1,216				1,028
Total			1,746				1,514

Subsea order intake included a large contract for the development of the Greater Enfield Project in the North West Shelf, Australia. This project covers project management, design, engineering, procurement, installation and pre-commissioning (EPIC) of flowlines, flexible risers, umbilicals and other subsea structures. The flexible pipes will be manufactured in Asiaflex in Malaysia, while the umbilicals will be supplied by Technip Umbilicals’ facility in Newcastle, UK. A range of vessels from the Group’s fleet will be involved in the project.

Onshore/Offshore order intake included a large engineering, procurement and construction (EPC) contract covering the design and construction of new processing and ancillary units for the expansion of the Jebel Ali refinery in United Arab Emirates, on which Technip worked when it was first built. The main package of the project consists of adding a new Condensate processing train to the existing facility, expanding its daily capacity to 210,000 barrels, up from 140,000 barrels per day.

In Russia, Technip was awarded a contract to provide engineering and procurement of three proprietary SMK™ grassroots furnaces at Kazan, Republic of Tatarstan. The furnaces will be part of an ethylene plant at the site. The project represents another step in the ongoing cracking furnaces replacement program of the client.

Listed in annex IV are the main contracts announced since July 2016 and their approximate value if publicly disclosed.

2. Backlog

At the end of third quarter 2016, Technip’s backlog was €12.3 billion, compared with €13.5 billion at the end of second quarter 2016 and €17.5 billion at the end of third quarter 2015.

Estimated Backlog2 Scheduling as of September 30, 2016 (€ million)				Subsea				Onshore/Offshore				Group
2016 (3 months)				1,006				1,337				2,343
2017				2,566				3,639				6,205
2018 and beyond				1,506				2,231				3,737
Total				5,078				7,207				12,285

¹ Order intake includes all projects for which revenues are consolidated in our adjusted financial statements.
² Backlog includes all projects for which revenues are consolidated in our adjusted financial statements.

II. THIRD QUARTER 2016 OPERATIONAL & FINANCIAL HIGHLIGHTS – ADJUSTED BASIS

1. Subsea

Subsea main operations for the quarter were as follows:

• In the Americas:
  • In the US Gulf of Mexico, the Deep Blue successfully completed its offshore operations on the Thunder Horse South Expansion and Odd Job projects, and also completed the first trip of a combined installation campaign on the Blind Faith and the South Santa Cruz and Barataria developments. Meanwhile, the final completion certificate for Stones DC1 was received.
  • In Brazil, at our manufacturing plants in Vitória and Açu, flexible pipe production progressed for the pre-salt fields of Lula Alto, Iracema Norte and Libra Extended Well Test, and was completed for the Iracema Sul field. Meanwhile, the pipe-lay support vessel (PLSV) Skandi Açu was delivered and started working under its 8-year long term charter contract.
  • In Central America, the first diving trip on the Juniper project was completed by the Wellservicer which was subsequently mobilized on Mariscal Sucre Dragon development in Venezuela.

• In the North Sea, offshore operations continued on Quad 204 where the North Sea Atlantic completed all riser connections to the Glen Lyon FPSO and started infield works. On Edradour, the Deep Energy and the Skandi Africa successfully completed the 2016 offshore campaign, the former installing rigid pipelines and the latter manifolds and umbilicals. On Greater Stella, the Apache completed the oil export pipeline installation campaign, while the Orelia was mobilized in the end of the quarter to perform the tie-ins and commissioning.
• In Asia Pacific, the Deep Orient vessel completed the offshore operations related to the jumper metrology on Prelude in Australia and was mobilized once again on the project in the end of the quarter to perform the jumper installation campaign. Meanwhile, in Indonesia, the G1201 completed the S-lay campaign on Jangkrik at the end of the quarter, and started transit to Trinidad and Tobago to work on the Juniper project.
• In West Africa, the Deep Pioneer successfully completed its offshore operations on T.E.N. in Ghana and on the Mpungi North, part of the Block 15/06 development in Angola, while the G1200 vessel continued working on Moho Nord in Congo. On Kaombo, engineering and procurement progressed and umbilicals fabrication continued in our manufacturing plants, while the welding of the rigid pipes started in the Dande spoolbase, in Angola.

Overall, the Group vessel utilization rate for the third quarter of 2016 was 86%, below the 89% in the third quarter of 2015 and above the 77% in the second quarter of 2016. The Olympic Challenger lease charter expired, returned to its owner and left the Technip fleet.

