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2013 EDITION
SHAREHOLDER’S GUIDE
CONTENTS
03 Chairman and CEO’s message
04 Worldwide leading player
06 Governance
08 OUR VALUES AT THE HEART OF OUR WORK
10 Our philosophy
12 The sustainable development challenge
16 LEADING POSITIONS IN OUR THREE BUSINESS LINES
Subsea
Offshore
Onshore
24 2012, a year in line with our targets
26 2013, a year of growth
28
30
34
36
38
40
42
BEING A TECHNIP SHAREHOLDER
Technip’s share
Guiding you through taxation
Becoming a shareholder
Staying in touch with our shareholders
Our privileged moments
The 2012 Annual Shareholders’ Meeting: highlight
44 Glossary
46 2013 calendar
DEAR SHAREHOLDER,
Technip enjoyed a sustained year of growth in 2012, rich in developments
and projects, which are outlined throughout this guide. Its primary purpose,
is to present Technip through its activities, performances, sustainable development
initiatives, as well as its shareholder policy, which we plan to develop in 2013.
Its aim is to build upon and maintain the close relationship we share.
In 2012 we delivered and won numerous projects, demonstrating our desire to offer
to our clients a long-term partnership based on differentiating technological
solutions and dedicated teams.
To support our growth, we have invested in talents worldwide – reaching 36,500
employees by the end of 2012 – and in new assets, acquisitions and alliances.
Two central operations were carried out this year: the acquisition of Stone &
Webster Process Technologies, which aims to supply our clients with the best range
of technologies for downstream applications; and the signing of a strategic alliance
with Heerema Marine
Contractors, to respond
to our clients’ needs in
terms of ultra-deepwater
subsea developments.
Technip stayed on course in 2012,
achieving financial results in line
with our targets, including revenue
up 20% to €8.2 billion
Despite a difficult
economic environment,
Technip stayed on course
in 2012, achieving financial results in line with our targets, including revenue
up 20% to €8.2 billion, and net income of €540 million.
So far, 2013 looks promising for Technip: our backlog is both significant
and profitable. We believe our markets, whilst competitive and never immune
to general economic conditions, remain robust and growing.
Thanks to the expertise of our teams, our cutting-edge technologies, our assets
and our strategic market positions, we remain confident in our ability to successfully
complete our clients’ projects and record another year of growth and profitability
for our shareholders.
THIERRY PILENKO
Chairman and CEO
TECHNIP SHAREHOLDER’S GUIDE
We hope this guide is in line with your expectations, and I would like to seize the
opportunity, on the behalf of Technip, to thank you for your continued loyalty.
02/03
WORLDWIDE LEADING PLAYER
Technip is a world leader
in project management,
engineering and construction
for the energy industry.
Present in 48 countries,
Technip has state-of-the-art
industrial assets on all
continents and operates
a fleet of specialized vessels
for meeting its clients
requirement from deep water
to shore.
Calgary
Boston
St. John’s
Weymouth
Claremont
Monterrey
Mexico
City
Houston
Carlyss
Mobile
Ciudad
del Carmen
Port-of-Spain
Caracas
(Trinité-et-Tobago)
Bogota
Industrial assets on all continents
36,500 people,
109 nationalities in 48 countries*
A fleet of 32 vessels, of which 4 are under construction*
2012 revenue: €8.2 billion
* As of March, 2013.
Vitória
Açu
(en constructio
Macaé
Rio de Janeiro
Angra Porto
A UNIQUE FLEET
To undertake our offshore
operations, we operate
a specialized fleet comprised
of 32 vessels (of which 4 are
under construction)* which
is unique in the industry.
Orkanger
Pori
Stavanger Oslo
St. Petersbourg
Evanton
Aberdeen
Milton Keynes
The Hague
Newcastle
Warsaw
London
Düsseldorf
Le Trait
Lyon
Paris
Rome
Marseille
Baku
Lisbon
Barcelona
Athens
Seoul
Ashgabat
Shanghai
Baghdad
Doha
Cairo
Al Khobar
4 Rigid Reel-Lay
and J-Lay
New Delhi
Dubaï
Mumbai
Abu Dhabi
Lagos
Port Harcourt
Accra
Dande
Luanda
Bangkok
Ho Chi Minh City
Chennai Rayong
Miri
Kuala Lumpur
Tanjung Langsat
Singapore
Balikpapan
Batam
Jakarta
Lobito
4 Rigid S-Lay
and Heavy Lift
11 Flexible-Lay
and Construction
13 Diving
and multi support
on)
Perth
Regional headquarters / Operating centers
Spoolbases
Logistic bases
Construction yard
Manufacturing plants
(flexible pipelines and/or umbilicals)
TECHNIP SHAREHOLDER’S GUIDE
04/05
From left to right:
Marwan Lahoud(2), Marie-Ange Debon, Pascal Colombani(2),
Leticia Costa(2), John O’Leary(2), Thierry Pilenko,
Olivier Appert, C. Maury Devine(2), Gérard Hauser(2),
Joseph Rinaldi(2) and Alexandra Bech Gjørv(2)
GOVERNANCE
The Board of Directors(1)
The Board of Directors, which determines the strategic business
directions of Technip and supervises their implementation, met
nine times in 2012. The Board is assisted in its duties by the
recommendations made by four committees.
As of February 28, 2012, it comprised of four women and seven
nationalities, reflecting the diversity of the Group thanks to the
appointments made in 2012, and the appointment of two
additional Directors to be proposed at our next General
Shareholders’ Meeting on April, 25 2013:
Manisha Girotra Chief Executive Officer of Moelis & Company
in India,
Pierre-Jean Sivignon Chief Financial Officer
of the Carrefour group.
After their ratification, our Board of Directors will include five
women and seven men, of seven different nationalities, far beyond
the requirements of the AFEP-MEDEF code, which calls for women
to make up at least 20% of the board members of French-listed
companies in April 2013, and 40% by 2016.
Technip continually improves its corporate governance practices.
As part of this ongoing improvement, the Board of Directors
has drawn up a charter defining the rights and duties of Board
members, as well as a set of internal rules for the Board itself
and for its committees.
(1) As of February 28, 2013.
(2) Independent Director.
Specialized committees of the Board of Directors(1)
THE AUDIT COMMITTEE
This Committee, chaired by Pascal Colombani, assists
the Board by ensuring the quality of internal controls, as well
as the integrity of the information disclosed to shareholders
and financial markets. It met six times in 2012.
THE STRATEGIC COMMITTEE
This Committee, chaired by Pascal Colombani, assesses
Technip’s overall strategy (strategic orientations, plans and
budgets, investments, acquisition and disposal of assets) as
proposed by the Chairman and CEO. It met twice in 2012.
THE NOMINATIONS AND REMUNERATIONS COMMITTEE
This Committee, chaired by Gérard Hauser, makes
recommendations to the Board on the appointment
of Directors, examines the compensation policy
of the Executive Committee members and top management
within the Group. It met four times in 2012.
THE ETHICS AND GOVERNANCE COMMITTEE
This Committee, chaired by Joseph Rinaldi, promotes best
practices regarding governance and ethics within Technip.
It met twice in 2012.
The Executive Committee (1)
GOOD TO KNOW
The Executive Committee assists the Chairman and CEO in his management
responsibilities.
