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    Victoria McCulloch • RBC Capital Markets

    Victoria McCulloch's questions to TechnipFMC PLC (FTI) leadership

    Victoria McCulloch's questions to TechnipFMC PLC (FTI) leadership • Q2 2025

    Question

    Victoria McCulloch of RBC Capital Markets questioned how comments on cost deflation from an operator align with project upsizing and asked about the market potential for the new hybrid flexible pipe outside of Brazil.

    Answer

    CEO & Chair Douglas Pferdehirt clarified that with over 80% of its business being direct-awarded, TechnipFMC focuses on improving overall project returns by shortening cycle times, not on unit pricing. He explained that the new hybrid flexible pipe could be used in all existing flexible pipe markets and potentially expand the market by displacing rigid pipe, thanks to its lighter weight and lower installation costs.

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    Victoria McCulloch's questions to TechnipFMC PLC (FTI) leadership • Q1 2025

    Question

    Victoria McCulloch asked about the company's disciplined approach, likely referring to project bidding and selection, and what conclusions could be drawn from it.

    Answer

    CEO Douglas Pferdehirt affirmed the company maintains a very disciplined approach to winning work. He stated that clients respect this discipline because it results in projects being delivered on time and on budget, a level of execution certainty he claims they do not receive from the rest of the industry. This focus on disciplined, successful project delivery will remain a core part of their strategy.

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    Victoria McCulloch's questions to TechnipFMC PLC (FTI) leadership • Q4 2024

    Question

    Victoria McCulloch from RBC Capital Markets inquired about the impact of internal process industrialization on current financial results and questioned the company's strategy and bidding appetite in Brazil, given that not all projects align with its integrated model.

    Answer

    CEO Douglas Pferdehirt explained that the benefits of their 'Simplification, Standardization, and Industrialization' (SSI) initiative are ongoing and stem from applying lean principles across the entire organization, not just manufacturing. Regarding Brazil, he affirmed a strong commitment, highlighting local R&D and technology development. While stand-alone installation contracts are not a priority, the company continues to execute various projects and strategically bids on tenders, accounting for all commercial risks.

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    Victoria McCulloch's questions to Technip Energies NV (THNPY) leadership

    Victoria McCulloch's questions to Technip Energies NV (THNPY) leadership • Q1 2025

    Question

    Victoria McCulloch of RBC Capital Markets asked for a reminder of the company's exposure to projects within the Hynet CCS cluster, specifically Viridor and Uniper, and their expected final investment decision (FID) timelines.

    Answer

    CEO Arnaud Pieton confirmed active engagement on both the Uniper carbon capture project and H2Teesside with BP. He stated that an FID could occur this year, which would be considered an upside, or in 2026. He emphasized that winning the 'affordability battle' is key and that a Uniper FID would demonstrate that Net Zero Teesside is not a one-off project.

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    Victoria McCulloch's questions to Technip Energies NV (THNPY) leadership • Q1 2024

    Question

    Victoria McCulloch questioned the margin implications of Technip Energies' CCS and decarbonization capabilities and asked if strategic development costs in the TPS segment would continue to be a headwind for margins.

    Answer

    Executive Arnaud Pieton highlighted that CCS differentiation stems from its Canopy technology, integration capabilities, and financial strength. Executive Bruno Vibert added that while TPS gross margin improved, overall segment EBIT was impacted by investments in R&D, strategic initiatives, and tendering. Arnaud Pieton reaffirmed the company is on track to achieve a double-digit EBIT margin for TPS in 2025.

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