Subsea financial performance is set out in the following table:

€ million			3Q 2015				3Q 2016				Change
Subsea
Adjusted Revenue			1,547.0				1,397.2				(9.7)%
Adjusted EBITDA			302.4				289.5				(4.3)%
Adjusted EBITDA Margin			19.5%				20.7%				117bp
Adjusted OIFRA after Income/(Loss) of Equity Affiliates*			232.0				229.1				(1.3)%
Adjusted Operating Margin			15.0%				16.4%				140bp

* No one-off charge accounted in Subsea adjusted operating income from recurring activities.

2. Onshore/Offshore

Onshore/Offshore main operations for the quarter were as follows:

• In the Middle East, the float-over of the topsides was accomplished for the FMB platforms, offshore Qatar. Meanwhile, in United Arab Emirates, fabrication continued for the Umm Lulu complex and mobilization started for the design and construction of new processing and ancillary units for the expansion of the Jebel Ali refinery.
• In Asia Pacific, installation works were successfully completed for the Malikai tension leg platform (TLP) offshore Malaysia, while the Petronas FLNG Satu neared Ready For Start Up. In South Korea, integration and commissioning activities continued on the Prelude FLNG. In Brunei, construction was completed for the Maharaja Lela & Jamalulalam South project.
• In Europe and Russia, all 78 modules of the phase 1 of the Yamal LNG project sailed away to Sabetta. 75 modules have already been delivered to the site and 3 modules are currently passing through the Northern Sea Route. In Slovakia, construction activities progressed well for the Duslo ammonia plant with the erection of steel structures ongoing. In the Czech Republic, procurement activities continued for the Litvinov polyethylene plant.

• In Africa, early works progressed well for the MIDOR refinery modernization and expansion project in Egypt.
• In the Americas, construction activities continued on the CPChem polyethylene plant in Texas and on Sasol’s ethane cracker and derivative complex near Lake Charles, Louisiana. The mechanical completion of the jacket was achieved for the Juniper platform in Trinidad and Tobago.

Onshore/Offshore financial performance is set out in the following table:

€ million			3Q 2015				3Q 2016				Change
Onshore/Offshore
Adjusted Revenue			1,561.9				1,522.2				(2.5)%
Adjusted OIFRA after Income/(Loss) of Equity Affiliates*			75.5				70.3				(6.9)%
Adjusted Underlying Operating Margin			4.8%				4.6%				(22)bp

* No one-off charge accounted in Onshore/Offshore adjusted operating income from recurring activities.

3. Group

The Group’s adjusted operating income from recurring activities after income/(loss) of equity affiliates is set out in the table below. Corporate charges fell to €15 million from €16 million in the third quarter 2015.

€ million			3Q 2015				3Q 2016				Change
Group
Adjusted Revenue			3,108.9				2,919.4				(6.1)%
Adjusted OIFRA after Income/(Loss) of Equity Affiliates*			292.0				284.6				(2.5)%
Adjusted Underlying Operating Margin			9.4%				9.7%				36bp

* No one-off charge accounted in adjusted operating income from recurring activities.

In the third quarter of 2016, compared to a year ago, the estimated translation impact from foreign exchange was negative €94 million on adjusted revenue and negative €21 million on adjusted operating income from recurring activities after income/(loss) of equity affiliates.

4. Adjusted Non-Current Items and Group Net Income

Adjusted non-current operating items of €(9) million were booked in the quarter mainly related to the restructuring plan. We continue to expect to deliver €900 million of cost savings in 2016 out of a total of over €1 billion. In addition, we booked €12 million of transaction costs in the quarter related to the combination with FMC Technologies.

Adjusted financial result in the third quarter of 2016 included net interest expenses of only €4 million and a €9 million positive impact from changes in foreign exchange rates and the fair market value of hedging instruments.

€ million (except Diluted Earnings per Share and Diluted Number of Shares)		3Q 2015		3Q 2016		Change
Adjusted OIFRA after Income/(Loss) of Equity Affiliates*		292.0		284.6		(2.5)%
Adjusted Non-Current Operating Result		(14.0)		(21.6)		54.3%
Adjusted Financial Result		(39.2)		4.1		nm
Adjusted Income Tax Expense		(70.3)		(83.4)		18.6%
Adjusted Effective Tax Rate		29.4%		31.2%		179bp
Adjusted Non-Controlling Interests		(4.6)		0.6		nm
Net Income of the Parent Company		163.9		184.3		12.4%
Underlying Net Income		184.3		203.2		10.3%
Diluted Number of Shares		125,439,384		126,896,391		1.2%
Diluted Earnings per Share (€)		1.35		1.46		8.0%

* No one-off charge accounted in adjusted operating income from recurring activities.