The members are:
• Alexandra Bech Gjørv
was appointed as a Director
of Technip on October 23, 2012.
• The Board of Directors
appointed Gérard Hauser
as Senior Independent Director,
for a two-year term on
October 23, 2012..
TECHNIP SHAREHOLDER’S GUIDE
THIERRY PILENKO
Chairman and CEO
JOHN HARRISON
General Counsel
PHILIPPE BARRIL
Executive Vice President and Chief
Operating Officer Onshore/Offshore
THIERRY PARMENTIER
Human Resources Director
FRÉDÉRIC DELORMEL
Executive Vice President and
Chief Operating Officer Subsea
NELLO UCCELLETTI
Senior Vice President Onshore
JULIAN WALDRON
Chief Financial Officer
06/07
Our philosophy
The sustainable development challenge
TECHNIP SHAREHOLDER’S GUIDE
08/09
OUR PHILOSOPHY
A vision, a mission, a brand
and values to take Technip further
Our vision
Our mission
Meet the world energy challenge through
our projects.
Our mission is to deliver safe and successful energy
projects across the world for the benefit of our
If energy were easy, there would be no need for a company like
Technip. Today and tomorrow, we work with our clients,
wherever they are, to bring energy to the world.
We will continue to contribute to their success, through our
constant customer focus, and our integrated and sustainable
project approach. As the industry reference, we will
demonstrate know-how, commitment, and inspiration to help
all of our partners push further to achieve their goals.
This is our vision and above all, it is our passion.
stakeholders. We maintain this focus whether faced with
the biggest challenges or the smallest details.
Our brand
Our brand is our way to communicate who we are, what we
do and where we want to go. Our brand represents our company,
as well as who we are.
To succeed, we and our brand must be One.
At all times, in all our activities and through all our contacts,
we represent our company and our brand.
Each and every Technip employee is a brand ambassador.
Our values
DOING THE RIGHT THING
Our conduct speaks louder than words.
That is why we strive to always do the right thing wherever
business takes us. That means not only acting transparently
and keeping commitments, but also ensuring the safety
of people and sustainable practices within the community
and across the planet. Safety, ethics, security and respect
always take us further.
TRUSTING THE TEAM
GOOD TO KNOW
Our values are operational.
We are inspired by them and they are
at the heart of our industry.
They are experienced by our clients through
our brand.
They have ensured our success to the present day
and will take us forward.
By sharing these values and living up to them
every day at Technip, we are truly one.
You already know the feeling that comes
from joining together successfully to solve
a major challenge.
Our ability to combine talents and deliver success makes us
unique. We value diversity, and have passion and true belief
in each person’s contribution. It is the trust and confidence
between team members and between teams that take us
further.
ENCOURAGING A FAIR
RETURN FOR ALL
We believe in profitable projects based
on sustainable relationships.
We seek to enhance our performance and share
the benefits of every achievement with our stakeholders:
clients, employees, shareholders, partners, suppliers
and local communities. Fair returns take us all further.
BUILDING THE FUTURE
At Technip, we are building the future through
today’s most ambitious energy infrastructure
projects.
We are also creating the conditions that will generate
tomorrow’s game-changing innovations by developing
our people. Entrepreneurial attitude, quality, investment
and anticipation are at the very heart of how we are taking
it further.
TECHNIP SHAREHOLDER’S GUIDE
10/11
THE SUSTAINABLE DEVELOPMENT
CHALLENGE
2012 was a pivotal year for Technip in terms of sustainable development,
with the appointment of Colette Casimir, Senior Vice President,
Head of Sustainable Development, whose objective is to produce
an inventory of the numerous initiatives already present in Regions,
but above all to establish an overall strategy for the Group.
Sustainable development allows us to carry out our activities while creating more value for our
stakeholders. Our approach in this field is based on our four core values which are Doing the right thing,
Trusting the team, Encouraging a fair return for all and Building the future.
Our sustainable development strategy concerns social, societal and environmental aspects but is also based
on closer collaboration with our stakeholders and local communities in countries where we operate,
involving greater dialogue with our clients and strengthening our relations with socially responsible
investors.
TESTIMONIALS
Technip’s ambition
is to be recognized
as one of the
best-in-class
companies
for sustainable
development
within its
business sector.
Colette Casimir
Senior Vice President,
Head of Sustainable
Development
PROMOTING
a safety culture
and preventing
health risks
PROTECTING
our employees,
our facilities and
our information
Safety is one of Technip’s
fundamental values.
Ensuring the security of our people
and crews while operating in challenging
environments and protecting them
against malicious acts is a priority
for Technip.
Our ambition of excellence in this field
and our unswerving aim to protect all our
employees are at the center of our strategy.
We are permanently evaluating our HSE*
methods to improve performances and
become the reference in our industry.
With a presence in almost 50 countries,
we make it a matter of principle
to constantly improve our health
management procedures in order
to provide our personnel with effective
medical treatment on land and sea.
From worksites to offices, via plants
and vessels, we apply a rigorous security
approach designed to ensure the security
of all working environments, reinforce
the emergency response and crisis
management procedures, protect
information and offer simple
and effective tools to all teams
in the security network.
* Health, Security, Environment.
OUR OBJECTIVES FOR 2013
HEALTH
Continue implementing
health risk assessments on all sites
and follow-up
Start a health surveillance process,
following health risk assessments
Implement the health performance
indicators described in our process
SAFETY
Maintain a 0 fatalities rate
OUR OBJECTIVES FOR 2013
Continue implementing corporate security
standards across Technip
Consolidate the dedicated maritime
security system across our fleet and
offshore assets
Implement Technip’s new joint notification
and incident management standard through
the organization of regular crisis exercises
Develop the prevention and detection of
information security issues
Reduce the total recordable case
frequency rate
Elaborate a new three-year Pulse plan
TECHNIP SHAREHOLDER’S GUIDE
12/13
PRESERVING the
environment for future
generations
SUPPORTING
local communities
The energy industry has a vital role
to play in effectively tackling global
environmental challenges.
The national content and multi-site
recruitment of our talents are a priority
for Technip and represent one of our
strategic focuses.
In this context, Technip promotes an
environmental policy that aims to reduce
emissions in order to limit the impact of its
activities while continuing to develop
efficient procedures.
We also work with our clients and support
them in their efforts to reduce greenhouse
gases, and with other environmental issues.
OUR OBJECTIVES FOR 2013
Define strategies to reduce our carbon
footprint
Reduce the environmental impact
of our activities
Create, maintain and follow up on
a register of high-level environmental
risks in all Regions
Conduct at least one audit of the “global
environmental performance management
standard” in each Region
Implement the Green Offices Program
in all of Technip’s large offices
Our Regional presence, close to our clients
enables us to meet our increasing needs
in terms of national content, in both
emerging and mature markets,
and to respond both to local needs
and sustainable development challenges.
Respecting cultures and improving
the well-being of local communities
are essential to us and that is why
we encourage solid local initiatives
via the Technip Endowment Fund,
created in 2011.
OUR OBJECTIVES FOR 2013
Continue to increase the national
content of our projects
Select local initiatives more carefully
to increase our positive impact on
communities and national economies
Promote and engage our workforce
as volunteers and active players
in sustainable development
Create a position of Local Communities
Manager to better coordinate the
strategy and actions at Group level
DEVELOPING
our talents
CONTRIBUTING
to the development
of our economic partners
Regarding Human Resources (HR), 2012
was marked by the launch of a new
three-year action plan designed to
improve the quality and impact of HR
practices while supporting out activities
worldwide.
