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Note 1.Accounting principles
1.1.Background
Technip\u00a0Energies is incorporated as a public limited liability
company (naamloze vennootschap ) operating under the laws
of the Netherlands.
The legal and commercial name of Technip\u00a0Energies is
Technip\u00a0Energies\u00a0N.V. It is registered with the Dutch
Chamber of Commerce under number\u00a076122654.
Technip\u00a0Energies\u00a0N.V. has its corporate seat ( statutaire zetel )
in Amsterdam, the Netherlands, and its principal place of
business is at 2126, boulevard de la D\u00e9fense, CS\u00a010266,
92741\u00a0Nanterre Cedex, France (RCS\u00a0Nanterre\u00a0879\u00a0464\u00a0584).
Technip\u00a0Energies has prepared consolidated financial
statements in accordance with IFRS accounting standards as
adopted by the European Union (\u201cEU\u201d) for financial year 2025 .
These financial statements include comparative information
from Technip\u00a0Energies\u2019 consolidated financial statements for
2024 . Information for these periods constitutes
Technip\u00a0Energies\u2019 consolidated financial statements as of
December\u00a031, 2025. The consolidated financial statements
have been prepared on a going-concern basis.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-454": { "value": "The consolidated financial statements
have been prepared on a going-concern basis.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-455": { "value": "Business description
As one of the largest engineering and technology (\u201cE&T\u201d)
companies by revenue, the Technip\u00a0Energies Group offers a
full range of design and project development services to its
customers in the energy industry, from early-engagement
technical consulting through final acceptance.
The Group's core purpose is to combine its E&T capabilities
to bring forth new energy solutions and provide applications
for the world\u2019s energy transition, helping its client reach their
emissions reduction trajectory.
Technip\u00a0Energies\u2019 business focuses both on Project Delivery
and on Technology, Products and Services. Its activities cover
the study, engineering, procurement, construction, and
project management of the entire range of onshore and
offshore liquefaction infrastructures, as well as low-carbon
natural gas facilities, sustainable fuels and chemicals, blue
and green hydrogen, carbon capture, and circular economy.
Technip\u00a0Energies conducts large-scale, complex, and
challenging projects often in environments with extreme
climatic conditions. The Group relies on early engagement
and front-end design as well as technological know-how for
process design and engineering, either through the
integration of proprietary technologies or through alliances
with partners. Technip\u00a0Energies seeks to integrate and
develop advanced technologies and reinforce the Group\u2019s
project execution capabilities.
The Group\u2019s capabilities span from feasibility studies,
consulting services, process technology know-how,
proprietary equipment, and project management to full
engineering and construction. The Group\u2019s expertise in
integrating process technologies, either proprietary or from
third-party licensors, fosters early project engagement, with
a significant impact on project economics.
The Group partners with some of the world\u2019s best-known
players in technologies, equipment, and construction
worldwide. Additionally, the Group\u2019s project management
consulting services leverage its expertise in the management
of complex projects to the benefit of its clients.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAdditionalInformationExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-457": { "value": "Basis of preparation
Technip\u00a0Energies\u2019 consolidated financial statements as of
December\u00a031, 2025, are prepared under the presentation,
recognition and measurement rules set out in the IFRS
published by the IASB and approved by the EU for application
as of December\u00a031, 2025.
The Group has not opted for early application of standards
and interpretations that were not yet mandatory in 2025.
The consolidated financial statements are presented
in\u00a0millions of euros. As table totals are based on unrounded
figures, there may be discrepancies between these totals and
the sum of their rounded component figures.
The consolidated financial statements were prepared under
the responsibility of and approved by the Board of Directors
on March\u00a010, 2026.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-456": { "value": "Basis of preparation
Technip\u00a0Energies\u2019 consolidated financial statements as of
December\u00a031, 2025, are prepared under the presentation,
recognition and measurement rules set out in the IFRS
published by the IASB and approved by the EU for application
as of December\u00a031, 2025.
The Group has not opted for early application of standards
and interpretations that were not yet mandatory in 2025.
The consolidated financial statements are presented
in\u00a0millions of euros. As table totals are based on unrounded
figures, there may be discrepancies between these totals and
the sum of their rounded component figures.
The consolidated financial statements were prepared under
the responsibility of and approved by the Board of Directors
on March\u00a010, 2026.
", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-458": { "value": "
The consolidated financial statements were prepared under
the responsibility of and approved by the Board of Directors
on March\u00a010, 2026.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-460": { "value": "Changes in accounting policies
and\u00a0disclosures
a.IFRS standards, amendments and
interpretations effective as of January\u00a01,
2025
Lack of exchangeability - Amendments to IAS\u00a021
In August 2023, the International Accounting Standards Board
(IASB) issued Lack of Exchangeability (Amendments to
IAS\u00a021).
The amendment to IAS\u00a021 specifies how an entity should
assess whether a currency is exchangeable and how it should
determine a spot exchange rate when exchangeability is
lacking.
The above-mentioned new amendment, effective on
January\u00a01, 2025, did not have a significant impact on the
Company\u2019s consolidated financial statements.
b.Published IFRS standards, amendments and\u00a0interpretations not yet effective
or\u00a0early\u00a0adopted\u00a0by the Group
Norm
Effective date
Statement
Classification and Measurement of
Financial Instruments -
Amendments to IFRS\u00a09 and IFRS\u00a07
Jan 1, 2026
The amendments to IFRS\u00a07 and IFRS\u00a09 specify the requirements related
to:
\u25a0 settling financial liabilities using an electronic payment system;
\u25a0 assessing contractual cash flow characteristics of financial assets,
including those with environmental, social and governance (ESG)-
linked features;
\u25a0 disclosure requirements relating to investments in equity
instruments designated at fair value through other comprehensive
income and added disclosure requirements for financial instruments
with contingent features.
Annual improvements to IFRS
standards - Volume\u00a011
Jan 1, 2026
The International Accounting Standards Board (IASB) has published
\u201cAnnual Improvements to IFRS\u00a0Accounting Standards \u2014 Volume 11\u201d. It
contains amendments to five standards as a result of the IASB\u2019s annual
improvements project:
\u25a0 IFRS\u00a01: Hedge accounting by a first-time adopter;
\u25a0 IFRS\u00a07: Gain or loss on derecognition;
\u25a0 IFRS\u00a07: Disclosure of deferred difference between fair value and
transaction price;
\u25a0 IFRS\u00a07: Introduction and credit risk disclosures;
\u25a0 IFRS\u00a09: Lessee derecognition of lease liabilities;
\u25a0 IFRS\u00a09: Transaction price;
\u25a0 IFRS\u00a010: Determination of a \u201cde facto agent\u201d;
\u25a0 IAS\u00a07: Cost method.
Power Purchase Agreements -
Amendments to IFRS\u00a09 and IFRS\u00a07
Jan 1, 2026
The amendments to IFRS\u00a09 and IFRS\u00a07 include:
\u25a0 Clarifying the application of the \u201cown-use\u201d requirements;
\u25a0 Permitting hedge accounting if these contracts are used as
hedging instruments;
\u25a0 Adding new disclosure requirements to enable investors to
understand the effect of these contracts on a company\u2019s
financial performance and cash flows.
IFRS\u00a018 \u2013 Presentation and
Disclosure in Financial Statements
Jan 1, 2027
In April 2024, the IASB issued IFRS\u00a018 Presentation and Disclosure in
Financial Statements, which replaces IAS\u00a01 Presentation in Financial
Statements. IFRS\u00a018 introduces new categories and subtotals in the
statement of profit or loss. It also requires disclosure of management-
defined performance measures (as defined) and includes new
requirements for the location, aggregation, and disaggregation of
financial information.
IFRS\u00a019 - Subsidiaries without
Public Accountability: Disclosures
Jan 1, 2027
In May 2024, the IASB issued IFRS\u00a019 Subsidiaries without Public
Accountability: Disclosures, which allows eligible entities to elect to
apply reduced disclosure requirements while still applying the
recognition, measurement, and presentation requirements in other
IFRS\u00a0accounting standards.
Translation to a Hyperinflationary
Presentation Currency \u2013
Amendments to IAS\u00a021
Jan 1, 2027
In November 2025, the IASB issued Translation to a Hyperinflationary
Presentation Currency \u2013 Amendments to IAS\u00a021. The amendments
require translation from a non-hyperinflationary functional currency into
a hyperinflationary presentation currency at the closing rate.
Disclosures about Uncertainties in
the financial statements
No effective
date
In November 2025, the IASB issued Amendments to Illustrative
Examples on IFRS\u00a07, IFRS\u00a018, IAS\u00a01, IAS\u00a08, IAS\u00a036, and IAS\u00a037 -
Disclosures about Uncertainties in the financial statements. The
examples are intended to improve the reporting of climate-related and
other uncertainties in the financial statements
New standards, interpretations, or amendments effective on January\u00a01, 2026 and 2027 were not early adopted by
Technip\u00a0Energies. The Group is assessing the expected impacts on the presentation and disclosure of our financial statements
related to the implementation of IFRS\u00a018. Regarding other new standards, amendments, and interpretations, the Group does
not currently anticipate any material impact.
Key judgments and estimates
The preparation of Technip\u00a0Energies\u2019 consolidated financial
statements requires the use of key judgments and estimates,
either at the balance sheet date or during the period that
affects reported amounts of assets, liabilities, incomes, and
expenses.
Management exercises its best judgment based upon its
experience and the circumstances prevailing as of the
reporting date. Judgments and estimates are reviewed
periodically, on an ongoing basis, and may be reassessed if
the circumstances and assumptions on which they were
based change, if new information becomes available, or
because of greater experience.
Consequently, the actual result from operations may differ
from these estimates. In addition, Technip\u00a0Energies Group\u2019s
exposure to risks is also discussed in Note 1. Accounting
principles and Note 28. Market-related exposure.
a.Judgments in applying accounting policies
Revenue recognition
Most of the Group\u2019s revenue is derived from long-term
contracts that can span several years. The Group accounts
for revenue in accordance with IFRS\u00a015, as described in
paragraph\u00a0b. Recognition of revenue from customer contracts
of Note\u00a01.5. Summary of significant accounting policies.
A significant portion of total revenue recognized over time
primarily relates to a large range of onshore facilities and
fixed and floating offshore facilities that involve the design,
engineering, manufacturing, construction, and assembly of
complex, customer-specific systems. Because of control
transferring over time, revenue is recognized based on the
extent of progress toward completion of the performance
obligation. The selection of the method to measure progress
toward completion requires judgment and is based on the
nature of the products or services to be provided. The Group
generally uses the cost-to-cost measure of progress for its
contracts because it best depicts the transfer of control to
the customer that occurs as the Group incurs costs on its
contracts.
Due to the nature of the work required to be performed on
performance obligations, the estimation of total revenue and
costs at completion is complex, subject to many variables,
and requires significant judgment. It is common for long-
term contracts to contain award fees, incentive fees, or other
provisions that can either increase or decrease the
transaction price. The estimated amounts in the transaction
price are included when management believes there is an
enforceable right to the modification, the amount can be
estimated reliably, and its realization is probable. The
estimated amounts are included in the transaction price to
the extent it is probable that a significant reversal of
cumulative revenue recognized will not occur when the
uncertainty associated with the variable consideration
is\u00a0resolved.
The Group executes contracts with its customers that clearly
describe the equipment, systems, and/or services. After
analyzing the drawings and specifications of the contract
requirements, project engineers estimate total contract costs
based on their experience with similar projects and then
adjust these estimates for specific risks associated with each
project, such as technical risks associated with a new design.
Costs associated with specific risks are estimated by
assessing the probability that conditions arising from these
specific risks will affect the total cost to complete the
project.
After work on a project begins, assumptions that form the
basis for the calculation of total project cost are examined
on a regular basis and estimates are updated to reflect the
most current information and management\u2019s best judgment.
Adjustments to estimates of contract revenue, total contract
cost, or extent of progress towards completion are often
required as work progresses under the contract and
as\u00a0experience is gained, even though the scope of work
required under the contract may not change. The nature of
accounting for long-term contracts is such that refinements
of the estimating process for changing conditions and new
developments are continuous and characteristic of
the\u00a0process.
Consequently, the amount of revenue recognized over time is
sensitive to changes in estimates of total contract costs.
There are many factors, including, but not limited to, the
ability to properly execute the engineering and design phases
consistent with customers\u2019 expectations, the availability and
costs of labor and material resources, productivity, and
weather, all of which can affect the accuracy of cost
estimates and, ultimately, future profitability.
b.Assumptions and sources of estimation
uncertainty
The key assumptions concerning the future and other key
sources of estimation uncertainty at the reporting date,
which could have a significant risk of causing a material
adjustment to the carrying amount of assets and liabilities
within the next financial year relate to:
\u25a0 Impairment of non-financial assets;
\u25a0 Income tax;
\u25a0 Accounting for pension and other post-retirement benefit
plans;
\u25a0 Provisions.
Impairment of non-financial assets
\u25aa Goodwill
Goodwill represents the excess of cost over the fair market
value of net assets acquired in business combinations.
Goodwill is not subject to amortization but is tested for
impairment at the level of CGU or GCGUs the goodwill has
been allocated to, on an annual basis, or more frequently if
impairment indicators arise. Management has established
September\u00a030 as the date of its annual test for impairment
of goodwill. Management identifies a potential impairment by
comparing the recoverable amount of the applicable CGU or
GCGUs to its carrying amount, including goodwill. If the
carrying amount exceeds the recoverable amount of the
applicable CGU or GCGUs, management measures the
impairment by comparing the carrying value of the CGU or
GCGUs to its recoverable amount. CGUs with goodwill are
tested for impairment using a quantitative impairment test.
Determining the recoverable amount of CGUs is judgmental
and involves the use of significant estimates and
assumptions. Management estimates the recoverable amount
of the Group CGUs using a discounted future cash flow
model. Most of the estimates and assumptions used in a
discounted future cash flow model on a post-tax basis
involve unobservable inputs reflecting management\u2019s own
assumptions about the assumptions market participants
would use in estimating the fair value of a business. These
estimates and assumptions include revenue growth rates and
operating margins used to calculate projected future cash
flows, discount rates, and future economic and market
conditions. The estimates are based upon assumptions
believed to be reasonable, but which are inherently uncertain
and unpredictable and do not reflect unanticipated events
and circumstances that may\u00a0occur.
A lower recoverable amount estimate in the future for any of
the Group\u2019s CGUs could result in goodwill impairment.
Factors that could trigger a lower recoverable amount
estimate include sustained price declines of the CGUs\u2019
products and services, cost increases, regulatory or political
environment changes, changes in customer demand, and
other changes in market conditions, which may affect certain
market participant assumptions used in the discounted
future cash flow model based on internal forecasts of
revenues and expenses over a specified period plus a
terminal value (the income approach).
The income approach estimates recoverable amount by
discounting each CGUs estimated future cash flows using a
weighted-average cost of capital that reflects current market
conditions and the risk profile of CGU\u2019s. To arrive at future
cash flows, management uses estimates of economic and
market assumptions, including growth rates in revenues,
costs, estimates of future expected changes in operating
margins, tax rates, and capital expenditures. Future revenues
are also adjusted to match changes in the Group business
strategy. Management believes this approach is an
appropriate valuation method and utilizes this approach in
determining the CGUs\u2019 valuations.
For additional information related to goodwill impairment
testing during the periods presented, refer to Note 14.
Goodwill and intangible assets.
\u25aa Property, plant and equipment and identifiable
intangible assets
Property, plant and equipment and identifiable intangible
assets being amortized are reviewed for impairment
whenever events or changes in circumstances indicate the
carrying amount of the non-financial assets may not be
recoverable. The carrying amount of a non-financial asset is
not recoverable if it exceeds the recoverable amount
determined as the higher of an asset\u2019s fair value less costs of
disposal and its value in use. If it is determined that an
impairment loss has occurred, the loss is measured as the
amount by which the carrying amount of the non-financial
asset exceeds its recoverable amount. The determination of
future value in use as well as the estimated fair value of
non-financial assets involves significant estimates on the
part of management. Because there is usually a lack of
quoted market prices for non-financial assets, fair value of
impaired assets is typically determined based on the present
values of expected future cash flows using discount rates
believed to be consistent with those used by principal
market participants or based on a multiple of operating cash
flow validated with historical market transactions of similar
assets where possible. The expected future cash flows used
for impairment reviews and related fair value calculations are
based on judgmental assessments of future productivity of
the asset, operating costs and capital decisions, and all
available information at the date of review. If future market
conditions deteriorate beyond current expectations and
assumptions, impairments of non-financial assets may be
identified if management concludes that the carrying
amounts are no longer recoverable.
Refer to paragraphs\u00a0h) Property, plant and equipment
and\u00a0j)\u00a0Intangible assets for estimates and accounting policies
relevant to those assets.
Income tax
Income tax expense, deferred tax assets and liabilities, and
reserves for uncertain tax positions reflect management\u2019s
best assessment of estimated future taxes to be paid. The
Group is subject to income taxes in France and numerous
other jurisdictions. Judgments and estimates are required in
determining the consolidated income tax expense.
In determining the current income tax provision,
management assesses temporary differences resulting from
differing treatments of items for tax and accounting
purposes. These differences result in deferred tax assets and
liabilities, which are recorded in the consolidated statement
of financial position. When management assesses deductible
temporary differences, including those originating from tax
losses carried forward, management must assess the
probability that these will be recovered through the future
taxable income. To the extent management believes recovery
is not probable, no deferred tax asset is recognized.
Management believes the assessment related to the
availability of future taxable income is a critical accounting
estimate because it is highly susceptible to change from
period to period, requires management to make assumptions
about future income over the period of deductible temporary
differences, and finally, the impact of increasing or
decreasing deferred tax assets is potentially material to the
results of operations.
Forecasting future income requires the use of a significant
amount of judgment. In estimating future income,
management uses internal operating budgets and long-range
planning projections. Management develops its budgets and
long-range projections based on recent results, trends,
economic and industry forecasts influencing the Group\u2019s
performance, its backlog, planned timing of new product
launches, and customer sales commitments. Significant
changes in management\u2019s judgment related to the expected
realizability of deductible temporary differences result in an
adjustment to the associated deferred tax asset.
The calculation of income tax expense involves dealing with
uncertainties in the application of complex tax laws and
regulations in numerous jurisdictions in which the Group
operates. Management recognizes tax benefits related to
uncertain tax positions when, in management\u2019s judgment, it
is more likely than not that such positions will be sustained
on examination, including resolutions of any related appeals
or litigation, based on the technical merits. Management
adjusts liabilities for uncertain tax positions when its
judgment changes because of new information previously
unavailable. Due to the complexity of some of these
uncertainties, their ultimate resolution may result in
payments that are materially different from current
estimates. Any such differences will be reflected as
adjustments to income tax expense in the periods in which
they are determined.
IFRIC\u00a023 \u201cUncertainty over Income Tax Treatments\u201d provides
guidance on how to recognize and measure uncertainty over
\u201cincome tax\u201d treatment as defined by paragraph\u00a05 of IAS\u00a012.
The Group analyses all the tax treatments impacting current
tax or deferred tax and reported or planned to be reported in
income tax filings that could be challenged by the tax
authorities. The tax assets and liabilities relating to these
uncertain tax treatments are\u00a0reviewed on a case-by-case
basis assuming full knowledge of the tax authorities and
measured at the most probable\u00a0amount.
For further information, refer to Note 13. Income tax.
Accounting for pension and other post-retirement
benefit plans
The determination of the projected benefit obligations of
pension and other post-retirement benefit plans is important
to the recorded amounts of such obligations in the
consolidated statement of financial position and to the
amount of pension expense in the consolidated statement of
income. To measure the projected benefit obligations of
pension and other post-retirement benefit plans and the
expense associated with such benefits, management must
make a variety of assumptions and estimates, including
discount rates used to value certain liabilities, rates of
compensation increase, employee turnover rates, retirement
rates, mortality rates, and other factors. Management
updates these assumptions and estimates on an annual basis
or more frequently upon the occurrence of significant events.
These accounting assumptions and estimates consider the
risk of change due to the uncertainty and difficulty in
estimating these measures. Different assumptions and
estimates used by management could result in recognition of
different amounts of expense over different periods of time.
The discount rate affects the interest cost component of net
periodic pension cost and the calculation of the projected
benefit obligation. The discount rate is based on rates at
which the pension benefit obligation could be effectively
settled on a present value basis. Discount rates are derived
by identifying a theoretical settlement portfolio of long-term,
high quality (\u201cAA\u201d rated) corporate bonds at determination
date that is sufficient to provide for the projected pension
benefit payments. A single discount rate is determined that
results in a discounted value of the pension benefit
payments that equate to the market value of the selected
bonds. The resulting discount rate is reflective of both the
current interest rate environment and the pension\u2019s distinct
liability characteristics. Significant changes in the discount
rate, such as those caused by changes in the yield curve, the
mix of bonds available in the market, the duration of
selected bonds, and the timing of expected benefit
payments, may result in volatility in pension expense and
pension liabilities.
Due to the specialized and statistical nature of these
calculations, which attempt to anticipate future events,
management engages third-party specialists to assist in
evaluating assumptions as well as appropriately measuring
the costs and obligations associated with these pension and
other post-retirement benefits.
The actuarial assumptions and estimates made by
management in determining pension and other post-
retirement benefit obligations may materially differ from
actual results because of changing market and economic
conditions and changes in plan participant assumptions.
While management believes the assumptions and estimates
used are appropriate, differences in actual experience or
changes in plan participant assumptions may materially
affect the Technip\u00a0Energies Group\u2019s financial position or
results of operations.
The Group\u2019s pension and other post-retirement obligations
are described in Note 24. Pensions and other long-term
employee benefit plans.
Provisions
The Group is involved in judicial or administrative litigation.
The process for assessing and measuring the risks related to
these proceedings is based on multiple factors that require
assumptions and estimates, particularly regarding the
assessment of uncertainties. Provisions are estimated based
on the Group best estimate of the expenditure required to
settle the obligations, considering all relevant information
available and different possible outcomes at the reporting
date.
1.7.Other sources of estimation
uncertainty
In the elaboration of its financial statements, the Group
considered as other sources of estimation uncertainty the
following:
\u25a0 Climate-related matters;
\u25a0 Macroeconomic conditions.
Climate-related matters
The Group considered climate-related matters in the
preparation of its financial statements and concluded to the
absence of material impacts on assets and liabilities
reported as well as those that may be recognized in the
future for the following reasons:
\u25a0 Technip\u00a0Energies generally acts as a contractor. As such,
its portfolio and positioning are evolving with the energy
transition unfolding landscape. The profile of projects and
services is directly linked to Group clients\u2019 investments to
transform energy production infrastructure, meet
environmental targets, and address the need to reduce
global warming and greenhouse gas emissions;
\u25a0 Due to its operating model, the Group does not hold
material tangible or intangible assets that could become
obsolete considering climate-related matters and would
therefore require a revision of estimated residual values or
expected useful lives. This also explains why none of the
Group\u2019s assets is forecasted to bear subsequent major
expenditures to cope with obsolescence or new legal
restrictions;
\u25a0 The Group has strong experience of conducting projects in
extreme weather conditions.
The specific positioning of the Group in the value chain
and the way Technip\u00a0Energies participates in the energy
transition is described in section\u00a03.2.5.\u00a0EU Green
Taxonomy.
Impairment of non-financial assets
The Group is engaged in activities and markets that are
designed to support the energy transition framework with a
business that combines its long-cycle high revenue operating
segment, Project Delivery, with its short-cycle higher margin
one, Technology, Products and Services.
Technip\u00a0Energies\u2019 commercial pipeline is balanced by market
and geography and further supports business expansion and
diversification, with one third of the pipeline dedicated to
decarbonization markets. In its 2025 Gas Report, the
International Energy Agency expects a rapid expansion of
low-emission gases through to 2030. Specifically, its outlook
forecasts that supply will increase 2.5 times between now
and 2030. In absolute terms, that corresponds to an increase
of over 20\u00a0billion cubic meters equivalent. It also points out
that Carbon Capture, Utilization and storage (CCUS) is
increasingly integrated in the outlook for LNG projects and
quotes as an example the CCUS hub designed to support the
North Field East LNG expansion, one of the first large LNG
projects to integrate CCUS from the design stage.
The business plan underpinning the impairment test
performed reflects Management expectations in terms of
exposure to climate risks, in relation to regulations, clients\u2019
expectations, or industry energy source shifts per geographic
area, and Technip\u00a0Energies\u2019 development in solutions in
hydrogen, offshore wind farms, ethylene, sustainable
chemistry, carbon-free energy, decarbonization projects, and
carbon capture.
In addition to the portfolio mix reflected in the prospective
financial information, the business plan used for the
impairment test captures the following elements:
\u25a0 Consideration of strategic initiatives: on circular economy
and textile regeneration, namely the Reju initiative, the
Group only captured short-term and early-stage setup
costs. For the initiative on the Green Hydrogen sector,
namely Rely, the Group captured the capital expenditures,
the costs and revenues in the business plan, and terminal
value;
\u25a0 Expenditures associated with climate: the Group business
plan also includes a substantial amount of expenditure,
for a total of \u20ac385.0\u00a0million. These expenses mostly relate
to the Group roadmap to reduce Scope\u00a01 and 2 emissions
by 90% in 2030 by optimizing the buildings portfolio (such
as the relocation of our teams in Houston, refurbishments
and optimization of owned and leased assets for offices)
as well as increased R&D allocated to energy transition,
and a portion of the remuneration that includes schemes
that incorporate sustainability-related performance
indicators.
Sensitivity performed on these expenditures, with a change
of -10%/+10%, would not lead to a risk of impairment.
Share-based compensation and remuneration policy
applied to Executive Director, Executive Committee
members, Senior Managers, and other key employees
The Compensation Committee of the Board of Directors has
granted to the Executive Director, Executive Committee
members, Senior Managers, and other key employees (e.g.,
technical experts, high potentials) a Long-Term Incentive
plan in the form of Performance Stock Units (PSUs) and
Restricted Stock Units (RSUs). The PSU vesting is subject to
the satisfactory achievement of performance conditions. As
of 2025, the performance conditions comprise the total
shareholder return (\u201cTSR\u201d), Earnings Per Shares (\u201cEPS\u201d) and a
set of two weighted ESG indicators directly derived from our
ESG Roadmap to support Technip\u00a0Energies\u2019 vision in
accelerating energy transition for a \u201cbetter tomorrow\u201d and to
strengthen the alignment with sustainable long-term value
creation. One of these indicators is a climate-friendly
objective: 50% reduction in Scope\u00a01 and 2 greenhouse gas
emissions by 2027.
In addition, the Executive Director\u2019s remuneration includes
incentive schemes that embed sustainability-related
performance indicators, notably the Short-Term Incentive
program with ESG KPIs derived from the Company\u2019s ESG
roadmap. These changes were introduced in 2023 and are
described in section\u00a06.5.1. Executive Director remuneration.
The ESG business performance indicators weighting is set to
25%.
Green financing
The terms and conditions of the Group financing agreements
do not include climate-friendly covenants or objectives,
except for the 2025 Revolving Facility for which the
applicable margin is adjusted based on the successful
completion by the Group of the 3 ESG key performance
indicators inherited from the former revolving facility:
reduction of carbon footprint, supporting of ESG ratings, and
improvement of gender diversity, which will be readjusted
moving forward.
Macroeconomic conditions
2025 was marked by a range of geopolitical and energy
issues, which have effects on Technip\u00a0Energies\u2019 consolidated
financial statements. The estimates described below have
been reviewed to take into consideration this specific
macroeconomic environment.
Assessment of U.S. trade policy evolution and tariff
implications
During the year ended December\u00a031, 2025, the U.S.
administration adopted new trade policies and imposed an
increase in tariffs on goods imported into the USA.
The Group\u2019s U.S. theoretical exposure is mostly related to its
Project Delivery operating segment where Technip Energies
acts as an engineering, procurement & construction (EPC)
contractor. Technip Energies has implemented relevant
contractual protections in the terms and conditions of its
projects to ensure that Technip Energies retains no risks or
exposure to tariffs, and this exposure is passed through to
the clients. As such, the direct impact of U.S. tariffs on its
earnings appears extremely limited.
The Group also closely monitors the impact of tariffs on the
supply chain and on how potential U.S. tariffs could increase
costs, impact margins for its clients, and ultimately slow
down project awards or investments. As a mitigation plan to
lower those risks, the Group has a flexible and geographically
diversified yard network and an extensive vendor list to
provide reliable options to its clients.
Trade tensions could indirectly affect our markets due to a
climate of international uncertainty and impact the global
macroeconomic environment. The Group will continue to
closely monitor such evolutions and take all relevant
measures.
Measurement of the present value
of the post-employment benefit obligations
Actuarial assumptions have been revalued (wage and
discount rate increase) to reflect the long-term economic
forecast. Assumptions used to assess post-retirement
valuation as of December\u00a031, 2025, include:
\u25a0 The discount rates set by reference to market yields on
high-quality corporate bonds (or government bonds in
countries where the market in such corporate bonds is
not deep);
\u25a0 The expected long-term inflation assumption set by
reference to the European Central Bank target;
\u25a0 The spread above the assumed long-term inflation to
derive the expected yearly salary increase.
Moreover, to consider increased volatility observed on key
assumptions such as discount rate and inflation rate,
sensitivities are disclosed based on +/- 50 bps ranges.
Impairment test of non-financial assets
During the year ended December\u00a031, 2025, the exposure to
inflation decreased but geopolitical uncertainty remains.
Within the impairment test, these risks and uncertainties
have been directly considered in the business plan with the
best estimates of the income and expenditure of the CGUs
according to industry projections and with Management
experience and future expectations, and indirectly through
the Weighted Average Cost of Capital (\u201cWACC\u201d), which
incorporates the recent decrease in risk-free rates and a
lower country risk premium.
The weighted average cost of capital per operating segment is as follows:
December\u00a031, 2025
December\u00a031, 2024
Project Delivery
10.3%
10.8%
Technology, Products & Services
9.0%
9.5%
Long-term growth rates used to estimate cash flow
projections beyond the period covered by the budgets
remained unchanged compared to last year at 2.3%.
The consideration of the above-mentioned did not lead to
the recognition of impairment, as described in Note 14.
Goodwill and intangible assets.
", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-459": { "value": "Changes in accounting policies
and\u00a0disclosures
a.IFRS standards, amendments and
interpretations effective as of January\u00a01,
2025
Lack of exchangeability - Amendments to IAS\u00a021
In August 2023, the International Accounting Standards Board
(IASB) issued Lack of Exchangeability (Amendments to
IAS\u00a021).
The amendment to IAS\u00a021 specifies how an entity should
assess whether a currency is exchangeable and how it should
determine a spot exchange rate when exchangeability is
lacking.
The above-mentioned new amendment, effective on
January\u00a01, 2025, did not have a significant impact on the
Company\u2019s consolidated financial statements.
b.Published IFRS standards, amendments and\u00a0interpretations not yet effective
or\u00a0early\u00a0adopted\u00a0by the Group
Norm
Effective date
Statement
Classification and Measurement of
Financial Instruments -
Amendments to IFRS\u00a09 and IFRS\u00a07
Jan 1, 2026
The amendments to IFRS\u00a07 and IFRS\u00a09 specify the requirements related
to:
\u25a0 settling financial liabilities using an electronic payment system;
\u25a0 assessing contractual cash flow characteristics of financial assets,
including those with environmental, social and governance (ESG)-
linked features;
\u25a0 disclosure requirements relating to investments in equity
instruments designated at fair value through other comprehensive
income and added disclosure requirements for financial instruments
with contingent features.
Annual improvements to IFRS
standards - Volume\u00a011
Jan 1, 2026
The International Accounting Standards Board (IASB) has published
\u201cAnnual Improvements to IFRS\u00a0Accounting Standards \u2014 Volume 11\u201d. It
contains amendments to five standards as a result of the IASB\u2019s annual
improvements project:
\u25a0 IFRS\u00a01: Hedge accounting by a first-time adopter;
\u25a0 IFRS\u00a07: Gain or loss on derecognition;
\u25a0 IFRS\u00a07: Disclosure of deferred difference between fair value and
transaction price;
\u25a0 IFRS\u00a07: Introduction and credit risk disclosures;
\u25a0 IFRS\u00a09: Lessee derecognition of lease liabilities;
\u25a0 IFRS\u00a09: Transaction price;
\u25a0 IFRS\u00a010: Determination of a \u201cde facto agent\u201d;
\u25a0 IAS\u00a07: Cost method.
Power Purchase Agreements -
Amendments to IFRS\u00a09 and IFRS\u00a07
Jan 1, 2026
The amendments to IFRS\u00a09 and IFRS\u00a07 include:
\u25a0 Clarifying the application of the \u201cown-use\u201d requirements;
\u25a0 Permitting hedge accounting if these contracts are used as
hedging instruments;
\u25a0 Adding new disclosure requirements to enable investors to
understand the effect of these contracts on a company\u2019s
financial performance and cash flows.
IFRS\u00a018 \u2013 Presentation and
Disclosure in Financial Statements
Jan 1, 2027
In April 2024, the IASB issued IFRS\u00a018 Presentation and Disclosure in
Financial Statements, which replaces IAS\u00a01 Presentation in Financial
Statements. IFRS\u00a018 introduces new categories and subtotals in the
statement of profit or loss. It also requires disclosure of management-
defined performance measures (as defined) and includes new
requirements for the location, aggregation, and disaggregation of
financial information.
IFRS\u00a019 - Subsidiaries without
Public Accountability: Disclosures
Jan 1, 2027
In May 2024, the IASB issued IFRS\u00a019 Subsidiaries without Public
Accountability: Disclosures, which allows eligible entities to elect to
apply reduced disclosure requirements while still applying the
recognition, measurement, and presentation requirements in other
IFRS\u00a0accounting standards.
Translation to a Hyperinflationary
Presentation Currency \u2013
Amendments to IAS\u00a021
Jan 1, 2027
In November 2025, the IASB issued Translation to a Hyperinflationary
Presentation Currency \u2013 Amendments to IAS\u00a021. The amendments
require translation from a non-hyperinflationary functional currency into
a hyperinflationary presentation currency at the closing rate.
Disclosures about Uncertainties in
the financial statements
No effective
date
In November 2025, the IASB issued Amendments to Illustrative
Examples on IFRS\u00a07, IFRS\u00a018, IAS\u00a01, IAS\u00a08, IAS\u00a036, and IAS\u00a037 -
Disclosures about Uncertainties in the financial statements. The
examples are intended to improve the reporting of climate-related and
other uncertainties in the financial statements
New standards, interpretations, or amendments effective on January\u00a01, 2026 and 2027 were not early adopted by
Technip\u00a0Energies. The Group is assessing the expected impacts on the presentation and disclosure of our financial statements
related to the implementation of IFRS\u00a018. Regarding other new standards, amendments, and interpretations, the Group does
not currently anticipate any material impact.", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-461": { "value": "Summary of significant accounting
policies
a.Consolidation principles
In accordance with IFRS\u00a010 \u201cconsolidated financial
statements\u201d (\u201cIFRS\u00a010 \u201d), Technip Energies\u2019 consolidated
financial statements include the financial statements of
Technip\u00a0Energies\u00a0N.V. and subsidiaries controlled by
Technip\u00a0Energies (including structured entities).
Technip\u00a0Energies controls an entity where the Group has all
the following:
\u25a0 the power over the company subject to the investment;
\u25a0 an exposure or rights to the company\u2019s variable returns;
and
\u25a0 the ability to use its power over the entity to affect these
returns.
The power to direct the activities of the entity usually exists
when holding more than 50% of voting rights in the entity
and these rights are substantive.
As per IFRS\u00a011 \u201cJoint Arrangements\u201d (\u201cIFRS\u00a011\u201d), joint
arrangements could be classified as joint ventures or joint
operations. Joint operations should be recognized to the
extent of Technip\u00a0Energies\u2019 assets and liabilities, including its
share of any assets held jointly or liabilities incurred jointly.
The equity method is used for joint ventures and for
investments over which Technip\u00a0Energies exercises a
significant influence on operational and financial policies.
Unless otherwise indicated, such influence is deemed to exist
for investments in companies in which the Group\u2019s
ownership is between 20% and 50%.
Companies in which the Group\u2019s ownership is less than 20%
or which do not represent material investments are recorded
under \u201cOther non-current financial assets.\u201d
The list of Technip\u00a0Energies\u2019 related undertakings as of
December\u00a031, 2025, is provided in Note 31. Companies
included in the scope of the consolidated financial
statements.
The main affiliates of Technip\u00a0Energies close their accounts
as of December\u00a031, and all consolidated companies apply the
Group\u2019s accounting policies as set in the Group Accounting
Manual.
All intercompany balances and transactions, as well as
internal income and expenses, are fully eliminated.
Subsidiaries are consolidated as of the date of acquisition,
being the date on which Technip\u00a0Energies obtains control,
and continue to be consolidated until the date control
ceases
w.Current/non-current distinction
The distinction between current assets and liabilities, and
non-current assets and liabilities is based on the operating
cycle of contracts. If related to contracts, assets and
liabilities are classified as \u201ccurrent\u201d; if not related to
contracts, assets and liabilities are classified as \u201ccurrent\u201d if
their maturity is less than 12 months or \u201cnon-current\u201d if their
maturity exceeds 12 months.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-463": { "value": "
b.Recognition of revenue from customer
contracts
Technip\u00a0Energies accounts for revenue in accordance with
IFRS\u00a015 \u201cRevenues from Contracts with
Customers\u201d (\u201cIFRS\u00a015\u201d). Revenue is measured based on the
consideration specified in a contract with a customer. Most
of our revenue is from long-term contracts associated with
designing and manufacturing products and systems and
providing services to customers involved in exploration and
production of crude oil and natural gas. Technip\u00a0Energies
recognizes revenue when or as it transfers control over a
good or service to a customer.
Contract modifications \u2013 Contracts are often modified to
account for changes in contract specifications and
requirements. The Group considers contract modifications to
exist when the modification either creates new, or changes
the existing, enforceable rights and obligations. Most of the
Group\u2019s contract modifications are for goods or services that
are not distinct from the existing contract due to the
significant integration service provided in the context of the
contract and are accounted for as if they were part of that
existing contract. The effect of a contract modification on
the transaction price and our measure of progress for the
performance obligation to which it relates is recognized as an
adjustment to revenue (either as an increase in or a
reduction of revenue) on a cumulative catch-up basis.
Variable consideration \u2013 Due to the nature of the work
required to be performed on many existing performance
obligations, the estimation of total revenue and cost at
completion is complex, subject to many variables and
requires significant judgment. It is common for long-term
contracts to contain variable considerations that can either
increase or decrease the transaction price. Variability in the
transaction price arises primarily due to liquidated damages.
The Technip\u00a0Energies Group considers its experience with
similar transactions and expectations regarding the contract
in estimating the amount of variable consideration to which
it will be entitled and determining whether the estimated
variable consideration should be constrained. We include
estimated amounts in the transaction price to the extent it is
probable that a significant reversal of cumulative revenue
recognized will not occur when the uncertainty associated
with the variable consideration is resolved. The estimates of
variable consideration are based largely on an assessment of
anticipated performance and all information (historical,
current and forecasted) that is available to Technip\u00a0Energies.
Payment terms \u2013 Progress billings are generally issued upon
completion of certain phases of the work as stipulated in the
contract. Payment terms may either be fixed, lump-sum, or
driven by time and materials (i.e., daily or hourly rates, plus
materials). Because typically the customer retains a small
portion of the contract price until completion of the
contract, contracts generally result in revenue recognized in
excess of billings, which we present as contract assets on
the statement of financial position. Amounts billed and due
from customers are classified as receivables on the
statement of financial position. The portion of the payments
retained by the customer until final contract settlement is
not considered a significant financing component because
the intent is to protect the customer. For some contracts,
the Group may be entitled to receive advance payment.
Technip\u00a0Energies recognizes a liability for these advance
payments in excess of revenue recognized and presents
them as contract liabilities on the statement of financial
position. The advance payment typically is not considered a
significant financing component because it is used to meet
working capital demands that can be higher in the early
stages of a contract and to protect us from the other party
failing to adequately complete some or all of its obligations
under the contract.
Warranty \u2013 Certain contracts include an assurance-type
warranty clause, typically between 18 and 36 months, to
guarantee that the products comply with agreed
specifications. A service-type warranty may also be provided
to the customer; in such a case, management allocates a
portion of the transaction price to the warranty as a separate
performance obligation based on the estimated standalone
selling price of the service-type warranty.
Allocation of transaction price to performance obligations \u2013
A contract\u2019s transaction price is allocated to each distinct
performance obligation and recognized as revenue, when, or
as, the performance obligation is satisfied. To determine the
proper revenue recognition method, the Group evaluates
whether two or more contracts should be combined and
accounted for as one single contract and whether the
combined or single contract should be accounted for as
more than one performance obligation. This evaluation
requires significant judgment; some of the Group\u2019s contracts
have a single performance obligation as the promise to
transfer the individual goods or services is not separately
identifiable from other promises in the contracts and,
therefore, not distinct. For contracts with multiple
performance obligations, Technip\u00a0Energies allocates the
contract\u2019s transaction price to each performance obligation
using its best estimate of the standalone selling price of
each distinct good or service in the contract.
Cost-to-cost method \u2013 For long-term contracts, because of
control transferring over time, revenue is recognized based
on the extent of progress toward completion of the
performance obligation. The cost-to-cost measure of
progress for contracts is generally used because it best
depicts the transfer of control to the customer, which occurs
as costs on the contracts are incurred. Under the cost-to-
cost measure of progress, the extent of progress toward
completion is measured based on the ratio of costs incurred
to date to the total estimated costs at completion of the
performance obligation. Revenues, including estimated fees
or profits, are recorded proportionally as costs are incurred.
Any expected losses on contracts in progress are charged to
earnings, in total, in the period the losses are identified.
Right-to-invoice practical expedient \u2013 The right-to-invoice
practical expedient can be applied to a performance
obligation satisfied over time if we have a right to invoice the
customer for an amount that corresponds directly to the
value transferred to the customer for performance
completed to date. When this practical expedient is used,
variable consideration is not estimated at the inception of
the contract to determine the transaction price or for
disclosure purposes. Certain contracts have payment terms
dictated by daily or hourly rates while other contracts may
have mixed pricing terms that include a fixed fee portion. For
contracts in which the customer is charged a fixed rate
based on the time or materials used during the project that
correspond to the value transferred to the customer, the
Technip\u00a0Energies Group recognizes revenue in the amount it
has the right to invoice.
