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

Technip revenue and Ebitda fall due to pandemic

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.

Link to MarketWatch's Slice.