We attach great importance to creating
added value for all our economic partners,
including our clients, by providing them
with quality services and efficient facilities
with strong national content, as well as our
subcontractors, whose selection is partly
responsible for the success of our projects.
Our HR strategy is to support the Group in
its development, particularly through
experienced teams, improvements to
people management and developing tools
to standardize practices.
Whether in terms of equipment or labor,
we always adopt an integrated approach to
working with them to ensure our relations
benefit all stakeholders.
We strive to generate economic and social
value through our activities, particularly
as a result of diversity.
Finally, Technip encourages a fair return for
its shareholders and ensures that they
share its profits.
OUR OBJECTIVES FOR 2013
OUR OBJECTIVES FOR 2013
Recruit with impact
Strengthen succession plans
Develop core populations
Promote positive diversity management
Ensure reliability, consistency
and completeness of HR data
Pursue focus on client satisfaction
and performance improvement
Monitor sustainable development
aspects of selected suppliers
and sub-contractors in their
supply chain methodologies
Meet the needs of our individual
shareholders and reinforce our
relationships
Maintain open, credible and consistent
communications with all investors
and provide Technip’s management
with relevant financial information
TECHNIP SHAREHOLDER’S GUIDE
GOOD TO KNOW
Thanks to our
achievements in
sustainable development,
our stock has been
reselected to be a part
of both the 2012-2013
European and World Dow
Jones Sustainability
Indexes, for the 11th
consecutive year.
Technip is also part
of SAM’s (Substainable
Asset Management)
list of best performing
companies in sustainable
development and ASPI
Eurozone’s index of
socially responsible
groups.
14/15
From the deepest Subsea developments to the largest and most complex
Offshore and Onshore infrastructures, our 36,500 people are constantly
offering our clients the best solutions and most innovative technologies
to meet the world’s energy challenges.
SUBSEA
ONSHORE/OFFSHORE
€4,048 million
€4,156 million
€603 million
€290 million
€6,050 million
€8,201 million
2012 Revenue
2012 Operating Income
from Recurring Activities
2012 Backlog
TECHNIP SHAREHOLDER’S GUIDE
2012 Revenue
Operating Margin
(As of the end of 2012)
15%
7%
2012 Operating Income
from Recurring Activities
2012 Backlog
SUBSEA
ONSHORE
OFFSHORE
16/17
SUBSEA: WORLDWIDE INTEGRATED LEADER
Technip’s Subsea
activities cover
the design,
manufacture and
installation of rigid
and flexible subsea
pipelines and
umbilicals within
the domain of
subsea hydrocarbon
field development.
Technip is a key integrated player in this market thanks to its
portfolio of state-of-the art subsea pipe technologies and
industrial and operational assets.
Technip is one of the few groups that can provide, on an integrated or segmented
basis and at optimized cost, the near totality of services for the development of
offshore hydrocarbon fields from design through to installation.
The recent acquisitions of Global Industries, Cybernétix, AETech and the alliance
with Heerema Marine Contractors have strengthened this leadership position
around the world.
The effectiveness of our integrated business model brought commercial success on
several small and medium-size contracts throughout the year.
Our Subsea operating margin in 2012 was in line with our objective, at 15% on
revenue, which grew ahead of plan by 36%. This reflects the progress of several
projects around the world, particularly in the North Sea, and a mix of deepwater
and shallow water projects in the Americas and Africa.
Furthermore, our investments in assets and flexible pipe technology give us a
strong position, for example, in deepwater developments in areas such as Brazil.
Major contracts in 2012
Technip is pursuing its development with Shell, winning a subsea installation
contract for the Prelude floating liquefied natural gas (FLNG) unit, the largest
floating unit in the world, anchored north-west offshore Australia, which
Technip will also be helping to build in the context of the Technip-Samsung
Heavy Industries consortium (SHI).
This contract – operated by Technip’s engineering centers in Perth, Australia and
Kuala Lumpur, Malaysia – includes project management, manufacturing, transport
and installation of a wide range of subsea equipment, as well as the reeled laying
of flowlines by our new vessel the Deep Energy.
Technip has been awarded a five-year framework contract by Petrobras for the
supply of 1,400 km of flexible pipe and other equipment.
The flexible pipes will be manufactured in Technip’s existing plant in Vitória, Brazil,
as well as at our new production plant currently under construction in Açu, North
of Rio de Janeiro, Brazil. This contract represents a big success for Technip’s
operations in Brazil, where the Group has been present for more than 35 years.
Technip has signed its largest contract in the British North Sea, worth
approximately €600 million, awarded by BP and its partners to develop
the subsea infrastructure for the Quad 204 project, located to the west
of the Shetland Isles.
This major redevelopment will allow the potential extraction of 450 million
extra barrels and will extend production until 2035. This contract demonstrates
that the North Sea still holds major opportunities for large-scale and technological
developments. It follows a series of successes for Technip in the UK
and strengthens our leadership in the region, as well as our relationship
with this major client.
GOOD TO KNOW
On September 15, 2012,
Technip flexible pipe,
manufacturing plant in
Le Trait (France) celebrated
40 years of flexible
technology. To mark the
occasion, nearly
4,000 people, mostly
employees and their families,
came to discover or rediscover
this flexible manufacturing
plant. A video produced
for the event on the history
of flexible pipe design
is available on
www.technip.com
Highlight of the year
Technip forms a strategic alliance with Heerema Marine Contractors.
In October 2012, Technip and Heerema signed an international alliance under which
the two companies have agreed to combine their skills to help their clients respond
to the strong growth in the ultra-deepwater subsea market. This five-year alliance makes
the two companies’ complementary assets (such as vessels) and skills available for
ultra-deepwater subsea projects, in all subsea markets requiring substantial tensioning
capability.
Ultra-deepwater projects are likely to see the fastest growth in the subsea market
over the coming years. The alliance is therefore enabling us to move another step closer
to our strategic targets, involving completing our portfolio of skills in Subsea through
our investment program and the acquisition of Global Industries last year.
This will mean that we cover environments from ultra-deepwater to shore.
TECHNIP SHAREHOLDER’S GUIDE
18/19
OFFSHORE: AN EXPERT IN MARKETS WITH
HIGH TECHNOLOGICAL ADDED VALUE
Our Offshore
activities include
engineering,
procurement,
construction and
installation of fixed
and floating
platforms for the
energy industry.
Technip is positioned in the design and construction of complex
installations which include floating production, storage and
offloading (FPSO) units that are among the world’s largest.
Technip has developed cutting-edge standards and technologies in order to provide
the most suitable solutions and overcome the challenges of ultra deep to shallow water
projects, under the most extreme conditions.
Technip also occupies a global leadership position in the growing market of FLNG units,
which we have reinforced our strategic relations with very important clients, as well as
on the Spars market, which the Group is supported by its shipyard in Pori, Finland.
Technip is making major investments in R&D (Research & Development), particularly to
allow the deployment of technologies in oil producing countries, and to tackle the new
challenges raised by ultra-deepwater subsea projects or those in arctic conditions.