Significant financing component \u2013 certain contracts could
include a period between the transfer of the promised goods
or services to the customer and the payment received from
the customer. If this period exceeds one year, the time value
is assessed, and the transaction price could be adjusted if
the identified financing component is considered significant.
Contract balances \u2013 The timing of revenue recognition,
billings, and cash collections results in billed accounts
receivable, revenues in excess of billings on uncompleted
contracts (contract assets), and billings in excess of revenues
on uncompleted contracts (contract liabilities) on the
consolidated statement of financial position.
Contract assets \u2013 Contract assets include unbilled amounts
typically resulting from sales under long-term contracts
when revenue is recognized over time and revenue
recognized exceeds the amount billed to a customer, and
right to payment is not just subject to the passage of time.
Amounts may not exceed their net realizable value. Contract
assets are generally classified as current.
Contract liabilities \u2013 The Group often receives advances or
deposits from its customers before revenue is recognized,
resulting in contract liabilities. Refund liabilities are
categorized under contract liabilities.
Note 4.Revenue
4.1.Principal revenue-generating activities
As one of the largest E&T groups by revenue,
Technip\u00a0Energies Group offers what it characterizes as a full
range of design and project development services to its
customers spanning the downstream value chain, from early-
engagement technical consulting through final acceptance
testing.
The Group\u2019s offering to its clients consists of Project Delivery
and Technology, Products & Services. Technip\u00a0Energies Group
business focuses on the study, engineering, procurement,
construction, and project management of the entire range of
onshore and offshore facilities related to gas monetization,
refining, and chemical processing from biofuels and
hydrocarbons.
The majority of the Technip\u00a0Energies Group\u2019 revenue is from
long-term contracts associated with designing and
manufacturing products and systems and providing services
to customers involved in the energy sector.
Many of these contracts provide a combination of
engineering, procurement, construction, project management,
and installation services, which may last several years.
Management has determined that contracts of this nature
generally have one performance obligation. In these
contracts, the final product is highly customized to the
specifications of the field and the customers\u2019 requirements.
Therefore, the customer obtains control of the asset over
time, and thus revenue is recognized over time.
These customized products do not have an alternative use
for the Technip\u00a0Energies Group . The Group has an
enforceable right to payment plus reasonable profit for
performance completed to date.
4.2.Disaggregation of revenue
The Technip\u00a0Energies Group disaggregates revenue from external customers as follows:
December\u00a031, 2025
December\u00a031, 2024
(In millions of \u20ac)
Project
Delivery
Technology,
Products &
Services
TOTAL
Project
Delivery
Technology,
Products &
Services
TOTAL
Europe & Central Asia
312.1
762.7
1,074.7
283.0
848.0
1,131.0
Africa & Middle East
3,821.9
420.7
4,242.6
3,629.4
359.8
3,989.2
Asia Pacific
239.9
319.5
559.4
371.4
359.5
730.8
Americas
1,032.8
294.3
1,327.1
457.8
409.9
867.8
TOTAL REVENUE
5,406.6
1,797.2
7,203.8
4,741.6
1,977.3
6,718.9
For more information about concentration risks, please refer to section\u00a04. Risk and Risk management of this Annual Report.
4.3.Contract balances
The following table provides information about net contract assets and liabilities as of December\u00a031, 2025, and 2024:
(In millions of \u20ac)
December\u00a031, 2025
December\u00a031, 2024
Change
% change
Contract assets
381.2
481.3
(100.1)
(21%)
Contract liabilities
3,738.0
3,358.4
379.6
11%
NET LIABILITIES
3,356.8
2,877.1
479.7
17%
To determine revenue recognized in the period from contract
liabilities, the Group allocates revenue to the individual
contract liability balance outstanding at the beginning of the
period until the revenue exceeds that balance. Revenue
recognized for the years ended December\u00a031, 2025, and 2024
that was included in the contract liabilities balance on
December\u00a031, 2024, and 2023 was \u20ac 2,680.9\u00a0million and
\u20ac2,049.5\u00a0million, respectively.
Revenue recognized for the years ended December\u00a031, 2025 ,
and 2024 from the Technip\u00a0Energies Group\u2019s performance
obligations satisfied in previous periods had an impact of
\u20ac(20.1)\u00a0million and \u20ac15.6\u00a0million, respectively. This primarily
relates to changes in the estimate of the stage of
completion.
4.4.Transaction price allocated to the remaining unsatisfied performance obligations
Remaining unsatisfied performance obligations (\u201cbacklog\u201d)
represent the transaction price for products and services for
which we have an enforceable right, but work has not been
performed. The transaction price of the backlog includes the
base transaction price, variable consideration, and changes in
transaction price. The backlog table does not include
contracts for which we recognize revenue at the amount to
which we have the right to invoice for services performed.
The transaction price of the backlog related to unfilled,
confirmed customer orders is estimated at each reporting
date. As of December\u00a031, 2025, and 2024 , the aggregate
amount of the transaction price allocated to backlog was
\u20ac16,026.2\u00a0million and \u20ac19,708.3\u00a0million, respectively.
The following table details the backlog as of December\u00a031, 2025:
(In millions)
December 31,
2026
December 31,
2027
December 31,
2028+
Total remaining unsatisfied performance obligations
7,145.7
5,274.0
3,606.5
The following table details the backlog as of December\u00a031, 2024:
(In millions)
December 31,
2025
December 31,
2026
December 31,
2027+
Total remaining unsatisfied performance obligations
6,349.9
5,652.6
7,705.7
", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-462": { "value": "
b.Recognition of revenue from customer
contracts
Technip\u00a0Energies accounts for revenue in accordance with
IFRS\u00a015 \u201cRevenues from Contracts with
Customers\u201d (\u201cIFRS\u00a015\u201d). Revenue is measured based on the
consideration specified in a contract with a customer. Most
of our revenue is from long-term contracts associated with
designing and manufacturing products and systems and
providing services to customers involved in exploration and
production of crude oil and natural gas. Technip\u00a0Energies
recognizes revenue when or as it transfers control over a
good or service to a customer.
Contract modifications \u2013 Contracts are often modified to
account for changes in contract specifications and
requirements. The Group considers contract modifications to
exist when the modification either creates new, or changes
the existing, enforceable rights and obligations. Most of the
Group\u2019s contract modifications are for goods or services that
are not distinct from the existing contract due to the
significant integration service provided in the context of the
contract and are accounted for as if they were part of that
existing contract. The effect of a contract modification on
the transaction price and our measure of progress for the
performance obligation to which it relates is recognized as an
adjustment to revenue (either as an increase in or a
reduction of revenue) on a cumulative catch-up basis.
Variable consideration \u2013 Due to the nature of the work
required to be performed on many existing performance
obligations, the estimation of total revenue and cost at
completion is complex, subject to many variables and
requires significant judgment. It is common for long-term
contracts to contain variable considerations that can either
increase or decrease the transaction price. Variability in the
transaction price arises primarily due to liquidated damages.
The Technip\u00a0Energies Group considers its experience with
similar transactions and expectations regarding the contract
in estimating the amount of variable consideration to which
it will be entitled and determining whether the estimated
variable consideration should be constrained. We include
estimated amounts in the transaction price to the extent it is
probable that a significant reversal of cumulative revenue
recognized will not occur when the uncertainty associated
with the variable consideration is resolved. The estimates of
variable consideration are based largely on an assessment of
anticipated performance and all information (historical,
current and forecasted) that is available to Technip\u00a0Energies.
Payment terms \u2013 Progress billings are generally issued upon
completion of certain phases of the work as stipulated in the
contract. Payment terms may either be fixed, lump-sum, or
driven by time and materials (i.e., daily or hourly rates, plus
materials). Because typically the customer retains a small
portion of the contract price until completion of the
contract, contracts generally result in revenue recognized in
excess of billings, which we present as contract assets on
the statement of financial position. Amounts billed and due
from customers are classified as receivables on the
statement of financial position. The portion of the payments
retained by the customer until final contract settlement is
not considered a significant financing component because
the intent is to protect the customer. For some contracts,
the Group may be entitled to receive advance payment.
Technip\u00a0Energies recognizes a liability for these advance
payments in excess of revenue recognized and presents
them as contract liabilities on the statement of financial
position. The advance payment typically is not considered a
significant financing component because it is used to meet
working capital demands that can be higher in the early
stages of a contract and to protect us from the other party
failing to adequately complete some or all of its obligations
under the contract.
Warranty \u2013 Certain contracts include an assurance-type
warranty clause, typically between 18 and 36 months, to
guarantee that the products comply with agreed
specifications. A service-type warranty may also be provided
to the customer; in such a case, management allocates a
portion of the transaction price to the warranty as a separate
performance obligation based on the estimated standalone
selling price of the service-type warranty.
Allocation of transaction price to performance obligations \u2013
A contract\u2019s transaction price is allocated to each distinct
performance obligation and recognized as revenue, when, or
as, the performance obligation is satisfied. To determine the
proper revenue recognition method, the Group evaluates
whether two or more contracts should be combined and
accounted for as one single contract and whether the
combined or single contract should be accounted for as
more than one performance obligation. This evaluation
requires significant judgment; some of the Group\u2019s contracts
have a single performance obligation as the promise to
transfer the individual goods or services is not separately
identifiable from other promises in the contracts and,
therefore, not distinct. For contracts with multiple
performance obligations, Technip\u00a0Energies allocates the
contract\u2019s transaction price to each performance obligation
using its best estimate of the standalone selling price of
each distinct good or service in the contract.
Cost-to-cost method \u2013 For long-term contracts, because of
control transferring over time, revenue is recognized based
on the extent of progress toward completion of the
performance obligation. The cost-to-cost measure of
progress for contracts is generally used because it best
depicts the transfer of control to the customer, which occurs
as costs on the contracts are incurred. Under the cost-to-
cost measure of progress, the extent of progress toward
completion is measured based on the ratio of costs incurred
to date to the total estimated costs at completion of the
performance obligation. Revenues, including estimated fees
or profits, are recorded proportionally as costs are incurred.
Any expected losses on contracts in progress are charged to
earnings, in total, in the period the losses are identified.
Right-to-invoice practical expedient \u2013 The right-to-invoice
practical expedient can be applied to a performance
obligation satisfied over time if we have a right to invoice the
customer for an amount that corresponds directly to the
value transferred to the customer for performance
completed to date. When this practical expedient is used,
variable consideration is not estimated at the inception of
the contract to determine the transaction price or for
disclosure purposes. Certain contracts have payment terms
dictated by daily or hourly rates while other contracts may
have mixed pricing terms that include a fixed fee portion. For
contracts in which the customer is charged a fixed rate
based on the time or materials used during the project that
correspond to the value transferred to the customer, the
Technip\u00a0Energies Group recognizes revenue in the amount it
has the right to invoice.
Significant financing component \u2013 certain contracts could
include a period between the transfer of the promised goods
or services to the customer and the payment received from
the customer. If this period exceeds one year, the time value
is assessed, and the transaction price could be adjusted if
the identified financing component is considered significant.
Contract balances \u2013 The timing of revenue recognition,
billings, and cash collections results in billed accounts
receivable, revenues in excess of billings on uncompleted
contracts (contract assets), and billings in excess of revenues
on uncompleted contracts (contract liabilities) on the
consolidated statement of financial position.
Contract assets \u2013 Contract assets include unbilled amounts
typically resulting from sales under long-term contracts
when revenue is recognized over time and revenue
recognized exceeds the amount billed to a customer, and
right to payment is not just subject to the passage of time.
Amounts may not exceed their net realizable value. Contract
assets are generally classified as current.
Contract liabilities \u2013 The Group often receives advances or
deposits from its customers before revenue is recognized,
resulting in contract liabilities. Refund liabilities are
categorized under contract liabilities.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-466": { "value": "
c.Foreign currency transactions
The items of each of the Group\u2019s subsidiaries included in
these consolidated financial statements are measured using
the currency of the main economic environment in which the
entity operates, which mainly affects revenue and expenses
(\u201cfunctional currency\u201d). The consolidated financial
statements are presented in euros, which is
Technip\u00a0Energies\u00a0N.V.\u2019s functional currency.
Foreign currency transactions are translated into the
functional currency at the exchange rate applicable on the
transaction date.
At the closing date, monetary assets and liabilities stated in
foreign currencies are translated into the functional currency
at the exchange rate prevailing on that date. Resulting
exchange gains or losses are directly recorded in the
statement of income (for further details, refer to Note 6.
Other operating income (expense), net,) except exchange
gains or losses on cash accounts eligible for future cash flow
hedging and for hedging on net foreign currency investments.
Translation of financial statements of subsidiaries into
foreign currency \u2013 The statements of income of foreign
subsidiaries are translated into euro at the average exchange
rate prevailing during the year. The statements of financial
position are translated at the exchange rate at the closing
date. Differences arising in the translation of financial
statements of foreign subsidiaries are recorded in other
comprehensive income (loss) as foreign currency translation
reserve. Items that are recognized directly in equity
are\u00a0translated using historical rates. The functional currency
of the foreign subsidiaries is most commonly the
local\u00a0currencyForeign currency exchange rate risk
Technip\u00a0Energies conducts operations around the world in
several different currencies. Many of the Technip\u00a0Energies
Group\u2019s significant foreign subsidiaries have designated the
local currency as their functional currency. Earnings are
therefore subject to change due to fluctuations in foreign
currency exchange rates when the earnings in foreign
currencies are translated into euro. The Technip\u00a0Energies
Group does not hedge this translation impact on earnings. A
10% increase or decrease in the average exchange rates of all
foreign currencies as of December\u00a031, 2025, would have
changed the Technip\u00a0Energies Group\u2019s revenue and profit
(loss) before income taxes attributable to the
Technip\u00a0Energies Group by approximately \u20ac294.7\u00a0million and
\u20ac6.2\u00a0million, respectively. A 10% increase or decrease in the
average exchange rates of all foreign currencies as of
December\u00a031, 2024, would have changed the
Technip\u00a0Energies Group\u2019s revenue and profit (loss) before
income taxes attributable to the Technip\u00a0Energies Group by
approximately \u20ac294.1\u00a0million and \u20ac2.5\u00a0million, respectively.
When transactions are denominated in currencies other than
the respective functional currencies of the applicable
subsidiaries of the Technip\u00a0Energies Group, the Group
manages these exposures through derivative instruments.
The Group primarily uses foreign currency forward contracts
to hedge the foreign currency fluctuations associated with
firmly committed and forecasted foreign currency
denominated payments and receipts. The derivative
instruments associated with these anticipated transactions
are usually designated and qualify as cash flow hedges, and
as such the gains and losses associated with these
instruments are recorded in other comprehensive income
until such time that the underlying transactions are
recognized. Unless these cash flow contracts are deemed to
be ineffective or are not designated as cash flow hedges at
inception, changes in the derivative fair value will not have an
immediate impact on the results of operations since the
gains and losses associated with these instruments are
recorded in other comprehensive income. When the
anticipated transactions occur, these changes in value of
derivative instrument positions will be offset against changes
in the value of the underlying transaction. When an
anticipated transaction in a currency other than the
functional currency of an entity is recognized as an asset or
liability on the statement of financial position, we also hedge
the foreign currency fluctuation of these assets and liabilities
with derivative instruments after netting the
Technip\u00a0Energies Group\u2019s exposures worldwide. These
derivative instruments do not qualify as cash flow hedges.
Occasionally, the Technip\u00a0Energies Group enters into
contracts or other arrangements containing terms and
conditions that qualify as embedded derivative instruments
and are subject to fluctuations in foreign exchange rates. In
those situations, the Technip\u00a0Energies Group enters
derivative foreign exchange contracts that hedge the price or
cost fluctuations due to movements in the foreign exchange
rates. These derivative instruments are not designated as
cash flow hedges.
For foreign currency forward contracts hedging anticipated
transactions, a 10% increase in the value of the Euro on
December\u00a031, 2025, would have changed negatively the net
fair value reflected in the consolidated statement of financial
position by \u20ac80.2\u00a0million.
For certain committed and anticipated future cash flows and
recognized assets and liabilities that are denominated in a
foreign currency, the Technip\u00a0Energies Group may choose to
manage risk against changes in the exchange rates, when
compared against the functional currency, through the
economic netting of exposures instead of derivative
instruments. Cash outflows or liabilities in a foreign currency
are matched against cash inflows or assets in the same
currency such that movements in exchange rates will result
in offsetting gains or losses. Due to the inherent
unpredictability of the timing of cash flows, gains and losses
in the current period may be economically offset by gains
and losses in a future period. All gains and losses are
recorded in the consolidated statement of income in the
period in which they are incurred. Gains and losses from the
remeasurement of assets and liabilities are recognized in
other income (expense), net.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-465": { "value": "
c.Foreign currency transactions
The items of each of the Group\u2019s subsidiaries included in
these consolidated financial statements are measured using
the currency of the main economic environment in which the
entity operates, which mainly affects revenue and expenses
(\u201cfunctional currency\u201d). The consolidated financial
statements are presented in euros, which is
Technip\u00a0Energies\u00a0N.V.\u2019s functional currency.
Foreign currency transactions are translated into the
functional currency at the exchange rate applicable on the
transaction date.
At the closing date, monetary assets and liabilities stated in
foreign currencies are translated into the functional currency
at the exchange rate prevailing on that date. Resulting
exchange gains or losses are directly recorded in the
statement of income (for further details, refer to Note 6.
Other operating income (expense), net,) except exchange
gains or losses on cash accounts eligible for future cash flow
hedging and for hedging on net foreign currency investments.
Translation of financial statements of subsidiaries into
foreign currency \u2013 The statements of income of foreign
subsidiaries are translated into euro at the average exchange
rate prevailing during the year. The statements of financial
position are translated at the exchange rate at the closing
date. Differences arising in the translation of financial
statements of foreign subsidiaries are recorded in other
comprehensive income (loss) as foreign currency translation
reserve. Items that are recognized directly in equity
are\u00a0translated using historical rates. The functional currency
of the foreign subsidiaries is most commonly the
local\u00a0currency", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-464": { "value": "
c.Foreign currency transactions
The items of each of the Group\u2019s subsidiaries included in
these consolidated financial statements are measured using
the currency of the main economic environment in which the
entity operates, which mainly affects revenue and expenses
(\u201cfunctional currency\u201d). The consolidated financial
statements are presented in euros, which is
Technip\u00a0Energies\u00a0N.V.\u2019s functional currency.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-469": { "value": "
d.Business combinations
Business combinations are accounted for using the
acquisition method of accounting. Under the acquisition
method, assets acquired and liabilities assumed are recorded
at their respective fair values as of the acquisition date.
Determining the fair value of assets and liabilities involves
significant judgment regarding methods and assumptions
used to calculate estimated fair values. The purchase price is
allocated to the assets acquired, including identifiable
intangible assets, and liabilities based on their estimated fair
values. Any excess of the purchase price over the estimated
fair value of the net assets acquired is recorded as goodwill.
Identifiable assets are depreciated over their estimated
useful lives.
Acquisition-related costs are expensed as incurred and
included in the statement of income line item \u201cSelling,
general and administrative expenses\u201d.
Adjustments recorded for a business combination on the
provisional values of assets, liabilities and contingent
liabilities are recognized as a retrospective change in goodwill
when occurring within a 12-month period after the
acquisition date and resulting from facts or circumstances
that existed as of the acquisition date. After this
measurement period ends, any change in valuation of assets,
liabilities, and contingent liabilities is accounted for in the
statement of income, with no impact on goodwill.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-468": { "value": "
d.Business combinations
Business combinations are accounted for using the
acquisition method of accounting. Under the acquisition
method, assets acquired and liabilities assumed are recorded
at their respective fair values as of the acquisition date.
Determining the fair value of assets and liabilities involves
significant judgment regarding methods and assumptions
used to calculate estimated fair values. The purchase price is
allocated to the assets acquired, including identifiable
intangible assets, and liabilities based on their estimated fair
values. Any excess of the purchase price over the estimated
fair value of the net assets acquired is recorded as goodwill.
Identifiable assets are depreciated over their estimated
useful lives.
Acquisition-related costs are expensed as incurred and
included in the statement of income line item \u201cSelling,
general and administrative expenses\u201d.
Adjustments recorded for a business combination on the
provisional values of assets, liabilities and contingent
liabilities are recognized as a retrospective change in goodwill
when occurring within a 12-month period after the
acquisition date and resulting from facts or circumstances
that existed as of the acquisition date. After this
measurement period ends, any change in valuation of assets,
liabilities, and contingent liabilities is accounted for in the
statement of income, with no impact on goodwill.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-467": { "value": "
d.Business combinations
Business combinations are accounted for using the
acquisition method of accounting. Under the acquisition
method, assets acquired and liabilities assumed are recorded
at their respective fair values as of the acquisition date.
Determining the fair value of assets and liabilities involves
significant judgment regarding methods and assumptions
used to calculate estimated fair values. The purchase price is
allocated to the assets acquired, including identifiable
intangible assets, and liabilities based on their estimated fair
values. Any excess of the purchase price over the estimated
fair value of the net assets acquired is recorded as goodwill.
Identifiable assets are depreciated over their estimated
useful lives.
Acquisition-related costs are expensed as incurred and
included in the statement of income line item \u201cSelling,
general and administrative expenses\u201d.
Adjustments recorded for a business combination on the
provisional values of assets, liabilities and contingent
liabilities are recognized as a retrospective change in goodwill
when occurring within a 12-month period after the
acquisition date and resulting from facts or circumstances
that existed as of the acquisition date. After this
measurement period ends, any change in valuation of assets,
liabilities, and contingent liabilities is accounted for in the
statement of income, with no impact on goodwill.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-471": { "value": "
e.Segment information
Information by operating segments
IFRS\u00a08 \u2013 Operating Segments requires operating segments to
be determined based on information which is provided
internally to the Chief Operating Decision Maker (\u201cCODM\u201d).
In the periods presented here, the Chief Executive Officer
reviewed and evaluated the Technip\u00a0Energies Group
operating performance to make decisions about resources to
be allocated and has been identified as the CODM. The
Technip\u00a0Energies Group operating segments are designated
as Technology, Products & Services and Project Delivery.
The corresponding definitions are disclosed as follows:
\u25a0 Project Delivery: the Project Delivery segment provides
comprehensive engineering, procurement and construction
delivery capabilities globally. The Company\u2019s key
capabilities leverage its operational and technical
excellence as a global provider of engineering,
procurement and construction (\u201cEPC\u201d) services for
onshore oil and gas; liquid natural gas (\u201cLNG\u201d) and gas to
liquids (\u201cGTL\u201d), oil refining, ethylene, petrochemicals,
chemicals, fertilizers, offshore oil and gas (shallow-water,
deep-water) with floating solutions (floating production
units (\u201cFPUs\u201d), floating production storage and offloading
(\u201cFPSO\u201d), floating liquefied natural gas (\u201cFLNG\u201d) and
floating storage and regasification unit (\u201cFSRU\u201d). EPC
contracts are undertaken under various contractual
schemes and include fixed lump-sum, reimbursable and
hybrid contracting models based on selectivity and risk
assessment work carried out by Technip\u00a0Energies\u2019 teams
during the early engagement phases.
\u25a0 Technology, Products & Services: the activities within the
Company\u2019s Technology, Products & Services businesses
are more versatile, combining proprietary technologies
with associated licensing fees and equipment such as LNG
Loading Arms and associated knowledge-based services
into a global business for ethylene, refining,
petrochemicals, inorganic and specialty chemicals, as well
as gas monetization. From technology definition, early
engagement through scope definition, advanced
technologies and project life cycle support,
Technip\u00a0Energies works closely with customers to provide
the optimal approach to maximize their return on
investment. Consulting and services may be provided
under the Company\u2019s specialist consulting brand, Genesis,
or through the Group\u2019s project management consulting or
engineering services businesses.
\u25a0 Corporate/non-allocable: corresponds to the unallocated
items in the two segments above.
Disaggregation of revenue
The Technip\u00a0Energies Group disaggregates its revenue by the
following geographic regions:
\u25a0 Europe & Central Asia;
\u25a0 Africa & Middle East;
\u25a0 Asia Pacific; and
\u25a0 Americas.
The geographical breakdown is based on the contract
delivery within a specific country. Geographical areas are
defined considering risks associated with activities
performed in a given area, economic framework or monetary
risks.
Note 3.Segment information
In the periods presented here, the Chief Executive Officer reviewed and evaluated the Technip\u00a0Energies Group\u2019 operating
performance to make decisions about resources to be allocated and has been identified as the Chief Operating Decision Maker.
The Technip\u00a0Energies Group has defined two operating segments designated as Project Delivery and Technology, Products &
Services . The assessment of the operating segments\u2019 performance is based on the Group\u2019s EBIT.
The statement of income information by segment is shown below:
December\u00a031, 2025
(In millions of \u20ac)
Project Delivery
Technology,
Products &
Services
Corporate/non-
allocable
Total
Revenue
5,406.6
1,797.2
\u2014
7,203.8
Cost of Sales
(4,868.5)
(1,371.1)
\u2014
(6,239.6)
EBIT (Profit before financial result and tax)
348.0
168.1
(82.1)
434.1
December\u00a031, 2024
(In millions of \u20ac)
Project Delivery
Technology,
Products &
Services
Corporate/non-
allocable
Total
Revenue
4,741.6
1,977.3
\u2014
6,718.9
Cost of Sales
(4,224.4)
(1,575.5)
(0.9)
(5,800.8)
EBIT (Profit before financial result and tax)
350.0
178.4
(60.3)
468.1
During the year ended December\u00a031, 2025, revenue from
North Field East (NFE) and North Field South (NFS) projects
exceeded 10% of Technip\u00a0Energies\u2019 consolidated revenue.
These two projects are contributing to the Project Delivery
operating segment. During the year ended December\u00a031,
2024, revenue from North Field East (NFE) project exceeded
10% of Technip\u00a0Energies\u2019 consolidated revenue.
The statement of financial position information by segment is shown below:
December\u00a031, 2025
(In millions of \u20ac)
Project Delivery
Technology,
Products &
Services
Corporate/non-
allocable
Total
TOTAL ASSETS
3,382.9
1,615.7
4,803.3
9,801.9
December\u00a031, 2024
(In millions of \u20ac)
Project Delivery
Technology,
Products &
Services
Corporate/non-
allocable
Total
TOTAL ASSETS
3,115.7
1,834.5
4,290.6
9,240.8
", "dimensions": { "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-470": { "value": "
e.Segment information
Information by operating segments
IFRS\u00a08 \u2013 Operating Segments requires operating segments to
be determined based on information which is provided
internally to the Chief Operating Decision Maker (\u201cCODM\u201d).
In the periods presented here, the Chief Executive Officer
reviewed and evaluated the Technip\u00a0Energies Group
operating performance to make decisions about resources to
be allocated and has been identified as the CODM. The
Technip\u00a0Energies Group operating segments are designated
as Technology, Products & Services and Project Delivery.
The corresponding definitions are disclosed as follows:
\u25a0 Project Delivery: the Project Delivery segment provides
comprehensive engineering, procurement and construction
delivery capabilities globally. The Company\u2019s key
capabilities leverage its operational and technical
excellence as a global provider of engineering,
procurement and construction (\u201cEPC\u201d) services for
onshore oil and gas; liquid natural gas (\u201cLNG\u201d) and gas to
liquids (\u201cGTL\u201d), oil refining, ethylene, petrochemicals,
chemicals, fertilizers, offshore oil and gas (shallow-water,
deep-water) with floating solutions (floating production
units (\u201cFPUs\u201d), floating production storage and offloading
(\u201cFPSO\u201d), floating liquefied natural gas (\u201cFLNG\u201d) and
floating storage and regasification unit (\u201cFSRU\u201d). EPC
contracts are undertaken under various contractual
schemes and include fixed lump-sum, reimbursable and
hybrid contracting models based on selectivity and risk
assessment work carried out by Technip\u00a0Energies\u2019 teams
during the early engagement phases.
\u25a0 Technology, Products & Services: the activities within the
Company\u2019s Technology, Products & Services businesses
are more versatile, combining proprietary technologies
with associated licensing fees and equipment such as LNG
Loading Arms and associated knowledge-based services
into a global business for ethylene, refining,
petrochemicals, inorganic and specialty chemicals, as well
as gas monetization. From technology definition, early
engagement through scope definition, advanced
technologies and project life cycle support,
Technip\u00a0Energies works closely with customers to provide
the optimal approach to maximize their return on
investment. Consulting and services may be provided
under the Company\u2019s specialist consulting brand, Genesis,
or through the Group\u2019s project management consulting or
engineering services businesses.
\u25a0 Corporate/non-allocable: corresponds to the unallocated
items in the two segments above.
Disaggregation of revenue
The Technip\u00a0Energies Group disaggregates its revenue by the
following geographic regions:
\u25a0 Europe & Central Asia;
\u25a0 Africa & Middle East;
\u25a0 Asia Pacific; and
\u25a0 Americas.
The geographical breakdown is based on the contract
delivery within a specific country. Geographical areas are
defined considering risks associated with activities
performed in a given area, economic framework or monetary
risks.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-473": { "value": ".Earnings per share
As per IAS\u00a033 \u201cEarnings per Share\u201d (\u201cIAS\u00a033\u201d), Earnings Per
Share (\u201cEPS\u201d) are based on the average number of
outstanding shares over the year, after deducting treasury
shares.
Diluted earnings per share amounts are calculated by dividing
the net profit of the year attributable to Technip\u00a0Energies,
restated if need be for the after-tax financial cost of dilutive
financial instruments, by the sum of the weighted average
number of outstanding shares, the weighted average number
of share subscription options not yet exercised, the weighted
average number of performance shares granted calculated
using the share purchase method, and, if applicable, the
effects of any other dilutive instrument.
In accordance with the share purchase method, only dilutive
instruments are used in calculating EPS. Dilutive instruments
are those for which the option exercise price plus the future
share-based compensation expense not yet recognized
is\u00a0lower than the average share price during the EPS
calculation\u00a0period.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-472": { "value": ".Earnings per share
As per IAS\u00a033 \u201cEarnings per Share\u201d (\u201cIAS\u00a033\u201d), Earnings Per
Share (\u201cEPS\u201d) are based on the average number of
outstanding shares over the year, after deducting treasury
shares.
Diluted earnings per share amounts are calculated by dividing
the net profit of the year attributable to Technip\u00a0Energies,
restated if need be for the after-tax financial cost of dilutive
financial instruments, by the sum of the weighted average
number of outstanding shares, the weighted average number
of share subscription options not yet exercised, the weighted
average number of performance shares granted calculated
using the share purchase method, and, if applicable, the
effects of any other dilutive instrument.
In accordance with the share purchase method, only dilutive
instruments are used in calculating EPS. Dilutive instruments
are those for which the option exercise price plus the future
share-based compensation expense not yet recognized
is\u00a0lower than the average share price during the EPS
calculation\u00a0period.
Note 7.Earnings per share
Diluted earnings per share are determined in accordance
with the accounting principles described in Note 1.
Accounting principles .
Reconciliation between earnings per share before dilution
and diluted earnings per share is as follows:
(In millions of \u20ac, except per share data)
December\u00a031,
2025
December\u00a031,
2024
Net profit (loss) attributable to Technip Energies
363.8
390.7
Weighted average number of ordinary shares outstanding
176,020,928
176,539,283
Effect of dilutive instruments
2,499,149
3,900,831
WEIGHTED AVERAGE NUMBER OF DILUTED SHARES OUTSTANDING
178,520,077
180,440,114
EARNINGS (LOSS) PER SHARE ATTRIBUTABLE TO TECHNIP ENERGIES
Basic earnings (loss) per share attributable to Technip Energies
\u20ac2.07
\u20ac2.21
Diluted earnings (loss) per share attributable to Technip Energies
\u20ac2.04
\u20ac2.17
Diluted earnings (loss) per share is determined by dividing
net profit (loss) attributable to Technip\u00a0Energies by the
combination of the weighted average number of ordinary
shares outstanding during the period and the dilutive effect
of performance shares.
Stock options which are \u201cout of the money\u201d are not dilutive.
In 2025, the average annual share price amounted to \u20ac 33.69
and the closing price to \u20ac32.48.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-476": { "value": ".Goodwill
Goodwill is measured at the acquisition date as the total of
the fair value of consideration transferred, plus the
proportionate amount of any non-controlling interest, plus
the fair value of any previously held equity interest in the
acquiree, if any, less the net recognized amount (generally at
fair value) of the identifiable assets acquired and liabilities
assumed.
Goodwill is allocated to cash-generating units that are
expected to benefit from the business combination in which
the goodwill arose and in all cases is at the operating
segment level, which represents the lowest level at which
goodwill is monitored for internal management purposes.
Goodwill is not amortized but it is tested for impairment
annually, or more frequently if events or changes in
circumstances indicate that it might be impaired, and is
carried at cost less accumulated impairment losses. Gains
and losses on the disposal of an entity include the carrying
amount of goodwill relating to the entity sold.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-475": { "value": ".Goodwill
Goodwill is measured at the acquisition date as the total of
the fair value of consideration transferred, plus the
proportionate amount of any non-controlling interest, plus
the fair value of any previously held equity interest in the
acquiree, if any, less the net recognized amount (generally at
fair value) of the identifiable assets acquired and liabilities
assumed.
Goodwill is allocated to cash-generating units that are
expected to benefit from the business combination in which
the goodwill arose and in all cases is at the operating
segment level, which represents the lowest level at which
goodwill is monitored for internal management purposes.
Goodwill is not amortized but it is tested for impairment
annually, or more frequently if events or changes in
circumstances indicate that it might be impaired, and is
carried at cost less accumulated impairment losses. Gains
and losses on the disposal of an entity include the carrying
amount of goodwill relating to the entity sold.
The goodwill and intangible assets\u2019 costs and accumulated amortization are presented in the following table:
(In millions of \u20ac)
Goodwill
Licenses,
patents and
trademarks
Software
Other
Total
Net book value as of December 31, 2023
2,093.3
46.1
34.2
43.0
2,216.6
Costs
2,118.0
87.6
140.8
98.9
2,445.3
Accumulated amortization
\u2014
(42.6)
(106.0)
(24.6)
(173.2)
Accumulated impairment
\u2014
(1.3)
(7.5)
\u2014
(8.8)
NET BOOK VALUE AS OF DECEMBER 31, 2024
2,118.0
43.7
27.3
74.3
2,263.3
Costs
2,241.3
103.6
136.9
124.5
2,606.4
Accumulated amortization
\u2014
(41.4)
(103.9)
(28.2)
(173.5)
Accumulated impairment
\u2014
(1.3)
(3.6)
(2.2)
(7.1)
NET BOOK VALUE AS OF DECEMBER 31, 2025
2,241.3
60.9
29.4
94.2
2,425.8
Goodwill includes \u20ac1,453.6\u00a0million that was allocated to the
TechnipFMC Onshore/Offshore operating segment on the
merger date. It was the direct result of the merger between
FMC Technologies and Technip in January\u00a02017. Because
goodwill attributed to the carve-out entity using the parent\u2019s
basis is acquisition-specific, it may include synergistic
goodwill that the parent entity previously assigned to its
other CGUs or GCGUs that were expected to benefit from the
synergies of the business combination. Accordingly, because
the Onshore/Offshore operating segment has been carved
out and included in the combined financial statements of the
Technip\u00a0Energies Group, management determined that it was
most appropriate to include the associated Onshore/Offshore
operating segment\u2019s goodwill with the Technip\u00a0Energies
Group .
14.1.Goodwill and intangible assets, net
The changes in goodwill and intangible assets are presented in the following table:
(In millions of \u20ac)
Goodwill
Licenses,
patents and
trademarks
Software
Other
Total
Net book value as of December 31, 2023
2,093.3
46.1
34.2
43.0
2,216.6
Additions \u2013 acquisitions \u2013 internal developments
\u2014
\u2014
0.2
36.5
36.7
Depreciation expense for the year
\u2014
(3.2)
(14.5)
(2.4)
(20.1)
Impairment expense for the year
\u2014
(1.3)
(3.6)
\u2014
(4.9)
Net foreign exchange differences
24.7
2.1
0.1
0.1
27.0
Other
\u2014
\u2014
11.0
(3.0)
8.0
Net book value as of December 31, 2024
2,118.0
43.7
27.3
74.3
2,263.3
Additions \u2013 acquisitions \u2013 internal developments
\u2014
\u2014
0.8
39.7
40.5
Acquisition though business combination (1)
170.3
23.9
1.2
\u2014
195.4
Depreciation expense for the year
\u2014
(2.9)
(11.8)
(4.9)
(19.6)
Impairment expense for the year
\u2014
\u2014
\u2014
(2.2)
(2.2)
Net foreign exchange differences
(47.0)
(3.8)
(0.1)
(0.2)
(51.1)
Other
\u2014
\u2014
12.4
(12.5)
(0.1)
NET BOOK VALUE AS OF DECEMBER 31, 2025
2,241.3
60.9
29.4
94.2
2,425.8
(1)\u00a0 Related to acquisition of Advanced Materials & Catalysts. For more details, please refer to Note\u00a02. Changes in scope of consolidation.
14.2.Goodwill
Goodwill per cash-generating units
For impairment testing purposes, goodwill is tested at the level it is monitored for internal management purposes, which
corresponds to the Technip\u00a0Energies operating segments, Project Delivery or Technologies, Products & Services (f or further
information on Technip\u00a0Energies\u2019 operating segments, refer to Note 3. Segment information). The goodwill allocated based on
those CGUs\u2019 enterprise value is split as shown below:
(In millions of \u20ac)
December\u00a031, 2025
December\u00a031, 2024
Project Delivery
1,563.6
1,559.7
Technology, Products & Services
507.4
558.3
TOTAL (1)
2,071.0
2,118.0
(1) The difference between the goodwill presented on the statement of financial position and the amounts reported by segment is due to the provisional
goodwill recognized on the acquisition of Advanced Materials and Catalysts. This preliminary goodwill of \u20ac170.3\u00a0million will be allocated to the Group\u2019s
operating segment upon finalization of the purchase price allocation.
Goodwill impairment testing
As of December\u00a031, 2025, the Group performed its goodwill
impairment test following the methodology discussed in Note
1. Accounting principles.
The carrying amounts of the CGUs were compared to their
value in use. Cash flow projections used in the determination
of value in use were made using management prospective
financial information for the next 4 years. The valuation of
CGUs for the purpose of goodwill impairment testing was
determined primarily by using the income approach by
estimating the value in use.
The income approach estimates the value in use by
discounting each CGU\u2019s estimated future cash flows using a
weighted average cost of capital that reflects current market
conditions and the risk profile of the CGU. To estimate future
cash flows, Technip\u00a0Energies used economic and market
assumptions that reflect global economic growth, technology
efficiency, policy measures, cost increases, consideration of
investments (capital expenditures) and cost of development.
The following table presents the key assumptions used by management in determining the recoverable amount of the Group
CGUs as of December\u00a031, 2025, and\u00a02024:
December\u00a031, 2025
December\u00a031, 2024
Year of cash flows before terminal value
4
4
Risk-adjusted post-tax discount rate - Project Delivery
10.3%
10.8%
Risk-adjusted post-tax discount rate - Technology, Products & Services
9.0%
9.5%
Long-term growth rate
2.3%
2.3%
As discussed above, when evaluating the 2025 and 2024
quantitative impairment test results, management
considered many factors in determining whether an
impairment of goodwill for CGUs was reasonably likely to
occur in future periods, including future market conditions
and the economic environment. Circumstances such as
market declines, unfavorable economic conditions, loss of a
major customer, or other factors could increase the risk of
impairment of goodwill for these CGUs in future periods.
During the years ended December\u00a031, 2025, and 2024, the
Technip\u00a0Energies Group did not recognize any impairment
expense. Sensitivities applied to the weighted average cost of
capital (+0.5%) and to long-term growth rates (-0.5%) further
support this conclusion.
The excess of value in use over carrying amount for
Technip\u00a0Energies was approximately 140% of the respective
carrying amounts for 2025, and 161% for 2024. The Group
excess value in use over carrying amount, after allocation of
corporate assets, was respectively 129% for 2025 and 128%
for 2024.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGoodwillExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-474": { "value": ".Goodwill
Goodwill is measured at the acquisition date as the total of
the fair value of consideration transferred, plus the
proportionate amount of any non-controlling interest, plus
the fair value of any previously held equity interest in the
acquiree, if any, less the net recognized amount (generally at
fair value) of the identifiable assets acquired and liabilities
assumed.
Goodwill is allocated to cash-generating units that are
expected to benefit from the business combination in which
the goodwill arose and in all cases is at the operating
segment level, which represents the lowest level at which
goodwill is monitored for internal management purposes.
Goodwill is not amortized but it is tested for impairment
annually, or more frequently if events or changes in
circumstances indicate that it might be impaired, and is
carried at cost less accumulated impairment losses. Gains
and losses on the disposal of an entity include the carrying
amount of goodwill relating to the entity sold.
.Intangible assets
Internally generated research and development
costs
Research costs are expensed when incurred. In compliance
with IAS\u00a038 \u201cIntangible assets\u201d (\u201cIAS\u00a038\u201d), development costs
are capitalized if all the following criteria are met:
\u25a0 The projects are clearly identified;
\u25a0 The Technip\u00a0Energies Group can reliably measure
expenditure incurred for each project during its development;
\u25a0 The Technip\u00a0Energies Group can demonstrate the technical
or industrial feasibility of the project;
\u25a0 The Technip\u00a0Energies Group has financial and technical
resources available to complete the project;
\u25a0 The Technip\u00a0Energies Group can demonstrate its intention to
complete, to use or to commercialize products resulting from
the project; and
\u25a0 The Technip\u00a0Energies Group can demonstrate the existence
of a market for the output of the intangible asset, or, if it is
used internally, the usefulness of the intangible asset.
All research and development costs not meeting the IAS\u00a038
criteria are expensed as incurred in the consolidated
statement of income. The Technip\u00a0Energies Group capitalized
costs on certain IT projects developed internally.