5. Adjusted Cash Flow and Statement of Consolidated Financial Position

As of September 30, 2016, the cash and cash equivalents were as follows (€ million):

Adjusted Cash1 as of June 30, 2016		4,494.9
Adjusted Cash Generated from/(used in) Operating Activities		(198.9)
Adjusted Cash Generated from/(used in) Investing Activities		(35.3)
Adjusted Cash Generated from/(used in) Financing Activities*		(161.8)
Adjusted FX Impacts		47.7
Adjusted Cash1 as of September 30, 2016		4,146.6

*out of which share buy-back for €135.7 million

As of September 30, 2016, the adjusted net cash position was €1,824 million, down €368 million compared with €2,192 million as of June 30, 2016, reflecting project progress and the share buy-back during the quarter.

Adjusted capital expenditures for the third quarter of 2016 were €35 million, compared with €74 million one year ago.

The Group’s balance sheet remains robust and liquid. Adjusted shareholders’ equity of the parent company as of September 30, 2016 was €4,817 million, compared with €4,536 million as of December 31, 2015.

¹ Adjusted cash and cash equivalents, less bank overdraft.

6. Other

As previously disclosed, on March 31, 2016, Dong terminated, on the grounds of an alleged material breach, a contract signed on February 27, 2012 with a consortium of Technip France and DSME. This contract covered engineering, procurement, fabrication, hook-up, and commissioning assistance for a fixed wellhead and process platform and associated facilities for the Hejre field offshore Denmark. Dong announced that it will not complete the platform and will seek to avoid taking delivery and ownership of the platform. This dispute is currently progressing through a series of arbitration proceedings managed by the competent arbitral tribunal pursuant to which Dong and the consortium members will present their respective claims and arguments. The consortium members reiterate that they do not agree with Dong's actions or grounds.

III. FULL YEAR 2016 OBJECTIVES UPGRADED

• Subsea upgraded: Adjusted revenue above €5.0 billion (previously between €4.7 and €5.0 billion), adjusted Operating Income From Recurring Activities¹ around €700 million (previously around €680 million)
• Onshore/Offshore unchanged: adjusted revenue between €5.7 and €6.0 billion, adjusted Operating Income From Recurring Activities¹ around €280 million

¹ Adjusted operating income from recurring activities after income/(loss) of equity affiliates.

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The information package on Third Quarter 2016 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, 2016, Chairman and CEO Thierry Pilenko, along with Group CFO Julian Waldron, will comment on Technip’s results and answer questions from the financial community during a conference call in English starting at 9:30 a.m. Paris time.

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 44
UK:			+44 (0) 203 367 9453
USA:			+1 855 402 7761

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 three months on Technip’s website and at the following telephone numbers:

			Telephone Numbers			Confirmation Code
France / Continental Europe:			+33 (0) 1 72 00 15 00			303880#
UK:			+44 (0) 203 367 9460			303880#
USA:			+1 877 642 3018			303880#

Cautionary note regarding forward-looking statements

This press release 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 press release 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.

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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, close to 31,000 people are constantly offering the best solutions and most innovative technologies to meet the world’s energy challenges.

Present in 45 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 Euronext Paris exchange, and its ADR is traded in the US on the OTCQX marketplace as an American Depositary Receipt (OTCQX: TKPPY).

ANNEX I (a) 1 ADJUSTED CONSOLIDATED STATEMENT OF INCOME
		Third Quarter Not audited						9 Months Not audited
€ million (except Diluted Earnings per Share and Diluted Number of Shares)		2015		2016		Change		2015		2016		Change
Revenue		3,108.9		2,919.4		(6.1)%		9,090.6		8,494.4		(6.6)%
Gross Margin		456.8		424.6		(7.0)%		1,059.4		1,227.9		15.9%
Research & Development Expenses		(19.4)		(19.7)		1.5%		(61.0)		(60.8)		(0.3)%
SG&A and Other		(150.9)		(125.6)		(16.8)%		(459.8)		(397.7)		(13.5)%
Share of Income/(Loss) of Equity Affiliates		5.5		5.3		(3.6)%		22.2		11.5		(48.2)%
OIFRA after Income/(Loss) of Equity Affiliates		292.0		284.6		(2.5)%		560.8		780.9		39.2%
Non-Current Operating Result		(14.0)		(21.6)		54.3%		(417.8)		(125.9)		nm
Operating Income		278.0		263.0		(5.4)%		143.0		655.0		nm
Financial Result		(39.2)		4.1		nm		(106.5)		(63.2)		(40.7)%
Income/(Loss) before Tax		238.8		267.1		11.9%		36.5		591.8		nm
Income Tax Expense		(70.3)		(83.4)		18.6%		(84.2)		(170.7)		nm
Non-Controlling Interests		(4.6)		0.6		nm		(9.2)		0.9		nm
Net Income/(Loss) of the Parent Company		163.9		184.3		12.4%		(56.9)		422.0		nm
Diluted Number of Shares		125,439,384		126,896,391		1.2%		114,325,725		125,301,723		9.6%
Diluted Earnings per Share (€)		1.35		1.46		8.0%		(0.50)		3.44		nm