Active in all types of offshore project, we constantly strive for excellence, offering
concepts tailored to our clients’ needs and to offer the best solutions for markets
with high growth and high technological added value. Furthermore, Technip’s multi-site
presence, through our assets and our strategic partnerships, constitutes a major
advantage for our offshore activity and allows us to be ever closer to our clients.
Major contracts in 2012
Technip was awarded a major offshore contract by INPEX CORPORATION,
worth approximately €210 million, for the Ichthys LNG project in the Browse
Basin, off the western coast of Australia.
This contract is the third won by Technip for the Ichthys LNG project:
the first was won for detailed engineering and assistance with procurement of
equipment for the FPSO’s topsides*, while the second for the supply of flexible pipes.
A team working in-house with the client will be responsible for work related
to preparation and completion of the offshore commissioning of the FPSO
and the central processing facility.
Having been awarded the FLNG contract by Shell, Technip was again chosen
for the contract concerning engineering, procurement, construction, installation
and commissioning of an FLNG unit with a maximum annual capacity
of 1.2 million tons for PETRONAS, as part of a consortium with Daewoo
Shipbuilding & Marine Engineering (DSME) Co.
The 300 meters long and 60 meters wide FLNG will be moored off the Malaysian coast.
Technip builds the future by constructing the largest Spar in the world.
Technip, in consortium with Hyundai Heavy Industries (HHI), was attributed
a letter of intent by Statoil for the development of its Aasta Hansteen field,
located off the coast of Norway, 1,300 meter-deep.
The project carried out by Technip includes the engineering, procurement, construction
and transport of the Spar shell, anchoring systems as well as the design of its steel
catenary risers. The Aasta Hansteen Spar, due to be launched at the end of 2016, will
be the first Statoil Spar, the first in Norwegian waters and the largest ever built, with
a total shell length of 195 meters.
* Topsides: surface installations allowing the drilling and/or production and/or processing
of offshore hydrocarbons.
GOOD TO KNOW
Highlight of the year
Technip returns to the North Sea.
Technip, leading a consortium with Samsung Heavy Industries (SHI), was awarded
a contract by Total E&P Norge for the Martin Linge development project located
approximately 180 km west of Bergen, Norway at a depth of 115 meters. This contract
is worth a total of US$1.25 billion, with Technip’ share being around US$780 million
(€608 million*). It includes the engineering, procurement, fabrication, transport,
hookup and commissioning of topsides for a fixed production platform.
This strategic contract is the third offshore project won by the Group in the North
Sea in 2012. It confirms Technip’s return to this market as the leader in engineering,
procurement and construction of large complex projects.
Technip holds the initial
patent for Spars with
McDermott and has
significant experience in
deepwater oil and gas
developments.
Since 1996, the Group has
delivered 14 of the 17 Spar
platforms in operation.
Two additional Spars are
under construction at our
Pori yard Finland for the
Gulf of Mexico.
* Currency conversion on April 4, 2013.
TECHNIP SHAREHOLDER’S GUIDE
20/21
ONSHORE: PROJECT MANAGEMENT
CAPABILITIES AND TECHNOLOGICAL EXPERTISE
Technip’s Onshore
activity covers
the full range of
onshore facilities
for the oil and gas
chain, petrochemicals
and other energy
industries,
as well as other
industries,
particularly
renewable energies,
and mines and
metals.
Technip holds many proprietary technologies, and is the leader in the
design and construction of LNG and gas treatment plants, as well as
ethylene, hydrogen and syngas units.
We are one of the leading players worldwide in refining and petrochemical units.
Technip is involved in major onshore oil & gas projects with high level
of technological input. Technip distinguishes itself from its competitors
with its differentiating assets: people, technologies, project management expertise
and construction supervision capability.
Unlike our Subsea activity, which primarily makes capital investments in
cutting-edge assets such as vessels and plants, in our Onshore activity
we must invest in skills.
The acquisition of Stone & Webster process technologies enables us to pursue
the development of technologies in the fields of refining and petrochemicals,
in particular, and to offer a unique range of products and services, to create ever
more value for our clients and shareholders.
The Group is also present in non-energy activities such as mining and metals,
life sciences, buildings and infrastructures. Technip is developing its renewable
energy strategy and capability in the following areas: biofuels, solar photovoltaic,
marine energy, carbon capture and storage and geothermal energy.
Major contracts in 2012
The joint venture between Technip, Odebrecht and ICA Fluor was awarded a major EPC
contract by Braskem Idesa, worth over US$2.7 billion (with a 40% share for Technip),
for the Ethylene XXI project, a petrochemical complex to be built in the Mexican state
of Veracruz.
This petrochemicals complex, due to be launched in 2015, will house numerous facilities
including an ethane-based ethylene cracker producing one million tons per year.
The Ethylene XXI cracker will be the most modern and efficient in operation in America
and will use Technip’s cutting-edge proprietary technology.
Technip was awarded a key contract by Lukoil Neftochim Burgas worth around
€900 million, with a share for Technip of €600 million.
It covers the engineering, procurement and construction of Phase 1 of a heavy residue
hydrocracking complex, to be constructed at the Burgas refinery in Bulgaria.
This project confirms Technip’s leadership in the field of refining, after projects
including Dung Quat in Vietnam, Jubail in Saudi Arabia and the Algiers refinery in Algeria.
Technip was awarded a contract by The Dow Chemical Company, the largest producer
of ethylene-based chemicals in the world, for the front-end engineering and design
(FEED) and engineering and procurement services for cracking furnaces at a new large
ethylene production plant located at Dow Texas Operations in Freeport, United States.
This contract will be fulfilled by Technip’s engineering center in Claremont, California,
with FEED activities due to be completed by mid-2013. This plant is The Dow Chemical
Company’s fourth new ethylene plant in a row for which Technip has supplied FEED services
in the last 10 years globally. This project will draw on cutting-edge proprietary technology
owned by Technip, part of its technology portfolio which was recently strengthened
by the acquisition of Stone & Webster process technologies, along with its associated
oil and gas engineering business lines. Technip is currently the largest licensor and contractor
for ethylene in the world.
Highlight of the year
Acquisition of Stone & Webster Process Technologies.
On August 31, 2012, we finalized the acquisition of Stone & Webster Process Technologies,
to expand the upstream range of skills, technologies and services offered by Technip
in relation to Onshore projects. This move will enable us to benefit from developments
in the petrochemicals industry, over the coming years, in the United States, through shale
gas, and above all in Asia.
Since the acquisition we have assembled nearly 1,200 highly qualified engineers, researchers
and project teams from the two companies, specializing in downstream technologies,
to form Technip Stone & Webster process technology, a world-class downstream
technology leader. This new entity specializes in cutting-edge technologies in refining,
hydrogen, ethylene, petrochemicals and GTL (gas-to-liquid), offering licenses,
high value-added engineering services and proprietary equipment. This move reinforces
Technip’s positioning as a technology supplier to downstream industry and continues
the diversification of our Onshore activity by generating additional revenues from
cutting-edge technologies and hi-tech proprietary solutions.
TECHNIP SHAREHOLDER’S GUIDE
GOOD TO KNOW
Out of the 1,500 hydrogen
production plants around
the world, 400 were
constructed by Technip.
In this competitive
market, Technip must
constantly update
its expertise in hydrogen
to stay ahead of the
competition.