Note 14.Goodwill and intangible assets
The goodwill and intangible assets\u2019 costs and accumulated amortization are presented in the following table:
(In millions of \u20ac)
Goodwill
Licenses,
patents and
trademarks
Software
Other
Total
Net book value as of December 31, 2023
2,093.3
46.1
34.2
43.0
2,216.6
Costs
2,118.0
87.6
140.8
98.9
2,445.3
Accumulated amortization
\u2014
(42.6)
(106.0)
(24.6)
(173.2)
Accumulated impairment
\u2014
(1.3)
(7.5)
\u2014
(8.8)
NET BOOK VALUE AS OF DECEMBER 31, 2024
2,118.0
43.7
27.3
74.3
2,263.3
Costs
2,241.3
103.6
136.9
124.5
2,606.4
Accumulated amortization
\u2014
(41.4)
(103.9)
(28.2)
(173.5)
Accumulated impairment
\u2014
(1.3)
(3.6)
(2.2)
(7.1)
NET BOOK VALUE AS OF DECEMBER 31, 2025
2,241.3
60.9
29.4
94.2
2,425.8
Goodwill includes \u20ac1,453.6\u00a0million that was allocated to the
TechnipFMC Onshore/Offshore operating segment on the
merger date. It was the direct result of the merger between
FMC Technologies and Technip in January\u00a02017. Because
goodwill attributed to the carve-out entity using the parent\u2019s
basis is acquisition-specific, it may include synergistic
goodwill that the parent entity previously assigned to its
other CGUs or GCGUs that were expected to benefit from the
synergies of the business combination. Accordingly, because
the Onshore/Offshore operating segment has been carved
out and included in the combined financial statements of the
Technip\u00a0Energies Group, management determined that it was
most appropriate to include the associated Onshore/Offshore
operating segment\u2019s goodwill with the Technip\u00a0Energies
Group .
14.1.Goodwill and intangible assets, net
The changes in goodwill and intangible assets are presented in the following table:
(In millions of \u20ac)
Goodwill
Licenses,
patents and
trademarks
Software
Other
Total
Net book value as of December 31, 2023
2,093.3
46.1
34.2
43.0
2,216.6
Additions \u2013 acquisitions \u2013 internal developments
\u2014
\u2014
0.2
36.5
36.7
Depreciation expense for the year
\u2014
(3.2)
(14.5)
(2.4)
(20.1)
Impairment expense for the year
\u2014
(1.3)
(3.6)
\u2014
(4.9)
Net foreign exchange differences
24.7
2.1
0.1
0.1
27.0
Other
\u2014
\u2014
11.0
(3.0)
8.0
Net book value as of December 31, 2024
2,118.0
43.7
27.3
74.3
2,263.3
Additions \u2013 acquisitions \u2013 internal developments
\u2014
\u2014
0.8
39.7
40.5
Acquisition though business combination (1)
170.3
23.9
1.2
\u2014
195.4
Depreciation expense for the year
\u2014
(2.9)
(11.8)
(4.9)
(19.6)
Impairment expense for the year
\u2014
\u2014
\u2014
(2.2)
(2.2)
Net foreign exchange differences
(47.0)
(3.8)
(0.1)
(0.2)
(51.1)
Other
\u2014
\u2014
12.4
(12.5)
(0.1)
NET BOOK VALUE AS OF DECEMBER 31, 2025
2,241.3
60.9
29.4
94.2
2,425.8
(1)\u00a0 Related to acquisition of Advanced Materials & Catalysts. For more details, please refer to Note\u00a02. Changes in scope of consolidation.
14.2.Goodwill
Goodwill per cash-generating units
For impairment testing purposes, goodwill is tested at the level it is monitored for internal management purposes, which
corresponds to the Technip\u00a0Energies operating segments, Project Delivery or Technologies, Products & Services (f or further
information on Technip\u00a0Energies\u2019 operating segments, refer to Note 3. Segment information). The goodwill allocated based on
those CGUs\u2019 enterprise value is split as shown below:
(In millions of \u20ac)
December\u00a031, 2025
December\u00a031, 2024
Project Delivery
1,563.6
1,559.7
Technology, Products & Services
507.4
558.3
TOTAL (1)
2,071.0
2,118.0
(1) The difference between the goodwill presented on the statement of financial position and the amounts reported by segment is due to the provisional
goodwill recognized on the acquisition of Advanced Materials and Catalysts. This preliminary goodwill of \u20ac170.3\u00a0million will be allocated to the Group\u2019s
operating segment upon finalization of the purchase price allocation.
Goodwill impairment testing
As of December\u00a031, 2025, the Group performed its goodwill
impairment test following the methodology discussed in Note
1. Accounting principles.
The carrying amounts of the CGUs were compared to their
value in use. Cash flow projections used in the determination
of value in use were made using management prospective
financial information for the next 4 years. The valuation of
CGUs for the purpose of goodwill impairment testing was
determined primarily by using the income approach by
estimating the value in use.
The income approach estimates the value in use by
discounting each CGU\u2019s estimated future cash flows using a
weighted average cost of capital that reflects current market
conditions and the risk profile of the CGU. To estimate future
cash flows, Technip\u00a0Energies used economic and market
assumptions that reflect global economic growth, technology
efficiency, policy measures, cost increases, consideration of
investments (capital expenditures) and cost of development.
The following table presents the key assumptions used by management in determining the recoverable amount of the Group
CGUs as of December\u00a031, 2025, and\u00a02024:
December\u00a031, 2025
December\u00a031, 2024
Year of cash flows before terminal value
4
4
Risk-adjusted post-tax discount rate - Project Delivery
10.3%
10.8%
Risk-adjusted post-tax discount rate - Technology, Products & Services
9.0%
9.5%
Long-term growth rate
2.3%
2.3%
As discussed above, when evaluating the 2025 and 2024
quantitative impairment test results, management
considered many factors in determining whether an
impairment of goodwill for CGUs was reasonably likely to
occur in future periods, including future market conditions
and the economic environment. Circumstances such as
market declines, unfavorable economic conditions, loss of a
major customer, or other factors could increase the risk of
impairment of goodwill for these CGUs in future periods.
During the years ended December\u00a031, 2025, and 2024, the
Technip\u00a0Energies Group did not recognize any impairment
expense. Sensitivities applied to the weighted average cost of
capital (+0.5%) and to long-term growth rates (-0.5%) further
support this conclusion.
The excess of value in use over carrying amount for
Technip\u00a0Energies was approximately 140% of the respective
carrying amounts for 2025, and 161% for 2024. The Group
excess value in use over carrying amount, after allocation of
corporate assets, was respectively 129% for 2025 and 128%
for 2024.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-480": { "value": ".Property, plant and equipment
In compliance with IAS\u00a016 \u201cProperty, plant and
equipment\u201d (\u201cIAS\u00a016\u201d), an asset is recognized only if the cost
can be measured reliably and if future economic benefits are
expected from its use.
Property, plant and equipment could be initially recognized at
cost or at their fair value in the case of business
combinations.
As per IAS\u00a016, the Technip\u00a0Energies Group uses different
depreciation periods for each of the significant components
of a single property, plant and equipment asset where the
useful life of the component differs from that of the main
asset. Below are the useful lives most commonly applied by
the Technip\u00a0Energies Group on a straight-line basis:
\u25a0 Buildings: 10 to 60 years;
\u25a0 IT Equipment: 3 to 5 years;
\u25a0 Machinery and Equipment: 3 to 20 years; and
\u25a0 Office Fixtures: 5 to 10 years.
If the residual value of an asset is material and can be
measured, it is taken into account in calculating its
depreciable amount.
On a regular basis, the Technip\u00a0Energies Group reviews the
useful lives of its assets. That review is based on the
effective use of the assets.
Depreciation costs are recorded in the statement of income
as a function of the fixed assets\u2019 use, split between the
following line items: cost of sales, research and development
expense, selling, general and administrative expenses.
In accordance with IAS\u00a036 \u2013 Impairment of Assets, the
carrying value of property, plant and equipment is reviewed
for impairment whenever internal or external events indicate
that there may be impairment, in which case, an impairment
test is performed.
Note 15.Property, plant and equipment
Location of property, plant and equipment by country is the following:
(In millions of \u20ac)
December\u00a031, 2025
December\u00a031, 2024
United States
114.6
50.9
France
62.6
64.2
United Kingdom
31.7
2.2
India
24.3
16.7
Italy
15.0
14.5
All other countries
24.0
17.4
TOTAL PROPERTY, PLANT AND EQUIPMENT
272.2
165.9
The following tables show the property, plant and equipment rollforward per category:
(In millions of \u20ac)
Land and
Buildings
IT
equipment
Machinery and
equipment
Office fixtures
and fittings
Assets under
construction
Other(1)
Total
Net book value as of December
31, 2023
21.5
10.2
13.1
12.6
\u2014
59.2
116.6
Costs
131.0
80.6
47.5
92.3
7.3
17.2
375.8
Accumulated depreciation
(75.3)
(57.5)
(28.4)
(40.6)
\u2014
(4.3)
(206.0)
Accumulated impairment
(0.6)
\u2014
(3.4)
\u2014
\u2014
\u2014
(3.9)
Net book value as of December
31, 2024
55.2
23.1
15.7
51.7
7.3
12.9
165.9
Costs
155.5
77.1
84.5
100.5
42.8
16.6
476.9
Accumulated depreciation
(76.6)
(52.5)
(27.5)
(43.7)
\u2014
(4.3)
(204.6)
Accumulated impairment
(0.2)
\u2014
\u2014
\u2014
\u2014
\u2014
(0.2)
NET BOOK VALUE
AS OF\u00a0 DECEMBER 31, 2025
78.7
24.6
57.0
56.8
42.8
12.3
272.2
(1) \u201cOther\u201d is mainly composed of building arrangements at the Group\u2019s headquarters and CAPEX advance for land in India.
Property, plant and equipment amounted to \u20ac272.2m (\u20ac165.9m as of December 31, 2024) and consisted of the following:
(In millions of \u20ac)
Land and
Buildings
IT
equipment
Machinery and
equipment
Office fixtures
and fittings
Assets under
construction
Other
Total
Net book value as of December
31, 2023
21.5
10.2
13.1
12.6
\u2014
59.2
116.6
Additions
2.1
14.7
3.5
2.6
46.2
7.8
76.9
Disposals \u2013 write-off
(0.1)
(0.1)
\u2014
(0.1)
\u2014
\u2014
(0.3)
Depreciation expense for the year
(7.8)
(6.2)
(2.7)
(5.3)
\u2014
(0.7)
(22.7)
Net foreign exchange differences
2.1
0.4
0.3
0.6
0.1
\u2014
3.5
Transfer
37.4
4.0
1.5
41.3
(39.0)
(53.5)
(8.3)
Other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Net book value as of December
31, 2024
55.2
23.1
15.7
51.7
7.3
12.9
165.9
Additions
11.4
8.3
3.7
3.7
13.3
11.5
51.9
Acquisitions through business
combinations (1)
24.4
0.4
41.4
0.3
27.1
0.1
93.7
Disposals \u2013 write-off
(0.2)
(0.1)
(0.5)
(0.1)
\u2014
\u2014
(0.9)
Depreciation expense for the year
(8.8)
(8.6)
(3.1)
(6.8)
\u2014
(0.8)
(28.2)
Net foreign exchange differences
(5.8)
(1.1)
(1.0)
(1.3)
(0.6)
(0.5)
(10.4)
Transfer
2.4
2.6
0.9
9.3
(4.4)
(10.8)
\u2014
Other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
NET BOOK VALUE
AS OF\u00a0 DECEMBER 31, 2025
78.7
24.6
57.0
56.8
42.8
12.3
272.2
", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-479": { "value": ".Property, plant and equipment
In compliance with IAS\u00a016 \u201cProperty, plant and
equipment\u201d (\u201cIAS\u00a016\u201d), an asset is recognized only if the cost
can be measured reliably and if future economic benefits are
expected from its use.
Property, plant and equipment could be initially recognized at
cost or at their fair value in the case of business
combinations.
As per IAS\u00a016, the Technip\u00a0Energies Group uses different
depreciation periods for each of the significant components
of a single property, plant and equipment asset where the
useful life of the component differs from that of the main
asset. Below are the useful lives most commonly applied by
the Technip\u00a0Energies Group on a straight-line basis:
\u25a0 Buildings: 10 to 60 years;
\u25a0 IT Equipment: 3 to 5 years;
\u25a0 Machinery and Equipment: 3 to 20 years; and
\u25a0 Office Fixtures: 5 to 10 years.
If the residual value of an asset is material and can be
measured, it is taken into account in calculating its
depreciable amount.
On a regular basis, the Technip\u00a0Energies Group reviews the
useful lives of its assets. That review is based on the
effective use of the assets.
Depreciation costs are recorded in the statement of income
as a function of the fixed assets\u2019 use, split between the
following line items: cost of sales, research and development
expense, selling, general and administrative expenses.
In accordance with IAS\u00a036 \u2013 Impairment of Assets, the
carrying value of property, plant and equipment is reviewed
for impairment whenever internal or external events indicate
that there may be impairment, in which case, an impairment
test is performed.
i.Leases
Technip\u00a0Energies mainly leases real estate assets such as
office buildings and residential housing.
The standard requires that payments shall be discounted
using the interest rate implicit in the lease, if that rate can
be readily determined. In practice, given the structure of the
Group\u2019s financing all of which is held by
Technip\u00a0Energies\u00a0N.V. or T.EN Eurocash SNC, the discount
rate used to determine the right-of-use asset and the lease
liability for each leased asset is calculated based on the
incremental borrowing rate of the Group at inception of the
lease. Technip\u00a0Energies calculated the rate applicable to
each lease contract based on the lease duration.
Technip\u00a0Energies Group determines if an arrangement is a
lease at inception by assessing whether an identified asset
exists and if the Group has the right to control the use of the
identified asset. Leases are included in right-of-use assets,
lease liabilities (non-current and current on the statement of
financial position). Right-of-use assets represent the right to
use an underlying asset for the lease term and lease
liabilities represent Technip\u00a0Energies\u2019 obligation to make
lease payments arising from the lease. Right-of-use assets
and lease liabilities are recognized at the commencement
date based on the present value of the remaining lease
payments over the lease term. The right-of-use assets also
include any lease prepayments made and exclude lease
incentives the Group received from the lessor. Depreciation
of right-of-use assets is recognized on a straight-line basis
over the lease term.
The lease term generally used to calculate the liability is the
term of the initially negotiated lease, not considering any
early termination options, except in special circumstances.
When leases contain extension options, the term used for
the calculation of the liability may include these periods,
mainly when the anticipated period of use of the fixed
assets, whether under a new or existing lease, is greater than
the initial contractual lease term.
The Group has variable lease payments, including
adjustments to lease payments based on an index or rate
(such as the Consumer Price Index) and fair value
adjustments to lease payments. Variable lease payments that
depend on an index or a rate (such as the Consumer Price
Index or a market interest rate) are included when measuring
initial lease liability of the lease arrangements using the
payments\u2019 base rate or index. The Group remeasures the
lease liability when there is a change in future lease
payments resulting from a change in such an index or rate.
Short-term leases with an initial term of 12 months or less
that do not include a purchase option and leases of low-
value assets (referring mainly to IT equipment e.g., laptops
and mobile phones) are not recorded on the statement of
financial position.
Technip\u00a0Energies Group adopted the practical expedient
to\u00a0not separate lease and non-lease components for all
asset\u00a0classes.
The Group currently subleases certain of its leased real
estate to third parties. The subleases are classified as
operating or finance leases by the sublessor depending on
the duration of the sublease contract and the end date of
the main lease contract.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-478": { "value": ".Property, plant and equipment
In compliance with IAS\u00a016 \u201cProperty, plant and
equipment\u201d (\u201cIAS\u00a016\u201d), an asset is recognized only if the cost
can be measured reliably and if future economic benefits are
expected from its use.
Property, plant and equipment could be initially recognized at
cost or at their fair value in the case of business
combinations.
As per IAS\u00a016, the Technip\u00a0Energies Group uses different
depreciation periods for each of the significant components
of a single property, plant and equipment asset where the
useful life of the component differs from that of the main
asset. Below are the useful lives most commonly applied by
the Technip\u00a0Energies Group on a straight-line basis:
\u25a0 Buildings: 10 to 60 years;
\u25a0 IT Equipment: 3 to 5 years;
\u25a0 Machinery and Equipment: 3 to 20 years; and
\u25a0 Office Fixtures: 5 to 10 years.
If the residual value of an asset is material and can be
measured, it is taken into account in calculating its
depreciable amount.
On a regular basis, the Technip\u00a0Energies Group reviews the
useful lives of its assets. That review is based on the
effective use of the assets.
Depreciation costs are recorded in the statement of income
as a function of the fixed assets\u2019 use, split between the
following line items: cost of sales, research and development
expense, selling, general and administrative expenses.
In accordance with IAS\u00a036 \u2013 Impairment of Assets, the
carrying value of property, plant and equipment is reviewed
for impairment whenever internal or external events indicate
that there may be impairment, in which case, an impairment
test is performed.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-477": { "value": ".Property, plant and equipment
In compliance with IAS\u00a016 \u201cProperty, plant and
equipment\u201d (\u201cIAS\u00a016\u201d), an asset is recognized only if the cost
can be measured reliably and if future economic benefits are
expected from its use.
Property, plant and equipment could be initially recognized at
cost or at their fair value in the case of business
combinations.
As per IAS\u00a016, the Technip\u00a0Energies Group uses different
depreciation periods for each of the significant components
of a single property, plant and equipment asset where the
useful life of the component differs from that of the main
asset. Below are the useful lives most commonly applied by
the Technip\u00a0Energies Group on a straight-line basis:
\u25a0 Buildings: 10 to 60 years;
\u25a0 IT Equipment: 3 to 5 years;
\u25a0 Machinery and Equipment: 3 to 20 years; and
\u25a0 Office Fixtures: 5 to 10 years.
If the residual value of an asset is material and can be
measured, it is taken into account in calculating its
depreciable amount.
On a regular basis, the Technip\u00a0Energies Group reviews the
useful lives of its assets. That review is based on the
effective use of the assets.
Depreciation costs are recorded in the statement of income
as a function of the fixed assets\u2019 use, split between the
following line items: cost of sales, research and development
expense, selling, general and administrative expenses.
In accordance with IAS\u00a036 \u2013 Impairment of Assets, the
carrying value of property, plant and equipment is reviewed
for impairment whenever internal or external events indicate
that there may be impairment, in which case, an impairment
test is performed.
.Intangible assets
Internally generated research and development
costs
Research costs are expensed when incurred. In compliance
with IAS\u00a038 \u201cIntangible assets\u201d (\u201cIAS\u00a038\u201d), development costs
are capitalized if all the following criteria are met:
\u25a0 The projects are clearly identified;
\u25a0 The Technip\u00a0Energies Group can reliably measure
expenditure incurred for each project during its development;
\u25a0 The Technip\u00a0Energies Group can demonstrate the technical
or industrial feasibility of the project;
\u25a0 The Technip\u00a0Energies Group has financial and technical
resources available to complete the project;
\u25a0 The Technip\u00a0Energies Group can demonstrate its intention to
complete, to use or to commercialize products resulting from
the project; and
\u25a0 The Technip\u00a0Energies Group can demonstrate the existence
of a market for the output of the intangible asset, or, if it is
used internally, the usefulness of the intangible asset.
All research and development costs not meeting the IAS\u00a038
criteria are expensed as incurred in the consolidated
statement of income. The Technip\u00a0Energies Group capitalized
costs on certain IT projects developed internally.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-482": { "value": ".Leases
Technip\u00a0Energies mainly leases real estate assets such as
office buildings and residential housing.
The standard requires that payments shall be discounted
using the interest rate implicit in the lease, if that rate can
be readily determined. In practice, given the structure of the
Group\u2019s financing all of which is held by
Technip\u00a0Energies\u00a0N.V. or T.EN Eurocash SNC, the discount
rate used to determine the right-of-use asset and the lease
liability for each leased asset is calculated based on the
incremental borrowing rate of the Group at inception of the
lease. Technip\u00a0Energies calculated the rate applicable to
each lease contract based on the lease duration.
Technip\u00a0Energies Group determines if an arrangement is a
lease at inception by assessing whether an identified asset
exists and if the Group has the right to control the use of the
identified asset. Leases are included in right-of-use assets,
lease liabilities (non-current and current on the statement of
financial position). Right-of-use assets represent the right to
use an underlying asset for the lease term and lease
liabilities represent Technip\u00a0Energies\u2019 obligation to make
lease payments arising from the lease. Right-of-use assets
and lease liabilities are recognized at the commencement
date based on the present value of the remaining lease
payments over the lease term. The right-of-use assets also
include any lease prepayments made and exclude lease
incentives the Group received from the lessor. Depreciation
of right-of-use assets is recognized on a straight-line basis
over the lease term.
The lease term generally used to calculate the liability is the
term of the initially negotiated lease, not considering any
early termination options, except in special circumstances.
When leases contain extension options, the term used for
the calculation of the liability may include these periods,
mainly when the anticipated period of use of the fixed
assets, whether under a new or existing lease, is greater than
the initial contractual lease term.
The Group has variable lease payments, including
adjustments to lease payments based on an index or rate
(such as the Consumer Price Index) and fair value
adjustments to lease payments. Variable lease payments that
depend on an index or a rate (such as the Consumer Price
Index or a market interest rate) are included when measuring
initial lease liability of the lease arrangements using the
payments\u2019 base rate or index. The Group remeasures the
lease liability when there is a change in future lease
payments resulting from a change in such an index or rate.
Short-term leases with an initial term of 12 months or less
that do not include a purchase option and leases of low-
value assets (referring mainly to IT equipment e.g., laptops
and mobile phones) are not recorded on the statement of
financial position.
Technip\u00a0Energies Group adopted the practical expedient
to\u00a0not separate lease and non-lease components for all
asset\u00a0classes.
The Group currently subleases certain of its leased real
estate to third parties. The subleases are classified as
operating or finance leases by the sublessor depending on
the duration of the sublease contract and the end date of
the main lease contract.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-481": { "value": ".Leases
Technip\u00a0Energies mainly leases real estate assets such as
office buildings and residential housing.
The standard requires that payments shall be discounted
using the interest rate implicit in the lease, if that rate can
be readily determined. In practice, given the structure of the
Group\u2019s financing all of which is held by
Technip\u00a0Energies\u00a0N.V. or T.EN Eurocash SNC, the discount
rate used to determine the right-of-use asset and the lease
liability for each leased asset is calculated based on the
incremental borrowing rate of the Group at inception of the
lease. Technip\u00a0Energies calculated the rate applicable to
each lease contract based on the lease duration.
Technip\u00a0Energies Group determines if an arrangement is a
lease at inception by assessing whether an identified asset
exists and if the Group has the right to control the use of the
identified asset. Leases are included in right-of-use assets,
lease liabilities (non-current and current on the statement of
financial position). Right-of-use assets represent the right to
use an underlying asset for the lease term and lease
liabilities represent Technip\u00a0Energies\u2019 obligation to make
lease payments arising from the lease. Right-of-use assets
and lease liabilities are recognized at the commencement
date based on the present value of the remaining lease
payments over the lease term. The right-of-use assets also
include any lease prepayments made and exclude lease
incentives the Group received from the lessor. Depreciation
of right-of-use assets is recognized on a straight-line basis
over the lease term.
The lease term generally used to calculate the liability is the
term of the initially negotiated lease, not considering any
early termination options, except in special circumstances.
When leases contain extension options, the term used for
the calculation of the liability may include these periods,
mainly when the anticipated period of use of the fixed
assets, whether under a new or existing lease, is greater than
the initial contractual lease term.
The Group has variable lease payments, including
adjustments to lease payments based on an index or rate
(such as the Consumer Price Index) and fair value
adjustments to lease payments. Variable lease payments that
depend on an index or a rate (such as the Consumer Price
Index or a market interest rate) are included when measuring
initial lease liability of the lease arrangements using the
payments\u2019 base rate or index. The Group remeasures the
lease liability when there is a change in future lease
payments resulting from a change in such an index or rate.
Short-term leases with an initial term of 12 months or less
that do not include a purchase option and leases of low-
value assets (referring mainly to IT equipment e.g., laptops
and mobile phones) are not recorded on the statement of
financial position.
Technip\u00a0Energies Group adopted the practical expedient
to\u00a0not separate lease and non-lease components for all
asset\u00a0classes.
The Group currently subleases certain of its leased real
estate to third parties. The subleases are classified as
operating or finance leases by the sublessor depending on
the duration of the sublease contract and the end date of
the main lease contract.
Note 16.Leases
The following table is a summary of amounts recognized in the consolidated statements of income for the years ended
December\u00a031, 2025, and 2024 :
(In millions of \u20ac)
December\u00a031,
2025
December\u00a031,
2024
Depreciation of right-of-use assets
(75.3)
(68.2)
Interest expenses on lease liabilities
(6.1)
(4.3)
Short-term lease expenses
(6.4)
(7.9)
Sublease income
0.6
2.1
The table below shows the ending balance and depreciation of right-of-use assets by type of asset:
(In millions of \u20ac)
Real estate
Office furniture
and IT equipment
Machinery and
equipment
Total
Net book value as of December 31, 2023
182.8
17.3
0.7
200.8
Costs
356.4
21.1
1.6
379.1
Accumulated depreciation
(152.3)
(9.6)
(1.2)
(163.1)
Accumulated impairment
(14.9)
\u2014
\u2014
(14.9)
Net book value as of December 31, 2024
189.2
11.5
0.4
201.1
Costs
370.6
27.9
1.0
399.5
Accumulated depreciation
(155.9)
(17.0)
(0.1)
(173.1)
Accumulated impairment
(5.2)
\u2014
\u2014
(5.2)
NET BOOK VALUE AS OF DECEMBER 31, 2025
209.5
10.9
0.9
221.2
The following table shows the right-of-use rollforward per category:
(In millions of \u20ac)
Real estate
Office furniture
and IT equipment
Machinery and
equipment
Total
Net book value as of December 31, 2023
182.8
17.3
0.7
200.8
Additions
61.8
6.7
\u2014
68.5
Disposals - write-off
(2.0)
(0.1)
\u2014
(2.1)
Depreciation expense for the year
(55.4)
(12.5)
(0.3)
(68.2)
Net foreign exchange differences
2.0
0.1
\u2014
2.1
Net book value as of December 31, 2024
189.2
11.5
0.4
201.1
Additions
81.4
17.2
0.5
99.1
Acquisitions through business combinations
0.1
\u2014
0.5
0.6
Disposals through divestitures
0.1
0.1
\u2014
0.2
Disposals - write-off
(0.5)
(0.1)
(0.3)
(0.8)
Depreciation expense for the year
(57.4)
(17.7)
(0.2)
(75.3)
Impairment
\u2014
\u2014
\u2014
\u2014
Net foreign exchange differences
(6.4)
(0.3)
\u2014
(6.7)
Other
2.9
\u2014
\u2014
2.9
NET BOOK VALUE AS OF DECEMBER 31, 2025
209.5
10.9
0.9
221.2
As of December 2024 , the net book value of right-of-use
assets was \u20ac201.1 \u00a0million, which compares to \u20ac221.2\u00a0million
as of December\u00a031, 2025 .
As of December\u00a031, 2025, the principal type of assets
composing the net book value is real estate for
\u20ac 209.5\u00a0million, which mainly consists of the Group
headquarters lease. Additions to real estate are mainly
related to the index of the Group headquarters lease, new
leases on buildings, and the extension of lease contracts on
existing buildings .
The table below shows the lease liability recorded as of December\u00a031, 2025, and 2024:
(In millions of \u20ac)
December\u00a031, 2025
December\u00a031, 2024
Non-current lease liabilities
194.7
192.4
Current lease liabilities
61.6
56.9
TOTAL LEASE LIABILITIES
256.3
249.3
", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-484": { "value": ".Intangible assets
Internally generated research and development
costs
Research costs are expensed when incurred. In compliance
with IAS\u00a038 \u201cIntangible assets\u201d (\u201cIAS\u00a038\u201d), development costs
are capitalized if all the following criteria are met:
\u25a0 The projects are clearly identified;
\u25a0 The Technip\u00a0Energies Group can reliably measure
expenditure incurred for each project during its development;
\u25a0 The Technip\u00a0Energies Group can demonstrate the technical
or industrial feasibility of the project;
\u25a0 The Technip\u00a0Energies Group has financial and technical
resources available to complete the project;
\u25a0 The Technip\u00a0Energies Group can demonstrate its intention to
complete, to use or to commercialize products resulting from
the project; and
\u25a0 The Technip\u00a0Energies Group can demonstrate the existence
of a market for the output of the intangible asset, or, if it is
used internally, the usefulness of the intangible asset.
All research and development costs not meeting the IAS\u00a038
criteria are expensed as incurred in the consolidated
statement of income. The Technip\u00a0Energies Group capitalized
costs on certain IT projects developed internally.
Other intangible assets
Intangible assets other than goodwill (including those
acquired in a business combination) are amortized on a
straight-line basis over their expected useful lives, as
follows:
\u25a0 Backlog: as per the timeframe of the outstanding orders
(usually less than 3 years);
\u25a0 Licenses, Patents and Trademarks: less than 20 years;
\u25a0 Software (including software rights, proprietary IT tools,
such as the E-procurement platform, or the
Technip\u00a0Energies Group\u2019s management applications): 3 to
7 years.
In accordance with IAS\u00a036, the carrying value of intangible
assets is reviewed for impairment whenever internal or
external events indicate that there may be an impairment,
in\u00a0which case an impairment test is performed.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-483": { "value": ".Intangible assets
Internally generated research and development
costs
Research costs are expensed when incurred. In compliance
with IAS\u00a038 \u201cIntangible assets\u201d (\u201cIAS\u00a038\u201d), development costs
are capitalized if all the following criteria are met:
\u25a0 The projects are clearly identified;
\u25a0 The Technip\u00a0Energies Group can reliably measure
expenditure incurred for each project during its development;
\u25a0 The Technip\u00a0Energies Group can demonstrate the technical
or industrial feasibility of the project;
\u25a0 The Technip\u00a0Energies Group has financial and technical
resources available to complete the project;
\u25a0 The Technip\u00a0Energies Group can demonstrate its intention to
complete, to use or to commercialize products resulting from
the project; and
\u25a0 The Technip\u00a0Energies Group can demonstrate the existence
of a market for the output of the intangible asset, or, if it is
used internally, the usefulness of the intangible asset.
All research and development costs not meeting the IAS\u00a038
criteria are expensed as incurred in the consolidated
statement of income. The Technip\u00a0Energies Group capitalized
costs on certain IT projects developed internally.
Other intangible assets
Intangible assets other than goodwill (including those
acquired in a business combination) are amortized on a
straight-line basis over their expected useful lives, as
follows:
\u25a0 Backlog: as per the timeframe of the outstanding orders
(usually less than 3 years);
\u25a0 Licenses, Patents and Trademarks: less than 20 years;
\u25a0 Software (including software rights, proprietary IT tools,
such as the E-procurement platform, or the
Technip\u00a0Energies Group\u2019s management applications): 3 to
7 years.
In accordance with IAS\u00a036, the carrying value of intangible
assets is reviewed for impairment whenever internal or
external events indicate that there may be an impairment,
in\u00a0which case an impairment test is performed.
The goodwill and intangible assets\u2019 costs and accumulated amortization are presented in the following table:
(In millions of \u20ac)
Goodwill
Licenses,
patents and
trademarks
Software
Other
Total
Net book value as of December 31, 2023
2,093.3
46.1
34.2
43.0
2,216.6
Costs
2,118.0
87.6
140.8
98.9
2,445.3
Accumulated amortization
\u2014
(42.6)
(106.0)
(24.6)
(173.2)
Accumulated impairment
\u2014
(1.3)
(7.5)
\u2014
(8.8)
NET BOOK VALUE AS OF DECEMBER 31, 2024
2,118.0
43.7
27.3
74.3
2,263.3
Costs
2,241.3
103.6
136.9
124.5
2,606.4
Accumulated amortization
\u2014
(41.4)
(103.9)
(28.2)
(173.5)
Accumulated impairment
\u2014
(1.3)
(3.6)
(2.2)
(7.1)
NET BOOK VALUE AS OF DECEMBER 31, 2025
2,241.3
60.9
29.4
94.2
2,425.8
Goodwill includes \u20ac1,453.6\u00a0million that was allocated to the
TechnipFMC Onshore/Offshore operating segment on the
merger date. It was the direct result of the merger between
FMC Technologies and Technip in January\u00a02017. Because
goodwill attributed to the carve-out entity using the parent\u2019s
basis is acquisition-specific, it may include synergistic
goodwill that the parent entity previously assigned to its
other CGUs or GCGUs that were expected to benefit from the
synergies of the business combination. Accordingly, because
the Onshore/Offshore operating segment has been carved
out and included in the combined financial statements of the
Technip\u00a0Energies Group, management determined that it was
most appropriate to include the associated Onshore/Offshore
operating segment\u2019s goodwill with the Technip\u00a0Energies
Group .
14.1.Goodwill and intangible assets, net
The changes in goodwill and intangible assets are presented in the following table:
(In millions of \u20ac)
Goodwill
Licenses,
patents and
trademarks
Software
Other
Total
Net book value as of December 31, 2023
2,093.3
46.1
34.2
43.0
2,216.6
Additions \u2013 acquisitions \u2013 internal developments
\u2014
\u2014
0.2
36.5
36.7
Depreciation expense for the year
\u2014
(3.2)
(14.5)
(2.4)
(20.1)
Impairment expense for the year
\u2014
(1.3)
(3.6)
\u2014
(4.9)
Net foreign exchange differences
24.7
2.1
0.1
0.1
27.0
Other
\u2014
\u2014
11.0
(3.0)
8.0
Net book value as of December 31, 2024
2,118.0
43.7
27.3
74.3
2,263.3
Additions \u2013 acquisitions \u2013 internal developments
\u2014
\u2014
0.8
39.7
40.5
Acquisition though business combination (1)
170.3
23.9
1.2
\u2014
195.4
Depreciation expense for the year
\u2014
(2.9)
(11.8)
(4.9)
(19.6)
Impairment expense for the year
\u2014
\u2014
\u2014
(2.2)
(2.2)
Net foreign exchange differences
(47.0)
(3.8)
(0.1)
(0.2)
(51.1)
Other
\u2014
\u2014
12.4
(12.5)
(0.1)
NET BOOK VALUE AS OF DECEMBER 31, 2025
2,241.3
60.9
29.4
94.2
2,425.8
(1)\u00a0 Related to acquisition of Advanced Materials & Catalysts. For more details, please refer to Note\u00a02. Changes in scope of consolidation.
14.2.Goodwill
Goodwill per cash-generating units
For impairment testing purposes, goodwill is tested at the level it is monitored for internal management purposes, which
corresponds to the Technip\u00a0Energies operating segments, Project Delivery or Technologies, Products & Services (f or further
information on Technip\u00a0Energies\u2019 operating segments, refer to Note 3. Segment information). The goodwill allocated based on
those CGUs\u2019 enterprise value is split as shown below:
(In millions of \u20ac)
December\u00a031, 2025
December\u00a031, 2024
Project Delivery
1,563.6
1,559.7
Technology, Products & Services
507.4
558.3
TOTAL (1)
2,071.0
2,118.0
(1) The difference between the goodwill presented on the statement of financial position and the amounts reported by segment is due to the provisional
goodwill recognized on the acquisition of Advanced Materials and Catalysts. This preliminary goodwill of \u20ac170.3\u00a0million will be allocated to the Group\u2019s
operating segment upon finalization of the purchase price allocation.
Goodwill impairment testing
As of December\u00a031, 2025, the Group performed its goodwill
impairment test following the methodology discussed in Note
1. Accounting principles.
The carrying amounts of the CGUs were compared to their
value in use. Cash flow projections used in the determination
of value in use were made using management prospective
financial information for the next 4 years. The valuation of
CGUs for the purpose of goodwill impairment testing was
determined primarily by using the income approach by
estimating the value in use.
The income approach estimates the value in use by
discounting each CGU\u2019s estimated future cash flows using a
weighted average cost of capital that reflects current market
conditions and the risk profile of the CGU. To estimate future
cash flows, Technip\u00a0Energies used economic and market
assumptions that reflect global economic growth, technology
efficiency, policy measures, cost increases, consideration of
investments (capital expenditures) and cost of development.
The following table presents the key assumptions used by management in determining the recoverable amount of the Group
CGUs as of December\u00a031, 2025, and\u00a02024:
December\u00a031, 2025
December\u00a031, 2024
Year of cash flows before terminal value
4
4
Risk-adjusted post-tax discount rate - Project Delivery
10.3%
10.8%
Risk-adjusted post-tax discount rate - Technology, Products & Services
9.0%
9.5%
Long-term growth rate
2.3%
2.3%
As discussed above, when evaluating the 2025 and 2024
quantitative impairment test results, management
considered many factors in determining whether an
impairment of goodwill for CGUs was reasonably likely to
occur in future periods, including future market conditions
and the economic environment. Circumstances such as
market declines, unfavorable economic conditions, loss of a
major customer, or other factors could increase the risk of
impairment of goodwill for these CGUs in future periods.
During the years ended December\u00a031, 2025, and 2024, the
Technip\u00a0Energies Group did not recognize any impairment
expense. Sensitivities applied to the weighted average cost of
capital (+0.5%) and to long-term growth rates (-0.5%) further
support this conclusion.
The excess of value in use over carrying amount for
Technip\u00a0Energies was approximately 140% of the respective
carrying amounts for 2025, and 161% for 2024. The Group
excess value in use over carrying amount, after allocation of
corporate assets, was respectively 129% for 2025 and 128%
for 2024.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-487": { "value": ".Impairment of non-financial assets
Non-financial assets, property, plant and equipment, and
identifiable intangible assets being amortized are reviewed
for impairment whenever events or changes in circumstances
indicate the carrying amount of the asset or cash-generating
unit (\u201cCGU\u201d) may not be recoverable. If any indication exists,
or when annual impairment testing for an asset is required,
the Technip\u00a0Energies Group estimates the asset\u2019s
recoverable amount. The asset\u2019s recoverable amount is the
higher of an asset\u2019s or CGU\u2019s fair value less costs of disposal
and the value in use. The recoverable amount is determined
for an individual asset, unless the asset does not generate
cash inflows that are largely independent of those from other
assets or groups of assets. When the carrying amount of
an\u00a0asset or CGU exceeds its recoverable amount, the asset
is\u00a0considered impaired and is written down to its
recoverable\u00a0amount.
In assessing the value in use, the estimated future cash
flows are discounted to their present value using a post-tax
discount rate that reflects current market assessments of
the time value of money and the risks specific to the asset,
including growth rates in revenues, costs, estimates of future
expected changes in operating margins, tax rates, and cash
expenditures. Future revenues are also adjusted to match
changes in the Technip\u00a0Energies Group\u2019s business strategy.
Factors that could trigger a lower value in use estimate
include sustained price declines of a CGU\u2019s products and
services, cost increases, regulatory or political environment
changes, changes in customer demand, and other changes in
market conditions, which may affect certain market
participant assumptions used in the discounted future cash
flow model.
In determining the fair value less costs of disposal, recent
market transactions are considered. If no such transactions
can be identified, an appropriate valuation model is used.
Goodwill is tested for impairment annually on September\u00a030
and whenever changes in circumstances indicate that its
carrying amount may not be recoverable. Impairment is
determined for goodwill by assessing the recoverable amount
of each CGU (or group of CGUs) to which the goodwill
relates. When the recoverable amount of the CGU is less
than its carrying amount, an impairment loss is recognized.
Impairment losses relating to goodwill cannot be reversed in
future periods.
as of December\u00a031, 2025 ,
and December\u00a031, 2024 respectively.
In relation to Goodwill, the impairment test conducted is
discussed in detail in Note 1. Accounting principles and
presented in Note 14. Goodwill and intangible assets and
concluded to the absence of impairment.
Goodwill impairment testing
As of December\u00a031, 2025, the Group performed its goodwill
impairment test following the methodology discussed in Note
1. Accounting principles.
The carrying amounts of the CGUs were compared to their
value in use. Cash flow projections used in the determination
of value in use were made using management prospective
financial information for the next 4 years. The valuation of
CGUs for the purpose of goodwill impairment testing was
determined primarily by using the income approach by
estimating the value in use.
The income approach estimates the value in use by
discounting each CGU\u2019s estimated future cash flows using a
weighted average cost of capital that reflects current market
conditions and the risk profile of the CGU. To estimate future
cash flows, Technip\u00a0Energies used economic and market
assumptions that reflect global economic growth, technology
efficiency, policy measures, cost increases, consideration of
investments (capital expenditures) and cost of development.
The following table presents the key assumptions used by management in determining the recoverable amount of the Group
CGUs as of December\u00a031, 2025, and\u00a02024:
December\u00a031, 2025
December\u00a031, 2024
Year of cash flows before terminal value
4
4
Risk-adjusted post-tax discount rate - Project Delivery
10.3%
10.8%
Risk-adjusted post-tax discount rate - Technology, Products & Services
9.0%
9.5%
Long-term growth rate
2.3%
2.3%
As discussed above, when evaluating the 2025 and 2024
quantitative impairment test results, management
considered many factors in determining whether an
impairment of goodwill for CGUs was reasonably likely to
occur in future periods, including future market conditions
and the economic environment. Circumstances such as
market declines, unfavorable economic conditions, loss of a
major customer, or other factors could increase the risk of
impairment of goodwill for these CGUs in future periods.
During the years ended December\u00a031, 2025, and 2024, the
Technip\u00a0Energies Group did not recognize any impairment
expense. Sensitivities applied to the weighted average cost of
capital (+0.5%) and to long-term growth rates (-0.5%) further
support this conclusion.
The excess of value in use over carrying amount for
Technip\u00a0Energies was approximately 140% of the respective
carrying amounts for 2025, and 161% for 2024. The Group
excess value in use over carrying amount, after allocation of
corporate assets, was respectively 129% for 2025 and 128%
for 2024.
", "dimensions": { "concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-486": { "value": ".Impairment of non-financial assets
Non-financial assets, property, plant and equipment, and
identifiable intangible assets being amortized are reviewed
for impairment whenever events or changes in circumstances
indicate the carrying amount of the asset or cash-generating
unit (\u201cCGU\u201d) may not be recoverable. If any indication exists,
or when annual impairment testing for an asset is required,
the Technip\u00a0Energies Group estimates the asset\u2019s
recoverable amount. The asset\u2019s recoverable amount is the
higher of an asset\u2019s or CGU\u2019s fair value less costs of disposal
and the value in use. The recoverable amount is determined
for an individual asset, unless the asset does not generate
cash inflows that are largely independent of those from other
assets or groups of assets. When the carrying amount of
an\u00a0asset or CGU exceeds its recoverable amount, the asset
is\u00a0considered impaired and is written down to its
recoverable\u00a0amount.