¹ Note that statements disclosed in annexes I(a) and I(c) do not report underlying results. Please refer to annex V for the underlying net income reconciliation.

IFRS CONSOLIDATED REVENUE AND NET INCOME
		Third Quarter Not audited						9 Months Not audited
€ million		2015		2016		Change		2015		2016		Change
Revenue		2,608.6		2,126.3		(18.5)%		7,945.0		6,413.7		(19.3)%
Net Income/(Loss) of the Parent Company		163.9		184.3		12.4%		(56.9)		422.0		nm

ANNEX I (b) FOREIGN CURRENCY CONVERSION RATES
		Closing Rate as of				Average Rate of
		Dec. 31, 2015		Sep. 30, 2016		3Q 2015		3Q 2016		9M 2015		9M 2016
USD for 1 EUR		1.09		1.12		1.11		1.12		1.11		1.12
GBP for 1 EUR		0.73		0.86		0.72		0.85		0.73		0.80
BRL for 1 EUR		4.31		3.62		3.94		3.62		3.52		3.96
NOK for 1 EUR		9.60		8.99		9.14		9.29		8.81		9.38

ANNEX I (c) 1 ADJUSTED ADDITIONAL INFORMATION BY BUSINESS SEGMENT
		Third Quarter Not audited						9 Months Not audited
€ million		2015		2016		Change		2015		2016		Change
SUBSEA
Revenue		1,547.0		1,397.2		(9.7)%		4,388.4		4,148.8		(5.5)%
Gross Margin		301.0		288.2		(4.3)%		841.3		797.4		(5.2)%
OIFRA after Income/(Loss) of Equity Affiliates		232.0		229.1		(1.3)%		647.5		610.6		(5.7)%
Operating Margin		15.0%		16.4%		140bp		14.8%		14.7%		(4)bp
Depreciation and Amortization		(70.4)		(60.4)		(14.2)%		(194.1)		(175.8)		(9.4)%
EBITDA		302.4		289.5		(4.3)%		841.6		786.4		(6.6)%
EBITDA Margin		19.5%		20.7%		117bp		19.2%		19.0%		(22)bp
ONSHORE/OFFSHORE
Revenue		1,561.9		1,522.2		(2.5)%		4,702.2		4,345.6		(7.6)%
Gross Margin		155.8		136.4		(12.5)%		218.1		430.5		nm
OIFRA after Income/(Loss) of Equity Affiliates		75.5		70.3		(6.9)%		(32.2)		213.5		nm
Operating Margin		4.8%		4.6%		(22)bp		(0.7)%		4.9%		nm
Depreciation and Amortization		(9.4)		(7.7)		(18.1)%		(29.2)		(25.1)		(14.0)%
CORPORATE
OIFRA after Income/(Loss) of Equity Affiliates		(15.5)		(14.8)		(4.5)%		(54.5)		(43.2)		(20.7)%
Depreciation and Amortization		-		-		-		-		-		-

¹ Note that statements disclosed in annexes I(a) and I(c) do not report underlying results. Please refer to annex V for the underlying net income reconciliation.