22/23
REVENUE UP 20% TO €8.2 BILLION
REVENUE
BREAKDOWN OF 2012 REVENUE BY GEOGRAPHY
(€ million)
32% AMERICAS
8,204
9%
AFRICA
6,813
14%
MIDDLE EAST
+ 20.4%
29%
EUROPE, RUSSIA,
CENTRAL ASIA
16%
ASIA PACIFIC
2011 2012
2012, A YEAR IN LINE WITH OUR TARGETS
OPERATING
INCOME
NET
INCOME
DILUTED EARNINGS
PER SHARE
ORDER
INTAKE
(€ million)
(€ million)
(€)
(€ million)
4.41 4.50
812
11,649
694
507
+ 17.1%
2011 2012
7,975
540
+ 6.4%
2011 2012
+ 2.1%
2011 2012
+ 46.0%
2011 2012
SOLID AND DIVERSIFIED BACKLOG
BREAKDOWN OF BACKLOG BY BUSINESS SEGMENT (€ million)
2011
2012
Change
Subsea
4,380
6,050
+ 38.1%
Offshore/Onshore
6,036
8,201
+ 35.9%
Total
10,416
14,251
+ 36.8%
Our Subsea backlog is made up of more than 10 projects of €100 to €350 million and more than 70 projects
of €10 to €100 million.
Our Offshore/Onshore backlog is made up of around 15 projects of €100 to €600 million and more than
50 projects of €10 to €100 million.
BREAKDOWN OF BACKLOG
BY GEOGRAPHY
BREAKDOWN OF BACKLOG
BY MARKET SPLIT
As of December 31, 2012
As of December 31, 2012
9%
AFRICA
30%
EUROPE, RUSSIA,
CENTRAL ASIA
2%
OTHER
42%
SHALLOW
WATER
12%
PETROCHEMS
11%
MIDDLE EAST
12%
GAS/LNG/FLNG
29% AMERICAS
21%
ASIA PACIFIC
14%
REFINING/HEAVY OIL
18%
DEEPWATER
> 1,000 METERS
A backlog of €14.3 billion with order intake of €11.6 billion in 2012.
TECHNIP SHAREHOLDER’S GUIDE
24/25
2013, A YEAR OF GROWTH
We expect to grow revenue and profit at Technip again in 2013 in both our
segments. We expect full year operating margins of around 15% in Subsea.
This target reflects on the one hand our robust, growing Subsea backlog,
but also the dilutive effect of the revenue contribution from recently-won
multiyear projects and the substantial start-up costs for both new vessels
and manufacturing plants. We target Onshore/Offshore operating margins
in line with our long-term expectations at 6 to 7%.
Improved outlook
We expect to grow revenue and profit at Technip
again in 2013 in both our segments.
Group revenue growing 11% to 16% to between
€9.1 and €9.5 billion
Subsea revenue growing to between €4.3
and €4.6 billion, with operating margin around 15%
Onshore/Offshore revenue growing to between
€4.7 and €5.1 billion, with operating margin
between 6% and 7%
TESTIMONIALS
Strategic framework
To maintain and develop:
A well diversified and profitable backlog
Key differentiating assets
Technology
Strong execution capability
Vertical integration
National content
Operational priorities
Maintain our focus on project execution to ensure
reliability in project delivery
Delivery and use of differentiating assets,
with start-up of the Deep Orient,
Deep Energy & Açu plant
Reinforce leadership position in offshore
production facilities, notably on FLNGs
and Spars
Leverage our enhanced downstream technology
portfolio notably in North America
Grow equipment and technology:
confirm flexibles as technology of choice
for deepwater developments
TECHNIP SHAREHOLDER’S GUIDE
Technip starts 2013 with a
substantial, profitable backlog
of business to execute. We believe
our markets, whilst competitive
and never immune to general
economic conditions, remain
robust and growing.
We will continue to be selective
about the projects we take
on so as to ensure reliable
execution and delivery to both
clients and shareholders.
On this basis, we expect to grow
revenue and profit at Technip
again in 2013 in both our segments.
Thierry Pilenko
Chairman and CEO
26/27
Technip’s share
Guiding you through taxation
Becoming a shareholder
Staying in touch with our shareholdres
Our privileged moments
The 2012 annual shareholders’ meeting:
highlights
TECHNIP SHAREHOLDER’S GUIDE
28/29
TECHNIP’S SHARE
A share price increase of almost 20% in 2012
Ranked second by French magazine “Investir” for overall stock market
profitability in 2012*
A 266% increase in the share price between 2009 and 2012
Technip share
Technip’s shares are listed on the NYSE Euronext market in Paris and the USA
over the-counter (OTC) market as an American Depositary Receipt (ADR).
ISIN code: FR0000131708
Reference index: CAC 40
Ticker: TEC
Eligible for deferred settlement service (SRD)**
and saving plan in shares (PEA)***
Market: A compartment
* Average rank on 3.5 and 10 years. ** SRD: Service de Règlement Différé. *** PEA: Plan d’Epargne en Actions.
Technip stock performance from January 1, 2012 to December 31, 2012
Share price
Higher share price
TECHNIP
86.84
91.84
+19.6%
20 %
CAC 40
15 %
+15.2%
10 %
5%
0%
113,040,513
496,027
9.81 billion
Number of outstanding shares:
Average daily volume:
Market capitalization:
-5 %
Lowest share price
69.09
1/2012
2/2012
3/2012
4/2012
5/2012
6/2012
As of December 31, 2012, Technip’s shares ranked 25th in the
CAC 40 by weighted capitalization (1.27%), compared to 36th
(0.64%), when Technip joined the index in September 2009.
Technip achieved an impressive stock market performance.
Technip’s share price rose by 19.6%, which outperformed the
STOXX R 600 Oil & Gas Index* by over 20% and the CAC 40
index by 4.4%. Technip had already achieved a strong
performance in 2011, ranking in fourth place in the CAC 40
with a share price increase of almost 5% whereas the CAC40
index fell by 16.95%.
In 2012, Technip continued to implement its strategy focused
on profitability based on successful project execution,
technological excellence and profitable order intake.
At the start of 2012, Technip’s share price was €72.62
and ended the year at €86.84. Its stock reached an all-time
high on October 22, 2012, at €92.36.
7/2012
8/2012
9/2012
10/2012
11/2012
12/2012
Credit rating
Long-term: BBB+
Outlook: Stable
Short-term: A-2
Date of last credit rating review:
September 19, 2011
Credit rating is the evaluation made by a credit rating agency
of the debt issuers likelihood of default. It corresponds to the
reimbursement perspectives of its creditors, and therefore
is a major criteria for investors regarding risks of defaulting.
Technip retains Standard & Poor’s to provide an independent
credit rating of Technip.
* The STOXX 600 Oil & Gas index includes European companies active in the
energy sector.
TECHNIP SHAREHOLDER’S GUIDE
30/31
Our shareholding structure reflects
Technip’s worldwide dimension.
Individual shareholders are stable,
at about 60,000 in November 2011,
representing 5.1% of the company’s
capital in 2012.