In assessing the value in use, the estimated future cash
flows are discounted to their present value using a post-tax
discount rate that reflects current market assessments of
the time value of money and the risks specific to the asset,
including growth rates in revenues, costs, estimates of future
expected changes in operating margins, tax rates, and cash
expenditures. Future revenues are also adjusted to match
changes in the Technip\u00a0Energies Group\u2019s business strategy.
Factors that could trigger a lower value in use estimate
include sustained price declines of a CGU\u2019s products and
services, cost increases, regulatory or political environment
changes, changes in customer demand, and other changes in
market conditions, which may affect certain market
participant assumptions used in the discounted future cash
flow model.
In determining the fair value less costs of disposal, recent
market transactions are considered. If no such transactions
can be identified, an appropriate valuation model is used.
Goodwill is tested for impairment annually on September\u00a030
and whenever changes in circumstances indicate that its
carrying amount may not be recoverable. Impairment is
determined for goodwill by assessing the recoverable amount
of each CGU (or group of CGUs) to which the goodwill
relates. When the recoverable amount of the CGU is less
than its carrying amount, an impairment loss is recognized.
Impairment losses relating to goodwill cannot be reversed in
future periods.
Impairment of financial assets
An allowance for Expected Credit Losses (ECL) is recognized
for all debt instruments not held at fair value through profit
or loss. As opposed to the incurred loss approach, ECL is
based on the difference between the carrying amount (as per
the contractual cash flows of the instruments) and all the
cash flows that the Technip\u00a0Energies Group expects to
receive, discounted at the original effective interest rate. The
expected cash flows will include consideration of collaterals
or other credit enhancements that are integral to the
contractual terms.
In the case of instruments for which there has not been a
significant increase in credit risk since initial recognition, ECL
is applied for default events that are possible within the next
twelve months (a 12-month ECL). In case there has been a
significant increase in credit risk since initial recognition, an
ECL is applied over the remaining life of the exposure
(lifetime ECL).
For trade receivables and contract assets, the
Technip\u00a0Energies Group applies a simplified approach
permitted by IFRS\u00a09. Therefore, the Technip\u00a0Energies Group
recognizes lifetime ECL at initial recognition and at each
reporting date. The Technip\u00a0Energies Group has considered
historical credit loss experience, adjusted for forward-looking
factors specific to the debtors and the economic
environment to determine lifetime expected losses.
For debt instruments recognized at amortized cost, as
permitted by IFRS\u00a09, the Technip\u00a0Energies Group applies the
low credit risk simplification. Accordingly, the
Technip\u00a0Energies Group evaluates whether the debt
instrument is considered to have low credit risk at the
reporting date, using available, reasonable, and supportable
information.
The Technip\u00a0Energies Group considers its internal credit
rating of the debt instrument and considers that there has
been a significant increase in credit risk when contractual
payments are more than 90 days past due. For debt
instruments that continue to have low credit risk after the
evaluation, the Technip\u00a0Energies Group assumes that there is
no significant increase in the credit risk of the instrument.
ECL on such instruments is measured on a 12-month basis.
However, when there has been a significant increase in credit
risk since its origination, the allowance will be based on the
lifetime ECL. The Technip\u00a0Energies Group uses the ratings
from credit rating agencies both to determine whether the
debt instrument has significantly increased in credit risk and
to estimate ECLs.
The Technip\u00a0Energies Group considers a financial asset in
default when contractual payments are 90 days past due.
Also, in cases when internal or external information indicates
that it is unlikely to receive the outstanding contractual cash
flows before considering any credit enhancements,
the\u00a0Technip\u00a0Energies Group considers a financial asset to be
in default. A financial asset is written off when there
is\u00a0no\u00a0reasonable expectation of recovering the contractual
cash\u00a0flows.
.Advances paid to suppliers
Advance payments made to suppliers under long-term
contracts are shown under the \u201cAdvances paid to suppliers\u201d
line item, on the consolidated statement of financial position.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-485": { "value": ".Impairment of non-financial assets
Non-financial assets, property, plant and equipment, and
identifiable intangible assets being amortized are reviewed
for impairment whenever events or changes in circumstances
indicate the carrying amount of the asset or cash-generating
unit (\u201cCGU\u201d) may not be recoverable. If any indication exists,
or when annual impairment testing for an asset is required,
the Technip\u00a0Energies Group estimates the asset\u2019s
recoverable amount. The asset\u2019s recoverable amount is the
higher of an asset\u2019s or CGU\u2019s fair value less costs of disposal
and the value in use. The recoverable amount is determined
for an individual asset, unless the asset does not generate
cash inflows that are largely independent of those from other
assets or groups of assets. When the carrying amount of
an\u00a0asset or CGU exceeds its recoverable amount, the asset
is\u00a0considered impaired and is written down to its
recoverable\u00a0amount.
In assessing the value in use, the estimated future cash
flows are discounted to their present value using a post-tax
discount rate that reflects current market assessments of
the time value of money and the risks specific to the asset,
including growth rates in revenues, costs, estimates of future
expected changes in operating margins, tax rates, and cash
expenditures. Future revenues are also adjusted to match
changes in the Technip\u00a0Energies Group\u2019s business strategy.
Factors that could trigger a lower value in use estimate
include sustained price declines of a CGU\u2019s products and
services, cost increases, regulatory or political environment
changes, changes in customer demand, and other changes in
market conditions, which may affect certain market
participant assumptions used in the discounted future cash
flow model.
In determining the fair value less costs of disposal, recent
market transactions are considered. If no such transactions
can be identified, an appropriate valuation model is used.
Goodwill is tested for impairment annually on September\u00a030
and whenever changes in circumstances indicate that its
carrying amount may not be recoverable. Impairment is
determined for goodwill by assessing the recoverable amount
of each CGU (or group of CGUs) to which the goodwill
relates. When the recoverable amount of the CGU is less
than its carrying amount, an impairment loss is recognized.
Impairment losses relating to goodwill cannot be reversed in
future periods.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-489": { "value": ".Fair value measurement
In compliance with IFRS\u00a013 \u201cFair value measurement,\u201d the
Technip\u00a0Energies Group measures certain financial
instruments (including derivatives) at fair value at each
balance sheet date.
Fair value is the price that would be received to sell an asset
or paid to transfer a liability in an orderly transaction
between market participants at the measurement date.
The fair value of an asset or a liability is measured using the
assumptions that market participants would use when
pricing the asset or liability, assuming that market
participants act in their economic best interest.
A fair value measurement of a non-financial asset considers
a market participant\u2019s ability to generate economic benefits
by using the asset at its highest and best use or by selling it
to another market participant that would use the asset at its
highest and best use.
The Technip\u00a0Energies Group uses valuation techniques that
are appropriate in the circumstances and for which sufficient
data is available to measure fair value, maximizing the use of
relevant observable inputs and minimizing the use of
unobservable inputs.
All assets and liabilities for which fair value is measured or
disclosed in the consolidated financial statements are
categorized within the fair value hierarchy, described as
follows, based on the lowest level input that is significant to
the fair value measurement as a whole:
\u25a0 Level 1: Observable inputs that reflect quoted prices
(unadjusted) for identical assets or liabilities in active
markets;
\u25a0 Level 2: Inputs other than quoted prices included in
Level\u00a01 that are observable for the asset or liability either
directly or indirectly;
\u25a0 Level 3: Unobservable inputs (e.g., reporting entity\u2019s own
data).
For assets and liabilities that are recognized in the
consolidated financial statements at fair value on a recurring
basis, the Technip\u00a0Energies Group determines whether
transfers have occurred between levels in the hierarchy by
re-assessing categorization (based on the lowest level input
that is significant to the fair value measurement as a whole)
at the end of each reporting period.
December\u00a031, 2024
Analysis by category of financial instruments
(In millions of \u20ac)
Carrying
amount
At fair value
through profit
or loss
At amortized
cost
At fair value
through OCI
Level
Other non-current financial assets (excl.
derivatives)
175.8
12.0
50.7
113.1
Level 1
Derivative financial instruments (non-current
and current)
19.8
8.2
\u2014
11.6
Level 2
Trade receivables
1,096.8
\u2014
1,096.8
\u2014
N/A
Cash and cash equivalents
3,846.7
3,846.7
\u2014
\u2014
N/A
TOTAL FINANCIAL ASSETS
5,139.1
3,866.9
1,147.5
124.7
Long-term debt, less current portion
637.6
\u2014
637.6
\u2014
N/A
Derivative financial instruments (non-current
and current)
59.5
0.6
\u2014
58.9
Level 2
Short-term debt
93.8
\u2014
93.8
\u2014
N/A
Accounts payable, trade
1,517.2
\u2014
1,517.2
\u2014
N/A
Other current liabilities (excl. derivatives)
0.5
0.5
\u2014
\u2014
Level 3
TOTAL FINANCIAL LIABILITIES
2,308.6
1.1
2,248.6
58.9
During the financial years 2025 and 2024 , there were no
transfers between Level 1 and Level 2 fair value measurements,
and no transfers into or out o f Level 3 fair value measurements.
Investments \u2014 The fair value measurement of quoted equity
instruments is based on quoted prices that the Technip\u00a0Energies
Group has the ability to access in public markets.
Mandatorily redeemable financial liability \u2014 Management
determined the fair value of the mandatorily redeemable
financial liability using a discounted cash flow model. The key
assumptions used in applying the income approach are the
selected discount rates and the expected dividends to be
distributed in the future to the non-controlling interest holders.
Expected dividends to be distributed are based on the non-
controlling interests\u2019 share of the expected profitability of the
underlying contract, the selected discount rate, and the overall
timing of completion of the project. The fair value measurement
is based upon significant inputs not observable in the market
and is consequently classified as a Level 3 fair value
measurement.
Changes in the fair value of Level 3 mandatorily redeemable
financial liability (Note 20. Other liabilities (non-current and
current)) are presented in the below table. Over the periods
presented, the Technip\u00a0Energies Group consolidated the total
results of the Yamal entities and recorded a mandatorily
redeemable financial liability representing the Group\u2019s dividend
obligation.
(In millions of \u20ac)
December\u00a031,
2025
December\u00a031,
2024
Balance at beginning of the period
0.5
16.0
Add: Expenses recognized in statement of income
\u2014
0.1
Less: Settlements
(0.4)
(16.0)
Net foreign exchange differences
\u2014
0.4
BALANCE AT END OF THE PERIOD
0.1
0.5
Fair value of debt \u2014 The fair values (based on Level 2 inputs) of the Technip\u00a0Energies Group debt, carried at amortized cost,
are presented in Note 22. Debt (long and short-term debt) .
", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-488": { "value": ".Fair value measurement
In compliance with IFRS\u00a013 \u201cFair value measurement,\u201d the
Technip\u00a0Energies Group measures certain financial
instruments (including derivatives) at fair value at each
balance sheet date.
Fair value is the price that would be received to sell an asset
or paid to transfer a liability in an orderly transaction
between market participants at the measurement date.
The fair value of an asset or a liability is measured using the
assumptions that market participants would use when
pricing the asset or liability, assuming that market
participants act in their economic best interest.
A fair value measurement of a non-financial asset considers
a market participant\u2019s ability to generate economic benefits
by using the asset at its highest and best use or by selling it
to another market participant that would use the asset at its
highest and best use.
The Technip\u00a0Energies Group uses valuation techniques that
are appropriate in the circumstances and for which sufficient
data is available to measure fair value, maximizing the use of
relevant observable inputs and minimizing the use of
unobservable inputs.
All assets and liabilities for which fair value is measured or
disclosed in the consolidated financial statements are
categorized within the fair value hierarchy, described as
follows, based on the lowest level input that is significant to
the fair value measurement as a whole:
\u25a0 Level 1: Observable inputs that reflect quoted prices
(unadjusted) for identical assets or liabilities in active
markets;
\u25a0 Level 2: Inputs other than quoted prices included in
Level\u00a01 that are observable for the asset or liability either
directly or indirectly;
\u25a0 Level 3: Unobservable inputs (e.g., reporting entity\u2019s own
data).
For assets and liabilities that are recognized in the
consolidated financial statements at fair value on a recurring
basis, the Technip\u00a0Energies Group determines whether
transfers have occurred between levels in the hierarchy by
re-assessing categorization (based on the lowest level input
that is significant to the fair value measurement as a whole)
at the end of each reporting period.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-491": { "value": ".Financial assets
Financial assets are categorized at initial recognition, as
subsequently measured at either amortized cost, at fair value
through other comprehensive income (\u201cFVOCI\u201d), or at fair
value through profit or loss (\u201cFVTPL\u201d).
For debt instruments, this classification depends on the
financial asset\u2019s contractual cash flow characteristics as well
as the business model according to which the
Technip\u00a0Energies Group is managing them. Financial assets
are initially measured at their fair value plus, in the case of a
financial asset not at fair value through profit or loss,
transaction costs. Trade receivables that do not contain a
significant financing component are measured at the
transaction price determined under IFRS\u00a015.
A financial asset is classified and measured at amortized
cost or fair value through other comprehensive income
(\u201cFVOCI\u201d) if and only if it gives rise to cash flows that are
\u201csolely payments of principal and interest\u201d (\u201cSPPI\u201d), i.e., the
asset meets the SPPI test criteria, which are assessed at an
instrument level.
The business model applied by the Technip\u00a0Energies Group
determines whether the cash flows from the instruments will
be realized through collecting contractual cash flows, selling
the financial assets, or both.
Transactions on financial assets that require delivery of
assets within a time frame legally or contractually (regular-
way trades) are recognized on the trade date, being the date
when the Technip\u00a0Energies Group commits to acquire or sell
the asset.
For purposes of subsequent measurement, financial assets
are classified into three categories:
\u25a0 Financial assets at amortized cost;
\u25a0 Financial assets at fair value through OCI, either with
recycling or no recycling of cumulative gains and losses;
\u25a0 Financial assets at fair value through profit or loss.
Financial assets at amortized cost
A financial asset is measured at amortized cost if both of the
following conditions are met:
\u25a0 The financial asset is held within a business model with
the objective to hold financial assets to collect
contractual cash flows; and
\u25a0 The contractual terms of the financial asset give rise on
specified dates to cash flows that are solely payments of
the principal and interest on the principal amount
outstanding.
Financial assets at amortized cost are subsequently
measured using the effective interest rate and are also
subject to impairment. Gains and losses are recognized in the
statement of income when the asset is derecognized.
The Technip\u00a0Energies Group\u2019s financial assets at amortized
cost include trade receivables, loans issued to third or
related parties and debt notes receivable presented under
other non-current assets or other current assets, as
applicable.
Financial assets at fair value through OCI
Financial assets are classified and measured at fair value
through other comprehensive income if they are held in a
business model whose objective is achieved by both
collecting contractual cash flows and selling financial assets.
Financial assets at fair value through profit or loss
Financial assets at fair value through profit or loss include:
\u25a0 Financial assets held for trading (i.e., those that are
acquired for the purpose of selling or repurchasing in the
near term);
\u25a0 Financial assets designated upon initial recognition at fair
value through profit or loss (to eliminate, or significantly
reduce, an accounting mismatch); or
\u25a0 Financial assets required to be measured at fair value (i.e.,
assets with cash flows that are not solely payments of
principal and interest, irrespective of the business model).
Derivatives, including separated embedded derivatives, are
also classified as held for trading except for those designated
as effective hedging instruments. Financial assets at fair
value through profit or loss are carried in the statement of
financial position at fair value with net changes in fair value
recognized in the statement of income.
This category includes derivative instruments, listed and non-
quoted equity investments, which the Technip\u00a0Energies
Group had not irrevocably elected to classify at fair value
through OCI, as well as certain liquid, frequently traded debt
instruments such as treasury bills.
Dividends on listed equity investments are also recognized in
the statement of income when the right of payment has
been established.
Impairment of financial assets
An allowance for Expected Credit Losses (ECL) is recognized
for all debt instruments not held at fair value through profit
or loss. As opposed to the incurred loss approach, ECL is
based on the difference between the carrying amount (as per
the contractual cash flows of the instruments) and all the
cash flows that the Technip\u00a0Energies Group expects to
receive, discounted at the original effective interest rate. The
expected cash flows will include consideration of collaterals
or other credit enhancements that are integral to the
contractual terms.
In the case of instruments for which there has not been a
significant increase in credit risk since initial recognition, ECL
is applied for default events that are possible within the next
twelve months (a 12-month ECL). In case there has been a
significant increase in credit risk since initial recognition, an
ECL is applied over the remaining life of the exposure
(lifetime ECL).
For trade receivables and contract assets, the
Technip\u00a0Energies Group applies a simplified approach
permitted by IFRS\u00a09. Therefore, the Technip\u00a0Energies Group
recognizes lifetime ECL at initial recognition and at each
reporting date. The Technip\u00a0Energies Group has considered
historical credit loss experience, adjusted for forward-looking
factors specific to the debtors and the economic
environment to determine lifetime expected losses.
For debt instruments recognized at amortized cost, as
permitted by IFRS\u00a09, the Technip\u00a0Energies Group applies the
low credit risk simplification. Accordingly, the
Technip\u00a0Energies Group evaluates whether the debt
instrument is considered to have low credit risk at the
reporting date, using available, reasonable, and supportable
information.
The Technip\u00a0Energies Group considers its internal credit
rating of the debt instrument and considers that there has
been a significant increase in credit risk when contractual
payments are more than 90 days past due. For debt
instruments that continue to have low credit risk after the
evaluation, the Technip\u00a0Energies Group assumes that there is
no significant increase in the credit risk of the instrument.
ECL on such instruments is measured on a 12-month basis.
However, when there has been a significant increase in credit
risk since its origination, the allowance will be based on the
lifetime ECL. The Technip\u00a0Energies Group uses the ratings
from credit rating agencies both to determine whether the
debt instrument has significantly increased in credit risk and
to estimate ECLs.
The Technip\u00a0Energies Group considers a financial asset in
default when contractual payments are 90 days past due.
Also, in cases when internal or external information indicates
that it is unlikely to receive the outstanding contractual cash
flows before considering any credit enhancements,
the\u00a0Technip\u00a0Energies Group considers a financial asset to be
in default. A financial asset is written off when there
is\u00a0no\u00a0reasonable expectation of recovering the contractual
cash\u00a0flows.
Derecognition
A financial asset (or, where applicable, a part of a financial
asset or part of a group of similar financial assets) is
primarily derecognized when:
\u25a0 The rights to receive cash flows from the asset have
expired; or
\u25a0 The Technip\u00a0Energies Group has transferred its rights to
receive cash flows from the asset or has assumed an
obligation to pay the received cash flows in full without
material delay to a third party under a \u201cpass-through\u201d
arrangement and either (a) the Technip\u00a0Energies Group
has transferred substantially all the risks and rewards of
the asset, or (b) the Technip\u00a0Energies Group has neither
transferred nor retained substantially all the risks and
rewards of the asset, but has transferred control of the
asset.
When the Technip\u00a0Energies Group has transferred its rights
to receive cash flows from an asset or has entered a pass-
through arrangement, it evaluates if, and to what extent, it
has retained the risks and rewards of ownership. When it has
neither transferred nor retained substantially all the risks
and rewards of the asset, nor transferred control of the
asset, the Technip\u00a0Energies Group continues to recognize the
transferred asset to the extent of its continuing involvement.
In that case, the Technip\u00a0Energies Group also recognizes an
associated liability. The transferred asset and the associated
liability are measured on a basis that reflects the rights and
obligations that the Technip\u00a0Energies Group has retained.
Continuing involvement that takes the form of a guarantee
over the transferred asset is measured at the lower of the
original carrying amount of the asset and the maximum
amount of consideration that the Technip\u00a0Energies Group
could be required to repay.
Offsetting of financial instruments
Financial assets and financial liabilities are offset, and the
net amount is reported in the consolidated statement of
financial position if there is a currently enforceable legal right
to offset the recognized amounts and there is an intention to
settle on a net basis, or to realize the assets and settle the
liabilities simultaneously.
Note 26.Financial instruments
26.1.Financial assets and liabilities by category
The Technip\u00a0Energies Group holds the following financial assets and liabilities:
December\u00a031, 2025
Analysis by category of financial instruments
(In millions of \u20ac)
Carrying
amount
At fair value
through profit
or loss
At amortized
cost
At fair value
through OCI
Level
Other non-current financial assets (excl.
derivatives)
202.0
10.2
46.9
144.9
Level 1
Derivative financial instruments (non-current
and current)
55.4
2.2
\u2014
53.2
Level 2
Trade receivables
1,399.3
\u2014
1,399.3
\u2014
N/A
Cash and cash equivalents
3,643.5
3,643.5
\u2014
\u2014
N/A
TOTAL FINANCIAL ASSETS
5,300.2
3,655.9
1,446.2
198.1
Long-term debt, less current portion
678.3
\u2014
678.3
\u2014
N/A
Derivative financial instruments (non-current
and current)
17.1
5.3
\u2014
11.8
Level 2
Short-term debt
309.5
\u2014
309.5
\u2014
N/A
Accounts payable, trade
1,402.4
\u2014
1,402.4
\u2014
N/A
Other current liabilities (excl. derivatives)
0.1
0.1
\u2014
\u2014
Level 3
TOTAL FINANCIAL LIABILITIES
2,407.4
5.4
2,390.2
11.8
December\u00a031, 2024
Analysis by category of financial instruments
(In millions of \u20ac)
Carrying
amount
At fair value
through profit
or loss
At amortized
cost
At fair value
through OCI
Level
Other non-current financial assets (excl.
derivatives)
175.8
12.0
50.7
113.1
Level 1
Derivative financial instruments (non-current
and current)
19.8
8.2
\u2014
11.6
Level 2
Trade receivables
1,096.8
\u2014
1,096.8
\u2014
N/A
Cash and cash equivalents
3,846.7
3,846.7
\u2014
\u2014
N/A
TOTAL FINANCIAL ASSETS
5,139.1
3,866.9
1,147.5
124.7
Long-term debt, less current portion
637.6
\u2014
637.6
\u2014
N/A
Derivative financial instruments (non-current
and current)
59.5
0.6
\u2014
58.9
Level 2
Short-term debt
93.8
\u2014
93.8
\u2014
N/A
Accounts payable, trade
1,517.2
\u2014
1,517.2
\u2014
N/A
Other current liabilities (excl. derivatives)
0.5
0.5
\u2014
\u2014
Level 3
TOTAL FINANCIAL LIABILITIES
2,308.6
1.1
2,248.6
58.9
During the financial years 2025 and 2024 , there were no
transfers between Level 1 and Level 2 fair value measurements,
and no transfers into or out o f Level 3 fair value measurements.
Investments \u2014 The fair value measurement of quoted equity
instruments is based on quoted prices that the Technip\u00a0Energies
Group has the ability to access in public markets.
Mandatorily redeemable financial liability \u2014 Management
determined the fair value of the mandatorily redeemable
financial liability using a discounted cash flow model. The key
assumptions used in applying the income approach are the
selected discount rates and the expected dividends to be
distributed in the future to the non-controlling interest holders.
Expected dividends to be distributed are based on the non-
controlling interests\u2019 share of the expected profitability of the
underlying contract, the selected discount rate, and the overall
timing of completion of the project. The fair value measurement
is based upon significant inputs not observable in the market
and is consequently classified as a Level 3 fair value
measurement.
Changes in the fair value of Level 3 mandatorily redeemable
financial liability (Note 20. Other liabilities (non-current and
current)) are presented in the below table. Over the periods
presented, the Technip\u00a0Energies Group consolidated the total
results of the Yamal entities and recorded a mandatorily
redeemable financial liability representing the Group\u2019s dividend
obligation.
(In millions of \u20ac)
December\u00a031,
2025
December\u00a031,
2024
Balance at beginning of the period
0.5
16.0
Add: Expenses recognized in statement of income
\u2014
0.1
Less: Settlements
(0.4)
(16.0)
Net foreign exchange differences
\u2014
0.4
BALANCE AT END OF THE PERIOD
0.1
0.5
Fair value of debt \u2014 The fair values (based on Level 2 inputs) of the Technip\u00a0Energies Group debt, carried at amortized cost,
are presented in Note 22. Debt (long and short-term debt) .
26.2.Derivative financial instruments
The management of the Technip\u00a0Energies Group derivatives
and hedge accounting was carried out centrally by
Technip\u00a0Energies as of December\u00a031, 2025.
For purposes of mitigating the effect of changes in exchange
rates, Technip\u00a0Energies holds derivative financial instruments
to hedge the risks of certain identifiable and anticipated
transactions and recorded assets and liabilities in the
consolidated statement of financial position. The types of
risks hedged are those relating to the variability of future
earnings and cash flows caused by movements in foreign
currency exchange rates. The Technip\u00a0Energies Group\u2019s policy
is to hold derivatives only for the purpose of hedging risks
associated with anticipated foreign currency purchases and
sales created in the normal course of business and not for
trading purposes where the objective is solely or partially to
generate profit.
Generally, Technip\u00a0Energies enters hedging relationships so
that changes in the fair values or cash flows of the
transactions being hedged are expected to be offset by
corresponding changes in the fair value of the derivatives. For
derivative instruments that qualify as a cash flow hedge, the
effective portion of the gain or loss of the derivative, which
does not include the time value component of a forward
currency rate, is reported as a component of OCI and
reclassified into earnings in the same period or periods
during which the hedged transaction affects earnings. For
derivative instruments not designated as hedging
instruments, any change in the fair value of those
instruments is reflected in earnings in the period such
change occurs. For further information on foreign currency
risk exposure and management, refer to Note 28. Market-
related exposure.
Technip\u00a0Energies used the following types of derivative
instruments: foreign exchange rate forward contracts. In
general, embedded derivative instruments are separated
from the host contract if the economic characteristics and
risks of the embedded derivative instrument are not clearly
and closely related to those of the host contract and the
host contract is not marked-to-market at fair value. The
purpose of these instruments is to hedge the risk of changes
in future cash flows of highly probable purchase or sale
commitments denominated in foreign currencies and
recorded assets and liabilities in the consolidated statement
of financial position.
As of December\u00a031, 2025, and 2024, the Group held the following material net positions:
December\u00a031, 2025
December\u00a031, 2024
Net notional amount bought (sold)
Net notional amount bought (sold)
(In millions of currencies)
Local currency
Euro equivalent
Local currency
Euro equivalent
Australian dollar (AUD)
(5.0)
(2.8)
11.1
6.6
Thai baht (THB)
\u2014
\u2014
32.6
0.9
Canadian dollar (CAD)
1.0
0.6
\u2014
\u2014
Chinese yuan renminbi (CNY)
555.6
67.7
1,552.6
205.4
Euro (EUR)
(765.3)
(765.3)
126.0
126.0
Indian rupee (INR)
\u2014
\u2014
610.4
6.9
Polish zloty (PLN)
(12.7)
(3.0)
\u2014
\u2014
Japanese yen (JPY)
(1,320.3)
(7.2)
1,548.4
9.9
Kuwaiti dinar (KWD)
8.2
22.6
2.1
6.7
Malaysian ringgit (MYR)
8.0
1.7
68.9
14.9
Mexican peso (MXN)
588.2
27.9
57.3
2.7
Norwegian krone (NOK)
(109.6)
(9.3)
(55.3)
(4.7)
Pound sterling (GBP)
179.8
206.0
56.6
68.5
Qatari riyal (QAR)
80.0
18.7
20.0
5.3
Saudi riyal (SAR)
70.0
15.9
\u2014
\u2014
Singapore dollar (SGD)
20.0
13.2
38.0
26.9
South Korean Won (KRW)
4,041.0
2.4
12,842.6
8.4
Indonesian rupiah (IDR)
435,737.0
22.2
\u2014
\u2014
Swiss franc (CHF)
0.8
0.8
0.9
1.0
U.A.E. dirham (AED)
\u2014
\u2014
(5.0)
(1.3)
U.S. dollar (USD)
(541.3)
(460.9)
(497.2)
(480.1)
Fair value amounts for all outstanding derivative instruments have been determined using available market information and
commonly accepted valuation methodologies. Accordingly, the estimates presented may not be indicative of the amounts that
Technip\u00a0Energies would realize in a current market exchange and may not be indicative of the gains or losses Technip\u00a0Energies
may ultimately incur when these contracts are settled.
The following table presents the location and fair value amounts of derivative instruments reported in the consolidated
statement of financial position:
December\u00a031, 2025
December\u00a031, 2024
(In millions of \u20ac)
Assets
Liabilities
Assets
Liabilities
Derivatives designated as hedging instruments
Foreign exchange contracts
Current \u2013 Derivative financial instruments
38.3
9.1
7.4
35.5
Long-term \u2013 Derivative financial instruments
14.9
2.7
4.3
23.3
Total derivatives designated as hedging
instruments
53.2
11.8
11.7
58.8
Derivatives not designated as hedging
instruments
Foreign exchange contracts
Current \u2013 Derivative financial instruments
2.2
0.2
8.2
0.6
Long-term \u2013 Derivative financial instruments
\u2014
5.1
\u2014
\u2014
Total derivatives not designated as hedging
instruments
2.2
5.3
8.2
0.6
TOTAL DERIVATIVES
55.4
17.1
19.9
59.4
Cash flow hedges of forecasted transactions resulted in
accumulated other comprehensive (loss)/income of
\u20ac117.9\u00a0million and \u20ac(77.9)\u00a0million as of December\u00a031, 2025,
and 2024. The Technip\u00a0Energies Group expects to transfer an
approximate \u20ac42.3\u00a0million loss from accumulated other
comprehensive income to earnings during the next 12 months
when the anticipated transactions occur. All anticipated
transactions currently being hedged are expected to occur by
the third quarter of 2029.
The following table presents the location of gains (losses) in the consolidated statement of income related to derivative
instruments designated as cash flow hedges:
Gain\u00a0(Loss)\u00a0recognized\u00a0in\u00a0OCI
(Effective\u00a0Portion)
(In millions of \u20ac)
December\u00a031,
2025
December\u00a031,
2024
Foreign exchange contracts
Other comprehensive income/(loss)
140.1
(89.0)
The following table presents the location of cash flow hedge gain (loss) reclassified from accumulated other comprehensive
income into profit (loss):
Gain (Loss)\u00a0reclassified
from\u00a0accumulated OCI
into profit (loss) (Effective portion)
(In millions of \u20ac)
December\u00a031,
2025
December\u00a031,
2024
Foreign exchange contracts
Other income (expense), net
(22.1)
11.2
The following table presents the location of cash flow hedge gain (loss) recognized in profit (loss):
Gain\u00a0(Loss)\u00a0recognized\u00a0in\u00a0profit (loss)
(Ineffective\u00a0portion and amount
excluded\u00a0from effectiveness testing)
(In millions of \u20ac)
December\u00a031,
2025
December\u00a031,
2024
Foreign exchange contracts
Other income (expense), net
(8.6)
2.6
The following table presents the location of gains (losses) in the consolidated statement of income related to derivative
instruments not designated as hedging instruments:
Gain\u00a0(Loss)\u00a0recognized\u00a0in\u00a0profit
(loss)\u00a0on derivatives
(Instruments\u00a0not\u00a0designated
as\u00a0hedging instruments)
(In millions of \u20ac)
December\u00a031,
2025
December\u00a031,
2024
Foreign exchange contracts
Other income (expense), net
(3.1)
21.5
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-490": { "value": ".Financial assets
Financial assets are categorized at initial recognition, as
subsequently measured at either amortized cost, at fair value
through other comprehensive income (\u201cFVOCI\u201d), or at fair
value through profit or loss (\u201cFVTPL\u201d).
For debt instruments, this classification depends on the
financial asset\u2019s contractual cash flow characteristics as well
as the business model according to which the
Technip\u00a0Energies Group is managing them. Financial assets
are initially measured at their fair value plus, in the case of a
financial asset not at fair value through profit or loss,
transaction costs. Trade receivables that do not contain a
significant financing component are measured at the
transaction price determined under IFRS\u00a015.
A financial asset is classified and measured at amortized
cost or fair value through other comprehensive income
(\u201cFVOCI\u201d) if and only if it gives rise to cash flows that are
\u201csolely payments of principal and interest\u201d (\u201cSPPI\u201d), i.e., the
asset meets the SPPI test criteria, which are assessed at an
instrument level.
The business model applied by the Technip\u00a0Energies Group
determines whether the cash flows from the instruments will
be realized through collecting contractual cash flows, selling
the financial assets, or both.
Transactions on financial assets that require delivery of
assets within a time frame legally or contractually (regular-
way trades) are recognized on the trade date, being the date
when the Technip\u00a0Energies Group commits to acquire or sell
the asset.
For purposes of subsequent measurement, financial assets
are classified into three categories:
\u25a0 Financial assets at amortized cost;
\u25a0 Financial assets at fair value through OCI, either with
recycling or no recycling of cumulative gains and losses;
\u25a0 Financial assets at fair value through profit or loss.
Financial assets at amortized cost
A financial asset is measured at amortized cost if both of the
following conditions are met:
\u25a0 The financial asset is held within a business model with
the objective to hold financial assets to collect
contractual cash flows; and
\u25a0 The contractual terms of the financial asset give rise on
specified dates to cash flows that are solely payments of
the principal and interest on the principal amount
outstanding.
Financial assets at amortized cost are subsequently
measured using the effective interest rate and are also
subject to impairment. Gains and losses are recognized in the
statement of income when the asset is derecognized.
The Technip\u00a0Energies Group\u2019s financial assets at amortized
cost include trade receivables, loans issued to third or
related parties and debt notes receivable presented under
other non-current assets or other current assets, as
applicable.
Financial assets at fair value through OCI
Financial assets are classified and measured at fair value
through other comprehensive income if they are held in a
business model whose objective is achieved by both
collecting contractual cash flows and selling financial assets.
Financial assets at fair value through profit or loss
Financial assets at fair value through profit or loss include:
\u25a0 Financial assets held for trading (i.e., those that are
acquired for the purpose of selling or repurchasing in the
near term);
\u25a0 Financial assets designated upon initial recognition at fair
value through profit or loss (to eliminate, or significantly
reduce, an accounting mismatch); or
\u25a0 Financial assets required to be measured at fair value (i.e.,
assets with cash flows that are not solely payments of
principal and interest, irrespective of the business model).
Derivatives, including separated embedded derivatives, are
also classified as held for trading except for those designated
as effective hedging instruments. Financial assets at fair
value through profit or loss are carried in the statement of
financial position at fair value with net changes in fair value
recognized in the statement of income.
This category includes derivative instruments, listed and non-
quoted equity investments, which the Technip\u00a0Energies
Group had not irrevocably elected to classify at fair value
through OCI, as well as certain liquid, frequently traded debt
instruments such as treasury bills.
Dividends on listed equity investments are also recognized in
the statement of income when the right of payment has
been established.
Impairment of financial assets
An allowance for Expected Credit Losses (ECL) is recognized
for all debt instruments not held at fair value through profit
or loss. As opposed to the incurred loss approach, ECL is
based on the difference between the carrying amount (as per
the contractual cash flows of the instruments) and all the
cash flows that the Technip\u00a0Energies Group expects to
receive, discounted at the original effective interest rate. The
expected cash flows will include consideration of collaterals
or other credit enhancements that are integral to the
contractual terms.
In the case of instruments for which there has not been a
significant increase in credit risk since initial recognition, ECL
is applied for default events that are possible within the next
twelve months (a 12-month ECL). In case there has been a
significant increase in credit risk since initial recognition, an
ECL is applied over the remaining life of the exposure
(lifetime ECL).
For trade receivables and contract assets, the
Technip\u00a0Energies Group applies a simplified approach
permitted by IFRS\u00a09. Therefore, the Technip\u00a0Energies Group
recognizes lifetime ECL at initial recognition and at each
reporting date. The Technip\u00a0Energies Group has considered
historical credit loss experience, adjusted for forward-looking
factors specific to the debtors and the economic
environment to determine lifetime expected losses.
For debt instruments recognized at amortized cost, as
permitted by IFRS\u00a09, the Technip\u00a0Energies Group applies the
low credit risk simplification. Accordingly, the
Technip\u00a0Energies Group evaluates whether the debt
instrument is considered to have low credit risk at the
reporting date, using available, reasonable, and supportable
information.
The Technip\u00a0Energies Group considers its internal credit
rating of the debt instrument and considers that there has
been a significant increase in credit risk when contractual
payments are more than 90 days past due. For debt
instruments that continue to have low credit risk after the
evaluation, the Technip\u00a0Energies Group assumes that there is
no significant increase in the credit risk of the instrument.
ECL on such instruments is measured on a 12-month basis.
However, when there has been a significant increase in credit
risk since its origination, the allowance will be based on the
lifetime ECL. The Technip\u00a0Energies Group uses the ratings
from credit rating agencies both to determine whether the
debt instrument has significantly increased in credit risk and
to estimate ECLs.
The Technip\u00a0Energies Group considers a financial asset in
default when contractual payments are 90 days past due.
Also, in cases when internal or external information indicates
that it is unlikely to receive the outstanding contractual cash
flows before considering any credit enhancements,
the\u00a0Technip\u00a0Energies Group considers a financial asset to be
in default. A financial asset is written off when there
is\u00a0no\u00a0reasonable expectation of recovering the contractual
cash\u00a0flows.
Derecognition
A financial asset (or, where applicable, a part of a financial
asset or part of a group of similar financial assets) is
primarily derecognized when:
\u25a0 The rights to receive cash flows from the asset have
expired; or
\u25a0 The Technip\u00a0Energies Group has transferred its rights to
receive cash flows from the asset or has assumed an
obligation to pay the received cash flows in full without
material delay to a third party under a \u201cpass-through\u201d
arrangement and either (a) the Technip\u00a0Energies Group
has transferred substantially all the risks and rewards of
the asset, or (b) the Technip\u00a0Energies Group has neither
transferred nor retained substantially all the risks and
rewards of the asset, but has transferred control of the
asset.
When the Technip\u00a0Energies Group has transferred its rights
to receive cash flows from an asset or has entered a pass-
through arrangement, it evaluates if, and to what extent, it
has retained the risks and rewards of ownership. When it has
neither transferred nor retained substantially all the risks
and rewards of the asset, nor transferred control of the
asset, the Technip\u00a0Energies Group continues to recognize the
transferred asset to the extent of its continuing involvement.
In that case, the Technip\u00a0Energies Group also recognizes an
associated liability. The transferred asset and the associated
liability are measured on a basis that reflects the rights and
obligations that the Technip\u00a0Energies Group has retained.
Continuing involvement that takes the form of a guarantee
over the transferred asset is measured at the lower of the
original carrying amount of the asset and the maximum
amount of consideration that the Technip\u00a0Energies Group
could be required to repay.
Offsetting of financial instruments
Financial assets and financial liabilities are offset, and the
net amount is reported in the consolidated statement of
financial position if there is a currently enforceable legal right
to offset the recognized amounts and there is an intention to
settle on a net basis, or to realize the assets and settle the
liabilities simultaneously.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-492": { "value": "
Financial assets at fair value through profit or loss
Financial assets at fair value through profit or loss include:
\u25a0 Financial assets held for trading (i.e., those that are
acquired for the purpose of selling or repurchasing in the
near term);
\u25a0 Financial assets designated upon initial recognition at fair
value through profit or loss (to eliminate, or significantly
reduce, an accounting mismatch); or
\u25a0 Financial assets required to be measured at fair value (i.e.,
assets with cash flows that are not solely payments of
principal and interest, irrespective of the business model).
Derivatives, including separated embedded derivatives, are
also classified as held for trading except for those designated
as effective hedging instruments. Financial assets at fair
value through profit or loss are carried in the statement of
financial position at fair value with net changes in fair value
recognized in the statement of income.
This category includes derivative instruments, listed and non-
quoted equity investments, which the Technip\u00a0Energies
Group had not irrevocably elected to classify at fair value
through OCI, as well as certain liquid, frequently traded debt
instruments such as treasury bills.
Dividends on listed equity investments are also recognized in
the statement of income when the right of payment has
been established.
Financial liabilities at fair value through profit or loss
Financial liabilities are classified as held for trading if they
are incurred for the purpose of repurchasing in the near
term.
Gains or losses on liabilities held for trading are recognized in
the consolidated statement of income.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-493": { "value": "
Impairment of financial assets
An allowance for Expected Credit Losses (ECL) is recognized
for all debt instruments not held at fair value through profit
or loss. As opposed to the incurred loss approach, ECL is
based on the difference between the carrying amount (as per
the contractual cash flows of the instruments) and all the
cash flows that the Technip\u00a0Energies Group expects to
receive, discounted at the original effective interest rate. The
expected cash flows will include consideration of collaterals
or other credit enhancements that are integral to the
contractual terms.
In the case of instruments for which there has not been a
significant increase in credit risk since initial recognition, ECL
is applied for default events that are possible within the next
twelve months (a 12-month ECL). In case there has been a
significant increase in credit risk since initial recognition, an
ECL is applied over the remaining life of the exposure
(lifetime ECL).
For trade receivables and contract assets, the
Technip\u00a0Energies Group applies a simplified approach
permitted by IFRS\u00a09. Therefore, the Technip\u00a0Energies Group
recognizes lifetime ECL at initial recognition and at each
reporting date. The Technip\u00a0Energies Group has considered
historical credit loss experience, adjusted for forward-looking
factors specific to the debtors and the economic
environment to determine lifetime expected losses.
For debt instruments recognized at amortized cost, as
permitted by IFRS\u00a09, the Technip\u00a0Energies Group applies the
low credit risk simplification. Accordingly, the
Technip\u00a0Energies Group evaluates whether the debt
instrument is considered to have low credit risk at the
reporting date, using available, reasonable, and supportable
information.
The Technip\u00a0Energies Group considers its internal credit
rating of the debt instrument and considers that there has
been a significant increase in credit risk when contractual
payments are more than 90 days past due. For debt
instruments that continue to have low credit risk after the
evaluation, the Technip\u00a0Energies Group assumes that there is
no significant increase in the credit risk of the instrument.
ECL on such instruments is measured on a 12-month basis.
However, when there has been a significant increase in credit
risk since its origination, the allowance will be based on the
lifetime ECL. The Technip\u00a0Energies Group uses the ratings
from credit rating agencies both to determine whether the
debt instrument has significantly increased in credit risk and
to estimate ECLs.
The Technip\u00a0Energies Group considers a financial asset in
default when contractual payments are 90 days past due.
Also, in cases when internal or external information indicates
that it is unlikely to receive the outstanding contractual cash
flows before considering any credit enhancements,
the\u00a0Technip\u00a0Energies Group considers a financial asset to be
in default. A financial asset is written off when there
is\u00a0no\u00a0reasonable expectation of recovering the contractual
cash\u00a0flows.
