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Feb. 25, 2021, 2:19 a.m. EST

Technip revenue and Ebitda fall due to pandemic

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By Joshua Kirby

TechnipFMC PLC said late Wednesday that revenue and earnings fell in the fourth quarter amid operational impacts relating to the coronavirus pandemic.

The oil-and-gas services company said revenue for the quarter was $3.43 billion, down 8.1% from $3.73 billion for the same period of 2019.

The Franco-American company posted a net loss of $39.3 million for the quarter, narrower than previously, with adjusted earnings before interest, taxes, depreciation and amortization of $300.8 million, down 26% from $404.4 million. Adjusted results include expenses and impacts relating to the pandemic, Technip said.

For the full year, Technip's revenue fell 2.7% to $13.05 billion and its net loss stood at $3.29 billion. Adjusted Ebitda was down 29% at $1.08 billion.

For 2021, Chief Executive Doug Pferdehirt said growth in international activity should drive revenue higher in the surface-technologies segment.

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