SHAREHOLDING STRUCTURE
(NOVEMBER 2012)
83.1% INSTITUTIONAL
INVESTORS
31.7% NORTH AMERICA
11.7%
UK AND IRELAND
5.2% FSI
5.1%
INDIVIDUAL
SHAREHOLDERS
2.5% IFP
ÉNERGIES NOUVELLES
16.4%
FRENCH
INSTITUTIONAL
INVESTORS
4.7% OTHERS
2.0% TREASURY SHARES
2.6% EMPLOYEES
18.1%
REST OF THE WORLD
2012: recognition of our stock’s
performance
Silver medal at the Shares’ Grand Prize.
Technip proudly received a silver medal at the Shares’ Grand Prize
organized by the French magazine, “Mieux Vivre Votre Argent*”.
This trophy is awarded to six companies amongst the top 100 market
capitalization in France. The candidates were assessed on 3 different
criteria: financial, social responsibility** and shareholder responsibility.
During the award ceremony Julian Waldron, Technip’s Chief Finance
Officer said: “This award is primarily the result of the hard work our
36,500 employees around the world puts in every day; it is also
testimony to the confidence of all our stakeholders, clients, partners,
suppliers and of course our shareholders.”
TESTIMONIALS
This award is primarily
the result of the hard work
our 36,500 employees
around the world puts
in every day; it is also
testimony to the confidence
of all our stakeholders.
Julian Waldron
Chief Financial Officer
* Better Living your Money.
** These criteria are assessed by Vigeo, a European, rating and auditingconsulting, linked to the environmental, social and governance stakes.
Photo: Julian Waldron and Fouad Benseddick, Vigeo’s Institutional
Methods and Relations Director.
Technip’s dividend:
a steady increase
Each year, once profits for the full year are known, Technip’s Board
of Directors may propose payment of a dividend. This proposal is
subject to approval by shareholders at the General Shareholders’
Meeting.
The continuity of its dividend policy is very important to Technip,
which aims to maintain or increase the dividend from one year to the
next. Technip’s Board of Directors recommends shareholders approve
a dividend of €1.68, up 6.3% compared with 2011.
If this proposal is adopted by the General Shareholders’ Meeting,
the dividend will be paid on May 7, 2012.
€1.68
2012 dividend
6.3% increase
2011
€1.58
2010
€1.45
2009
€1.35
2008
€1.20
Almost
2013 dividend timetable
MAY 2
Record date
TECHNIP SHAREHOLDER’S GUIDE
MAY 7
Dividend
payment day
9%
annual growth over last
four years
32/33
GUIDING YOU THROUGH TAXATION
In relation to share taxation, a distinction should be made between tax
on dividends and capital gains tax on disposals.
A further distinction should be made between tax in the strict sense
and social contributions.
Taxation of dividends for 2012 income
(2013 TAX RETURN)
Dividends received by shareholders who are resident for tax purposes in France are
taxable and subject to social contributions (CSG/CRDS/RSA). Shareholders have
two choices concerning taxation of dividends paid in 2012.
1. Personal income tax (“IRP”) rate, more often chosen
This choice gives entitlement to a standard uncapped 40% deduction.
N.B. The fixed, annual and global deduction of €3,050 for a couple
and €1,525 for a single person no longer applies from 2012.
2. Flat rate (“PLF”), optional choice to be notified to the financial
intermediary that manages your account
You do not benefit from the deduction mentioned above. For 2012 income, the PFL
rate is 21% for dividend income. Before making your choice, you should check with
your tax advisor which option is more interesting for you pertaining to your
particular situation.
Taxation of capital gains for 2012 income
(2013 TAX RETURN)
Capital gains from the sale of shares are now subject to income tax, as well as
to social contributions, irrespective of the amount of the sales made during
the year by the taxpayer. Thus, from the first euro of sale, all realized capital gains
made in 2011 will be taxed at the overall rate of 39.5% (i.e., income tax 24%
+ social contributions 15.50%).
Capital losses incurred since January 1, 2003 can be deducted from capital gains
of the same nature made during the year of disposal or the following ten years.
This is now possible, from the first euro of sale, for net capital losses recognized
as from 2012.
GOOD TO KNOW
Solidarity tax on wealth (“ISF”)
You can opt either for the last trading price on December 31, 2012,
or the average of the last 30 trading prices over the last 30 trading
days of the calendar year.
The information provided above is provided as an illustration. It does not provide
details of the specific regulations that may apply to your particular case and should
therefore not be construed as legal or tax advice, or as an opinion issued, or a
recommendation made by Technip. We recommend that you contact your financial
institution for further information.
TECHNIP SHAREHOLDER’S GUIDE
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BECOMING A SHAREHOLDER
Securities holding
Investment securities in France can be held in three different forms: bearer, administered registered or pure registered.
Difference between bearer, administered registered and pure registered shares
Technip securities may be held as “bearer” shares (managed by your bank or your financial intermediary) or as “registered” shares.
Registered shares are held by Société Générale, the bank which manages shares on behalf of Technip.
There are two types of registered shares:
either Technip holds and manages the shares directly: these are pure registered shares,
or the shares are registered with Technip, but managed by the bank chosen by the shareholder: these are administered registered shares.
PURE REGISTERED
Place of custody
Administration and custodial
expenses
Notice to attend
the General Meeting
Admission to
the General Meeting
Share purchase and sale orders
Annual tax returns
Registration in a PEA
French equity savings plan
ADMINISTERED REGISTERED
BEARER
Société Générale
Your financial intermediary
No charge for custody
and basic administration
Variable depending upon your financial intermediary’s charges
Notice of Meeting is automatically sent to you by letter
Contact your financial
intermediary
On presentation of your admission card
On presentation
of your admission card
or certificate of participation
To be transmitted to Société
Générale
To be transmitted to your financial intermediary
Société Générale will send
you a special tax form to allow
you to report dividends
received and capital gains
Your financial intermediary will send you a tax form listing all
transactions carried out on your shareholding account in the
course of the year and for capital gains
Not advised due to complexity
of French regulations
Possible
Yes
The advantages of pure registered
with technip
No custodian fees
Preferential brokerage rates: 0.30% with a minimum de
€9 for orders sent by any method (telephone, fax or post)
other than via internet and 0.25% with no minimum for orders
submitted by internet
A personal convocation to the General Shareholders’ Meeting
Double voting right after two years’ continuous ownership
Direct payment of the dividend
Direct access to your account via a secure website
How can i convert my shares
into pure registered shares?
If you already hold Technip bearer shares, you may request that
your shares be converted to “pure registered” shares or
“administered registered” shares with your financial intermediary
by submitting the completed form available on Technip’s
website, “Individual Shareholder” section.
You can also contact Technip’s Individual Shareholder Relations
Department:
at the following number: +33 (0)1 47 78 66 75
or by e-mail: [email protected].
Letter to Shareholders sent to your address
Invitation to thematic conferences at our head office
and to invitations around France
How to directly acquire pure
registered technip shares?
If you would like to open a pure registered account with Société
Générale’s Custody and Trustee department, apply directly by
post to the following address:
Service aux Émetteurs de la Société Générale
32, rue du Champ-de-Tir, CS 30812
GOOD TO KNOW
The pure registered share formula is
advantageous to persons who do not intend to
make frequent trades. A shareholder with pure
registered shares in more than one company will
receive as many annual statements as he owns
shares in the various companies.
44308 Nantes CEDEX 3, France
Or by fax: +33 (0)2 51 85 53 42
Or by phone: +33 (0)2 51 85 67 89
TECHNIP SHAREHOLDER’S GUIDE
36/37
STAYING IN TOUCH WITH OUR
SHAREHOLDERS
We greatly value our shareholders and provide them with regular information
to keep them up to date with Technip’s news and developments.