Impairment of trade receivables
Technip\u00a0Energies Group applies the IFRS\u00a09 simplified
approach to measuring expected credit losses, which uses a
lifetime expected loss allowance for all trade receivables and
contract assets. The Technip\u00a0Energies Group\u2019s trade
receivables and contract assets constitute a homogeneous
portfolio. Therefore, to measure the expected credit losses,
trade receivables and contract assets have been grouped
based on a selection of the members of the Technip\u00a0Energies
Group that cover a representative part of the
Technip\u00a0Energies Group\u2019s trade receivables and contract
assets at each period end. Contract assets relate to unbilled
work in progress and have substantially the same risk
characteristics as the trade receivables for the same types of
contracts. The Technip\u00a0Energies Group has therefore concluded
that the expected loss rates for trade receivables are a
reasonable approximation of the loss rates for contract assets.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-494": { "value": "
Derecognition
A financial asset (or, where applicable, a part of a financial
asset or part of a group of similar financial assets) is
primarily derecognized when:
\u25a0 The rights to receive cash flows from the asset have
expired; or
\u25a0 The Technip\u00a0Energies Group has transferred its rights to
receive cash flows from the asset or has assumed an
obligation to pay the received cash flows in full without
material delay to a third party under a \u201cpass-through\u201d
arrangement and either (a) the Technip\u00a0Energies Group
has transferred substantially all the risks and rewards of
the asset, or (b) the Technip\u00a0Energies Group has neither
transferred nor retained substantially all the risks and
rewards of the asset, but has transferred control of the
asset.
When the Technip\u00a0Energies Group has transferred its rights
to receive cash flows from an asset or has entered a pass-
through arrangement, it evaluates if, and to what extent, it
has retained the risks and rewards of ownership. When it has
neither transferred nor retained substantially all the risks
and rewards of the asset, nor transferred control of the
asset, the Technip\u00a0Energies Group continues to recognize the
transferred asset to the extent of its continuing involvement.
In that case, the Technip\u00a0Energies Group also recognizes an
associated liability. The transferred asset and the associated
liability are measured on a basis that reflects the rights and
obligations that the Technip\u00a0Energies Group has retained.
Continuing involvement that takes the form of a guarantee
over the transferred asset is measured at the lower of the
original carrying amount of the asset and the maximum
amount of consideration that the Technip\u00a0Energies Group
could be required to repay.
Derecognition
Financial liability is derecognized when the obligation under
the liability is discharged or canceled or expires. When an
existing financial liability is replaced by another from the
same lender on substantially different terms, or the terms of
an existing liability are substantially modified, such an
exchange or modification is treated as the derecognition of
the original liability and the recognition of a new liability.
The\u00a0difference in the respective carrying amounts is
recognized in the consolidated statement of income.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-495": { "value": "
Offsetting of financial instruments
Financial assets and financial liabilities are offset, and the
net amount is reported in the consolidated statement of
financial position if there is a currently enforceable legal right
to offset the recognized amounts and there is an intention to
settle on a net basis, or to realize the assets and settle the
liabilities simultaneously.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-498": { "value": ".Derivative financial instruments and hedging
Initial recognition and subsequent measurement
The Technip\u00a0Energies Group uses derivative financial
instruments, such as forward contracts, swaps, and options
to hedge its risks, in particular foreign exchange risks. Such
derivative financial instruments are initially recognized at fair
value on the date on which a derivative contract is entered
into and are subsequently remeasured at fair value.
Derivatives are carried as financial assets when the fair value
is positive and as financial liabilities when the fair value
is\u00a0negative.
Currently, every derivative financial instrument held by the
Technip\u00a0Energies Group is aimed at hedging future cash
inflows or outflows against exchange rate fluctuations during
the period of contract performance. Derivative instruments
and in particular forward exchange transactions are aimed at
hedging future cash inflows or outflows against exchange
rate fluctuations in relation to awarded commercial
contracts.
To hedge its exposure to exchange rate fluctuations during
the bid period of construction contracts, the
Technip\u00a0Energies Group occasionally enters insurance
contracts under which foreign currencies are exchanged at a
specified rate and at a specified future date only if the new
contract is awarded. The premium that the Technip\u00a0Energies
Group pays to enter such an insurance contract is charged to
the statement of income when paid. If the commercial bid is
not successful, the insurance contract is automatically
terminated without any additional cash settlements or
penalties.
In some cases, the Technip\u00a0Energies Group may enter foreign
currency options for some proposals during the bid period.
These options cannot be eligible for hedging.
For the purpose of hedge accounting, instruments qualifying
as hedges are classified as:
\u25a0 Fair value hedges when hedging the exposure to changes
in the fair value of a recognized asset or liability or an
unrecognized firm commitment;
\u25a0 Cash flow hedges when hedging the exposure to variability
in cash flows that is either attributable to a particular risk
associated with a recognized asset or liability or a highly
probable forecasted transaction or the foreign currency
risk in an unrecognized firm commitment;
\u25a0 Hedges of a net investment in a foreign operation (the
Technip\u00a0Energies Group currently has no financial
instruments designated for such a hedging relationship).
Foreign currency treasury accounts designated for a contract
and used to finance its future expenses in foreign currencies
may qualify as a foreign currency cash flow hedge. Cash as a
hedging instrument is determined as cash less accounts
payable (including debts contracted on projects) plus
accounts receivable (including loans contracted on projects)
on reimbursable, services and completed contracts at closing
date.
An economic hedging may occasionally be obtained by
offsetting cash inflows and outflows on a single contract
(\u201cnatural hedging\u201d).
When implementing hedging transactions, each applicable
member of the Technip\u00a0Energies Group enters forward
exchange contracts with banks or with the member of the
Technip\u00a0Energies Group that performs centralized treasury
management for the Technip\u00a0Energies Group. However, only
instruments that involve a third party outside of
Technip\u00a0Energies are designated as hedging instruments.
At the inception of a hedge relationship, the Technip\u00a0Energies
Group formally designates and documents the hedge
relationship to which it intends to apply hedge accounting
and the risk management objective and strategy for
undertaking the hedge.
The documentation includes identification of the hedging
instrument, the hedged item or transaction, the nature of the
risk being hedged, and how Technip\u00a0Energies Group will
assess the effectiveness of changes in the hedging
instrument\u2019s fair value in offsetting the exposure to changes
in the hedged item\u2019s fair value or cash flows attributable to
the hedged risk. Such hedges are expected to be highly
effective in achieving offsetting changes in fair value or cash
flows and are assessed on an ongoing basis to determine
that they have been highly effective throughout the financial
reporting periods for which they were designated.
Hedges that meet all the qualifying criteria for hedge
accounting are accounted for as described below. The fair
value of derivative financial instruments is estimated based
on valuations provided by bank counterparties or financial
models commonly used in financial markets, using market
data as of the statement of financial position date.
A derivative instrument qualifies for hedge accounting (fair
value hedge or cash flow hedge) when there is a formal
designation and documentation of the hedging relationship,
and of the effectiveness of the hedge throughout the life of
the contract. A fair value hedge aims at reducing risks
incurred by changes in the market value of some assets,
liabilities, or firm commitments. A cash flow hedge aims at
reducing risks incurred by variations in the value of future
cash flows that may impact net profit (loss).
For a currency derivative to be eligible for hedge accounting
treatment, the following conditions have to be met:
\u25a0 Its hedging role must be clearly defined and documented at
the date of inception; and
\u25a0 Its effectiveness should be proved at the date of inception
and/or as long as it remains effective. If the hedge is
effective, changes in fair value or in cash flows of the
covered element must be almost entirely offset by the
changes in fair value or in cash flows of the derivative
instrument. The ineffectiveness is recorded in the
consolidated statement of income.
All derivative instruments are recorded and disclosed in the
statement of financial position at fair value:
\u25a0 Derivative instruments considered as hedging are
classified as non-current and current assets and liabilities,
as they follow the operating cycle; and
\u25a0 Derivative instruments not considered as hedging are also
classified as non-current and current assets and liabilities.
Changes in fair value are recognized as follows:
\u25a0 Regarding cash flow hedges, the portion of the gain or loss
corresponding to the effectiveness of the hedging
instrument is recorded directly in other comprehensive
income, and the ineffective portion of the gain or loss on the
hedging instrument is recorded in the statement of income.
The exchange gain or loss on derivative cash flow hedging
instruments, which is deferred in equity, is reclassified in the
net profit (loss) of the year(s) in which the specified hedged
transaction affects the statement of income;
\u25a0 The changes in fair value of derivative financial
instruments that qualify as fair value hedges are recorded
in the Other operating income (expense), net of the
statement of income. The ineffective portion of the gain or
loss is immediately recorded in the statement of income.
The\u00a0carrying amount of a hedged item is adjusted by the
gain or loss on this hedged item, which may be allocated
to the hedged risk and is recorded in the statement of
income;\u00a0and
\u25a0 The changes in fair value of derivative financial
instruments that do not qualify as hedging in accounting
standards are directly recorded in the statement
of\u00a0income.
Derivative financial instruments
The management of the Technip\u00a0Energies Group derivatives
and hedge accounting was carried out centrally by
Technip\u00a0Energies as of December\u00a031, 2025.
For purposes of mitigating the effect of changes in exchange
rates, Technip\u00a0Energies holds derivative financial instruments
to hedge the risks of certain identifiable and anticipated
transactions and recorded assets and liabilities in the
consolidated statement of financial position. The types of
risks hedged are those relating to the variability of future
earnings and cash flows caused by movements in foreign
currency exchange rates. The Technip\u00a0Energies Group\u2019s policy
is to hold derivatives only for the purpose of hedging risks
associated with anticipated foreign currency purchases and
sales created in the normal course of business and not for
trading purposes where the objective is solely or partially to
generate profit.
Generally, Technip\u00a0Energies enters hedging relationships so
that changes in the fair values or cash flows of the
transactions being hedged are expected to be offset by
corresponding changes in the fair value of the derivatives. For
derivative instruments that qualify as a cash flow hedge, the
effective portion of the gain or loss of the derivative, which
does not include the time value component of a forward
currency rate, is reported as a component of OCI and
reclassified into earnings in the same period or periods
during which the hedged transaction affects earnings. For
derivative instruments not designated as hedging
instruments, any change in the fair value of those
instruments is reflected in earnings in the period such
change occurs. For further information on foreign currency
risk exposure and management, refer to Note 28. Market-
related exposure.
Technip\u00a0Energies used the following types of derivative
instruments: foreign exchange rate forward contracts. In
general, embedded derivative instruments are separated
from the host contract if the economic characteristics and
risks of the embedded derivative instrument are not clearly
and closely related to those of the host contract and the
host contract is not marked-to-market at fair value. The
purpose of these instruments is to hedge the risk of changes
in future cash flows of highly probable purchase or sale
commitments denominated in foreign currencies and
recorded assets and liabilities in the consolidated statement
of financial position.
As of December\u00a031, 2025, and 2024, the Group held the following material net positions:
December\u00a031, 2025
December\u00a031, 2024
Net notional amount bought (sold)
Net notional amount bought (sold)
(In millions of currencies)
Local currency
Euro equivalent
Local currency
Euro equivalent
Australian dollar (AUD)
(5.0)
(2.8)
11.1
6.6
Thai baht (THB)
\u2014
\u2014
32.6
0.9
Canadian dollar (CAD)
1.0
0.6
\u2014
\u2014
Chinese yuan renminbi (CNY)
555.6
67.7
1,552.6
205.4
Euro (EUR)
(765.3)
(765.3)
126.0
126.0
Indian rupee (INR)
\u2014
\u2014
610.4
6.9
Polish zloty (PLN)
(12.7)
(3.0)
\u2014
\u2014
Japanese yen (JPY)
(1,320.3)
(7.2)
1,548.4
9.9
Kuwaiti dinar (KWD)
8.2
22.6
2.1
6.7
Malaysian ringgit (MYR)
8.0
1.7
68.9
14.9
Mexican peso (MXN)
588.2
27.9
57.3
2.7
Norwegian krone (NOK)
(109.6)
(9.3)
(55.3)
(4.7)
Pound sterling (GBP)
179.8
206.0
56.6
68.5
Qatari riyal (QAR)
80.0
18.7
20.0
5.3
Saudi riyal (SAR)
70.0
15.9
\u2014
\u2014
Singapore dollar (SGD)
20.0
13.2
38.0
26.9
South Korean Won (KRW)
4,041.0
2.4
12,842.6
8.4
Indonesian rupiah (IDR)
435,737.0
22.2
\u2014
\u2014
Swiss franc (CHF)
0.8
0.8
0.9
1.0
U.A.E. dirham (AED)
\u2014
\u2014
(5.0)
(1.3)
U.S. dollar (USD)
(541.3)
(460.9)
(497.2)
(480.1)
Fair value amounts for all outstanding derivative instruments have been determined using available market information and
commonly accepted valuation methodologies. Accordingly, the estimates presented may not be indicative of the amounts that
Technip\u00a0Energies would realize in a current market exchange and may not be indicative of the gains or losses Technip\u00a0Energies
may ultimately incur when these contracts are settled.
The following table presents the location and fair value amounts of derivative instruments reported in the consolidated
statement of financial position:
December\u00a031, 2025
December\u00a031, 2024
(In millions of \u20ac)
Assets
Liabilities
Assets
Liabilities
Derivatives designated as hedging instruments
Foreign exchange contracts
Current \u2013 Derivative financial instruments
38.3
9.1
7.4
35.5
Long-term \u2013 Derivative financial instruments
14.9
2.7
4.3
23.3
Total derivatives designated as hedging
instruments
53.2
11.8
11.7
58.8
Derivatives not designated as hedging
instruments
Foreign exchange contracts
Current \u2013 Derivative financial instruments
2.2
0.2
8.2
0.6
Long-term \u2013 Derivative financial instruments
\u2014
5.1
\u2014
\u2014
Total derivatives not designated as hedging
instruments
2.2
5.3
8.2
0.6
TOTAL DERIVATIVES
55.4
17.1
19.9
59.4
Cash flow hedges of forecasted transactions resulted in
accumulated other comprehensive (loss)/income of
\u20ac117.9\u00a0million and \u20ac(77.9)\u00a0million as of December\u00a031, 2025,
and 2024. The Technip\u00a0Energies Group expects to transfer an
approximate \u20ac42.3\u00a0million loss from accumulated other
comprehensive income to earnings during the next 12 months
when the anticipated transactions occur. All anticipated
transactions currently being hedged are expected to occur by
the third quarter of 2029.
The following table presents the location of gains (losses) in the consolidated statement of income related to derivative
instruments designated as cash flow hedges:
Gain\u00a0(Loss)\u00a0recognized\u00a0in\u00a0OCI
(Effective\u00a0Portion)
(In millions of \u20ac)
December\u00a031,
2025
December\u00a031,
2024
Foreign exchange contracts
Other comprehensive income/(loss)
140.1
(89.0)
The following table presents the location of cash flow hedge gain (loss) reclassified from accumulated other comprehensive
income into profit (loss):
Gain (Loss)\u00a0reclassified
from\u00a0accumulated OCI
into profit (loss) (Effective portion)
(In millions of \u20ac)
December\u00a031,
2025
December\u00a031,
2024
Foreign exchange contracts
Other income (expense), net
(22.1)
11.2
The following table presents the location of cash flow hedge gain (loss) recognized in profit (loss):
Gain\u00a0(Loss)\u00a0recognized\u00a0in\u00a0profit (loss)
(Ineffective\u00a0portion and amount
excluded\u00a0from effectiveness testing)
(In millions of \u20ac)
December\u00a031,
2025
December\u00a031,
2024
Foreign exchange contracts
Other income (expense), net
(8.6)
2.6
The following table presents the location of gains (losses) in the consolidated statement of income related to derivative
instruments not designated as hedging instruments:
Gain\u00a0(Loss)\u00a0recognized\u00a0in\u00a0profit
(loss)\u00a0on derivatives
(Instruments\u00a0not\u00a0designated
as\u00a0hedging instruments)
(In millions of \u20ac)
December\u00a031,
2025
December\u00a031,
2024
Foreign exchange contracts
Other income (expense), net
(3.1)
21.5
", "dimensions": { "concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-497": { "value": ".Derivative financial instruments and hedging
Initial recognition and subsequent measurement
The Technip\u00a0Energies Group uses derivative financial
instruments, such as forward contracts, swaps, and options
to hedge its risks, in particular foreign exchange risks. Such
derivative financial instruments are initially recognized at fair
value on the date on which a derivative contract is entered
into and are subsequently remeasured at fair value.
Derivatives are carried as financial assets when the fair value
is positive and as financial liabilities when the fair value
is\u00a0negative.
Currently, every derivative financial instrument held by the
Technip\u00a0Energies Group is aimed at hedging future cash
inflows or outflows against exchange rate fluctuations during
the period of contract performance. Derivative instruments
and in particular forward exchange transactions are aimed at
hedging future cash inflows or outflows against exchange
rate fluctuations in relation to awarded commercial
contracts.
To hedge its exposure to exchange rate fluctuations during
the bid period of construction contracts, the
Technip\u00a0Energies Group occasionally enters insurance
contracts under which foreign currencies are exchanged at a
specified rate and at a specified future date only if the new
contract is awarded. The premium that the Technip\u00a0Energies
Group pays to enter such an insurance contract is charged to
the statement of income when paid. If the commercial bid is
not successful, the insurance contract is automatically
terminated without any additional cash settlements or
penalties.
In some cases, the Technip\u00a0Energies Group may enter foreign
currency options for some proposals during the bid period.
These options cannot be eligible for hedging.
For the purpose of hedge accounting, instruments qualifying
as hedges are classified as:
\u25a0 Fair value hedges when hedging the exposure to changes
in the fair value of a recognized asset or liability or an
unrecognized firm commitment;
\u25a0 Cash flow hedges when hedging the exposure to variability
in cash flows that is either attributable to a particular risk
associated with a recognized asset or liability or a highly
probable forecasted transaction or the foreign currency
risk in an unrecognized firm commitment;
\u25a0 Hedges of a net investment in a foreign operation (the
Technip\u00a0Energies Group currently has no financial
instruments designated for such a hedging relationship).
Foreign currency treasury accounts designated for a contract
and used to finance its future expenses in foreign currencies
may qualify as a foreign currency cash flow hedge. Cash as a
hedging instrument is determined as cash less accounts
payable (including debts contracted on projects) plus
accounts receivable (including loans contracted on projects)
on reimbursable, services and completed contracts at closing
date.
An economic hedging may occasionally be obtained by
offsetting cash inflows and outflows on a single contract
(\u201cnatural hedging\u201d).
When implementing hedging transactions, each applicable
member of the Technip\u00a0Energies Group enters forward
exchange contracts with banks or with the member of the
Technip\u00a0Energies Group that performs centralized treasury
management for the Technip\u00a0Energies Group. However, only
instruments that involve a third party outside of
Technip\u00a0Energies are designated as hedging instruments.
At the inception of a hedge relationship, the Technip\u00a0Energies
Group formally designates and documents the hedge
relationship to which it intends to apply hedge accounting
and the risk management objective and strategy for
undertaking the hedge.
The documentation includes identification of the hedging
instrument, the hedged item or transaction, the nature of the
risk being hedged, and how Technip\u00a0Energies Group will
assess the effectiveness of changes in the hedging
instrument\u2019s fair value in offsetting the exposure to changes
in the hedged item\u2019s fair value or cash flows attributable to
the hedged risk. Such hedges are expected to be highly
effective in achieving offsetting changes in fair value or cash
flows and are assessed on an ongoing basis to determine
that they have been highly effective throughout the financial
reporting periods for which they were designated.
Hedges that meet all the qualifying criteria for hedge
accounting are accounted for as described below. The fair
value of derivative financial instruments is estimated based
on valuations provided by bank counterparties or financial
models commonly used in financial markets, using market
data as of the statement of financial position date.
A derivative instrument qualifies for hedge accounting (fair
value hedge or cash flow hedge) when there is a formal
designation and documentation of the hedging relationship,
and of the effectiveness of the hedge throughout the life of
the contract. A fair value hedge aims at reducing risks
incurred by changes in the market value of some assets,
liabilities, or firm commitments. A cash flow hedge aims at
reducing risks incurred by variations in the value of future
cash flows that may impact net profit (loss).
For a currency derivative to be eligible for hedge accounting
treatment, the following conditions have to be met:
\u25a0 Its hedging role must be clearly defined and documented at
the date of inception; and
\u25a0 Its effectiveness should be proved at the date of inception
and/or as long as it remains effective. If the hedge is
effective, changes in fair value or in cash flows of the
covered element must be almost entirely offset by the
changes in fair value or in cash flows of the derivative
instrument. The ineffectiveness is recorded in the
consolidated statement of income.
All derivative instruments are recorded and disclosed in the
statement of financial position at fair value:
\u25a0 Derivative instruments considered as hedging are
classified as non-current and current assets and liabilities,
as they follow the operating cycle; and
\u25a0 Derivative instruments not considered as hedging are also
classified as non-current and current assets and liabilities.
Changes in fair value are recognized as follows:
\u25a0 Regarding cash flow hedges, the portion of the gain or loss
corresponding to the effectiveness of the hedging
instrument is recorded directly in other comprehensive
income, and the ineffective portion of the gain or loss on the
hedging instrument is recorded in the statement of income.
The exchange gain or loss on derivative cash flow hedging
instruments, which is deferred in equity, is reclassified in the
net profit (loss) of the year(s) in which the specified hedged
transaction affects the statement of income;
\u25a0 The changes in fair value of derivative financial
instruments that qualify as fair value hedges are recorded
in the Other operating income (expense), net of the
statement of income. The ineffective portion of the gain or
loss is immediately recorded in the statement of income.
The\u00a0carrying amount of a hedged item is adjusted by the
gain or loss on this hedged item, which may be allocated
to the hedged risk and is recorded in the statement of
income;\u00a0and
\u25a0 The changes in fair value of derivative financial
instruments that do not qualify as hedging in accounting
standards are directly recorded in the statement
of\u00a0income", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-496": { "value": ".Derivative financial instruments and hedging
Initial recognition and subsequent measurement
The Technip\u00a0Energies Group uses derivative financial
instruments, such as forward contracts, swaps, and options
to hedge its risks, in particular foreign exchange risks. Such
derivative financial instruments are initially recognized at fair
value on the date on which a derivative contract is entered
into and are subsequently remeasured at fair value.
Derivatives are carried as financial assets when the fair value
is positive and as financial liabilities when the fair value
is\u00a0negative.
Currently, every derivative financial instrument held by the
Technip\u00a0Energies Group is aimed at hedging future cash
inflows or outflows against exchange rate fluctuations during
the period of contract performance. Derivative instruments
and in particular forward exchange transactions are aimed at
hedging future cash inflows or outflows against exchange
rate fluctuations in relation to awarded commercial
contracts.
To hedge its exposure to exchange rate fluctuations during
the bid period of construction contracts, the
Technip\u00a0Energies Group occasionally enters insurance
contracts under which foreign currencies are exchanged at a
specified rate and at a specified future date only if the new
contract is awarded. The premium that the Technip\u00a0Energies
Group pays to enter such an insurance contract is charged to
the statement of income when paid. If the commercial bid is
not successful, the insurance contract is automatically
terminated without any additional cash settlements or
penalties.
In some cases, the Technip\u00a0Energies Group may enter foreign
currency options for some proposals during the bid period.
These options cannot be eligible for hedging.
For the purpose of hedge accounting, instruments qualifying
as hedges are classified as:
\u25a0 Fair value hedges when hedging the exposure to changes
in the fair value of a recognized asset or liability or an
unrecognized firm commitment;
\u25a0 Cash flow hedges when hedging the exposure to variability
in cash flows that is either attributable to a particular risk
associated with a recognized asset or liability or a highly
probable forecasted transaction or the foreign currency
risk in an unrecognized firm commitment;
\u25a0 Hedges of a net investment in a foreign operation (the
Technip\u00a0Energies Group currently has no financial
instruments designated for such a hedging relationship).
Foreign currency treasury accounts designated for a contract
and used to finance its future expenses in foreign currencies
may qualify as a foreign currency cash flow hedge. Cash as a
hedging instrument is determined as cash less accounts
payable (including debts contracted on projects) plus
accounts receivable (including loans contracted on projects)
on reimbursable, services and completed contracts at closing
date.
An economic hedging may occasionally be obtained by
offsetting cash inflows and outflows on a single contract
(\u201cnatural hedging\u201d).
When implementing hedging transactions, each applicable
member of the Technip\u00a0Energies Group enters forward
exchange contracts with banks or with the member of the
Technip\u00a0Energies Group that performs centralized treasury
management for the Technip\u00a0Energies Group. However, only
instruments that involve a third party outside of
Technip\u00a0Energies are designated as hedging instruments.
At the inception of a hedge relationship, the Technip\u00a0Energies
Group formally designates and documents the hedge
relationship to which it intends to apply hedge accounting
and the risk management objective and strategy for
undertaking the hedge.
The documentation includes identification of the hedging
instrument, the hedged item or transaction, the nature of the
risk being hedged, and how Technip\u00a0Energies Group will
assess the effectiveness of changes in the hedging
instrument\u2019s fair value in offsetting the exposure to changes
in the hedged item\u2019s fair value or cash flows attributable to
the hedged risk. Such hedges are expected to be highly
effective in achieving offsetting changes in fair value or cash
flows and are assessed on an ongoing basis to determine
that they have been highly effective throughout the financial
reporting periods for which they were designated.
Hedges that meet all the qualifying criteria for hedge
accounting are accounted for as described below. The fair
value of derivative financial instruments is estimated based
on valuations provided by bank counterparties or financial
models commonly used in financial markets, using market
data as of the statement of financial position date.
A derivative instrument qualifies for hedge accounting (fair
value hedge or cash flow hedge) when there is a formal
designation and documentation of the hedging relationship,
and of the effectiveness of the hedge throughout the life of
the contract. A fair value hedge aims at reducing risks
incurred by changes in the market value of some assets,
liabilities, or firm commitments. A cash flow hedge aims at
reducing risks incurred by variations in the value of future
cash flows that may impact net profit (loss).
For a currency derivative to be eligible for hedge accounting
treatment, the following conditions have to be met:
\u25a0 Its hedging role must be clearly defined and documented at
the date of inception; and
\u25a0 Its effectiveness should be proved at the date of inception
and/or as long as it remains effective. If the hedge is
effective, changes in fair value or in cash flows of the
covered element must be almost entirely offset by the
changes in fair value or in cash flows of the derivative
instrument. The ineffectiveness is recorded in the
consolidated statement of income.
All derivative instruments are recorded and disclosed in the
statement of financial position at fair value:
\u25a0 Derivative instruments considered as hedging are
classified as non-current and current assets and liabilities,
as they follow the operating cycle; and
\u25a0 Derivative instruments not considered as hedging are also
classified as non-current and current assets and liabilities.
Changes in fair value are recognized as follows:
\u25a0 Regarding cash flow hedges, the portion of the gain or loss
corresponding to the effectiveness of the hedging
instrument is recorded directly in other comprehensive
income, and the ineffective portion of the gain or loss on the
hedging instrument is recorded in the statement of income.
The exchange gain or loss on derivative cash flow hedging
instruments, which is deferred in equity, is reclassified in the
net profit (loss) of the year(s) in which the specified hedged
transaction affects the statement of income;
\u25a0 The changes in fair value of derivative financial
instruments that qualify as fair value hedges are recorded
in the Other operating income (expense), net of the
statement of income. The ineffective portion of the gain or
loss is immediately recorded in the statement of income.
The\u00a0carrying amount of a hedged item is adjusted by the
gain or loss on this hedged item, which may be allocated
to the hedged risk and is recorded in the statement of
income;\u00a0and
\u25a0 The changes in fair value of derivative financial
instruments that do not qualify as hedging in accounting
standards are directly recorded in the statement
of\u00a0income", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-499": { "value": "
The Technip\u00a0Energies Group uses derivative financial
instruments, such as forward contracts, swaps, and options
to hedge its risks, in particular foreign exchange risks. Such
derivative financial instruments are initially recognized at fair
value on the date on which a derivative contract is entered
into and are subsequently remeasured at fair value.
Derivatives are carried as financial assets when the fair value
is positive and as financial liabilities when the fair value
is\u00a0negative.
All derivative instruments are recorded and disclosed in the
statement of financial position at fair value:
\u25a0 Derivative instruments considered as hedging are
classified as non-current and current assets and liabilities,
as they follow the operating cycle; and
\u25a0 Derivative instruments not considered as hedging are also
classified as non-current and current assets and liabilities.
Changes in fair value are recognized as follows:
\u25a0 Regarding cash flow hedges, the portion of the gain or loss
corresponding to the effectiveness of the hedging
instrument is recorded directly in other comprehensive
income, and the ineffective portion of the gain or loss on the
hedging instrument is recorded in the statement of income.
The exchange gain or loss on derivative cash flow hedging
instruments, which is deferred in equity, is reclassified in the
net profit (loss) of the year(s) in which the specified hedged
transaction affects the statement of income;
\u25a0 The changes in fair value of derivative financial
instruments that qualify as fair value hedges are recorded
in the Other operating income (expense), net of the
statement of income. The ineffective portion of the gain or
loss is immediately recorded in the statement of income.
The\u00a0carrying amount of a hedged item is adjusted by the
gain or loss on this hedged item, which may be allocated
to the hedged risk and is recorded in the statement of
income;\u00a0and
\u25a0 The changes in fair value of derivative financial
instruments that do not qualify as hedging in accounting
standards are directly recorded in the statement
of\u00a0income.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-500": { "value": "
Currently, every derivative financial instrument held by the
Technip\u00a0Energies Group is aimed at hedging future cash
inflows or outflows against exchange rate fluctuations during
the period of contract performance. Derivative instruments
and in particular forward exchange transactions are aimed at
hedging future cash inflows or outflows against exchange
rate fluctuations in relation to awarded commercial
contracts.
To hedge its exposure to exchange rate fluctuations during
the bid period of construction contracts, the
Technip\u00a0Energies Group occasionally enters insurance
contracts under which foreign currencies are exchanged at a
specified rate and at a specified future date only if the new
contract is awarded. The premium that the Technip\u00a0Energies
Group pays to enter such an insurance contract is charged to
the statement of income when paid. If the commercial bid is
not successful, the insurance contract is automatically
terminated without any additional cash settlements or
penalties.
In some cases, the Technip\u00a0Energies Group may enter foreign
currency options for some proposals during the bid period.
These options cannot be eligible for hedging.
For the purpose of hedge accounting, instruments qualifying
as hedges are classified as:
\u25a0 Fair value hedges when hedging the exposure to changes
in the fair value of a recognized asset or liability or an
unrecognized firm commitment;
\u25a0 Cash flow hedges when hedging the exposure to variability
in cash flows that is either attributable to a particular risk
associated with a recognized asset or liability or a highly
probable forecasted transaction or the foreign currency
risk in an unrecognized firm commitment;
\u25a0 Hedges of a net investment in a foreign operation (the
Technip\u00a0Energies Group currently has no financial
instruments designated for such a hedging relationship).
Foreign currency treasury accounts designated for a contract
and used to finance its future expenses in foreign currencies
may qualify as a foreign currency cash flow hedge. Cash as a
hedging instrument is determined as cash less accounts
payable (including debts contracted on projects) plus
accounts receivable (including loans contracted on projects)
on reimbursable, services and completed contracts at closing
date.
An economic hedging may occasionally be obtained by
offsetting cash inflows and outflows on a single contract
(\u201cnatural hedging\u201d).
When implementing hedging transactions, each applicable
member of the Technip\u00a0Energies Group enters forward
exchange contracts with banks or with the member of the
Technip\u00a0Energies Group that performs centralized treasury
management for the Technip\u00a0Energies Group. However, only
instruments that involve a third party outside of
Technip\u00a0Energies are designated as hedging instruments.
At the inception of a hedge relationship, the Technip\u00a0Energies
Group formally designates and documents the hedge
relationship to which it intends to apply hedge accounting
and the risk management objective and strategy for
undertaking the hedge.
The documentation includes identification of the hedging
instrument, the hedged item or transaction, the nature of the
risk being hedged, and how Technip\u00a0Energies Group will
assess the effectiveness of changes in the hedging
instrument\u2019s fair value in offsetting the exposure to changes
in the hedged item\u2019s fair value or cash flows attributable to
the hedged risk. Such hedges are expected to be highly
effective in achieving offsetting changes in fair value or cash
flows and are assessed on an ongoing basis to determine
that they have been highly effective throughout the financial
reporting periods for which they were designated.
Hedges that meet all the qualifying criteria for hedge
accounting are accounted for as described below. The fair
value of derivative financial instruments is estimated based
on valuations provided by bank counterparties or financial
models commonly used in financial markets, using market
data as of the statement of financial position date.
A derivative instrument qualifies for hedge accounting (fair
value hedge or cash flow hedge) when there is a formal
designation and documentation of the hedging relationship,
and of the effectiveness of the hedge throughout the life of
the contract. A fair value hedge aims at reducing risks
incurred by changes in the market value of some assets,
liabilities, or firm commitments. A cash flow hedge aims at
reducing risks incurred by variations in the value of future
cash flows that may impact net profit (loss).
For a currency derivative to be eligible for hedge accounting
treatment, the following conditions have to be met:
\u25a0 Its hedging role must be clearly defined and documented at
the date of inception; and
\u25a0 Its effectiveness should be proved at the date of inception
and/or as long as it remains effective. If the hedge is
effective, changes in fair value or in cash flows of the
covered element must be almost entirely offset by the
changes in fair value or in cash flows of the derivative
instrument. The ineffectiveness is recorded in the
consolidated statement of income.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForHedgingExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-502": { "value": ".Trade receivables
Trade receivables are amounts due from customers for goods
sold or services performed in the ordinary course of business.
Trade receivables are recognized initially at the amount of
consideration that is unconditional unless they contain
significant financing components, when they are recognized at
fair value. The Technip\u00a0Energies Group holds trade receivables
with the objective of collecting the contractual cash flows and
therefore measures them subsequently at amortized cost using
the effective interest method.
Impairment of trade receivables
Technip\u00a0Energies Group applies the IFRS\u00a09 simplified
approach to measuring expected credit losses, which uses a
lifetime expected loss allowance for all trade receivables and
contract assets. The Technip\u00a0Energies Group\u2019s trade
receivables and contract assets constitute a homogeneous
portfolio. Therefore, to measure the expected credit losses,
trade receivables and contract assets have been grouped
based on a selection of the members of the Technip\u00a0Energies
Group that cover a representative part of the
Technip\u00a0Energies Group\u2019s trade receivables and contract
assets at each period end. Contract assets relate to unbilled
work in progress and have substantially the same risk
characteristics as the trade receivables for the same types of
contracts. The Technip\u00a0Energies Group has therefore concluded
that the expected loss rates for trade receivables are a
reasonable approximation of the loss rates for contract assets.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-501": { "value": ".Trade receivables
Trade receivables are amounts due from customers for goods
sold or services performed in the ordinary course of business.
Trade receivables are recognized initially at the amount of
consideration that is unconditional unless they contain
significant financing components, when they are recognized at
fair value. The Technip\u00a0Energies Group holds trade receivables
with the objective of collecting the contractual cash flows and
therefore measures them subsequently at amortized cost using
the effective interest method.
Impairment of trade receivables
Technip\u00a0Energies Group applies the IFRS\u00a09 simplified
approach to measuring expected credit losses, which uses a
lifetime expected loss allowance for all trade receivables and
contract assets. The Technip\u00a0Energies Group\u2019s trade
receivables and contract assets constitute a homogeneous
portfolio. Therefore, to measure the expected credit losses,
trade receivables and contract assets have been grouped
based on a selection of the members of the Technip\u00a0Energies
Group that cover a representative part of the
Technip\u00a0Energies Group\u2019s trade receivables and contract
assets at each period end. Contract assets relate to unbilled
work in progress and have substantially the same risk
characteristics as the trade receivables for the same types of
contracts. The Technip\u00a0Energies Group has therefore concluded
that the expected loss rates for trade receivables are a
reasonable approximation of the loss rates for contract assets.
Note 18.Trade receivables and contract assets
These line items represent trade receivables from contracts and contract assets. Given the nature of Technip\u00a0Energies\u2019
operations, its clients are mainly companies operating in the energy sector.
Valuation allowances for trade receivables and contract assets have changed as shown in the following table:
December\u00a031, 2025
December\u00a031, 2024
(In millions of \u20ac)
Trade receivables
Contract assets
Trade receivables
Contract assets
Gross amount
1,476.3
382.1
1,173.8
482.3
Opening loss allowance
(77.1)
(1.1)
(142.1)
(0.7)
Change in expected credit loss
(1.1)
0.1
(0.4)
(0.4)
Increase in loss allowance
(22.5)
\u2014
(9.3)
\u2014
Used allowance reversals
6.9
\u2014
12.7
\u2014
Unused allowance reversals
13.5
\u2014
21.9
\u2014
Effects of foreign exchange
3.1
\u2014
(2.3)
\u2014
Other
0.2
\u2014
42.5
\u2014
Closing loss allowance
(77.0)
(1.0)
(77.0)
(1.1)
TOTAL, NET
1,399.3
381.2
1,096.8
481.3
Credit risk details and risk management objectives are discussed in Note 28. Market-related exposure .
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-504": { "value": ".Cash and cash equivalents
Cash and cash equivalents consist of cash in bank and in
hand, as well as short-term investments that are readily
convertible into a known amount of cash and where the risk
of a change in their value is deemed to be negligible based
on the criteria set out in IAS\u00a07. Securities are measured at
their market value at year-end. Any change in fair value is
recorded in the statement of income.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-503": { "value": ".Cash and cash equivalents
Cash and cash equivalents consist of cash in bank and in
hand, as well as short-term investments that are readily
convertible into a known amount of cash and where the risk
of a change in their value is deemed to be negligible based
on the criteria set out in IAS\u00a07. Securities are measured at
their market value at year-end. Any change in fair value is
recorded in the statement of income.
Note 19.Cash and cash equivalents
Cash and cash equivalents were as follows:
(In millions of \u20ac)
December\u00a031, 2025
December\u00a031, 2024
Cash on hand and bank balances
850.1
854.4
Short-term investments
2,793.3
2,992.2
Total cash and cash equivalents
3,643.5
3,846.7
Euro (EUR)
1,894.2
1,805.3
U.S. dollar (USD)
1,476.6
1,733.9
Indian rupee (INR)
54.5
31.2
Chinese yuan renminbi (CNY)
42.7
44.7
Japanese yen (JPY)
30.5
37.1
Rupiah (IDR)
26.3
12.6
Pound sterling (GBP)
17.6
45.0
Azerbaijani manat (AZN)
16.4
16.3
Other (less than \u20ac15 million individually)
84.7
120.6
TOTAL CASH AND CASH EQUIVALENTS BY CURRENCY
3,643.5
3,846.7
A substantial portion of cash and securities are recorded or
invested in either euro or U.S. dollar, which are frequently
used by the Group within the framework of its commercial
relationships. Cash and securities in other currencies
correspond either to deposits retained by subsidiaries
located in countries where such currencies are the national
currencies to ensure their own liquidity, or to amounts
received from customers prior to the payment of expenses in
these same currencies or the payment of dividends. Short-
term deposits are classified as cash equivalents along with
other securities.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-506": { "value": ".Share-based compensation
The Group grants performance shares to Executive Officers
and some employees. These plans are subject to a continued
service condition and performance conditions. The share-
based plans are accounted for in accordance with IFRS\u00a02
\u201cShare-based payments\u201d (\u201cIFRS\u00a02\u201d).
Within the Company there are three types of share-based
payment plans that qualify as equity-settled:
\u25a0 Restricted Share Unit (RSU);
\u25a0 Performance Share Unit (PSU);
\u25a0 Stock Options.
The measurement of share-based compensation expense on
restricted share awards is based on the market price at the
grant date and the number of shares awarded. The fair value
of performance shares is estimated using a combination of
the closing stock price on the grant date and the Monte Carlo
simulation model.
Technip\u00a0Energies uses the Black-Scholes options pricing
model to measure the fair value of share options granted,
excluding from such valuation the service and non-market
performance conditions (which are considered in the
expected number of awards that will ultimately vest) but
including market conditions (Note 8. Share-based
compensation).
The share-based compensation expense for each award is
recognized during the vesting period (i.e., the period in which
the service and, where applicable, the performance
conditions are fulfilled). The cumulative expense recognized
for share-based employee compensation at each reporting
date reflects the already expired portion of the vesting period
and the Technip\u00a0Energies Group\u2019s best estimate of the
number of awards that will ultimately vest. The expense or
credit in the statement of income for a period represents the
movement in cumulative expense recognized as at the
beginning and end of that period.
Note 8.Share-based compensation
8.1.Performance and restricted shares
The total share-based compensation expense recognized over the period and the expense not yet recognized are as follows:
(In millions of \u20ac)
December\u00a031,
2025
December\u00a031,
2024
Share-based compensation expense
(16.9)
(18.4)
Share-based compensation expense not yet recognized
(20.9)
(21.8)
For the performance share units (\u201cPSU\u201d) which vest based on Total Shareholder Return (\u201cTSR\u201d), the fair value at grant date is
independently determined using a Monte Carlo model. The fair value of performance shares and the assumptions used to
measure it are as follows:
(In \u20ac, except %)
December\u00a031,
2025
December\u00a031,
2024
Fair value
31.1
23.8
Expected volatility (a)
34.9%
37.8%
Risk-free interest rate (b)
2.2%
2.5%
Expected performance period in years
3.0
3.0
(a)Expected volatility is based on the historical volatility of our shares over a preceding period until the plan grant date.
(b)Risk-free interest rate is the rate applied by monetary zone for the securities of the peer group.
a.2025 Performance shares program under the
Technip\u00a0Energies N.V. Incentive Award Plan
The Compensation Committee of the Board of Directors, at
its meeting of February\u00a024, 2025, approved the terms of the
2025 Long-Term Incentive Program, and the LTI performance
metrics. Under this program, certain Employees, Senior
Executives, Executive Committee members or Officers
benefit from performance stock units (\u201cPSUs\u201d) that vest
subject to achieving satisfactory performance indicators and/
or from restricted stock units (\u201cRSUs\u201d) that vest subject to
continuous presence within the Group.