ANNEX I (d) ADJUSTED REVENUE BY GEOGRAPHICAL AREA
		Third Quarter Not audited						9 Months Not audited
€ million		2015		2016		Change		2015		2016		Change
Europe, Russia, Central Asia		1,202.9		1,432.0		19.0%		3,385.6		3,810.8		12.6%
Africa		428.2		446.9		4.4%		1,371.9		1,341.9		(2.2)%
Middle East		193.0		133.1		(31.0)%		698.2		513.4		(26.5)%
Asia Pacific		581.6		315.9		(45.7)%		1,540.5		1,044.0		(32.2)%
Americas		703.2		591.5		(15.9)%		2,094.4		1,784.3		(14.8)%
TOTAL		3,108.9		2,919.4		(6.1)%		9,090.6		8,494.4		(6.6)%

ANNEX II ADJUSTED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
		Dec. 31, 2015 Audited		Sep. 30, 2016 Not audited
€ million
Fixed Assets		6,507.9		6,277.4
Deferred Tax Assets		481.8		471.9
Non-Current Assets		6,989.7		6,749.3
Construction Contracts – Amounts in Assets		652.0		885.7
Inventories, Trade Receivables and Other		3,366.5		3,651.8
Cash & Cash Equivalents		4,501.4		4,146.6
Current Assets		8,519.9		8,684.1
Assets Classified as Held for Sale		26.4		0.6
Total Assets		15,536.0		15,434.0
Shareholders’ Equity (Parent Company)		4,536.4		4,817.0
Non-Controlling Interests		8.5		19.5
Shareholders’ Equity		4,544.9		4,836.5
Non-Current Financial Debts		1,626.0		1,560.8
Non-Current Provisions		243.0		210.7
Deferred Tax Liabilities and Other Non-Current Liabilities		215.0		195.0
Non-Current Liabilities		2,084.0		1,966.5
Current Financial Debts		937.1		761.9
Current Provisions		435.7		580.4
Construction Contracts – Amounts in Liabilities		2,308.2		1,721.7
Trade Payables & Other		5,226.1		5,567.0
Current Liabilities		8,907.1		8,631.0
Total Shareholders’ Equity & Liabilities		15,536.0		15,434.0
Net Cash Position		1,938.3		1,823.9

Adjusted Statement of Changes in Shareholders’ Equity (Parent Company)
Not audited (€ million):
Shareholders’ Equity as of December 31, 2015		4,536.4
Net Income		422.0
Other Comprehensive Income		76.0
Capital Increase		136.6
Treasury Shares		(133.0)
Dividends Paid		(236.6)
Other		15.6
Shareholders’ Equity as of September 30, 2016		4,817.0

ANNEX III (a) ADJUSTED CONSOLIDATED STATEMENT OF CASH FLOWS
		9 Months Not audited
€ million		2015				2016
Net Income/(Loss) of the Parent Company		(56.9)				422.0
Depreciation & Amortization of Fixed Assets		266.1				200.9
Stock Options and Performance Share Charges		19.9				13.5
Non-Current Provisions (including Employee Benefits)		145.3				(3.9)
Deferred Income Tax		(72.8)				(59.8)
Net (Gains)/Losses on Disposal of Assets and Investments		(28.3)				15.5
Non-Controlling Interests and Other		13.4				18.1
Cash Generated from/(used in) Operations		286.7				606.3
Change in Working Capital Requirements		123.0				(281.7)
Net Cash Generated from/(used in) Operating Activities				409.7				324.6
Capital Expenditures		(218.2)				(97.1)
Proceeds from Non-Current Asset Disposals		5.2				(71.3)
Acquisitions of Financial Assets		(2.3)				0.0
Acquisition Costs of Consolidated Companies, Net of Cash Acquired		(31.7)				0.0
Net Cash Generated from/(used in) Investing Activities				(247.0)				(168.4)
Net Increase/(Decrease) in Borrowings		(102.7)				(287.9)
Capital Increase		21.3				0.7
Dividends Paid		(88.9)				(100.8)
Share Buy-Back and Other		(5.8)				(135.7)
Net Cash Generated from/(used in) Financing Activities				(176.1)				(523.7)
Net Effects of Foreign Exchange Rate Changes				78.2				12.8
Net Increase/(Decrease) in Cash and Cash Equivalents				64.8				(354.7)
Bank Overdrafts at Period Beginning		(0.9)				(0.1)
Cash and Cash Equivalents at Period Beginning		3,738.3				4,501.4
Bank Overdrafts at Period End		0.0				0.0
Cash and Cash Equivalents at Period End		3,802.2				4,146.6
				64.8				(354.7)

ANNEX III (b) ADJUSTED CASH & FINANCIAL DEBTS
€ million		Dec. 31, 2015 Audited		Sep. 30, 2016 Not audited
Cash Equivalents		2,555.7		2,430.9
Cash		1,945.7		1,715.7
Cash & Cash Equivalents (A)		4,501.4		4,146.6
Current Financial Debts		937.1		761.9
Non-Current Financial Debts		1,626.0		1,560.8
Gross Debt (B)		2,563.1		2,322.7
Net Cash Position (A – B)		1,938.3		1,823.9