Several types of documents and information methods have therefore been
created for shareholders.
Information documents
The Activity and Sustainable Development Report, which describes Technip, its businesses, key figures and strategy.
The Reference Document is prepared at the end of the financial year to communicate detailed information about
the company’s activity, financial situation and outlook.
The Shareholder’s Guide provides practical information about Technip and its shareholder policy.
To receive the documents mentioned above, please contact the Individual Shareholder Relations Department.
The Letter to Shareholders which is published each quarter alongside the release of quarterly results, presents
information about Technip’s activities and its commitment to sustainable development through our ongoing projects.
The Technip at a glance summarizes the main information about the Group, its activities and its financial data.
Upgraded website dedicated to shareholders
Technip’s website gives you access to information on a variety of topics:
The “Investor Relations” section presents information and documentation
on financial results.
You can listen to live or recorded webcasts with the financial community.
Visitors can also find Technip’s share price, financial agenda, e-mail alerts to receive
press releases, stock performance tools and mobile site.
The “Individual Shareholders” section is dedicated to individual shareholders.
This was overhauled at the start of the year to give shareholders access to more practical
information about Technip, the management of their portfolios and events organized
by the Group for shareholders.
This section particularly includes the shareholders’ dashboard, numerous relevant
publications, as well as a glossary and Q&A area.
GOOD TO KNOW
You may directly receive Technip’s
press releases to your mailbox by
registering online. You will need to
click on the “mailing list” button
found in all pages on our website.
TECHNIP SHAREHOLDER’S GUIDE
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OUR PRIVILEGED MOMENTS
Transparency, listening and dialogue are the keywords guiding
Technip’s relationship with its shareholders. To strengthen this
relationship and to enable shareholders to find out more about our
business, we are increasing the number of opportunities for discussion,
dialogue and information: thematic conferences, site visits…
Shareholders’ meetings
These meetings are an opportunity for us to come and meet you in your local city, talk about Technip and gather your
comments and feedback.
The date and time of these meetings are announced in the Letter to Shareholders as well as in the agenda section of
our website. A shareholders’ meeting was last organized on December 17, 2012, in Strasbourg, France, in partnership
with other oil services companies. Pascal Streit, Vice President Strategies and Market Analysis presented the Group,
its expertise and its flagship projects in its three business lines: Subsea, Offshore and Onshore. More than 250 people
attended this meeting and benefited from the opportunity to share their points of view with the Technip team.
Thematic conferences
Site visits
In 2011, we launched a dynamic series of conferences
focusing on our business lines, following demands from a
number of shareholders. These are a chance to find out more
about the Technip’s business lines and divisions, as well as
our strategic developments such as acquisitions and alliances.
Two conferences were held in 2012 at Technip’s head office in
Paris and presented by senior managers, expert in their fields.
January: plant construction
The first conference of 2012 related to the construction
of a plant. It allowed shareholders to find out more about
the engineering challenges and the resources allocated by
Technip to address them, particularly the need for
simulations and virtual reality.
July: offshore wind turbines at the heart of renewable
energies
More than 50 shareholders had a chance to learn about the
renewable energies sector and understand the appeal of
Offshore Wind for Technip. This sociable event also allowed
shareholders to meet and chat with Technip employees
about their views and feelings.
We continued to program visits to industrial sites, a popular
activity among shareholders. In October 2012, a group of
Technip’s individual shareholders visited the Flexi France site,
one of our four flexible pipe production plants located in
Le Trait, Normandy.
The guided tour was preceded by talks presenting the Group’s
financial performances with a focus on third quarter results,
as well as the high value-added technologies and expertise
of Flexi France. Visitors enjoyed the day, which ended with a
presentation of the flexible pipe production chain and a meeting
with the teams of Flexi France.
Actionaria exhibition
On November 23 and 24, Technip participated in the
Actionaria Exhibition* in Paris. This exhibition allows
individual shareholders meet a range of stock-market players,
and to obtain information directly from listed companies
such as ours. Given the solid financial performance of the
Group over the last few years, and following good
recommendations we benefited from the various
shareholders conferences held during the show, and our
booth was very successful! Nearly 1,000 visitors, many of
them already Technip shareholders came to meet our teams.
It was a great opportunity for them to learn more about the
Group and get their feedback on our actions.
At the “Agora des Présidents” held on the afternoon of
November 23, Thierry Pilenko, Chairman and CEO, gave a live
interview attended by more than 200 people. This was an
opportunity for him to pass on key messages to our
shareholders, including our strategy for profitable and
sustainable growth.
* Actionaria is the main exhibition in France dedicated
to individual shareholders of listed companies.
GOOD TO KNOW
A video of this interview is available on our
website: Investors > Individual Shareholder
> Actionaria Exhibition
TECHNIP SHAREHOLDER’S GUIDE
TESTIMONIALS
I was very pleased with the tour. I already had
the opportunity to learn about Technip through
various movies, but it is much easier to understand
things on-site. I was very impressed by the scale
of the plant and reels, as well as with
all the technology and work which goes
on behind the scenes, as explained in detail
throughout the tour.
Mr Perrin
I really enjoyed the theoretical presentation which
preceded the tour, as it gave me a more practical
understanding of how a flexible pipe works. I now
have a better idea. However, coming from
a financial background, I didn’t understand
everything about the technological aspects,
though it remained interesting. We were also given
a very warm welcome.
Mrs Gondcaille
40/41
THE 2012 ANNUAL SHAREHOLDERS’ MEETING:
HIGHLIGHTS
Each year, the Annual Shareholders’ Meeting
marks the high point in our relationship with
our shareholders.
This major event is jointly organized by Technip’s
legal and Individual Shareholder Relations
Department. The Annual Shareholders’ Meeting
is an opportunity for each participant to
address the Executive Committee directly
and ask its members questions after their
presentations. Shareholders are then invited
to vote, allowing them to take part in the
decision-making process and to become
involved in the company’s life.
1,319
Shareholders attended the Meeting,
were represented or voted by mail
62.28%
111,408,439
Quorum reached
Number of outstanding shares as
of April 26, 2012
100%
Adopted resolutions
GOOD TO KNOW
Meeting notice
Pure and administered registered shareholders receive the meeting notice and
voting form directly at home. Bearer shareholders wishing to attend the Annual
Shareholders’ Meeting must submit a request to their financial intermediary.
All documents related to the
Annual Shareholders’ Meeting
are available on our website
at www.technip.com
(Investors > Annual Shareholders’
Meeting section).
How to participate in the Annual Shareholders’
Meeting?
Each Technip shareholder is entitled to participate in the Annual Shareholders’
Meeting. You may either attend the Annual Shareholders’ Meeting in person,
give a proxy to the Chairman of the Meeting, be represented, or cast your vote
by mail. The right to participate in the Meeting is subject to the registration of
the shares at least three business days prior to the date of the Meeting.
Voting form
You hold registered shares
Your voting form must be completed, dated, signed and returned with
the enclosed envelope.
You hold bearer shares
Please contact your financial intermediary who will provide you with the voting
form. The completed voting form (surname, full name, address, number
of shares, date and signature) should be sent to your financial intermediary
who will then tranfer the form and the certificate of participation to Société
Générale.