The performance indicators that rule performance criteria of
the PSUs are consistent with the ones ruling the 2024
program:
\u25a0 The Total Shareholder Return (\u201cTSR\u201d) represents 37.5% of
performance conditions mix. The TSR peer group to
assess Technip\u00a0Energies is composed of 10 reference
companies;
\u25a0 Earnings Per Share (\u201cEPS\u201d) has been set as a second
financial indicator for 37.5% of performance conditions
mix;
\u25a0 An ESG performance metric, representing 25.0% of PSU
performance conditions, combines 2 Performance
Indicators. They are evenly weighted and described below:
\u2022 46% reduction in Scope\u00a01 and 2 GHG emissions by
2027,
\u2022 33% of women in total workforce by 2027.
The fair value of such PSUs is estimated using both a Monte
Carlo simulation model and closing stock price at the grant
date, whereas RSU fair value is based on the closing stock
price at the grant date.
Under the 2025 Program, \u20ac17.5\u00a0million was authorized for
awards. A first grant of 540,214 shares (318,899 PSUs and
221,315 RSUs), representing \u20ac16.9\u00a0million at \u20ac31.26 (closing
stock price at the grant date) was made on March\u00a021, 2025.
Then, a second grant of 18,892 shares (9,446 PSUs and 9,446
RSUs), representing \u20ac0.8\u00a0million at \u20ac40.34 (closing stock
price at the grant date) was made on September\u00a022, 2025.
Performance Shares generally vest after three years of
service, with a maximum performance condition for PSUs of
175%.
Share-based compensation expense is recognized ratably
over the vesting period. Exceptions to the service period are
the death or disability of the employee upon which vesting
accelerates.
b.Vesting of 2022 Long-Term Incentive
programs
On February\u00a028, 2022, the Compensation Committee
delegated to the Chief Executive Officer the decision to
implement the granting of Performance Shares under the
2022 Program. Main grant and additional grant of these
Performance Shares were allocated respectively as of
March\u00a028, 2022, and September\u00a019, 2022 by the Chief
Executive Officer under the 2022 Program pursuant to his
decision.
March\u00a028, 2022 program
The Compensation Committee, by written resolution on
February\u00a024, 2025, approved the performance conditions for
the period concerning the PSUs (based on the TSR, EPS and
ESG metrics), with a consolidated payout reaching 170.6% (as
described in section\u00a06.5.3 of the Annual Report) in
accordance with the terms of the \u201c2022 - Technip Energies
N.V. Incentive Award Plan\u201d.
Out of the 1,659,182 rights (897,084 PSUs and 762,098 RSUs)
granted to certain Employees, Senior Executives, Executive
Committee members and the CEO:
\u25a0 2,100,080 shares (1,409,037 PSUs and 691,043 RSUs) were
vested on March\u00a028, 2025, at an acquisition price of
\u20ac30.36 per share (Technip Energies\u2019 stock price on the
vesting date, i.e., the opening of the Paris stock exchange
market on March\u00a028, 2025), for the grantee having fulfilled
the presence conditions for PSUs and RSUs (3 years of
service) and after having applied 170.6% performance
conditions for PSUs;
\u25a0 142,068 rights were forfeited due to the unfulfillment of
presence condition from the grantees, according to the
requirement of program terms and conditions.
September\u00a019, 2022 program - (2nd Tranche Vesting)
The Compensation Committee, by written resolution on
February\u00a024, 2025, approved the performance conditions for the
period concerning the PSUs (based on the TSR, EPS and ESG
metrics), with a consolidated payout reaching 170.6% (as
described in section\u00a06.5.3 of the Annual Report), in accordance
with the terms of the \u201c2022 - Technip\u00a0Energies\u00a0N.V. Incentive
Award Plan\u201d.
Out of the 167,476 rights (94,792 PSUs and 72,684 RSUs)
granted:
\u25a0 179,755 shares (127,260 PSUs and 52,495 RSUs) were
vested on September\u00a019, 2025, at an acquisition price of
\u20ac40.80 per share (Technip\u00a0Energies\u2019 stock price on the
vesting date, i.e., the opening of the Paris stock exchange
market on September\u00a019, 2025), the grantee having
fulfilled the presence conditions for PSUs and after having
applied 170.6% performance conditions;
\u25a0 43,240 shares were forfeited due to the unfulfillment of
presence condition from the grantee, according to the
requirement of program terms and conditions.
The number of shares for employee benefits recognized as vested or forfeited in addition to new grants as of December\u00a031,
2025 is described below:
LTI Plan
Approval date
(Board\u00a0of\u00a0Directors)
Grant date
Vesting date
Number
of
shares
granted
Number
of PSU
granted
Number
of RSU
granted
Number
of
shares
forfeited
/expired
Number
of shares
vested
Number
of out-
standing
rights
2022 LTI - March (* )
February 28, 2022
March 28, 2022
March 28, 2025
1,659,182
897,084
762,098
142,068
2,100,080
\u2014
2022 LTI - Sept (** )
February 28, 2022
September 19,
2022
September 19,
2025
167,476
94,792
72,684
43,240
179,755
\u2014
2023 LTI - March
February 27, 2023
March 23, 2023
March 23, 2026
804,980
477,233
327,747
63,752
\u2014
741,228
2023 LTI - Sept
February 27, 2023
September 22,
2023
September 22,
2026
36,140
18,070
18,070
2,402
\u2014
33,738
2024 LTI - March
February 26, 2024
March 22, 2024
March 22, 2027
693,487
414,357
279,130
26,928
\u2014
666,559
2024 LTI - Sept
February 26, 2024
September 23,
2024
September 23,
2027
55,757
27,883
27,874
\u2014
\u2014
55,757
2025 LTI - March
February 24, 2025
March 21, 2025
March 21, 2028
540,214
318,899
221,315
5,674
\u2014
534,540
2025 LTI - Sept
February 24, 2025
September 22,
2025
September 22,
2028
18,892
9,446
9,446
\u2014
\u2014
18,892
(*)Vested shares 1,517,114 resulting in 2,100,080 shares (1,409,037 PSUs and 691,043 RSUs) delivered to employees considering an average of 170.6%
performance conditions for PSUs.
(**)Vested shares 124,236 resulting in 179,755 shares (127,260 PSUs and 52,495 RSUs) delivered to employees considering an average of 170.6%
performance conditions for PSUs.
8.2.Stock options
During the years ended December\u00a031, 2025, and 2024, there were no movements regarding stock options.
", "dimensions": { "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-505": { "value": ".Share-based compensation
The Group grants performance shares to Executive Officers
and some employees. These plans are subject to a continued
service condition and performance conditions. The share-
based plans are accounted for in accordance with IFRS\u00a02
\u201cShare-based payments\u201d (\u201cIFRS\u00a02\u201d).
Within the Company there are three types of share-based
payment plans that qualify as equity-settled:
\u25a0 Restricted Share Unit (RSU);
\u25a0 Performance Share Unit (PSU);
\u25a0 Stock Options.
The measurement of share-based compensation expense on
restricted share awards is based on the market price at the
grant date and the number of shares awarded. The fair value
of performance shares is estimated using a combination of
the closing stock price on the grant date and the Monte Carlo
simulation model.
Technip\u00a0Energies uses the Black-Scholes options pricing
model to measure the fair value of share options granted,
excluding from such valuation the service and non-market
performance conditions (which are considered in the
expected number of awards that will ultimately vest) but
including market conditions (Note 8. Share-based
compensation).
The share-based compensation expense for each award is
recognized during the vesting period (i.e., the period in which
the service and, where applicable, the performance
conditions are fulfilled). The cumulative expense recognized
for share-based employee compensation at each reporting
date reflects the already expired portion of the vesting period
and the Technip\u00a0Energies Group\u2019s best estimate of the
number of awards that will ultimately vest. The expense or
credit in the statement of income for a period represents the
movement in cumulative expense recognized as at the
beginning and end of that period.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-509": { "value": ".Provisions
Provisions are recognized if and only if the following criteria
are simultaneously met:
\u25a0 The Technip\u00a0Energies Group has an ongoing obligation
(legal or constructive) as a result of a past event;
\u25a0 The settlement of the obligation will likely require an
outflow of resources embodying economic benefits
without expected counterpart; and
\u25a0 The amount of the obligation can be reliably estimated:
provisions are measured according to the risk assessment
or the exposed charge, based upon best-known elements.
Contingencies related to contracts
These provisions relate to claims and litigation on contracts.
Restructuring
Once a restructuring plan has been decided and the interested
parties have been informed, the plan is scheduled and valued.
Restructuring provisions are recognized in accordance with
IAS\u00a037 \u2013 Provisions, Contingent Liabilities and Contingent Assets
and presented within Impairment, Restructuring, and Other
Expense in the consolidated statement of income.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForContingentLiabilitiesAndContingentAssetsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-508": { "value": ".Provisions
Provisions are recognized if and only if the following criteria
are simultaneously met:
\u25a0 The Technip\u00a0Energies Group has an ongoing obligation
(legal or constructive) as a result of a past event;
\u25a0 The settlement of the obligation will likely require an
outflow of resources embodying economic benefits
without expected counterpart; and
\u25a0 The amount of the obligation can be reliably estimated:
provisions are measured according to the risk assessment
or the exposed charge, based upon best-known elements.
Contingencies related to contracts
These provisions relate to claims and litigation on contracts.
Restructuring
Once a restructuring plan has been decided and the interested
parties have been informed, the plan is scheduled and valued.
Restructuring provisions are recognized in accordance with
IAS\u00a037 \u2013 Provisions, Contingent Liabilities and Contingent Assets
and presented within Impairment, Restructuring, and Other
Expense in the consolidated statement of income.
Defined benefit asset (liability) recognized in the consolidated statement
of financial position
The liability recorded in the statement of financial position is as follows:
December\u00a031, 2025
December\u00a031, 2024
(In millions of \u20ac)
Defined
benefit
obligation
Fair value
of plan
assets
Net
defined
benefit
obligation
Defined
benefit
obligation
Fair value
of plan
assets
Net
defined
benefit
obligation
Defined benefit obligation as of the prior period end date
235.4
(103.1)
132.3
228.1
(103.4)
124.7
Acquisition/divestiture/business combination
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Expense as recorded in the statement of income
28.6
(5.5)
23.1
22.1
(4.0)
18.1
Total current service cost
15.6
\u2014
15.6
13.1
\u2014
13.1
Special events
3.0
\u2014
3.0
\u2014
\u2014
\u2014
Net financial costs
8.6
(5.5)
3.1
8.1
(4.0)
4.1
Actuarial gains of the year
1.4
\u2014
1.4
0.5
\u2014
0.5
Actuarial (gain) loss recognized in other comprehensive
income
(2.7)
2.6
(0.1)
(3.0)
2.2
(0.8)
Actuarial (gain) loss on defined benefit obligation
(2.7)
2.6
(0.1)
(3.0)
2.2
(0.8)
\u25a0 Experience
2.1
2.1
3.1
\u2014
3.1
\u25a0 Financial assumptions
(4.7)
\u2014
(4.7)
(5.2)
\u2014
(5.2)
\u25a0 Demographic assumptions
(0.1)
\u2014
(0.1)
(0.9)
\u2014
(0.9)
Actuarial (gain) loss on plan assets
\u2014
2.6
2.6
\u2014
2.2
2.2
Contributions and benefits paid
(17.8)
(34.6)
(52.4)
(14.6)
2.8
(11.8)
Contributions by employer
\u2014
(44.7)
(44.7)
\u2014
(2.8)
(2.8)
Benefits paid by employer
(7.7)
\u2014
(7.7)
(9.0)
\u2014
(9.0)
Benefits paid from plan assets
(10.1)
10.1
\u2014
(5.6)
5.6
\u2014
Exchange difference and other settlements
(8.4)
3.4
(5.0)
2.8
(0.7)
2.1
DEFINED BENEFIT OBLIGATION
AS OF THE PERIOD END DATE
235.1
(137.3)
97.8
235.4
(103.1)
132.3
As of December\u00a031, 2025, the defined benefit obligation included \u20ac172.1\u00a0million for funded plans (compared to \u20ac113.2\u00a0million in
2024) and \u20ac62.9\u00a0million for unfunded plans (compared to \u20ac122.2\u00a0million in 2024).
The breakdown of the net defined-benefit liability by type of benefit plans is as follows:
(In millions of \u20ac)
December\u00a031,
2025
December\u00a031,
2024
Pension plans
44.6
81.7
End-of-service benefits
41.8
42.4
Other long-term benefits
11.4
8.2
NET DEFINED BENEFIT OBLIGATION
97.8
132.3
The table below presents the liabilities per country:
December\u00a031, 2025
(In millions of \u20ac)
Defined benefit
obligation
Assets
Liabilities
France
61.8
(39.1)
38.5
The Netherlands
83.6
(79.4)
5.1
Other
26.8
(18.7)
54.2
TOTAL
172.2
(137.2)
97.8
Note 25.Provisions (non-current and current)
The principles used to evaluate the amounts and types of provisions for liabilities and charges are described in Note 1.
Accounting principles .
Movements in provisions in the year ended December\u00a031, 2025 , were as follows:
(In millions of \u20ac)
December\u00a031,
2024
Increase
Used
reversal
Unused
reversal
Other
December\u00a031,
2025
Contingencies related
to\u00a0contracts (1)
67.6
\u2014
(1.6)
(30.3)
(4.9)
30.7
Litigation
11.5
\u2014
(3.5)
\u2014
2.6
10.6
Restructuring obligations
10.1
0.5
(0.8)
\u2014
(7.8)
2.0
Provisions for claims
8.9
3.7
\u2014
\u2014
\u2014
12.5
Other non-current provisions
2.8
4.9
(0.5)
(3.1)
17.7
21.8
Total non-current provisions
100.8
9.1
(6.4)
(33.4)
7.6
77.6
Contingencies related
to\u00a0contracts (1)
85.7
57.1
(22.5)
(37.4)
4.5
87.4
Litigation
3.4
0.9
(0.2)
\u2014
(2.8)
1.3
Restructuring obligations
4.1
8.7
(9.3)
\u2014
1.0
4.4
Provisions for claims
3.3
8.7
(0.3)
(1.7)
\u2014
10.0
Other current provisions
12.6
6.4
(1.6)
\u2014
(10.3)
7.2
Total current provisions
109.1
81.8
(33.9)
(39.1)
(7.6)
110.2
TOTAL PROVISIONS
209.9
90.9
(40.3)
(72.5)
\u2014
187.9
(1)Provisions for project close-out.
Movements in provisions in the year ended December\u00a031, 2024, were as follows:
(In millions of \u20ac)
December\u00a031,
2023
Increase
Used
reversal
Unused
reversal
Other
December\u00a031,
2024
Contingencies related
to\u00a0contracts (1)
41.0
37.2
\u2014
\u2014
(10.6)
67.6
Litigation
15.2
\u2014
\u2014
(2.3)
(1.4)
11.5
Restructuring obligations
11.3
1.1
(0.8)
\u2014
(1.5)
10.1
Provisions for claims
8.3
0.6
\u2014
\u2014
\u2014
8.9
Other non-current provisions
4.3
0.5
\u2014
(0.6)
(1.4)
2.8
Total non-current provisions
80.1
39.3
(0.8)
(2.9)
(14.9)
100.8
Contingencies related
to\u00a0contracts (1)
130.4
41.9
(0.5)
(101.5)
15.4
85.7
Litigation
3.8
0.8
(1.2)
\u2014
\u2014
3.4
Restructuring obligations
5.2
3.5
(6.5)
\u2014
1.9
4.1
Provisions for claims
0.7
2.6
(0.1)
(0.1)
0.2
3.3
Other current provisions
8.6
2.2
(3.3)
(1.7)
6.8
12.6
Total current provisions
148.7
51.0
(11.6)
(103.3)
24.3
109.1
TOTAL PROVISIONS
228.8
90.3
(12.4)
(106.2)
9.4
209.9
", "dimensions": { "concept": "ifrs-full:DisclosureOfProvisionsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-507": { "value": ".Provisions
Provisions are recognized if and only if the following criteria
are simultaneously met:
\u25a0 The Technip\u00a0Energies Group has an ongoing obligation
(legal or constructive) as a result of a past event;
\u25a0 The settlement of the obligation will likely require an
outflow of resources embodying economic benefits
without expected counterpart; and
\u25a0 The amount of the obligation can be reliably estimated:
provisions are measured according to the risk assessment
or the exposed charge, based upon best-known elements.
Contingencies related to contracts
These provisions relate to claims and litigation on contracts.
Restructuring
Once a restructuring plan has been decided and the interested
parties have been informed, the plan is scheduled and valued.
Restructuring provisions are recognized in accordance with
IAS\u00a037 \u2013 Provisions, Contingent Liabilities and Contingent Assets
and presented within Impairment, Restructuring, and Other
Expense in the consolidated statement of income.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-510": { "value": ".Pensions and other long-term benefits
The Technip\u00a0Energies Group sponsors various end-of-service
and retirement employee benefit plans. Payments under such
employee benefit plans are made either on the date of the
employee\u2019s termination of service with the Technip\u00a0Energies
Group or at a subsequent date or dates in accordance with
the laws and practices of each country in which a participant
resides. Depending on the employing entity, the main defined
benefit plans can be:
\u25a0 End-of-service benefits, to be paid at the termination of
service;
\u25a0 Retirement benefits;
\u25a0 Jubilee benefits;
\u25a0 Post-retirement medical benefits (health care and life
insurance).
The Technip\u00a0Energies Group assesses its obligations in
respect of employee pension plans and other long-term
benefits such as \u201cjubilee benefits,\u201d post-retirement medical
benefits, special termination benefits and cash incentive
plans. The plan assets are recorded at fair value based on
recognized and uniform actuarial methods performed by an
independent actuary.
The obligations of providing benefits under defined benefit
plans are determined by independent actuaries using the
projected unit credit actuarial valuation method as per IAS\u00a019
\u201cEmployee Benefits\u201d (\u201cIAS\u00a019\u201d).
The actuarial assumptions used to determine the obligations
may vary depending on the country. The actuarial estimation
is based on usual parameters such as future wages,
salary\u00a0increase rate, life expectancy, staff turnover, and
inflation rate.
The defined benefit liability equals the present value of the
defined benefit obligation after deducting the plan assets.
The present value of the defined benefit obligation is
determined using present value of future cash disbursements
based on interest rates of corporate bonds, in the currency
used for benefit payment, and whose term is equal to the
average expected life of the defined benefit plan.
According to amended IAS\u00a019, the actuarial gains and losses
resulting from adjustments related to experience and
changes in actuarial assumptions are recorded in other
comprehensive income (see Note 24. Pensions and other
long-term employee benefit plans).
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-511": { "value": ".Deferred income tax
Deferred tax assets and liabilities are recognized in
accordance with IAS\u00a012 \u201cIncome Taxes\u201d (\u201cIAS\u00a012\u201d) and are
based on all temporary book-tax basis differences as of the
closing date measured at the tax rates that are expected to
apply to the period when the asset is realized or the liability
is settled, based on tax rates (and tax laws) that have
been\u00a0enacted or substantively enacted by the end of the
reporting\u00a0period.
Deferred tax assets and liabilities are reviewed at each
closing date to consider the effect of any changes in tax laws
and on the prospects of recovery.
Deferred income tax assets are recognized for all deductible
temporary differences, unused tax credit carryforwards, and
unused tax loss carry-forwards, to the extent that it is
probable that taxable profit will be available against which
the temporary differences can be utilized.
Deferred income tax liabilities are recognized for all taxable
temporary differences, except in certain specific
circumstances, in accordance with the provisions of IAS\u00a012.
Tax assets and liabilities are not discounted.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-512": { "value": ".Financial liabilities
Financial liabilities are classified, at initial recognition, as:
\u25a0 financial liabilities at fair value through profit or loss
(i.e.,\u00a0instruments held for trading including derivatives not
designated as hedging instruments and instruments
designated upon initial recognition at fair value through
profit or loss);
\u25a0 financial debt;
\u25a0 trade and other payables; or
\u25a0 derivatives designated as hedging instruments in an
effective hedge.
Financial liabilities are recognized initially at fair value and, in
the case of loans and borrowings and payables, net of
directly attributable transaction costs.
Financial liabilities at fair value through profit or loss
Financial liabilities are classified as held for trading if they
are incurred for the purpose of repurchasing in the near
term.
Gains or losses on liabilities held for trading are recognized in
the consolidated statement of income.
Financial debts (current and non-current)
Current and non-current financial debts include borrowings
and commercial paper programs. After initial recognition,
borrowings are measured at amortized cost using the
effective interest rate method. Transaction costs are
included in the cost of debt on the liability side of the
statement of financial position, as an adjustment to the
nominal amount of the debt. The difference between
the\u00a0initial debt and redemption at maturity is amortized at
the effective interest rate.
Derecognition
Financial liability is derecognized when the obligation under
the liability is discharged or canceled or expires. When an
existing financial liability is replaced by another from the
same lender on substantially different terms, or the terms of
an existing liability are substantially modified, such an
exchange or modification is treated as the derecognition of
the original liability and the recognition of a new liability.
The\u00a0difference in the respective carrying amounts is
recognized in the consolidated statement of income.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-513": { "value": "
Financial debts (current and non-current)
Current and non-current financial debts include borrowings
and commercial paper programs. After initial recognition,
borrowings are measured at amortized cost using the
effective interest rate method. Transaction costs are
included in the cost of debt on the liability side of the
statement of financial position, as an adjustment to the
nominal amount of the debt. The difference between
the\u00a0initial debt and redemption at maturity is amortized at
the effective interest rate.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-515": { "value": "
x.Inventories
Inventories and work-in-progress inventories are measured
at the lower of cost and net realizable value.
Cost includes all direct materials costs and direct labor
costs, general production costs and other costs incurred in
bringing the inventories to their present location and
condition.
The net realizable value is the estimated selling price in the
ordinary course of business, less the estimated costs of
completion and the estimated costs, to sell.
Inventories are valued using either the weight average cost or
the First-In, First-Out (\u201cFIFO\u201d) method, depending on the
type of inventories.
", "dimensions": { "concept": "ifrs-full:DisclosureOfInventoriesExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-514": { "value": "
x.Inventories
Inventories and work-in-progress inventories are measured
at the lower of cost and net realizable value.
Cost includes all direct materials costs and direct labor
costs, general production costs and other costs incurred in
bringing the inventories to their present location and
condition.
The net realizable value is the estimated selling price in the
ordinary course of business, less the estimated costs of
completion and the estimated costs, to sell.
Inventories are valued using either the weight average cost or
the First-In, First-Out (\u201cFIFO\u201d) method, depending on the
type of inventories.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-516": { "value": "Key judgments and estimates
The preparation of Technip\u00a0Energies\u2019 consolidated financial
statements requires the use of key judgments and estimates,
either at the balance sheet date or during the period that
affects reported amounts of assets, liabilities, incomes, and
expenses.
Management exercises its best judgment based upon its
experience and the circumstances prevailing as of the
reporting date. Judgments and estimates are reviewed
periodically, on an ongoing basis, and may be reassessed if
the circumstances and assumptions on which they were
based change, if new information becomes available, or
because of greater experience.
Consequently, the actual result from operations may differ
from these estimates. In addition, Technip\u00a0Energies Group\u2019s
exposure to risks is also discussed in Note 1. Accounting
principles and Note 28. Market-related exposure.
a.Judgments in applying accounting policies
Revenue recognition
Most of the Group\u2019s revenue is derived from long-term
contracts that can span several years. The Group accounts
for revenue in accordance with IFRS\u00a015, as described in
paragraph\u00a0b. Recognition of revenue from customer contracts
of Note\u00a01.5. Summary of significant accounting policies.
A significant portion of total revenue recognized over time
primarily relates to a large range of onshore facilities and
fixed and floating offshore facilities that involve the design,
engineering, manufacturing, construction, and assembly of
complex, customer-specific systems. Because of control
transferring over time, revenue is recognized based on the
extent of progress toward completion of the performance
obligation. The selection of the method to measure progress
toward completion requires judgment and is based on the
nature of the products or services to be provided. The Group
generally uses the cost-to-cost measure of progress for its
contracts because it best depicts the transfer of control to
the customer that occurs as the Group incurs costs on its
contracts.
Due to the nature of the work required to be performed on
performance obligations, the estimation of total revenue and
costs at completion is complex, subject to many variables,
and requires significant judgment. It is common for long-
term contracts to contain award fees, incentive fees, or other
provisions that can either increase or decrease the
transaction price. The estimated amounts in the transaction
price are included when management believes there is an
enforceable right to the modification, the amount can be
estimated reliably, and its realization is probable. The
estimated amounts are included in the transaction price to
the extent it is probable that a significant reversal of
cumulative revenue recognized will not occur when the
uncertainty associated with the variable consideration
is\u00a0resolved.
The Group executes contracts with its customers that clearly
describe the equipment, systems, and/or services. After
analyzing the drawings and specifications of the contract
requirements, project engineers estimate total contract costs
based on their experience with similar projects and then
adjust these estimates for specific risks associated with each
project, such as technical risks associated with a new design.
Costs associated with specific risks are estimated by
assessing the probability that conditions arising from these
specific risks will affect the total cost to complete the
project.
After work on a project begins, assumptions that form the
basis for the calculation of total project cost are examined
on a regular basis and estimates are updated to reflect the
most current information and management\u2019s best judgment.
Adjustments to estimates of contract revenue, total contract
cost, or extent of progress towards completion are often
required as work progresses under the contract and
as\u00a0experience is gained, even though the scope of work
required under the contract may not change. The nature of
accounting for long-term contracts is such that refinements
of the estimating process for changing conditions and new
developments are continuous and characteristic of
the\u00a0process.
Consequently, the amount of revenue recognized over time is
sensitive to changes in estimates of total contract costs.
There are many factors, including, but not limited to, the
ability to properly execute the engineering and design phases
consistent with customers\u2019 expectations, the availability and
costs of labor and material resources, productivity, and
weather, all of which can affect the accuracy of cost
estimates and, ultimately, future profitability.
b.Assumptions and sources of estimation
uncertainty
The key assumptions concerning the future and other key
sources of estimation uncertainty at the reporting date,
which could have a significant risk of causing a material
adjustment to the carrying amount of assets and liabilities
within the next financial year relate to:
\u25a0 Impairment of non-financial assets;
\u25a0 Income tax;
\u25a0 Accounting for pension and other post-retirement benefit
plans;
\u25a0 Provisions.
Impairment of non-financial assets
\u25aa Goodwill
Goodwill represents the excess of cost over the fair market
value of net assets acquired in business combinations.
Goodwill is not subject to amortization but is tested for
impairment at the level of CGU or GCGUs the goodwill has
been allocated to, on an annual basis, or more frequently if
impairment indicators arise. Management has established
September\u00a030 as the date of its annual test for impairment
of goodwill. Management identifies a potential impairment by
comparing the recoverable amount of the applicable CGU or
GCGUs to its carrying amount, including goodwill. If the
carrying amount exceeds the recoverable amount of the
applicable CGU or GCGUs, management measures the
impairment by comparing the carrying value of the CGU or
GCGUs to its recoverable amount. CGUs with goodwill are
tested for impairment using a quantitative impairment test.
Determining the recoverable amount of CGUs is judgmental
and involves the use of significant estimates and
assumptions. Management estimates the recoverable amount
of the Group CGUs using a discounted future cash flow
model. Most of the estimates and assumptions used in a
discounted future cash flow model on a post-tax basis
involve unobservable inputs reflecting management\u2019s own
assumptions about the assumptions market participants
would use in estimating the fair value of a business. These
estimates and assumptions include revenue growth rates and
operating margins used to calculate projected future cash
flows, discount rates, and future economic and market
conditions. The estimates are based upon assumptions
believed to be reasonable, but which are inherently uncertain
and unpredictable and do not reflect unanticipated events
and circumstances that may\u00a0occur.
A lower recoverable amount estimate in the future for any of
the Group\u2019s CGUs could result in goodwill impairment.
Factors that could trigger a lower recoverable amount
estimate include sustained price declines of the CGUs\u2019
products and services, cost increases, regulatory or political
environment changes, changes in customer demand, and
other changes in market conditions, which may affect certain
market participant assumptions used in the discounted
future cash flow model based on internal forecasts of
revenues and expenses over a specified period plus a
terminal value (the income approach).
The income approach estimates recoverable amount by
discounting each CGUs estimated future cash flows using a
weighted-average cost of capital that reflects current market
conditions and the risk profile of CGU\u2019s. To arrive at future
cash flows, management uses estimates of economic and
market assumptions, including growth rates in revenues,
costs, estimates of future expected changes in operating
margins, tax rates, and capital expenditures. Future revenues
are also adjusted to match changes in the Group business
strategy. Management believes this approach is an
appropriate valuation method and utilizes this approach in
determining the CGUs\u2019 valuations.
For additional information related to goodwill impairment
testing during the periods presented, refer to Note 14.
Goodwill and intangible assets.
\u25aa Property, plant and equipment and identifiable
intangible assets
Property, plant and equipment and identifiable intangible
assets being amortized are reviewed for impairment
whenever events or changes in circumstances indicate the
carrying amount of the non-financial assets may not be
recoverable. The carrying amount of a non-financial asset is
not recoverable if it exceeds the recoverable amount
determined as the higher of an asset\u2019s fair value less costs of
disposal and its value in use. If it is determined that an
impairment loss has occurred, the loss is measured as the
amount by which the carrying amount of the non-financial
asset exceeds its recoverable amount. The determination of
future value in use as well as the estimated fair value of
non-financial assets involves significant estimates on the
part of management. Because there is usually a lack of
quoted market prices for non-financial assets, fair value of
impaired assets is typically determined based on the present
values of expected future cash flows using discount rates
believed to be consistent with those used by principal
market participants or based on a multiple of operating cash
flow validated with historical market transactions of similar
assets where possible. The expected future cash flows used
for impairment reviews and related fair value calculations are
based on judgmental assessments of future productivity of
the asset, operating costs and capital decisions, and all
available information at the date of review. If future market
conditions deteriorate beyond current expectations and
assumptions, impairments of non-financial assets may be
identified if management concludes that the carrying
amounts are no longer recoverable.
Refer to paragraphs\u00a0h) Property, plant and equipment
and\u00a0j)\u00a0Intangible assets for estimates and accounting policies
relevant to those assets.
Income tax
Income tax expense, deferred tax assets and liabilities, and
reserves for uncertain tax positions reflect management\u2019s
best assessment of estimated future taxes to be paid. The
Group is subject to income taxes in France and numerous
other jurisdictions. Judgments and estimates are required in
determining the consolidated income tax expense.
In determining the current income tax provision,
management assesses temporary differences resulting from
differing treatments of items for tax and accounting
purposes. These differences result in deferred tax assets and
liabilities, which are recorded in the consolidated statement
of financial position. When management assesses deductible
temporary differences, including those originating from tax
losses carried forward, management must assess the
probability that these will be recovered through the future
taxable income. To the extent management believes recovery
is not probable, no deferred tax asset is recognized.
Management believes the assessment related to the
availability of future taxable income is a critical accounting
estimate because it is highly susceptible to change from
period to period, requires management to make assumptions
about future income over the period of deductible temporary
differences, and finally, the impact of increasing or
decreasing deferred tax assets is potentially material to the
results of operations.
Forecasting future income requires the use of a significant
amount of judgment. In estimating future income,
management uses internal operating budgets and long-range
planning projections. Management develops its budgets and
long-range projections based on recent results, trends,
economic and industry forecasts influencing the Group\u2019s
performance, its backlog, planned timing of new product
launches, and customer sales commitments. Significant
changes in management\u2019s judgment related to the expected
realizability of deductible temporary differences result in an
adjustment to the associated deferred tax asset.
The calculation of income tax expense involves dealing with
uncertainties in the application of complex tax laws and
regulations in numerous jurisdictions in which the Group
operates. Management recognizes tax benefits related to
uncertain tax positions when, in management\u2019s judgment, it
is more likely than not that such positions will be sustained
on examination, including resolutions of any related appeals
or litigation, based on the technical merits. Management
adjusts liabilities for uncertain tax positions when its
judgment changes because of new information previously
unavailable. Due to the complexity of some of these
uncertainties, their ultimate resolution may result in
payments that are materially different from current
estimates. Any such differences will be reflected as
adjustments to income tax expense in the periods in which
they are determined.
IFRIC\u00a023 \u201cUncertainty over Income Tax Treatments\u201d provides
guidance on how to recognize and measure uncertainty over
\u201cincome tax\u201d treatment as defined by paragraph\u00a05 of IAS\u00a012.
The Group analyses all the tax treatments impacting current
tax or deferred tax and reported or planned to be reported in
income tax filings that could be challenged by the tax
authorities. The tax assets and liabilities relating to these
uncertain tax treatments are\u00a0reviewed on a case-by-case
basis assuming full knowledge of the tax authorities and
measured at the most probable\u00a0amount.
For further information, refer to Note 13. Income tax.
Accounting for pension and other post-retirement
benefit plans
The determination of the projected benefit obligations of
pension and other post-retirement benefit plans is important
to the recorded amounts of such obligations in the
consolidated statement of financial position and to the
amount of pension expense in the consolidated statement of
income. To measure the projected benefit obligations of
pension and other post-retirement benefit plans and the
expense associated with such benefits, management must
make a variety of assumptions and estimates, including
discount rates used to value certain liabilities, rates of
compensation increase, employee turnover rates, retirement
rates, mortality rates, and other factors. Management
updates these assumptions and estimates on an annual basis
or more frequently upon the occurrence of significant events.
These accounting assumptions and estimates consider the
risk of change due to the uncertainty and difficulty in
estimating these measures. Different assumptions and
estimates used by management could result in recognition of
different amounts of expense over different periods of time.
The discount rate affects the interest cost component of net
periodic pension cost and the calculation of the projected
benefit obligation. The discount rate is based on rates at
which the pension benefit obligation could be effectively
settled on a present value basis. Discount rates are derived
by identifying a theoretical settlement portfolio of long-term,
high quality (\u201cAA\u201d rated) corporate bonds at determination
date that is sufficient to provide for the projected pension
benefit payments. A single discount rate is determined that
results in a discounted value of the pension benefit
payments that equate to the market value of the selected
bonds. The resulting discount rate is reflective of both the
current interest rate environment and the pension\u2019s distinct
liability characteristics. Significant changes in the discount
rate, such as those caused by changes in the yield curve, the
mix of bonds available in the market, the duration of
selected bonds, and the timing of expected benefit
payments, may result in volatility in pension expense and
pension liabilities.
Due to the specialized and statistical nature of these
calculations, which attempt to anticipate future events,
management engages third-party specialists to assist in
evaluating assumptions as well as appropriately measuring
the costs and obligations associated with these pension and
other post-retirement benefits.
The actuarial assumptions and estimates made by
management in determining pension and other post-
retirement benefit obligations may materially differ from
actual results because of changing market and economic
conditions and changes in plan participant assumptions.
While management believes the assumptions and estimates
used are appropriate, differences in actual experience or
changes in plan participant assumptions may materially
affect the Technip\u00a0Energies Group\u2019s financial position or
results of operations.
The Group\u2019s pension and other post-retirement obligations
are described in Note 24. Pensions and other long-term
employee benefit plans.
Provisions
The Group is involved in judicial or administrative litigation.
The process for assessing and measuring the risks related to
these proceedings is based on multiple factors that require
assumptions and estimates, particularly regarding the
assessment of uncertainties. Provisions are estimated based
on the Group best estimate of the expenditure required to
settle the obligations, considering all relevant information
available and different possible outcomes at the reporting
date.
1.7.Other sources of estimation
uncertainty
In the elaboration of its financial statements, the Group
considered as other sources of estimation uncertainty the
following:
\u25a0 Climate-related matters;
\u25a0 Macroeconomic conditions.
Climate-related matters
The Group considered climate-related matters in the
preparation of its financial statements and concluded to the
absence of material impacts on assets and liabilities
reported as well as those that may be recognized in the
future for the following reasons:
\u25a0 Technip\u00a0Energies generally acts as a contractor. As such,
its portfolio and positioning are evolving with the energy
transition unfolding landscape. The profile of projects and
services is directly linked to Group clients\u2019 investments to
transform energy production infrastructure, meet
environmental targets, and address the need to reduce
global warming and greenhouse gas emissions;
\u25a0 Due to its operating model, the Group does not hold
material tangible or intangible assets that could become
obsolete considering climate-related matters and would
therefore require a revision of estimated residual values or
expected useful lives. This also explains why none of the
Group\u2019s assets is forecasted to bear subsequent major
expenditures to cope with obsolescence or new legal
restrictions;
\u25a0 The Group has strong experience of conducting projects in
extreme weather conditions.
The specific positioning of the Group in the value chain
and the way Technip\u00a0Energies participates in the energy
transition is described in section\u00a03.2.5.\u00a0EU Green
Taxonomy.
Impairment of non-financial assets
The Group is engaged in activities and markets that are
designed to support the energy transition framework with a
business that combines its long-cycle high revenue operating
segment, Project Delivery, with its short-cycle higher margin
one, Technology, Products and Services.
Technip\u00a0Energies\u2019 commercial pipeline is balanced by market
and geography and further supports business expansion and
diversification, with one third of the pipeline dedicated to
decarbonization markets. In its 2025 Gas Report, the
International Energy Agency expects a rapid expansion of
low-emission gases through to 2030. Specifically, its outlook
forecasts that supply will increase 2.5 times between now
and 2030. In absolute terms, that corresponds to an increase
of over 20\u00a0billion cubic meters equivalent. It also points out
that Carbon Capture, Utilization and storage (CCUS) is
increasingly integrated in the outlook for LNG projects and
quotes as an example the CCUS hub designed to support the
North Field East LNG expansion, one of the first large LNG
projects to integrate CCUS from the design stage.
The business plan underpinning the impairment test
performed reflects Management expectations in terms of
exposure to climate risks, in relation to regulations, clients\u2019
expectations, or industry energy source shifts per geographic
area, and Technip\u00a0Energies\u2019 development in solutions in
hydrogen, offshore wind farms, ethylene, sustainable
chemistry, carbon-free energy, decarbonization projects, and
carbon capture.
In addition to the portfolio mix reflected in the prospective
financial information, the business plan used for the
impairment test captures the following elements:
\u25a0 Consideration of strategic initiatives: on circular economy
and textile regeneration, namely the Reju initiative, the
Group only captured short-term and early-stage setup
costs. For the initiative on the Green Hydrogen sector,
namely Rely, the Group captured the capital expenditures,
the costs and revenues in the business plan, and terminal
value;
\u25a0 Expenditures associated with climate: the Group business
plan also includes a substantial amount of expenditure,
for a total of \u20ac385.0\u00a0million. These expenses mostly relate
to the Group roadmap to reduce Scope\u00a01 and 2 emissions
by 90% in 2030 by optimizing the buildings portfolio (such
as the relocation of our teams in Houston, refurbishments
and optimization of owned and leased assets for offices)
as well as increased R&D allocated to energy transition,
and a portion of the remuneration that includes schemes
that incorporate sustainability-related performance
indicators.
Sensitivity performed on these expenditures, with a change
of -10%/+10%, would not lead to a risk of impairment.
Share-based compensation and remuneration policy
applied to Executive Director, Executive Committee
members, Senior Managers, and other key employees
The Compensation Committee of the Board of Directors has
granted to the Executive Director, Executive Committee
members, Senior Managers, and other key employees (e.g.,
technical experts, high potentials) a Long-Term Incentive
plan in the form of Performance Stock Units (PSUs) and
Restricted Stock Units (RSUs). The PSU vesting is subject to
the satisfactory achievement of performance conditions. As
of 2025, the performance conditions comprise the total
shareholder return (\u201cTSR\u201d), Earnings Per Shares (\u201cEPS\u201d) and a
set of two weighted ESG indicators directly derived from our
ESG Roadmap to support Technip\u00a0Energies\u2019 vision in
accelerating energy transition for a \u201cbetter tomorrow\u201d and to
strengthen the alignment with sustainable long-term value
creation. One of these indicators is a climate-friendly
objective: 50% reduction in Scope\u00a01 and 2 greenhouse gas
emissions by 2027.
In addition, the Executive Director\u2019s remuneration includes
incentive schemes that embed sustainability-related
performance indicators, notably the Short-Term Incentive
program with ESG KPIs derived from the Company\u2019s ESG
roadmap. These changes were introduced in 2023 and are
described in section\u00a06.5.1. Executive Director remuneration.
The ESG business performance indicators weighting is set to
25%.
Green financing
The terms and conditions of the Group financing agreements
do not include climate-friendly covenants or objectives,
except for the 2025 Revolving Facility for which the
applicable margin is adjusted based on the successful
completion by the Group of the 3 ESG key performance
indicators inherited from the former revolving facility:
reduction of carbon footprint, supporting of ESG ratings, and
improvement of gender diversity, which will be readjusted
moving forward.
Macroeconomic conditions
2025 was marked by a range of geopolitical and energy
issues, which have effects on Technip\u00a0Energies\u2019 consolidated
financial statements. The estimates described below have
been reviewed to take into consideration this specific
macroeconomic environment.
Assessment of U.S. trade policy evolution and tariff
implications
During the year ended December\u00a031, 2025, the U.S.
administration adopted new trade policies and imposed an
increase in tariffs on goods imported into the USA.
The Group\u2019s U.S. theoretical exposure is mostly related to its
Project Delivery operating segment where Technip Energies
acts as an engineering, procurement & construction (EPC)
contractor. Technip Energies has implemented relevant
contractual protections in the terms and conditions of its
projects to ensure that Technip Energies retains no risks or
exposure to tariffs, and this exposure is passed through to
the clients. As such, the direct impact of U.S. tariffs on its
earnings appears extremely limited.
The Group also closely monitors the impact of tariffs on the
supply chain and on how potential U.S. tariffs could increase
costs, impact margins for its clients, and ultimately slow
down project awards or investments. As a mitigation plan to
lower those risks, the Group has a flexible and geographically
diversified yard network and an extensive vendor list to
provide reliable options to its clients.
Trade tensions could indirectly affect our markets due to a
climate of international uncertainty and impact the global
macroeconomic environment. The Group will continue to
closely monitor such evolutions and take all relevant
measures.
Measurement of the present value
of the post-employment benefit obligations
Actuarial assumptions have been revalued (wage and
discount rate increase) to reflect the long-term economic
forecast. Assumptions used to assess post-retirement
valuation as of December\u00a031, 2025, include:
\u25a0 The discount rates set by reference to market yields on
high-quality corporate bonds (or government bonds in
countries where the market in such corporate bonds is
not deep);
\u25a0 The expected long-term inflation assumption set by
reference to the European Central Bank target;
\u25a0 The spread above the assumed long-term inflation to
derive the expected yearly salary increase.
