Mixed Q3 Results for Service Companies

France-based Technip reported a year-on-year 16.2% increase in revenues in the third quarter of the year, and weaker EBITDA results. The EBITDA margin decreased from 11.6% in the third quarter of 2013 to 10.8% in the third quarter of 2014.

The company’s revenues for the third quarter totalled €2.8 billion.

“The third quarter showed solid delivery against our objectives, with business won across our segments and geographies,” Thierry Pilenko, Chairman and CEO, commented in a note released on Thursday.

On the other hand, Italy-based Saipem registered a slowdown.  

“We continue to implement our turnaround plan for Saipem, though market conditions have deteriorated impacting the pace at which legacy contracts are resolved and the execution of new contracts,” Umberto Vergine, Saipem CEO, said in the press release. 

The company’s revenues for the third quarter totalled €3.5 billion, with €1,856 million coming from new contracts.