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MarketScreener Homepage  >  Equities  >  Nyse  >  TechnipFMC    FTI   GB00BDSFG982

TECHNIPFMC

(FTI)
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TechnipFMC : Awarded Significant Integrated EPCI Contract for Woodside's Pyxis Field in Australia

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10/18/2019 | 01:01am EST

TechnipFMC (NYSE: FTI) (PARIS: FTI) has been awarded a significant(1) integrated Engineering, Procurement, Construction and Installation (EPCI) contract by Woodside for the development of the Pyxis and Xena fields, located offshore North West Australia.

TechnipFMC will design, manufacture, deliver and install subsea equipment including subsea production system, flexible flowlines and umbilicals.

This contract is the first call-off under the recently executed five-year EPCI Frame Agreement between TechnipFMC and Woodside. The Frame Agreement allows collaborative development of projects for Woodside through early engagement and utilization of TechnipFMC integrated execution solutions.

Arnaud Piéton, President Subsea at TechnipFMC, commented: “We are very pleased to have signed a five-year Frame Agreement with Woodside that leads to this first contract under this agreement. This iEPCITM contract combines our integrated subsea solution with our Subsea 2.0 products and illustrates TechnipFMC’s complete offering. We value our long-term, collaborative relationship with Woodside and are committed to bring the best in the execution of this project.”

(1) For TechnipFMC, a “significant” contract is between $75 million and $250 million

Note: this inbound order was included in the Company’s third quarter financial results.

Important Information for Investors and Securityholders

Forward-Looking Statement

This release contains "forward-looking statements" as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. The words “believe”, “estimated” and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. For information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.

About TechnipFMC

TechnipFMC is a global leader in subsea, onshore/offshore, and surface projects. With our proprietary technologies and production systems, integrated expertise, and comprehensive solutions, we are transforming our clients’ project economics.

We are uniquely positioned to deliver greater efficiency across project lifecycles from concept to project delivery and beyond. Through innovative technologies and improved efficiencies, our offering unlocks new possibilities for our clients in developing their oil and gas resources.

Each of our more than 37,000 employees is driven by a steady commitment to clients and a culture of purposeful innovation, challenging industry conventions, and rethinking how the best results are achieved.

TechnipFMC utilizes its website www.TechnipFMC.com as a channel of distribution of material company information. To learn more about us and how we are enhancing the performance of the world’s energy industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC. 


© Business Wire 2019
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Financials (USD)
Sales 2019 13 531 M
EBIT 2019 1 127 M
Net income 2019 465 M
Finance 2019 484 M
Yield 2019 2,68%
P/E ratio 2019 21,2x
P/E ratio 2020 13,4x
EV / Sales2019 0,61x
EV / Sales2020 0,53x
Capitalization 8 785 M
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Mean consensus BUY
Number of Analysts 34
Average target price 29,84  $
Last Close Price 19,65  $
Spread / Highest target 119%
Spread / Average Target 51,9%
Spread / Lowest Target -14,5%
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Douglas J. Pferdehirt Chairman & Chief Executive Officer
Maryann T. Mannen Chief Financial Officer & Executive VP
Justin Rounce Chief Technology Officer & Executive VP
Arnaud Caudoux Independent Director
Pascal Colombani Lead Independent Director
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