Moreover, to consider increased volatility observed on key
assumptions such as discount rate and inflation rate,
sensitivities are disclosed based on +/- 50 bps ranges.
Impairment test of non-financial assets
During the year ended December\u00a031, 2025, the exposure to
inflation decreased but geopolitical uncertainty remains.
Within the impairment test, these risks and uncertainties
have been directly considered in the business plan with the
best estimates of the income and expenditure of the CGUs
according to industry projections and with Management
experience and future expectations, and indirectly through
the Weighted Average Cost of Capital (\u201cWACC\u201d), which
incorporates the recent decrease in risk-free rates and a
lower country risk premium.
The weighted average cost of capital per operating segment is as follows:
December\u00a031, 2025
December\u00a031, 2024
Project Delivery
10.3%
10.8%
Technology, Products & Services
9.0%
9.5%
Long-term growth rates used to estimate cash flow
projections beyond the period covered by the budgets
remained unchanged compared to last year at 2.3%.
The consideration of the above-mentioned did not lead to
the recognition of impairment, as described in Note 14.
Goodwill and intangible assets.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-517": { "value": "
b.Assumptions and sources of estimation
uncertainty
The key assumptions concerning the future and other key
sources of estimation uncertainty at the reporting date,
which could have a significant risk of causing a material
adjustment to the carrying amount of assets and liabilities
within the next financial year relate to:
\u25a0 Impairment of non-financial assets;
\u25a0 Income tax;
\u25a0 Accounting for pension and other post-retirement benefit
plans;
\u25a0 Provisions.
Impairment of non-financial assets
\u25aa Goodwill
Goodwill represents the excess of cost over the fair market
value of net assets acquired in business combinations.
Goodwill is not subject to amortization but is tested for
impairment at the level of CGU or GCGUs the goodwill has
been allocated to, on an annual basis, or more frequently if
impairment indicators arise. Management has established
September\u00a030 as the date of its annual test for impairment
of goodwill. Management identifies a potential impairment by
comparing the recoverable amount of the applicable CGU or
GCGUs to its carrying amount, including goodwill. If the
carrying amount exceeds the recoverable amount of the
applicable CGU or GCGUs, management measures the
impairment by comparing the carrying value of the CGU or
GCGUs to its recoverable amount. CGUs with goodwill are
tested for impairment using a quantitative impairment test.
Determining the recoverable amount of CGUs is judgmental
and involves the use of significant estimates and
assumptions. Management estimates the recoverable amount
of the Group CGUs using a discounted future cash flow
model. Most of the estimates and assumptions used in a
discounted future cash flow model on a post-tax basis
involve unobservable inputs reflecting management\u2019s own
assumptions about the assumptions market participants
would use in estimating the fair value of a business. These
estimates and assumptions include revenue growth rates and
operating margins used to calculate projected future cash
flows, discount rates, and future economic and market
conditions. The estimates are based upon assumptions
believed to be reasonable, but which are inherently uncertain
and unpredictable and do not reflect unanticipated events
and circumstances that may\u00a0occur.
A lower recoverable amount estimate in the future for any of
the Group\u2019s CGUs could result in goodwill impairment.
Factors that could trigger a lower recoverable amount
estimate include sustained price declines of the CGUs\u2019
products and services, cost increases, regulatory or political
environment changes, changes in customer demand, and
other changes in market conditions, which may affect certain
market participant assumptions used in the discounted
future cash flow model based on internal forecasts of
revenues and expenses over a specified period plus a
terminal value (the income approach).
The income approach estimates recoverable amount by
discounting each CGUs estimated future cash flows using a
weighted-average cost of capital that reflects current market
conditions and the risk profile of CGU\u2019s. To arrive at future
cash flows, management uses estimates of economic and
market assumptions, including growth rates in revenues,
costs, estimates of future expected changes in operating
margins, tax rates, and capital expenditures. Future revenues
are also adjusted to match changes in the Group business
strategy. Management believes this approach is an
appropriate valuation method and utilizes this approach in
determining the CGUs\u2019 valuations.
For additional information related to goodwill impairment
testing during the periods presented, refer to Note 14.
Goodwill and intangible assets.
\u25aa Property, plant and equipment and identifiable
intangible assets
Property, plant and equipment and identifiable intangible
assets being amortized are reviewed for impairment
whenever events or changes in circumstances indicate the
carrying amount of the non-financial assets may not be
recoverable. The carrying amount of a non-financial asset is
not recoverable if it exceeds the recoverable amount
determined as the higher of an asset\u2019s fair value less costs of
disposal and its value in use. If it is determined that an
impairment loss has occurred, the loss is measured as the
amount by which the carrying amount of the non-financial
asset exceeds its recoverable amount. The determination of
future value in use as well as the estimated fair value of
non-financial assets involves significant estimates on the
part of management. Because there is usually a lack of
quoted market prices for non-financial assets, fair value of
impaired assets is typically determined based on the present
values of expected future cash flows using discount rates
believed to be consistent with those used by principal
market participants or based on a multiple of operating cash
flow validated with historical market transactions of similar
assets where possible. The expected future cash flows used
for impairment reviews and related fair value calculations are
based on judgmental assessments of future productivity of
the asset, operating costs and capital decisions, and all
available information at the date of review. If future market
conditions deteriorate beyond current expectations and
assumptions, impairments of non-financial assets may be
identified if management concludes that the carrying
amounts are no longer recoverable.
Refer to paragraphs\u00a0h) Property, plant and equipment
and\u00a0j)\u00a0Intangible assets for estimates and accounting policies
relevant to those assets.
Income tax
Income tax expense, deferred tax assets and liabilities, and
reserves for uncertain tax positions reflect management\u2019s
best assessment of estimated future taxes to be paid. The
Group is subject to income taxes in France and numerous
other jurisdictions. Judgments and estimates are required in
determining the consolidated income tax expense.
In determining the current income tax provision,
management assesses temporary differences resulting from
differing treatments of items for tax and accounting
purposes. These differences result in deferred tax assets and
liabilities, which are recorded in the consolidated statement
of financial position. When management assesses deductible
temporary differences, including those originating from tax
losses carried forward, management must assess the
probability that these will be recovered through the future
taxable income. To the extent management believes recovery
is not probable, no deferred tax asset is recognized.
Management believes the assessment related to the
availability of future taxable income is a critical accounting
estimate because it is highly susceptible to change from
period to period, requires management to make assumptions
about future income over the period of deductible temporary
differences, and finally, the impact of increasing or
decreasing deferred tax assets is potentially material to the
results of operations.
Forecasting future income requires the use of a significant
amount of judgment. In estimating future income,
management uses internal operating budgets and long-range
planning projections. Management develops its budgets and
long-range projections based on recent results, trends,
economic and industry forecasts influencing the Group\u2019s
performance, its backlog, planned timing of new product
launches, and customer sales commitments. Significant
changes in management\u2019s judgment related to the expected
realizability of deductible temporary differences result in an
adjustment to the associated deferred tax asset.
The calculation of income tax expense involves dealing with
uncertainties in the application of complex tax laws and
regulations in numerous jurisdictions in which the Group
operates. Management recognizes tax benefits related to
uncertain tax positions when, in management\u2019s judgment, it
is more likely than not that such positions will be sustained
on examination, including resolutions of any related appeals
or litigation, based on the technical merits. Management
adjusts liabilities for uncertain tax positions when its
judgment changes because of new information previously
unavailable. Due to the complexity of some of these
uncertainties, their ultimate resolution may result in
payments that are materially different from current
estimates. Any such differences will be reflected as
adjustments to income tax expense in the periods in which
they are determined.
IFRIC\u00a023 \u201cUncertainty over Income Tax Treatments\u201d provides
guidance on how to recognize and measure uncertainty over
\u201cincome tax\u201d treatment as defined by paragraph\u00a05 of IAS\u00a012.
The Group analyses all the tax treatments impacting current
tax or deferred tax and reported or planned to be reported in
income tax filings that could be challenged by the tax
authorities. The tax assets and liabilities relating to these
uncertain tax treatments are\u00a0reviewed on a case-by-case
basis assuming full knowledge of the tax authorities and
measured at the most probable\u00a0amount.
For further information, refer to Note 13. Income tax.
Accounting for pension and other post-retirement
benefit plans
The determination of the projected benefit obligations of
pension and other post-retirement benefit plans is important
to the recorded amounts of such obligations in the
consolidated statement of financial position and to the
amount of pension expense in the consolidated statement of
income. To measure the projected benefit obligations of
pension and other post-retirement benefit plans and the
expense associated with such benefits, management must
make a variety of assumptions and estimates, including
discount rates used to value certain liabilities, rates of
compensation increase, employee turnover rates, retirement
rates, mortality rates, and other factors. Management
updates these assumptions and estimates on an annual basis
or more frequently upon the occurrence of significant events.
These accounting assumptions and estimates consider the
risk of change due to the uncertainty and difficulty in
estimating these measures. Different assumptions and
estimates used by management could result in recognition of
different amounts of expense over different periods of time.
The discount rate affects the interest cost component of net
periodic pension cost and the calculation of the projected
benefit obligation. The discount rate is based on rates at
which the pension benefit obligation could be effectively
settled on a present value basis. Discount rates are derived
by identifying a theoretical settlement portfolio of long-term,
high quality (\u201cAA\u201d rated) corporate bonds at determination
date that is sufficient to provide for the projected pension
benefit payments. A single discount rate is determined that
results in a discounted value of the pension benefit
payments that equate to the market value of the selected
bonds. The resulting discount rate is reflective of both the
current interest rate environment and the pension\u2019s distinct
liability characteristics. Significant changes in the discount
rate, such as those caused by changes in the yield curve, the
mix of bonds available in the market, the duration of
selected bonds, and the timing of expected benefit
payments, may result in volatility in pension expense and
pension liabilities.
Due to the specialized and statistical nature of these
calculations, which attempt to anticipate future events,
management engages third-party specialists to assist in
evaluating assumptions as well as appropriately measuring
the costs and obligations associated with these pension and
other post-retirement benefits.
The actuarial assumptions and estimates made by
management in determining pension and other post-
retirement benefit obligations may materially differ from
actual results because of changing market and economic
conditions and changes in plan participant assumptions.
While management believes the assumptions and estimates
used are appropriate, differences in actual experience or
changes in plan participant assumptions may materially
affect the Technip\u00a0Energies Group\u2019s financial position or
results of operations.
The Group\u2019s pension and other post-retirement obligations
are described in Note 24. Pensions and other long-term
employee benefit plans.
Provisions
The Group is involved in judicial or administrative litigation.
The process for assessing and measuring the risks related to
these proceedings is based on multiple factors that require
assumptions and estimates, particularly regarding the
assessment of uncertainties. Provisions are estimated based
on the Group best estimate of the expenditure required to
settle the obligations, considering all relevant information
available and different possible outcomes at the reporting
date.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAssetsAndLiabilitiesWithSignificantRiskOfMaterialAdjustmentExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-518": { "value": "b.Assumptions and sources of estimation uncertaintyThe key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, which could have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year relate to:\u25a0 Impairment of non-financial assets;\u25a0 Income tax;\u25a0 Accounting for pension and other post-retirement benefit plans;\u25a0 Provisions.Impairment of non-financial assets\u25aa GoodwillGoodwill represents the excess of cost over the fair market value of net assets acquired in business combinations. Goodwill is not subject to amortization but is tested for impairment at the level of CGU or GCGUs the goodwill has been allocated to, on an annual basis, or more frequently if impairment indicators arise. Management has established September\u00a030 as the date of its annual test for impairment of goodwill. Management identifies a potential impairment by comparing the recoverable amount of the applicable CGU or GCGUs to its carrying amount, including goodwill. If the carrying amount exceeds the recoverable amount of the applicable CGU or GCGUs, management measures the impairment by comparing the carrying value of the CGU or GCGUs to its recoverable amount. CGUs with goodwill are tested for impairment using a quantitative impairment test.Determining the recoverable amount of CGUs is judgmental and involves the use of significant estimates and assumptions. Management estimates the recoverable amount of the Group CGUs using a discounted future cash flow model. Most of the estimates and assumptions used in a discounted future cash flow model on a post-tax basis involve unobservable inputs reflecting management\u2019s own assumptions about the assumptions market participants would use in estimating the fair value of a business. These estimates and assumptions include revenue growth rates and operating margins used to calculate projected future cash flows, discount rates, and future economic and market conditions. The estimates are based upon assumptions believed to be reasonable, but which are inherently uncertain and unpredictable and do not reflect unanticipated events and circumstances that may\u00a0occur.A lower recoverable amount estimate in the future for any of the Group\u2019s CGUs could result in goodwill impairment. Factors that could trigger a lower recoverable amount estimate include sustained price declines of the CGUs\u2019 products and services, cost increases, regulatory or political environment changes, changes in customer demand, and other changes in market conditions, which may affect certain market participant assumptions used in the discounted future cash flow model based on internal forecasts of revenues and expenses over a specified period plus a terminal value (the income approach).The income approach estimates recoverable amount by discounting each CGUs estimated future cash flows using a weighted-average cost of capital that reflects current market conditions and the risk profile of CGU\u2019s. To arrive at future cash flows, management uses estimates of economic and market assumptions, including growth rates in revenues, costs, estimates of future expected changes in operating margins, tax rates, and capital expenditures. Future revenues are also adjusted to match changes in the Group business strategy. Management believes this approach is an appropriate valuation method and utilizes this approach in determining the CGUs\u2019 valuations.For additional information related to goodwill impairment testing during the periods presented, refer to Note 14. Goodwill and intangible assets.\u25aa Property, plant and equipment and identifiable intangible assetsProperty, plant and equipment and identifiable intangible assets being amortized are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of the non-financial assets may not be recoverable. The carrying amount of a non-financial asset is not recoverable if it exceeds the recoverable amount determined as the higher of an asset\u2019s fair value less costs of disposal and its value in use. If it is determined that an impairment loss has occurred, the loss is measured as the amount by which the carrying amount of the non-financial asset exceeds its recoverable amount. The determination of future value in use as well as the estimated fair value of non-financial assets involves significant estimates on the part of management. Because there is usually a lack of quoted market prices for non-financial assets, fair value of impaired assets is typically determined based on the present values of expected future cash flows using discount rates believed to be consistent with those used by principal market participants or based on a multiple of operating cash flow validated with historical market transactions of similar assets where possible. The expected future cash flows used for impairment reviews and related fair value calculations are based on judgmental assessments of future productivity of the asset, operating costs and capital decisions, and all available information at the date of review. If future market conditions deteriorate beyond current expectations and assumptions, impairments of non-financial assets may be identified if management concludes that the carrying amounts are no longer recoverable.Refer to paragraphs\u00a0h) Property, plant and equipment and\u00a0j)\u00a0Intangible assets for estimates and accounting policies relevant to those assets.Income taxIncome tax expense, deferred tax assets and liabilities, and reserves for uncertain tax positions reflect management\u2019s best assessment of estimated future taxes to be paid. The Group is subject to income taxes in France and numerous other jurisdictions. Judgments and estimates are required in determining the consolidated income tax expense.In determining the current income tax provision, management assesses temporary differences resulting from differing treatments of items for tax and accounting purposes. These differences result in deferred tax assets and liabilities, which are recorded in the consolidated statement of financial position. When management assesses deductible temporary differences, including those originating from tax losses carried forward, management must assess the probability that these will be recovered through the future taxable income. To the extent management believes recovery is not probable, no deferred tax asset is recognized. Management believes the assessment related to the availability of future taxable income is a critical accounting estimate because it is highly susceptible to change from period to period, requires management to make assumptions about future income over the period of deductible temporary differences, and finally, the impact of increasing or decreasing deferred tax assets is potentially material to the results of operations.Forecasting future income requires the use of a significant amount of judgment. In estimating future income, management uses internal operating budgets and long-range planning projections. Management develops its budgets and long-range projections based on recent results, trends, economic and industry forecasts influencing the Group\u2019s performance, its backlog, planned timing of new product launches, and customer sales commitments. Significant changes in management\u2019s judgment related to the expected realizability of deductible temporary differences result in an adjustment to the associated deferred tax asset.The calculation of income tax expense involves dealing with uncertainties in the application of complex tax laws and regulations in numerous jurisdictions in which the Group operates. Management recognizes tax benefits related to uncertain tax positions when, in management\u2019s judgment, it is more likely than not that such positions will be sustained on examination, including resolutions of any related appeals or litigation, based on the technical merits. Management adjusts liabilities for uncertain tax positions when its judgment changes because of new information previously unavailable. Due to the complexity of some of these uncertainties, their ultimate resolution may result in payments that are materially different from current estimates. Any such differences will be reflected as adjustments to income tax expense in the periods in which they are determined.IFRIC\u00a023 \u201cUncertainty over Income Tax Treatments\u201d provides guidance on how to recognize and measure uncertainty over \u201cincome tax\u201d treatment as defined by paragraph\u00a05 of IAS\u00a012. The Group analyses all the tax treatments impacting current tax or deferred tax and reported or planned to be reported in income tax filings that could be challenged by the tax authorities. The tax assets and liabilities relating to these uncertain tax treatments are\u00a0reviewed on a case-by-case basis assuming full knowledge of the tax authorities and measured at the most probable\u00a0amount.For further information, refer to Note 13. Income tax.Accounting for pension and other post-retirement benefit plansThe determination of the projected benefit obligations of pension and other post-retirement benefit plans is important to the recorded amounts of such obligations in the consolidated statement of financial position and to the amount of pension expense in the consolidated statement of income. To measure the projected benefit obligations of pension and other post-retirement benefit plans and the expense associated with such benefits, management must make a variety of assumptions and estimates, including discount rates used to value certain liabilities, rates of compensation increase, employee turnover rates, retirement rates, mortality rates, and other factors. Management updates these assumptions and estimates on an annual basis or more frequently upon the occurrence of significant events. These accounting assumptions and estimates consider the risk of change due to the uncertainty and difficulty in estimating these measures. Different assumptions and estimates used by management could result in recognition of different amounts of expense over different periods of time.The discount rate affects the interest cost component of net periodic pension cost and the calculation of the projected benefit obligation. The discount rate is based on rates at which the pension benefit obligation could be effectively settled on a present value basis. Discount rates are derived by identifying a theoretical settlement portfolio of long-term, high quality (\u201cAA\u201d rated) corporate bonds at determination date that is sufficient to provide for the projected pension benefit payments. A single discount rate is determined that results in a discounted value of the pension benefit payments that equate to the market value of the selected bonds. The resulting discount rate is reflective of both the current interest rate environment and the pension\u2019s distinct liability characteristics. Significant changes in the discount rate, such as those caused by changes in the yield curve, the mix of bonds available in the market, the duration of selected bonds, and the timing of expected benefit payments, may result in volatility in pension expense and pension liabilities.Due to the specialized and statistical nature of these calculations, which attempt to anticipate future events, management engages third-party specialists to assist in evaluating assumptions as well as appropriately measuring the costs and obligations associated with these pension and other post-retirement benefits.The actuarial assumptions and estimates made by management in determining pension and other post-retirement benefit obligations may materially differ from actual results because of changing market and economic conditions and changes in plan participant assumptions. While management believes the assumptions and estimates used are appropriate, differences in actual experience or changes in plan participant assumptions may materially affect the Technip\u00a0Energies Group\u2019s financial position or results of operations.The Group\u2019s pension and other post-retirement obligations are described in Note 24. Pensions and other long-term employee benefit plans.ProvisionsThe Group is involved in judicial or administrative litigation. The process for assessing and measuring the risks related to these proceedings is based on multiple factors that require assumptions and estimates, particularly regarding the assessment of uncertainties. Provisions are estimated based on the Group best estimate of the expenditure required to settle the obligations, considering all relevant information available and different possible outcomes at the reporting date.", "dimensions": { "concept": "ifrs-full:ExplanationOfAssumptionAboutFutureWithSignificantRiskOfResultingInMaterialAdjustments", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-519": { "value": "
Note 2.Changes in the scope of consolidation
Year ended December\u00a031, 2025
Acquisition of the Advanced Materials &
Catalysts business from Ecovyst Inc.
On December\u00a031, 2025, the Company acquired 100% of the
Advanced Materials & Catalysts business from Ecovyst Inc.
The acquired business consists of:
\u25a0 Advanced Silicas, a manufacturer and supplier of specialty
silica-based advanced materials and catalysts for plastics,
chemicals, and industrial applications; and
\u25a0 Zeolyst International, a 50:50 joint venture with Shell
Catalysts & Technologies, which is a leading supplier of
custom zeolite-based advanced materials and catalysts used
in hydrocracking, sustainable fuels, and custom catalyst
applications, such as plastics recycling.
Details of the consideration transferred, assets acquired, and
liabilities assumed are as follows:
Consideration transferred - The acquisition-date fair value of
the consideration transferred consisted of \u20ac494.3\u00a0million
paid in cash as of December\u00a031, 2025. The consideration paid
by the Company to Ecovyst was determined based on the
initial financial statements of the acquired business and
remains subject to post-closing adjustments relating to
working capital and transaction cost true-ups. These
adjustments will be calculated once the final closing
financial statements are available in 2026 and may result in
either an additional payment by, or a reimbursement to, the
Group. Any resulting changes will be recognized as an
adjustment to the purchase price consideration.
The carrying amount of shares held as of the date of
acquisition of the controlling interest includes the impact of
foreign exchange hedges implemented in anticipation of the
acquisition for \u20ac8.7\u00a0million.
As of December\u00a031, 2025, the Advanced Materials & Catalysts
acquisition generated an outflow of \u20ac484.0\u00a0million, net of
cash acquired in the amount of \u20ac10.2\u00a0million (reported on the
line Business combinations, net of cash acquired in Note\u00a08.1.4
Consolidated Statement of Cash Flows).
Assets acquired and liabilities assumed - As of December\u00a031,
2025, the initial accounting for the business combination is
incomplete because the fair value measurements of certain
acquired assets and liabilities have not yet been finalized.
Specifically, valuations of identifiable intangible assets,
property, plant and equipment, equity-accounted investees,
inventory, assessment of contingent liabilities and tax
positions and the price allocation between \u201cAdvanced Silicas\u201d
and \u201cZeolyst International\u201d are still in progress.
Consequently, the amounts recognized are provisional and
may be adjusted during the measurement period. The
amounts recognized in the consolidated financial statements
for the identifiable assets acquired and liabilities assumed
from the transferred entities, for which the initial accounting
is still incomplete, are as follows:
(In millions of \u20ac)
At the
acquisition date
Intangible assets
25.1
Property, plant and equipment
93.7
Right-of-use assets
0.6
Equity-accounted investees
154.9
Inventories and work in progress
35.9
Cash and cash equivalents
10.2
Lease liabilities
(0.6)
Net financial debt
(1.7)
Other current and non-current assets
and liabilities
14.5
Minority interests
\u2014
Net identifiable assets acquired
332.6
Goodwill
170.3
Carrying amount of shares held as of the
date of acquisition
502.9
The provisional goodwill of \u20ac170.3\u00a0million reflects Advanced
Materials & Catalysts\u2019 expertise in catalysts and advanced
materials, as well as expected synergies from its integration
into Technip Energies, including cross-selling opportunities
and the development of new applications.
The goodwill arising from the acquisition of Advanced
Materials & Catalysts has been recognized on a provisional
basis, as the purchase price allocation has not yet been
finalized. The Group is currently assessing the allocation of
the goodwill to the cash-generating units that are expected
to benefit from the synergies of the business combination.
The allocation will be completed within the measurement
period, which shall not exceed twelve months from the
acquisition date, in accordance with IFRS\u00a03.\u00a0Any adjustments
to the provisional amounts will be recognized retrospectively
as required by the standard.
The acquisition-related costs have been reported in the
consolidated income statement under the line \u201cacquisition
and integrations costs\u201d for a total of \u20ac8.6\u00a0million.
If the acquisition had occurred on January\u00a01, 2025, the
estimated consolidated revenue and profit for the year ended
December\u00a031, 2025 would have been \u20ac7,293.8\u00a0million and
\u20ac377.1\u00a0million respectively.
Year ended December\u00a031, 2024
The Group did not make any significant acquisitions and
divestitures during the year ended December\u00a031, 2024 .
Note 31.Companies included in the scope of the consolidated
financial statements
The principal subsidiaries, associates and joint ventures included in Technip\u00a0Energies\u2019 scope of consolidation as of
December\u00a031, 2025, are listed below:
31.1.Principal subsidiaries
Company Name
Address
Interest held in %
as of December\u00a031,
2025
AUSTRALIA
T.EN Australia and New Zealand Pty Ltd
Level 7, 1 William Street, Perth WA 6000
100
BRAZIL
Ecovyst Catalyst Technologies Brazil
Ltda.
Rio Claro, State of S\u00e3o Paulo, at Rua P 6, n\" 1.223, room 1, Vila
Paulista, CEP 13506-870, Brazil
100
BELGIUM
Rely SA
Avenue du Boulevard 21, 1210 Brussels
60
CHINA
Shanghai T.EN Trading Co. Ltd.
Room 1904, 19th Floor, Xuhui Vanke Center 55\u00a0Ding\u2019An\u00a0Road
200030,\u00a0Shanghai
100
T.EN Chemical Engineering (Tianjin) Co.
Ltd.
521 Jing Jin Road, Beichen District, 300400, Tianjin
100
T.EN Engineering Consultant (Shanghai)
Co. Ltd.
Room 1902, 19th Floor, Xuhui Vanke Center 55 Ding\u2019An Road
200030, Shanghai
100
FRANCE
Clecel SAS
2126 boulevard de La D\u00e9fense Immeuble Origine CS 10266
92741 Nanterre Cedex
100
T.EN Marseille
Technop\u00f4le de Ch\u00e2teau Gombert 306 Rue Albert Einstein BP
94 13382 Marseille Cedex 13
100
Gygaz SNC
2126 boulevard de La D\u00e9fense Immeuble Origine CS 10266
92741 Nanterre Cedex
92.5
Middle East Projects International (T.EN
MEPI) SAS
2126 boulevard de La D\u00e9fense Immeuble Origine CS 10266
92741 Nanterre Cedex
100
Processium SA
30 rue Marguerite Immeuble \u201cle 380\u201d 69100 Villeurbanne
99.84
Reju SAS
2126 boulevard de La D\u00e9fense Immeuble Origine CS 10266
92741 Nanterre Cedex
100
Safrel SAS
2126 boulevard de La D\u00e9fense Immeuble Origine CS 10266
92741 Nanterre Cedex
100
South Tambey LNG SNC(1)
5 place de la Pyramide, Tour Ariane Paris La D\u00e9fense 92800
Puteaux
50
T.EN Corporate Services SAS
2126 boulevard de La D\u00e9fense Immeuble Origine CS 10266
92741 Nanterre Cedex
100
T.EN Eurocash SNC
2126 boulevard de La D\u00e9fense Immeuble Origine CS 10266
92741 Nanterre Cedex
100
Technip Energies France SAS
2126 boulevard de La D\u00e9fense Immeuble Origine CS 10266
92741 Nanterre Cedex
100
T.EN Engineering SAS
2126 boulevard de La D\u00e9fense Immeuble Origine CS 10266
92741 Nanterre Cedex
100
T.EN Net SAS
2126 boulevard de La D\u00e9fense Immeuble Origine CS 10266
92741 Nanterre Cedex
100
T.EN Ing\u00e9nierie R\u00e9gionale pour
Industries SAS
4 rue Pierre Gilles de Gennes 76130 Mont-Saint-Aignan
100
Yamgaz SNC(1)
2126 boulevard de La D\u00e9fense Immeuble Origine CS 10266
92741 Nanterre Cedex
50
T.EN Loading Systems SAS
Route des Cl\u00e9rimois 89100 Sens
100
Company Name
Address
Interest held in %
as of December\u00a031,
2025
GERMANY
Taclov GmbH
Friesstrasse 20 60388 Frankfurt am Main
100
T.EN Zimmer GmbH
Friesstrasse 20 60388 Frankfurt am Main
100
INDIA
RELY GH2 PTX SERVICES INDIA PRIVATE
LIMITED
B-22 Okhla Industrial Area, Phase-1 110020 New Delhi
60.4
T.EN Global Business Services Private
Limited
B-22 Okhla Industrial Area, Phase-1 110020 New Delhi
100
Technip Energies India Limited
B-22 Okhla Industrial Area, Phase-1 110020 New Delhi
100
ITALY
T.EN Italy Solutions S.p.A.
68, Viale Castello della Magliana 00148 Roma
100
Technip Energies Italy S.p.A.
68, Viale Castello della Magliana 00148 Roma
100
INDONESIA
PT Ecovyst Catalyst Technologies
Indonesia
JL Rembang industri raya no.24, pandean, rembang,
kabupaten pasuruan
99.97
JAPAN
Technip Energies Japan GK
Level 10, Hulic Minatomirai 1-1-7, Sakuragi-cho, Naka-ku
Yokohama-shi, Kanagawa
100
MALAYSIA
Genesis Energies Malaysia Sdn. Bhd.
Suite 13.03, 13th Floor, Menara Tan & Tan 207 Jalan Tun Razak
50400 Kuala Lumpur
100
T.EN Far East Sdn. Bhd.
Suite 13.03, 13th Floor, Menara Tan & Tan 207 Jalan Tun Razak
50400 Kuala Lumpur
100
Technip Energies (M) Sdn. Bhd.
Suite 13.03, 13th Floor, Menara Tan & Tan 207 Jalan Tun
Razak 50400 Kuala Lumpur
100
MEXICO
Technip De Mexico S. De R.L. De C.V.
Blvd. Manuel \u00c1vila Camacho 36, Piso 10, Oficina 1058 Lomas De
Chapultepec I Secci\u00f3n. C. P. 11000, Alcald\u00eda Miguel Hidalgo
Ciudad de M\u00e9xico
100
TP Oil & Gas Mexico, S. de R.L. de C.V.
Calle Novena 357 Lote 8 Y 7 FRACC. De La Manzana 74,Seccion
Primera Baja California, 22800, Ensenada
100
MOZAMBIQUE
T.EN Mo\u00e7ambique, Limitada
Vladmir Lenine Avenue, 1123, 7th Floor Maputo
100
NETHERLANDS
T.EN Netherlands B.V.
Afrikaweg 30, 2713 AW, Zoetermeer
100
T.EN Power B.V.
Afrikaweg 30, 2713 AW, Zoetermeer
100
Technip Energies International B.V.
Afrikaweg 30, 2713 AW, Zoetermeer
100
Ecovyst International B.V.
Oosterhorn 36, 9936 HD Farmsum, Netherlands
100
Ecovyst International Cooperatie U.A.
Oosterhorn 36, 9936 HD Farmsum, Netherlands
100
Ecovyst Zeolites B.V.
Oosterhorn 36, 9936 HD Farmsum, Netherlands
100
New Dutch Catalyst Holdco 1 B.V.
Oosterhorn 36, 9936 HD Farmsum, Netherlands
100
New Dutch Catalyst Holdco 2 B.V.
Oosterhorn 36, 9936 HD Farmsum, Netherlands
100
New Dutch Catalyst Holdco 3 B.V.
Oosterhorn 36, 9936 HD Farmsum, Netherlands
100
NORWAY
Genesis Energies Norway AS
Genesis Energies Norway AS v/ Kjell Haver Regnskapsservice
Welhavens vei 5 4319 Sandnes
100
Inocean AS
Bryggegata 9, NO-0250, Oslo
100
Inocean Marotec AS
Bryggegata 9, NO-0250, Oslo
100
Kanfa AS
Philip Pedersens Road 7, 1366 Lysaker
100
OMAN
TEN Engineering Muscat SPC
Office 308 - Omana Plaza Commercial Building Plot n\u00b0159
(WGS-84) Suhar Industrial City Falaj Al Qabail PC 322
100
Company Name
Address
Interest held in %
as of December\u00a031,
2025
POLAND
Inocean Poland Sp. Z.o.o.
Stanislawa Dubois Street, No. 23, lok. Places. Szczecin 71610
100
T.EN Polska Sp. Z.o.o.
UI. Promyka 13/4, No. 13, suite 4, 01-604 Warsaw
100
SAUDI ARABIA
Technip Saudi Arabia Limited
P.O. Box 60159, Riyadh 11545
100
TPL Arabia Limited
Dhahran Center Bldg., Suite # 501, P.O. Box 30893, Al Khobar
31952
100
SENEGAL
T.EN Senegal SAS
Almadies Immeuble SCIA 2, Route du M\u00e9ridien Pr\u00e9sident, Dakar
100
SINGAPORE
Technip Energies Singapore Pte. Ltd.
8 Cross Street #21-05 Manulife Tower, 048424, Singapore
100
SPAIN
Technip Energies Iberia, S.A.
Building n\u00b08 \u2013 Floor 4th Pla\u00e7a de la Pau s/n, World Trade
Center \u2013 Almeda Park \u2013 Cornell\u00e0 de Llobregat, 08940
Barcelona
100
SWEDEN
Inocean AB
Gardatorget 1, Goteborg
100
SWITZERLAND
Engineering Re AG
Vulkanstrasse 106, 8048 Z\u00fcrich
100
THAILAND
Technip Energies (Thailand) Ltd
20th Floor, Suntower, Building A 123 Vibhavadee-Rangsit Road,
Jomphon Jatujak, Bangkok 10900
100
UNITED ARAB EMIRATES
T.EN Middle East FZE
Office No. LB14414 P.O. Box 262274 Jebel Ali Free Zone, Dubai
100
UNITED KINGDOM
Cybernetix S.R.I.S. Limited
100 Fetter Lane, London, EC4A 1ES
100
Genesis Oil & Gas Consultants Limited
100 Fetter Lane, London, EC4A 1ES
100
Genesis Energies Consultants Ltd
100 Fetter Lane, London, EC4A 1ES
100
T.EN E&C Limited
100 Fetter Lane, London, EC4A 1ES
100
T.EN PMC Services Limited
100 Fetter Lane, London, EC4A 1ES
100
T.EN UK Holdings Limited
100 Fetter Lane, London, EC4A 1ES
100
Ecovyst Catalyst Technologies UK
Limited
The Apex, 2 Liverpool Rd, Warrington WA5 1AA,
Cheshire
100
UNITED STATES
Badger Licensing LLC
c/o Corporation Service Company 251, Little Falls Drive
Wilmington, Delaware 19808
100
T.EN WORKFORCE SOLUTIONS
c/o CT Corporation System 3867 Plaza Tower Dr Baton Rouge,
Louisiana 70816
100
T.EN Energy & Chemicals International,
Inc.
c/o CT Corporation System 3867 Plaza Tower Dr Baton Rouge,
Louisiana 70816
100
T.EN Process Technology, Inc.
c/o CT Corporation System 3867 Plaza Tower Dr Baton Rouge,
Louisiana 70816
100
T.EN S&W Abu Dhabi, Inc.
c/o Corporation Trust Center 1209 Orange St. Wilmington,
Delaware 19801
100
T.EN S&W International, Inc.
c/o CT Corporation System 3867 Plaza Tower Dr Baton Rouge,
Louisiana 70816
100
T.EN Stone & Webster Process
Technology, Inc.
c/o Corporation Trust Center 1209 Orange St. Wilmington,
Delaware 19801
100
Technip Energies USA, Inc.
c/o Corporation Trust Center 1209 Orange St. Wilmington,
Delaware 19801
100
Taclov LLC
Almaden Research Center CA 95120-6099, 650 Harry Road,
San Jose
52.59
Company Name
Address
Interest held in %
as of December\u00a031,
2025
Advanced Materials & Catalysts LLC
850 New Burton Road, Suite 201, Dover, Delaware 19904
100
Ecovyst International Holdings Inc.
850 New Burton Road, Suite 201, Dover, Delaware 19904\u00a0
100
Delpen Corporation
850 New Burton Road, Suite 201, Dover, Delaware 19904\u00a0
100
(1)Technip Energies has an ownership interest in both Yamgaz SNC and South Tambey LNG of 200,002 shares (of total outstanding shares), or 50.0005%.
It obtained a majority interest and voting control over Yamgaz SNC and South Tambey and consolidated both entities effective December\u00a031, 2016.
31.2.Associates and joint ventures
Company Name
Address
Interest held in %
as of December\u00a031,
2025
BAHRAIN
TTSJV W.L.L.
Block 215, Rd 1531, Bldg 1130, Flt.12 P.O. Box 28110 Muharraq
36
BOSNIA AND HERZEGOVINA
Petrolinvest, D.D. Sarajevo
Tvornicka 3, 71000 Sarajevo
33.01
BRAZIL
FSTP Brasil Ltda.
Rua Professor \u00c1lvaro Rodrigues, n\u00b0 352, 3\u00b0 andar, Botafogo,
22270-000, Rio De Janeiro
25
FRANCE
CTEP France SNC
2126 boulevard de la D\u00e9fense Immeuble Origine CS 10266 92741
Nanterre Cedex
50
Ekwil SAS
2126 boulevard de la D\u00e9fense 92000 Nanterre
50
TP JGC Coral France SNC
2126 boulevard de la D\u00e9fense Immeuble Origine CS 10266 92741
Nanterre Cedex
50
T.EN JGC Coral Norte France SNC
2126 boulevard de la D\u00e9fense Immeuble Origine CS 10266 92741
Nanterre Cedex
50
JAPAN
CTEP Japan
Level 10, Hulic Minatomirai 1-1-7, Sakuragi-cho, Naka-ku
Yokohama-shi, Kanagawa
50
KAZAKHSTAN
TKJV LLP
Av. Abdirova, bld. 3, 100009, Karaganda city, Kazybek bi district
49.5
MEXICO
Ethylene XXI Contractors S.A.P.I. de C.V.
Blvd Manuel \u00c1vila Camacho N\u00famero 32, piso 6, oficina 677,
Col.\u00a0Lomas de Chapultepec, C.P. 11000, Ciudad de M\u00e9xico
40
Desarrolladora de Etileno, S. de R.L. de
C.V.
Blvd Manuel \u00c1vila Camacho N\u00famero 32, piso 6, oficina 677,
Col.\u00a0Lomas de Chapultepec, C.P. 11000, Ciudad de M\u00e9xico
40
MOZAMBIQUE
ENHL - T.EN MOZAMBIQUE, LDA
Av. Vladimir Lenine, 1123, 7\u00ba andar Edif\u00edcio Topazio Maputo
51
JGC FLUOR T.EN MO\u00c7AMBIQUE, LDA
Destrito Urbano 1, Bairro Central, Av. Vladmir L\u00e9nine, n.\u00ba
1123Edif\u00edcio Top\u00e1zio - 7\u00ba andar Maputo
33.33
T.EN CORAL NORTE MOZAMBIQUE
Av. Vladimir Lenine, 1123, 7\u00ba andar Edif\u00edcio Topazio Maputo
50
TP JGC Coral Mozambique, LDA
Av. Vladimir Lenine, 1123, 7\u00ba andar Edif\u00edcio Topazio Maputo
50
NETHERLANDS
Etileno XXI Holding B.V.
Afrikaweg 30, 2713 AW, Zoetermeer
50
Etileno XXI Services B.V.
Beursplein 37, Office 869, 3011 AA Rotterdam
40
ZEOLYST C.V.
Oosterhorn 36, 9936 HD Farmsum, Netherlands
50
PORTUGAL
TSKJ - SERVI\u00c7OS DE ENGENHARIA, LDA.
Avenida Arriaga, number 30, 1 - H, 9000-064 Funchal - Madeira
25
Company Name
Address
Interest held in %
as of December\u00a031,
2025
SAUDI ARABIA
Technip Italy S.p.A. & Dar Al Riyadh for
Engineering Consulting
Khobar Business Gate, Tower B, 7th Floor , King Faisal Bin
Abdul-Aziz Road, P.O. Box 3596, Al Khobar 34423
60
SINGAPORE
FSTP Pte Ltd
50 Gul Road, 629351, Singapore
25
UNITED ARAB EMIRATES
NT Energies LLC
Al Muroor Road, Guardian Office Tower P.O. Box 7657, Abu
Dhabi
49
UNITED STATES
KTJV LLC
601 Jefferson Street Houston, TX 77002
50
ZEOLYST INTERNATIONAL
1700 Kansas Avenue, Kansas City, KS, 66105
50
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-520": { "value": "
Acquisition of the Advanced Materials &
Catalysts business from Ecovyst Inc.
On December\u00a031, 2025, the Company acquired 100% of the
Advanced Materials & Catalysts business from Ecovyst Inc.
The acquired business consists of:
\u25a0 Advanced Silicas, a manufacturer and supplier of specialty
silica-based advanced materials and catalysts for plastics,
chemicals, and industrial applications; and
\u25a0 Zeolyst International, a 50:50 joint venture with Shell
Catalysts & Technologies, which is a leading supplier of
custom zeolite-based advanced materials and catalysts used
in hydrocracking, sustainable fuels, and custom catalyst
applications, such as plastics recycling.
Details of the consideration transferred, assets acquired, and
liabilities assumed are as follows:
Consideration transferred - The acquisition-date fair value of
the consideration transferred consisted of \u20ac494.3\u00a0million
paid in cash as of December\u00a031, 2025. The consideration paid
by the Company to Ecovyst was determined based on the
initial financial statements of the acquired business and
remains subject to post-closing adjustments relating to
working capital and transaction cost true-ups. These
adjustments will be calculated once the final closing
financial statements are available in 2026 and may result in
either an additional payment by, or a reimbursement to, the
Group. Any resulting changes will be recognized as an
adjustment to the purchase price consideration.
The carrying amount of shares held as of the date of
acquisition of the controlling interest includes the impact of
foreign exchange hedges implemented in anticipation of the
acquisition for \u20ac8.7\u00a0million.
As of December\u00a031, 2025, the Advanced Materials & Catalysts
acquisition generated an outflow of \u20ac484.0\u00a0million, net of
cash acquired in the amount of \u20ac10.2\u00a0million (reported on the
line Business combinations, net of cash acquired in Note\u00a08.1.4
Consolidated Statement of Cash Flows).
Assets acquired and liabilities assumed - As of December\u00a031,
2025, the initial accounting for the business combination is
incomplete because the fair value measurements of certain
acquired assets and liabilities have not yet been finalized.
Specifically, valuations of identifiable intangible assets,
property, plant and equipment, equity-accounted investees,
inventory, assessment of contingent liabilities and tax
positions and the price allocation between \u201cAdvanced Silicas\u201d
and \u201cZeolyst International\u201d are still in progress.
