Strong Revenue and EBITDA Growth
Revenue increased by 15% year-over-year to EUR 3.6 billion, and EBITDA rose by 13% to EUR 319 million, showcasing robust financial performance driven by high activity on LNG projects and new project ramp-ups.
Significant Free Cash Flow
Free cash flow conversion from EBITDA was approximately 100%, leading to a 35% growth in free cash flow year-over-year, reflecting strong operational execution and financial health.
Major Project Award for Low-Carbon Ammonia Facility
Received a major project delivery award for the world's largest low-carbon ammonia facility for CF Industries in the U.S., contributing to a backlog of EUR 18 billion.
Successful Execution in Technology, Products & Services (TPS)
TPS segment saw a 240 basis points increase in EBITDA margin year-over-year to 15.1%, driven by the completion and delivery of ethylene furnaces and other high-margin activities.
Geographical and Market Diversification
Approximately 70% of orders over the last 18 months originated from regions beyond the Middle East, with significant growth in decarbonization-related orders, now representing nearly 40% of total order intake.