Technip awarded for 2012 Annual Shareholders’
Meeting
Technip receives special award for its Annual Shareholders’ Meeting
Technip was awarded the “Special Jury Grand Prize” in the 2012 CAC 40* Annual
Shareholders’ Meeting Grand Prize. This prize recognizes CAC 40 companies for
the organization of their Annual Shareholders’ Meeting according to strict
criteria defined by a jury. Technip, which has experienced strong growth in its
rating compared to 2011, was specifically recognized for its business model
presentation and the clarity of its operational information.
During the award ceremony, John Harrison, Technip’s General Counsel, declared:
“Before each Annual Shareholders’ Meeting we meet a great number of our
shareholders. This enables us to know their expectations and to define the
content accordingly”.
GOOD TO KNOW
You can send your questions
in relation to the agenda,
at the latest, four working days
before the Annual Shareholders’
Meeting, either:
by registered letter to
Technip
Secrétariat du Conseil
89, avenue de la Grande Armée
75116 Paris, France
to the following email address
assemblee.generale.
[email protected].
Your questions must be
accompanied by a certificate
of share ownership if you hold
bearer shares.
* The CAC 40 is the main French stock market index, based on market capitalization
of the 40 most significant listed companies in France.
TECHNIP SHAREHOLDER’S GUIDE
42/43
GLOSSARY
AMF (AUTORITÉ DES MARCHÉS
FINANCIERS)
The AMF is the French securities regulator.
It governs and oversees the conduct and
professional ethics of the financial markets
and protects the interests of shareholders.
CAC 40
The index was officially launched on
January 1, 1988 with a base value of 1,000
on December 31, 1987. The CAC 40 is the
recognized benchmark for the French cash
equity market. The index represents
a capitalization-weighted measure of the
40 most significant values among the
100 highest on the Paris Stock Exchange.
The most important companies have the
most influence on the index.
CAPITAL GAIN
Profit made at the sale of a share, equal
to the difference between its sale price
and its purchase price.
CUSTODIAL FEES
the allocation of profit by the Board of
Directors.
DJSI (DOW JONES SUSTAINABILITY INDEX)
Launched in 1999, the DJSI was the first
index to track the financial performances
of the leading sustainability driven
companies worldwide.
Fees paid to the financial intermediary
holding the share account. In general, these
fees amount to a percentage of the
portfolio or a fixed sum per line held.
If your shares are pure registered shares,
the custodial fees are paid by Technip.
EPS (EARNING PER SHARE)
DIVIDEND
EURONEXT
Share of the net profit of a company
that is distributed to shareholders.
The dividend amount is voted by the
Annual General Meeting of shareholders
after approval of the year’s accounts and
First Pan-European Exchange created by the
merger between Amsterdam Exchanges,
Brussels Exchanges, Lisbon Stock Exchange
and Paris Stock Exchange, Euronext is a
company under Dutch law. For regulatory
Financial indicator corresponding to net
profit divided by the number of shares
outstanding.
needed for its operations and
development.
This ratio measures the share price
as a multiple of earnings.
INSTITUTIONAL INVESTOR
QUORUM
An institutional investor is an entity,
company, mutual fund or insurance
corporation that has a large amount of
money or assets to invest in investment
securities, particularly shares in listed
companies.
Minimum percentage of shares with voting
rights present or represented required for
the General Shareholders Meeting to be
valid and able to deliberate.
ISIN (INTERNATIONAL SECURITIES
IDENTIFICATION NUMBER)
Identification number of shares listed on
the stock market. Technip’s ISIN code is
FR0000131708.
MARKET CAPITALIZATION
reasons, (particularly regarding listing and
takeover bids/public exchange offers), the
four market operators, now wholly-owned
subsidiaries of Euronext NV, are named
Euronext Amsterdam, Euronext Brussels,
Euronext Lisbon and Euronext Paris.
Euronext NV also owns 100% of the
London International Financial Futures and
Options Exchange (LIFFE), dedicated to
derivatives markets.
INCOME FROM RECURRING
ACTIVITIES
Difference between the revenues and
the expenses linked to the manufacture
of products, their distribution and sale
and the amortization of the company’s
investments. It is an indicator of the
company’s ability to generate the margin
TECHNIP SHAREHOLDER’S GUIDE
Market value of a company at a given
moment. It is equal to the share price
multiplied by the number of outstanding
shares.
NET INCOME
Profit or loss of the company obtained by
adding together operating income from
recurring activities, other operating income
and expenses, financial income, income
form equity affiliates and income from
discontinued activities and after deduction
of taxes.
OTC / ADR
SHARE
Negotiable title representing a fraction
of a company’s capital. A share gives its
holder (the shareholder) ownership of the
associated title and certain rights.
SRD (DEFERRED SETTLEMENT SERVICE)
French stocks bought and sold must be
settled and delivered immediately.
With the agreement of their financial
intermediary, investors can use the
deferred settlement service (SRD) to place
orders for shares which they do not have
at the time, but which must be available on
the account settlement day.
TREASURY SHARES
Percentage of the shares making up the
capital of a company that are held either
directly or indirectly by the issuing
company.
YIELD
Ratio corresponding to the relationship
between the dividend and the share price.
Technip is listed on NYSE Euronext Paris
and the American market “Over the
Counter” (OTC) as Amercian Deposit
Receipt (ADR). (4 ADR = 1 ordinary share).
PER (PRICE EARNING RATIO)
A valuation of a company’s share price
compared to its net earnings per share.
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2013 CALENDAR
FEBRUARY 21
2012
Full year results
APRIL 25
3:00 pm:
Annual Shareholders
Meeting
Centre Marceau
12, avenue Marceau
75008 Paris, France
2013
First quarter results
JULY 25
OCTOBER 31
NOVEMBER 22 & 23
2013
Second quarter
results
2013
Third quarter
results
Actionaria Exhibition,
Paris, France
YOUR SPECIAL CONTACTS
Stella Fumey
Individual Shareholder Relations Manager
Telephone: +33 (0)1 47 78 66 75
E-mail: [email protected]
Kimberly Stewart
Head of Investor Relations
Telephone: +33 (0)1 47 78 66 74
E-mail: [email protected]
E-accessible version
for visualy impaired
This document is conform to Web content accessibility standards, WCAG 2.0, and is certified ISO 14289-1. Its design enables people
with motor disabilities to browse through this PDF using keyboard commands. Accessible for people with visual impairments,
it has been tagged in full, so that it can be transcribed vocally by screen readers using any computer support. It has also
been tested in full and validated by a visually-impaired expert.
Director of the publication: Christophe Bélorgeot
Editor-in-chief: Stella Fumey
This document is published by Technip’s Communications Department.
It can be viewed and downloaded on the Technip Internet website:
www.technip.com>Investors>Individual Shareholder
This document is printed on paper made from fibers
from forests managed in a sustainable and equitable manner.
Design and production:
Publication date: March 2013.
TECHNIP SHAREHOLDER’S GUIDE
46/47
Photos: Technip photo library (T.Gonzales / A.Brum) - Magnum for Technip (H.Gruyaert / P.Zachmann) - April 2013
Technip
Individual Shareholder Relations Department
89, avenue de la Grande Armée
75116 Paris – France
E-mail: [email protected]
www.technip.com