ANNEX IV
CONTRACT AWARDS
Not audited

The main contracts we announced during third quarter 2016 were the following:

Subsea Segment:

• A frame agreement to provide Inspection, Repair and Maintenance (IRM) services for 2016 with possible extension to include 2017 and 2018 on the client’s North Sea subsea infrastructure. The frame agreement covers provision of equipment, including diving equipment, underwater intervention and engineering services, Onshore management and engineering support, provision of ancillary personnel and equipment to support execution of the work, diver inspection, ROV inspection, maintenance, repair, construction and decommissioning. Repsol Sinopec Resources UK Limited, UK,
• A large subsea contract for the development of the Greater Enfield Project, covering project management, design, engineering, procurement, installation and pre-commissioning (EPIC) of carbon steel production flowline, carbon steel water injection flowline, flexible risers and flowlines, umbilicals, subsea structures and valves and multi-phase pump system. The flexible pipes will be manufactured in Asiaflex, located in Malaysia, the umbilicals will be supplied by Technip Umbilicals’ facility located in Newcastle, UK and the offshore installation at a water depth of between 340 and 850 meters will use several vessels from Technip’s fleet. Woodside, North West Shelf, Australia.

Onshore/Offshore Segment:

• A Master Services Agreement (MSA) for a 12 mtpa Liquefied Natural Gas (LNG) export terminal. The MSA will be utilized to execute engineering services necessary to develop the project including the Front End Engineering Design (FEED) and supporting the Federal Energy Regulatory Commission (FERC) process. SCT&E LNG Inc, Monkey Island, Louisiana, USA,
• A significant service contract awarded to RusTechnip for the existing GazpromNeft Refinery covering the engineering, procurement and construction management services (EPsCm) for the construction of a new Crude Distillation Unit - Vacuum Distillation Unit complex. PJSC GAZPROM NEFT, Omsk, Russia,
• An exclusive cooperation agreement to provide EPC services for its modular pyrolysis plants. The plants will be based on BTL's Fast Pyrolysis Oil (FPO) technology which converts biomass to oil through a rapid pyrolysis process. The agreement combines Technip's global strength in technology, engineering, procurement and construction with BTL's experience in the design and commercial operation of one of the world's first FPO production facilities. BTG BioLiquids B.V. (BTL), Netherlands,
• A large contract, covering the EPC for the design and construction of Jebel Ali new processing units and ancillary units. The main package of the project will add a new Condensate processing train to the existing facility, expanding its daily capacity to 210,000 barrels, up from its existing current 140,000 barrels per day. ENOC, Dubai, United Arab Emirates.

Since September 30, 2016, Technip has also announced the award of the following contracts, which were included in the backlog as of September 30, 2016:

Subsea Segment:

• A contract for the Samarang Redevelopment Project Phase 2 EOR, where Technip will manage the engineering, supply, construction, installation and commissioning (EPCIC) of flexible pipelines, with diameters ranging from 4” to 6”, as well as EPCIC of associated platform I-tubes. Petronas Carigali Sdn Bhd, Malaysia.

Onshore/Offshore Segment:

• A contract to provide engineering and procurement of three proprietary SMK™ grassroots furnaces. The furnaces will be part of the existing ethylene plant at the site. This project is another step in the client’s ongoing cracking furnaces replacement program. This furnace type is particularly suitable for cracking high-capacity, low-cost ethane and propane gas feedstock. Kazanorgsintez, Kazan, Republic of Tatarstan, Russia.

Since September 30, 2016, Technip has also announced the award of the following contracts, which were not included in the backlog as of September 30, 2016:

Subsea Segment:

• An important contract for the Dvalin field development (previously named Zidane) covering a tieback from a new 4-slot template to the Heidrun platform through a 15km long Pipe-in-Pipe production line. The contract includes engineering, procurement and installation of the pipelines, spools, riser bases and PLEMs (pipeline end modules) as well as rock installation and commissioning scope. Also included in the contract is the installation of a control umbilical between Heidrun and the Dvalin template. DEA Norge AS, Norway.

€ million		Third Quarter 2016		9 Months 2016
Net Income of the Parent Company		184.3		422.0
One-off charges in OIFRA		0.0		0.0
Charges from Non-Current Activities		9.0		98.5
Other		12.6		27.4
Taxes & Financial Result		(2.7)		(24.0)
Underlying Net Income		203.2		523.9

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