Consequently, the amounts recognized are provisional and
may be adjusted during the measurement period. The
amounts recognized in the consolidated financial statements
for the identifiable assets acquired and liabilities assumed
from the transferred entities, for which the initial accounting
is still incomplete, are as follows:
(In millions of \u20ac)
At the
acquisition date
Intangible assets
25.1
Property, plant and equipment
93.7
Right-of-use assets
0.6
Equity-accounted investees
154.9
Inventories and work in progress
35.9
Cash and cash equivalents
10.2
Lease liabilities
(0.6)
Net financial debt
(1.7)
Other current and non-current assets
and liabilities
14.5
Minority interests
\u2014
Net identifiable assets acquired
332.6
Goodwill
170.3
Carrying amount of shares held as of the
date of acquisition
502.9
The provisional goodwill of \u20ac170.3\u00a0million reflects Advanced
Materials & Catalysts\u2019 expertise in catalysts and advanced
materials, as well as expected synergies from its integration
into Technip Energies, including cross-selling opportunities
and the development of new applications.
The goodwill arising from the acquisition of Advanced
Materials & Catalysts has been recognized on a provisional
basis, as the purchase price allocation has not yet been
finalized. The Group is currently assessing the allocation of
the goodwill to the cash-generating units that are expected
to benefit from the synergies of the business combination.
The allocation will be completed within the measurement
period, which shall not exceed twelve months from the
acquisition date, in accordance with IFRS\u00a03.\u00a0Any adjustments
to the provisional amounts will be recognized retrospectively
as required by the standard.
The acquisition-related costs have been reported in the
consolidated income statement under the line \u201cacquisition
and integrations costs\u201d for a total of \u20ac8.6\u00a0million.
If the acquisition had occurred on January\u00a01, 2025, the
estimated consolidated revenue and profit for the year ended
December\u00a031, 2025 would have been \u20ac7,293.8\u00a0million and
\u20ac377.1\u00a0million respectively.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-521": { "value": "
Note 4.Revenue
4.1.Principal revenue-generating activities
As one of the largest E&T groups by revenue,
Technip\u00a0Energies Group offers what it characterizes as a full
range of design and project development services to its
customers spanning the downstream value chain, from early-
engagement technical consulting through final acceptance
testing.
The Group\u2019s offering to its clients consists of Project Delivery
and Technology, Products & Services. Technip\u00a0Energies Group
business focuses on the study, engineering, procurement,
construction, and project management of the entire range of
onshore and offshore facilities related to gas monetization,
refining, and chemical processing from biofuels and
hydrocarbons.
The majority of the Technip\u00a0Energies Group\u2019 revenue is from
long-term contracts associated with designing and
manufacturing products and systems and providing services
to customers involved in the energy sector.
Many of these contracts provide a combination of
engineering, procurement, construction, project management,
and installation services, which may last several years.
Management has determined that contracts of this nature
generally have one performance obligation. In these
contracts, the final product is highly customized to the
specifications of the field and the customers\u2019 requirements.
Therefore, the customer obtains control of the asset over
time, and thus revenue is recognized over time.
These customized products do not have an alternative use
for the Technip\u00a0Energies Group . The Group has an
enforceable right to payment plus reasonable profit for
performance completed to date.
4.2.Disaggregation of revenue
The Technip\u00a0Energies Group disaggregates revenue from external customers as follows:
December\u00a031, 2025
December\u00a031, 2024
(In millions of \u20ac)
Project
Delivery
Technology,
Products &
Services
TOTAL
Project
Delivery
Technology,
Products &
Services
TOTAL
Europe & Central Asia
312.1
762.7
1,074.7
283.0
848.0
1,131.0
Africa & Middle East
3,821.9
420.7
4,242.6
3,629.4
359.8
3,989.2
Asia Pacific
239.9
319.5
559.4
371.4
359.5
730.8
Americas
1,032.8
294.3
1,327.1
457.8
409.9
867.8
TOTAL REVENUE
5,406.6
1,797.2
7,203.8
4,741.6
1,977.3
6,718.9
For more information about concentration risks, please refer to section\u00a04. Risk and Risk management of this Annual Report.
4.3.Contract balances
The following table provides information about net contract assets and liabilities as of December\u00a031, 2025, and 2024:
(In millions of \u20ac)
December\u00a031, 2025
December\u00a031, 2024
Change
% change
Contract assets
381.2
481.3
(100.1)
(21%)
Contract liabilities
3,738.0
3,358.4
379.6
11%
NET LIABILITIES
3,356.8
2,877.1
479.7
17%
To determine revenue recognized in the period from contract
liabilities, the Group allocates revenue to the individual
contract liability balance outstanding at the beginning of the
period until the revenue exceeds that balance. Revenue
recognized for the years ended December\u00a031, 2025, and 2024
that was included in the contract liabilities balance on
December\u00a031, 2024, and 2023 was \u20ac 2,680.9\u00a0million and
\u20ac2,049.5\u00a0million, respectively.
Revenue recognized for the years ended December\u00a031, 2025 ,
and 2024 from the Technip\u00a0Energies Group\u2019s performance
obligations satisfied in previous periods had an impact of
\u20ac(20.1)\u00a0million and \u20ac15.6\u00a0million, respectively. This primarily
relates to changes in the estimate of the stage of
completion.
4.4.Transaction price allocated to the remaining unsatisfied performance obligations
Remaining unsatisfied performance obligations (\u201cbacklog\u201d)
represent the transaction price for products and services for
which we have an enforceable right, but work has not been
performed. The transaction price of the backlog includes the
base transaction price, variable consideration, and changes in
transaction price. The backlog table does not include
contracts for which we recognize revenue at the amount to
which we have the right to invoice for services performed.
The transaction price of the backlog related to unfilled,
confirmed customer orders is estimated at each reporting
date. As of December\u00a031, 2025, and 2024 , the aggregate
amount of the transaction price allocated to backlog was
\u20ac16,026.2\u00a0million and \u20ac19,708.3\u00a0million, respectively.
The following table details the backlog as of December\u00a031, 2025:
(In millions)
December 31,
2026
December 31,
2027
December 31,
2028+
Total remaining unsatisfied performance obligations
7,145.7
5,274.0
3,606.5
The following table details the backlog as of December\u00a031, 2024:
(In millions)
December 31,
2025
December 31,
2026
December 31,
2027+
Total remaining unsatisfied performance obligations
6,349.9
5,652.6
7,705.7
", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-522": { "value": "
Note 5.Impairment, restructuring and other expense
Impairment, restructuring and other expense is detailed as follows:
(In millions of \u20ac)
December\u00a031, 2025
December\u00a031, 2024
Impairment costs
(2.2)
(5.0)
Restructuring and severance costs
(14.0)
(9.0)
Non-recurring legal matters
(2.0)
3.5
Adjacent business model investments costs
(41.5)
(16.0)
Other non-recurring costs (1)
(12.4)
(3.5)
TOTAL IMPAIRMENT, RESTRUCTURING AND OTHER EXPENSE
(72.1)
(30.0)
(1)Other included costs incurred related to strategic initiatives.
Impairment costs
The Group recognized impairment of \u20ac2.2\u00a0million and
\u20ac5.0\u00a0million on intangible assets as of December\u00a031, 2025 ,
and December\u00a031, 2024 respectively.
In relation to Goodwill, the impairment test conducted is
discussed in detail in Note 1. Accounting principles and
presented in Note 14. Goodwill and intangible assets and
concluded to the absence of impairment.
Non-recurring legal matters
This includes the financial effects of legal-related provisions
and settlements.
As of December\u00a031, 2025, additional costs have been
recognized following the final decision regarding the P52
project.
Adjacent business model investments costs
As of December\u00a031, 2025, these costs reflect the
expenditures incurred by the Group to support and develop
adjacent business models.
", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-523": { "value": "
Note 6.Other operating income (expense), net
Total other income and expense, net is as follows:
(In millions of \u20ac)
December\u00a031,
2025
December\u00a031,
2024
Foreign currency gain (loss)
(5.3)
23.4
Reinsurance income (expense)
(0.6)
6.5
Net gain (loss) from disposal of property, plant and equipment and intangible assets
(0.5)
(0.1)
Other
(2.5)
(3.4)
TOTAL OTHER OPERATING INCOME (EXPENSE), NET
(8.9)
26.4
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-524": { "value": "
Note 9.Interests in associates, joint ventures and joint operations
9.1.Interests in associates and joint ventures
The carrying amounts of the Technip\u00a0Energies Group\u2019s joint ventures and associates accounted for under the equity method
amounted to \u20ac257.1 \u00a0million and \u20ac98.2 \u00a0million as of December\u00a031, 2025, and December\u00a031, 2024 , respectively.
Summarized moveme nts during the year:
(In millions of \u20ac)
December\u00a0
31, 2024
Share of
profit (loss)
of equity-
accounted
investees
Dividends
Other
comprehensive
income (loss)
Foreign
exchange
differences
Acquisition
through
business
combination (1)
Other
movements(2)
December\u00a031,
2025
Joint
ventures
92.7
4.7
(45.2)
0.8
6.3
154.9
36.2
250.4
Associates
5.5
1.3
\u2014
\u2014
(0.1)
\u2014
\u2014
6.7
TOTAL
98.2
6.0
(45.2)
0.8
6.2
154.9
36.2
257.1
(1)Related to the acquisition of Advanced Materials & Catalysts, for more details please refer to Note 2. Changes in the scope of consolidation.
(2)Other movements include mainly the reclassification of negative investments to liabilities.
(In millions of \u20ac)
December\u00a0
31, 2023
Share of
profit (loss)
of equity-
accounted
investees
Dividends
Other
comprehensive
income (loss)
Foreign
exchange
differences
Acquisition
through
business
combination
Other
movements(1)
December\u00a031,
2024
Joint
ventures
84.6
20.2
(46.3)
3.5
(1.2)
\u2014
31.9
92.7
Associates
15.5
(1.6)
(9.9)
\u2014
(0.8)
\u2014
2.3
5.5
TOTAL
100.1
18.6
(56.2)
3.5
(2.0)
\u2014
34.2
98.2
(1)Other movements include the reclassification of negative investments to liabilities.
The main equity investments were as follows as of December\u00a031, 2025 , and December\u00a031, 2024:
December\u00a031, 2025
December\u00a031, 2024
(In\u00a0millions of \u20ac, except %)
Place of business/incorporation
Percentage
owned
Carrying
value
Percentage
owned
Carrying
value
Coral South
Mozambique, France
50.0%
15.7
50.0%
34.8
Coral Norte
France
50.0%
31.0
50.0%
0.6
NFE
France, Japan
50.0%
42.7
50.0%
41.7
BAPCO Sitra Refinery
Bahrain
36.0%
\u2014
36.0%
\u2014
Zeolyst
USA, Netherlands
50.0%
154.9
N/A
\u2014
Others
N/A
12.8
N/A
21.1
TOTAL
257.1
98.2
TP JGC Coral France SNC is an affiliated company in the
form of a joint\u00a0venture between Technip\u00a0Energies, JGC
Corporation, Samsung Heavy Industries, and TechnipFMC, all
partners in the TJS Consortium. ENI Coral FLNG was formed
in 2017 when awarded a contract for the Engineering,
Procurement, Construction, Installation, Commissioning, and
Startup of the Coral South FLNG facility.
T.EN JGC Coral Norte France SNC is an affiliated company in
the form of a joint venture between Technip\u00a0Energies and
JGC Corporation, and in a Consortium with Samsung Heavy
Industries for the execution of the Coral Norte FLNG
Offshore Mozambique Project. TEN JGC Coral Norte was
formed in 2023 when entering the early work phase of the
contract for the Engineering, Procurement, Construction,
Installation, Commissioning, and Startup of the Coral Norte
FLNG facility.
With our partner Chiyoda Corporation, Technip\u00a0Energies was
awarded a contract from Qatar Petroleum for the onshore
facilities of the North Field East Project for four liquefied
natural gas (LNG) trains and associated utility facilities (NFE
Project). To carry out our performance obligation under the
contract, various legal companies and arrangements have
been established, some of which qualify as joint operations
according to IFRS\u00a011 and are accounted at our proportionate
share of such operations and others are joint ventures
accounted for using the equity method.
BAPCO Sitra Refinery is an affiliated company in the form of
a joint\u00a0venture between Technip\u00a0Energies and Samsung
Engineering and T\u00e9cnicas Reunidas. BAPCO Sitra Refinery was
formed in 2018 when awarded a contract from Bahrain
Petroleum Company for the BAPCO Modernization Program
(BMP) for the expansion of the capacity of the existing Sitra
oil refinery on Bahrain\u2019s Eastern coast.
Zeolyst is a joint venture jointly controlled by the Group and
Shell Catalysts & Technologies, an affiliate of Royal Dutch
Shell. The entity specializes in the development,
manufacturing, and commercialization of high-technology
specialty zeolites and zeolite-based catalysts and adsorbent
materials, primarily serving industrial catalysis, environmental
and specialty chemical markets. Zeolyst was acquired as part
of the acquisition of Advanced Materials & Catalysts
completed on December\u00a031, 2025. For more details, please
refer to Note 2. Changes in the scope of consolidation.
The summarized financial information (at 100%) of investments in joint ventures and associates is presented below for all
entities as well as separately for the main equity investments of the Group:
Summarized statement of financial position:
Total for all joint ventures
and\u00a0associates
Coral South & Norte, NFE, Zeolyst
and Bapco only
(In millions of \u20ac)
December\u00a031,
2025
December\u00a031,
2024
December\u00a031,
2025
December\u00a031,
2024
DATA AT 100%
Non-current assets
146.5
42.7
141.4
7.0
Other current assets
538.4
429.6
485.3
374.1
Cash and cash equivalents
485.7
559.2
394.5
428.3
Total current assets
1,024.1
988.7
879.8
802.4
Total non-current liabilities
33.2
33.6
8.7
2.8
Total current liabilities
991.2
1,036.5
899.9
915.1
Net assets at 100%
146.2
(38.6)
112.6
(108.6)
Net assets attributable to Technip Energies
Group
112.7
(6.3)
127.3
(175.0)
Negative investments reclassification
144.4
104.5
116.9
94.6
Investments in equity affiliates
257.1
98.2
244.2
(80.4)
Summarized statement of total comprehensive income:
Total for all joint ventures
and\u00a0associates
Coral South & Norte, NFE
and Bapco only (1)
(In millions of \u20ac)
December\u00a031,
2025
December\u00a031,
2024
December\u00a031,
2025
December\u00a031,
2024
DATA AT 100%
Revenue
1,390.3
2,055.1
1,311.5
1,991.0
Depreciation and amortization
2.5
(2.4)
0.1
(0.2)
Financial income
15.4
21.7
11.3
14.8
Financial expense
(30.0)
(1.0)
(3.3)
\u2014
Income tax (expense) profit
(10.2)
(14.7)
(7.3)
(8.2)
Net profit (loss)
(49.1)
(10.4)
(30.3)
9.8
Other comprehensive income
(4.5)
(6.8)
14.0
(6.5)
TOTAL COMPREHENSIVE INCOME (LOSS)
(53.6)
(17.2)
(16.3)
3.2
(1) The acquisition of Advanced Materials & Catalysts was completed on December\u00a031, 2025. It therefore had no impact on the 2025 consolidated
statement of income. For more details, please refer to Note\u00a02. Changes in the scope of consolidation.
Associates and joint ventures
Company Name
Address
Interest held in %
as of December\u00a031,
2025
BAHRAIN
TTSJV W.L.L.
Block 215, Rd 1531, Bldg 1130, Flt.12 P.O. Box 28110 Muharraq
36
BOSNIA AND HERZEGOVINA
Petrolinvest, D.D. Sarajevo
Tvornicka 3, 71000 Sarajevo
33.01
BRAZIL
FSTP Brasil Ltda.
Rua Professor \u00c1lvaro Rodrigues, n\u00b0 352, 3\u00b0 andar, Botafogo,
22270-000, Rio De Janeiro
25
FRANCE
CTEP France SNC
2126 boulevard de la D\u00e9fense Immeuble Origine CS 10266 92741
Nanterre Cedex
50
Ekwil SAS
2126 boulevard de la D\u00e9fense 92000 Nanterre
50
TP JGC Coral France SNC
2126 boulevard de la D\u00e9fense Immeuble Origine CS 10266 92741
Nanterre Cedex
50
T.EN JGC Coral Norte France SNC
2126 boulevard de la D\u00e9fense Immeuble Origine CS 10266 92741
Nanterre Cedex
50
JAPAN
CTEP Japan
Level 10, Hulic Minatomirai 1-1-7, Sakuragi-cho, Naka-ku
Yokohama-shi, Kanagawa
50
KAZAKHSTAN
TKJV LLP
Av. Abdirova, bld. 3, 100009, Karaganda city, Kazybek bi district
49.5
MEXICO
Ethylene XXI Contractors S.A.P.I. de C.V.
Blvd Manuel \u00c1vila Camacho N\u00famero 32, piso 6, oficina 677,
Col.\u00a0Lomas de Chapultepec, C.P. 11000, Ciudad de M\u00e9xico
40
Desarrolladora de Etileno, S. de R.L. de
C.V.
Blvd Manuel \u00c1vila Camacho N\u00famero 32, piso 6, oficina 677,
Col.\u00a0Lomas de Chapultepec, C.P. 11000, Ciudad de M\u00e9xico
40
MOZAMBIQUE
ENHL - T.EN MOZAMBIQUE, LDA
Av. Vladimir Lenine, 1123, 7\u00ba andar Edif\u00edcio Topazio Maputo
51
JGC FLUOR T.EN MO\u00c7AMBIQUE, LDA
Destrito Urbano 1, Bairro Central, Av. Vladmir L\u00e9nine, n.\u00ba
1123Edif\u00edcio Top\u00e1zio - 7\u00ba andar Maputo
33.33
T.EN CORAL NORTE MOZAMBIQUE
Av. Vladimir Lenine, 1123, 7\u00ba andar Edif\u00edcio Topazio Maputo
50
TP JGC Coral Mozambique, LDA
Av. Vladimir Lenine, 1123, 7\u00ba andar Edif\u00edcio Topazio Maputo
50
NETHERLANDS
Etileno XXI Holding B.V.
Afrikaweg 30, 2713 AW, Zoetermeer
50
Etileno XXI Services B.V.
Beursplein 37, Office 869, 3011 AA Rotterdam
40
ZEOLYST C.V.
Oosterhorn 36, 9936 HD Farmsum, Netherlands
50
PORTUGAL
TSKJ - SERVI\u00c7OS DE ENGENHARIA, LDA.
Avenida Arriaga, number 30, 1 - H, 9000-064 Funchal - Madeira
25
Company Name
Address
Interest held in %
as of December\u00a031,
2025
SAUDI ARABIA
Technip Italy S.p.A. & Dar Al Riyadh for
Engineering Consulting
Khobar Business Gate, Tower B, 7th Floor , King Faisal Bin
Abdul-Aziz Road, P.O. Box 3596, Al Khobar 34423
60
SINGAPORE
FSTP Pte Ltd
50 Gul Road, 629351, Singapore
25
UNITED ARAB EMIRATES
NT Energies LLC
Al Muroor Road, Guardian Office Tower P.O. Box 7657, Abu
Dhabi
49
UNITED STATES
KTJV LLC
601 Jefferson Street Houston, TX 77002
50
ZEOLYST INTERNATIONAL
1700 Kansas Avenue, Kansas City, KS, 66105
50
", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInAssociatesExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-526": { "value": "
The carrying amounts of the Technip\u00a0Energies Group\u2019s joint ventures and associates accounted for under the equity method
amounted to \u20ac257.1 \u00a0million and \u20ac98.2 \u00a0million as of December\u00a031, 2025, and December\u00a031, 2024 , respectively.
Summarized moveme nts during the year:
(In millions of \u20ac)
December\u00a0
31, 2024
Share of
profit (loss)
of equity-
accounted
investees
Dividends
Other
comprehensive
income (loss)
Foreign
exchange
differences
Acquisition
through
business
combination (1)
Other
movements(2)
December\u00a031,
2025
Joint
ventures
92.7
4.7
(45.2)
0.8
6.3
154.9
36.2
250.4
Associates
5.5
1.3
\u2014
\u2014
(0.1)
\u2014
\u2014
6.7
TOTAL
98.2
6.0
(45.2)
0.8
6.2
154.9
36.2
257.1
(1)Related to the acquisition of Advanced Materials & Catalysts, for more details please refer to Note 2. Changes in the scope of consolidation.
(2)Other movements include mainly the reclassification of negative investments to liabilities.
(In millions of \u20ac)
December\u00a0
31, 2023
Share of
profit (loss)
of equity-
accounted
investees
Dividends
Other
comprehensive
income (loss)
Foreign
exchange
differences
Acquisition
through
business
combination
Other
movements(1)
December\u00a031,
2024
Joint
ventures
84.6
20.2
(46.3)
3.5
(1.2)
\u2014
31.9
92.7
Associates
15.5
(1.6)
(9.9)
\u2014
(0.8)
\u2014
2.3
5.5
TOTAL
100.1
18.6
(56.2)
3.5
(2.0)
\u2014
34.2
98.2
(1)Other movements include the reclassification of negative investments to liabilities.
The main equity investments were as follows as of December\u00a031, 2025 , and December\u00a031, 2024:
December\u00a031, 2025
December\u00a031, 2024
(In\u00a0millions of \u20ac, except %)
Place of business/incorporation
Percentage
owned
Carrying
value
Percentage
owned
Carrying
value
Coral South
Mozambique, France
50.0%
15.7
50.0%
34.8
Coral Norte
France
50.0%
31.0
50.0%
0.6
NFE
France, Japan
50.0%
42.7
50.0%
41.7
BAPCO Sitra Refinery
Bahrain
36.0%
\u2014
36.0%
\u2014
Zeolyst
USA, Netherlands
50.0%
154.9
N/A
\u2014
Others
N/A
12.8
N/A
21.1
TOTAL
257.1
98.2
TP JGC Coral France SNC is an affiliated company in the
form of a joint\u00a0venture between Technip\u00a0Energies, JGC
Corporation, Samsung Heavy Industries, and TechnipFMC, all
partners in the TJS Consortium. ENI Coral FLNG was formed
in 2017 when awarded a contract for the Engineering,
Procurement, Construction, Installation, Commissioning, and
Startup of the Coral South FLNG facility.
T.EN JGC Coral Norte France SNC is an affiliated company in
the form of a joint venture between Technip\u00a0Energies and
JGC Corporation, and in a Consortium with Samsung Heavy
Industries for the execution of the Coral Norte FLNG
Offshore Mozambique Project. TEN JGC Coral Norte was
formed in 2023 when entering the early work phase of the
contract for the Engineering, Procurement, Construction,
Installation, Commissioning, and Startup of the Coral Norte
FLNG facility.
With our partner Chiyoda Corporation, Technip\u00a0Energies was
awarded a contract from Qatar Petroleum for the onshore
facilities of the North Field East Project for four liquefied
natural gas (LNG) trains and associated utility facilities (NFE
Project). To carry out our performance obligation under the
contract, various legal companies and arrangements have
been established, some of which qualify as joint operations
according to IFRS\u00a011 and are accounted at our proportionate
share of such operations and others are joint ventures
accounted for using the equity method.
BAPCO Sitra Refinery is an affiliated company in the form of
a joint\u00a0venture between Technip\u00a0Energies and Samsung
Engineering and T\u00e9cnicas Reunidas. BAPCO Sitra Refinery was
formed in 2018 when awarded a contract from Bahrain
Petroleum Company for the BAPCO Modernization Program
(BMP) for the expansion of the capacity of the existing Sitra
oil refinery on Bahrain\u2019s Eastern coast.
Zeolyst is a joint venture jointly controlled by the Group and
Shell Catalysts & Technologies, an affiliate of Royal Dutch
Shell. The entity specializes in the development,
manufacturing, and commercialization of high-technology
specialty zeolites and zeolite-based catalysts and adsorbent
materials, primarily serving industrial catalysis, environmental
and specialty chemical markets. Zeolyst was acquired as part
of the acquisition of Advanced Materials & Catalysts
completed on December\u00a031, 2025. For more details, please
refer to Note 2. Changes in the scope of consolidation.
The summarized financial information (at 100%) of investments in joint ventures and associates is presented below for all
entities as well as separately for the main equity investments of the Group:
Summarized statement of financial position:
Total for all joint ventures
and\u00a0associates
Coral South & Norte, NFE, Zeolyst
and Bapco only
(In millions of \u20ac)
December\u00a031,
2025
December\u00a031,
2024
December\u00a031,
2025
December\u00a031,
2024
DATA AT 100%
Non-current assets
146.5
42.7
141.4
7.0
Other current assets
538.4
429.6
485.3
374.1
Cash and cash equivalents
485.7
559.2
394.5
428.3
Total current assets
1,024.1
988.7
879.8
802.4
Total non-current liabilities
33.2
33.6
8.7
2.8
Total current liabilities
991.2
1,036.5
899.9
915.1
Net assets at 100%
146.2
(38.6)
112.6
(108.6)
Net assets attributable to Technip Energies
Group
112.7
(6.3)
127.3
(175.0)
Negative investments reclassification
144.4
104.5
116.9
94.6
Investments in equity affiliates
257.1
98.2
244.2
(80.4)
Summarized statement of total comprehensive income:
Total for all joint ventures
and\u00a0associates
Coral South & Norte, NFE
and Bapco only (1)
(In millions of \u20ac)
December\u00a031,
2025
December\u00a031,
2024
December\u00a031,
2025
December\u00a031,
2024
DATA AT 100%
Revenue
1,390.3
2,055.1
1,311.5
1,991.0
Depreciation and amortization
2.5
(2.4)
0.1
(0.2)
Financial income
15.4
21.7
11.3
14.8
Financial expense
(30.0)
(1.0)
(3.3)
\u2014
Income tax (expense) profit
(10.2)
(14.7)
(7.3)
(8.2)
Net profit (loss)
(49.1)
(10.4)
(30.3)
9.8
Other comprehensive income
(4.5)
(6.8)
14.0
(6.5)
TOTAL COMPREHENSIVE INCOME (LOSS)
(53.6)
(17.2)
(16.3)
3.2
(1) The acquisition of Advanced Materials & Catalysts was completed on December\u00a031, 2025. It therefore had no impact on the 2025 consolidated
statement of income. For more details, please refer to Note\u00a02. Changes in the scope of consolidation.
", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-525": { "value": "
The carrying amounts of the Technip\u00a0Energies Group\u2019s joint ventures and associates accounted for under the equity method
amounted to \u20ac257.1 \u00a0million and \u20ac98.2 \u00a0million as of December\u00a031, 2025, and December\u00a031, 2024 , respectively.
Summarized moveme nts during the year:
(In millions of \u20ac)
December\u00a0
31, 2024
Share of
profit (loss)
of equity-
accounted
investees
Dividends
Other
comprehensive
income (loss)
Foreign
exchange
differences
Acquisition
through
business
combination (1)
Other
movements(2)
December\u00a031,
2025
Joint
ventures
92.7
4.7
(45.2)
0.8
6.3
154.9
36.2
250.4
Associates
5.5
1.3
\u2014
\u2014
(0.1)
\u2014
\u2014
6.7
TOTAL
98.2
6.0
(45.2)
0.8
6.2
154.9
36.2
257.1
(1)Related to the acquisition of Advanced Materials & Catalysts, for more details please refer to Note 2. Changes in the scope of consolidation.
(2)Other movements include mainly the reclassification of negative investments to liabilities.
(In millions of \u20ac)
December\u00a0
31, 2023
Share of
profit (loss)
of equity-
accounted
investees
Dividends
Other
comprehensive
income (loss)
Foreign
exchange
differences
Acquisition
through
business
combination
Other
movements(1)
December\u00a031,
2024
Joint
ventures
84.6
20.2
(46.3)
3.5
(1.2)
\u2014
31.9
92.7
Associates
15.5
(1.6)
(9.9)
\u2014
(0.8)
\u2014
2.3
5.5
TOTAL
100.1
18.6
(56.2)
3.5
(2.0)
\u2014
34.2
98.2
(1)Other movements include the reclassification of negative investments to liabilities.
The main equity investments were as follows as of December\u00a031, 2025 , and December\u00a031, 2024:
December\u00a031, 2025
December\u00a031, 2024
(In\u00a0millions of \u20ac, except %)
Place of business/incorporation
Percentage
owned
Carrying
value
Percentage
owned
Carrying
value
Coral South
Mozambique, France
50.0%
15.7
50.0%
34.8
Coral Norte
France
50.0%
31.0
50.0%
0.6
NFE
France, Japan
50.0%
42.7
50.0%
41.7
BAPCO Sitra Refinery
Bahrain
36.0%
\u2014
36.0%
\u2014
Zeolyst
USA, Netherlands
50.0%
154.9
N/A
\u2014
Others
N/A
12.8
N/A
21.1
TOTAL
257.1
98.2
TP JGC Coral France SNC is an affiliated company in the
form of a joint\u00a0venture between Technip\u00a0Energies, JGC
Corporation, Samsung Heavy Industries, and TechnipFMC, all
partners in the TJS Consortium. ENI Coral FLNG was formed
in 2017 when awarded a contract for the Engineering,
Procurement, Construction, Installation, Commissioning, and
Startup of the Coral South FLNG facility.
T.EN JGC Coral Norte France SNC is an affiliated company in
the form of a joint venture between Technip\u00a0Energies and
JGC Corporation, and in a Consortium with Samsung Heavy
Industries for the execution of the Coral Norte FLNG
Offshore Mozambique Project. TEN JGC Coral Norte was
formed in 2023 when entering the early work phase of the
contract for the Engineering, Procurement, Construction,
Installation, Commissioning, and Startup of the Coral Norte
FLNG facility.
With our partner Chiyoda Corporation, Technip\u00a0Energies was
awarded a contract from Qatar Petroleum for the onshore
facilities of the North Field East Project for four liquefied
natural gas (LNG) trains and associated utility facilities (NFE
Project). To carry out our performance obligation under the
contract, various legal companies and arrangements have
been established, some of which qualify as joint operations
according to IFRS\u00a011 and are accounted at our proportionate
share of such operations and others are joint ventures
accounted for using the equity method.
BAPCO Sitra Refinery is an affiliated company in the form of
a joint\u00a0venture between Technip\u00a0Energies and Samsung
Engineering and T\u00e9cnicas Reunidas. BAPCO Sitra Refinery was
formed in 2018 when awarded a contract from Bahrain
Petroleum Company for the BAPCO Modernization Program
(BMP) for the expansion of the capacity of the existing Sitra
oil refinery on Bahrain\u2019s Eastern coast.
Zeolyst is a joint venture jointly controlled by the Group and
Shell Catalysts & Technologies, an affiliate of Royal Dutch
Shell. The entity specializes in the development,
manufacturing, and commercialization of high-technology
specialty zeolites and zeolite-based catalysts and adsorbent
materials, primarily serving industrial catalysis, environmental
and specialty chemical markets. Zeolyst was acquired as part
of the acquisition of Advanced Materials & Catalysts
completed on December\u00a031, 2025. For more details, please
refer to Note 2. Changes in the scope of consolidation.
The summarized financial information (at 100%) of investments in joint ventures and associates is presented below for all
entities as well as separately for the main equity investments of the Group:
Summarized statement of financial position:
Total for all joint ventures
and\u00a0associates
Coral South & Norte, NFE, Zeolyst
and Bapco only
(In millions of \u20ac)
December\u00a031,
2025
December\u00a031,
2024
December\u00a031,
2025
December\u00a031,
2024
DATA AT 100%
Non-current assets
146.5
42.7
141.4
7.0
Other current assets
538.4
429.6
485.3
374.1
Cash and cash equivalents
485.7
559.2
394.5
428.3
Total current assets
1,024.1
988.7
879.8
802.4
Total non-current liabilities
33.2
33.6
8.7
2.8
Total current liabilities
991.2
1,036.5
899.9
915.1
Net assets at 100%
146.2
(38.6)
112.6
(108.6)
Net assets attributable to Technip Energies
Group
112.7
(6.3)
127.3
(175.0)
Negative investments reclassification
144.4
104.5
116.9
94.6
Investments in equity affiliates
257.1
98.2
244.2
(80.4)
Summarized statement of total comprehensive income:
Total for all joint ventures
and\u00a0associates
Coral South & Norte, NFE
and Bapco only (1)
(In millions of \u20ac)
December\u00a031,
2025
December\u00a031,
2024
December\u00a031,
2025
December\u00a031,
2024
DATA AT 100%
Revenue
1,390.3
2,055.1
1,311.5
1,991.0
Depreciation and amortization
2.5
(2.4)
0.1
(0.2)
Financial income
15.4
21.7
11.3
14.8
Financial expense
(30.0)
(1.0)
(3.3)
\u2014
Income tax (expense) profit
(10.2)
(14.7)
(7.3)
(8.2)
Net profit (loss)
(49.1)
(10.4)
(30.3)
9.8
Other comprehensive income
(4.5)
(6.8)
14.0
(6.5)
TOTAL COMPREHENSIVE INCOME (LOSS)
(53.6)
(17.2)
(16.3)
3.2
(1) The acquisition of Advanced Materials & Catalysts was completed on December\u00a031, 2025. It therefore had no impact on the 2025 consolidated
statement of income. For more details, please refer to Note\u00a02. Changes in the scope of consolidation.
Associates and joint ventures
Company Name
Address
Interest held in %
as of December\u00a031,
2025
BAHRAIN
TTSJV W.L.L.
Block 215, Rd 1531, Bldg 1130, Flt.12 P.O. Box 28110 Muharraq
36
BOSNIA AND HERZEGOVINA
Petrolinvest, D.D. Sarajevo
Tvornicka 3, 71000 Sarajevo
33.01
BRAZIL
FSTP Brasil Ltda.
Rua Professor \u00c1lvaro Rodrigues, n\u00b0 352, 3\u00b0 andar, Botafogo,
22270-000, Rio De Janeiro
25
FRANCE
CTEP France SNC
2126 boulevard de la D\u00e9fense Immeuble Origine CS 10266 92741
Nanterre Cedex
50
Ekwil SAS
2126 boulevard de la D\u00e9fense 92000 Nanterre
50
TP JGC Coral France SNC
2126 boulevard de la D\u00e9fense Immeuble Origine CS 10266 92741
Nanterre Cedex
50
T.EN JGC Coral Norte France SNC
2126 boulevard de la D\u00e9fense Immeuble Origine CS 10266 92741
Nanterre Cedex
50
JAPAN
CTEP Japan
Level 10, Hulic Minatomirai 1-1-7, Sakuragi-cho, Naka-ku
Yokohama-shi, Kanagawa
50
KAZAKHSTAN
TKJV LLP
Av. Abdirova, bld. 3, 100009, Karaganda city, Kazybek bi district
49.5
MEXICO
Ethylene XXI Contractors S.A.P.I. de C.V.
Blvd Manuel \u00c1vila Camacho N\u00famero 32, piso 6, oficina 677,
Col.\u00a0Lomas de Chapultepec, C.P. 11000, Ciudad de M\u00e9xico
40
Desarrolladora de Etileno, S. de R.L. de
C.V.
Blvd Manuel \u00c1vila Camacho N\u00famero 32, piso 6, oficina 677,
Col.\u00a0Lomas de Chapultepec, C.P. 11000, Ciudad de M\u00e9xico
40
MOZAMBIQUE
ENHL - T.EN MOZAMBIQUE, LDA
Av. Vladimir Lenine, 1123, 7\u00ba andar Edif\u00edcio Topazio Maputo
51
JGC FLUOR T.EN MO\u00c7AMBIQUE, LDA
Destrito Urbano 1, Bairro Central, Av. Vladmir L\u00e9nine, n.\u00ba
1123Edif\u00edcio Top\u00e1zio - 7\u00ba andar Maputo
33.33
T.EN CORAL NORTE MOZAMBIQUE
Av. Vladimir Lenine, 1123, 7\u00ba andar Edif\u00edcio Topazio Maputo
50
TP JGC Coral Mozambique, LDA
Av. Vladimir Lenine, 1123, 7\u00ba andar Edif\u00edcio Topazio Maputo
50
NETHERLANDS
Etileno XXI Holding B.V.
Afrikaweg 30, 2713 AW, Zoetermeer
50
Etileno XXI Services B.V.
Beursplein 37, Office 869, 3011 AA Rotterdam
40
ZEOLYST C.V.
Oosterhorn 36, 9936 HD Farmsum, Netherlands
50
PORTUGAL
TSKJ - SERVI\u00c7OS DE ENGENHARIA, LDA.
Avenida Arriaga, number 30, 1 - H, 9000-064 Funchal - Madeira
25
Company Name
Address
Interest held in %
as of December\u00a031,
2025
SAUDI ARABIA
Technip Italy S.p.A. & Dar Al Riyadh for
Engineering Consulting
Khobar Business Gate, Tower B, 7th Floor , King Faisal Bin
Abdul-Aziz Road, P.O. Box 3596, Al Khobar 34423
60
SINGAPORE
FSTP Pte Ltd
50 Gul Road, 629351, Singapore
25
UNITED ARAB EMIRATES
NT Energies LLC
Al Muroor Road, Guardian Office Tower P.O. Box 7657, Abu
Dhabi
49
UNITED STATES
KTJV LLC
601 Jefferson Street Houston, TX 77002
50
ZEOLYST INTERNATIONAL
1700 Kansas Avenue, Kansas City, KS, 66105
50
", "dimensions": { "concept": "ifrs-full:DisclosureOfJointVenturesExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-527": { "value": "Joint operations
The joint operations were as follows as of December\u00a031, 2025, and December\u00a031, 2024:
December\u00a031, 2025
December\u00a031, 2024
(In %)
Place of business/incorporation
Percentage owned
Percentage owned
CTJV
Qatar, France
50.0%
50.0%
STS 58 B.V.
Suriname, Netherlands
48.0%
48.0%
TJN RUWAIS JV
Abu Dhabi, United Arab Emirates
40.0%
40.0%
CTJV is a joint arrangement in the form of a joint operation
between Technip Energies and Chiyoda. CTJV was formed in
2021 when awarded a contract by Qatar Petroleum for the
Engineering, Procurement and Commissioning for the onshore
facilities of the North Field East Project (\u201cNFE\u201d) in Qatar.
STS 58 B.V. is a joint arrangement in the form of a joint
operation between Technip Energies and SBM Offshore. STS
58 B.V. was formed in 2024 when awarded a contract by
TotalEnergies for the GranMorgu Floating Production, Storage
and Offloading vessel (FPSO), located in Block 58, circa
150\u00a0kilometers offshore Suriname.
TJN Ruwais JV is a joint arrangement in the form of a joint
operation between Technip Energies, JGC, and NMDC Energy.
TJN Ruwais JV was formed in 2024 when awarded a contract
by ADNOC for the Engineering, Procurement and Construction
of the lower-carbon Ruwais LNG project, located in Al Ruwais
Industrial City, Abu Dhabi.
Joint operations
Company Name
Address
Interest held in %
as of December\u00a031,
2025
NETHERLANDS
STS 58 B.V.
Evert van de Beekstraat 1, 1118CL Schiphol
48
QATAR
CTJV
Markaz Almana Building 3 rd Floor
Al Matar Street, Najma
P.O. Box: 23169, Doha
50
UNITED ARAB EMIRATES
TJN RUWAIS JV
Guardian Towers
Sheikh Sultan Bin Zayed First & Dhafeer
Street, P.O. Box 7657, Abu Dhabi
40
", "dimensions": { "concept": "ifrs-full:DisclosureOfJointOperationsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-528": { "value": "
Note 10.Financial income (expense)
Total financial income was as follows for the years ended December\u00a031, 2025 , and 2024 :
(In millions of \u20ac)
December\u00a031, 2025
December\u00a031, 2024
Interest income
109.9
145.9
Dividends from non-consolidated investments
0.1
\u2014
Other financial income
5.0
3.3
TOTAL FINANCIAL INCOME
115.0
149.2
Interest income reached \u20ac109.9\u00a0million and \u20ac145.9 \u00a0million as of December\u00a031, 2025, and 2024, respectively. The variation was
mainly caused by the decrease of the average deposit amount during 2025.
Total financial expense was as follows for the years ended December\u00a031, 2025, and 2024 :
(In millions of \u20ac)
December\u00a031, 2025
December\u00a031, 2024
Interest expense
(18.4)
(21.1)
Employee benefit interest expense
(3.1)
(4.1)
Other financial expense
(9.2)
(10.4)
TOTAL FINANCIAL EXPENSE
(30.7)
(35.6)
Total financial expense composed of interest on loans for \u20ac2.1\u00a0million and \u20ac5.4\u00a0million as of December\u00a031, 2025, and 2024
respectively, as well as lease interest for \u20ac6.1\u00a0million and \u20ac4.3\u00a0million as of December\u00a031, 2025, and 2024, respectively.
Other financial expense included fair value of quoted equity instruments for \u20ac1.8\u00a0million and \u20ac3.0 \u00a0million as of December\u00a031,
2025, and 2024, respectively.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-529": { "value": "
Total financial income was as follows for the years ended December\u00a031, 2025 , and 2024 :
(In millions of \u20ac)
December\u00a031, 2025
December\u00a031, 2024
Interest income
109.9
145.9
Dividends from non-consolidated investments
0.1
\u2014
Other financial income
5.0
3.3
TOTAL FINANCIAL INCOME
115.0
149.2
Interest income reached \u20ac109.9\u00a0million and \u20ac145.9 \u00a0million as of December\u00a031, 2025, and 2024, respectively. The variation was
mainly caused by the decrease of the average deposit amount during 2025.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-531": { "value": "
Interest income reached \u20ac109.9\u00a0million and \u20ac145.9 \u00a0million as of December\u00a031, 2025, and 2024, respectively. The variation was
mainly caused by the decrease of the average deposit amount during 2025", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-530": { "value": "
Interest income reached \u20ac109.9\u00a0million and \u20ac145.9 \u00a0million as of December\u00a031, 2025, and 2024, respectively. The variation was
mainly caused by the decrease of the average deposit amount during 2025", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-532": { "value": "
Total financial expense was as follows for the years ended December\u00a031, 2025, and 2024 :
(In millions of \u20ac)
December\u00a031, 2025
December\u00a031, 2024
Interest expense
(18.4)
(21.1)
Employee benefit interest expense
(3.1)
(4.1)
Other financial expense
(9.2)
(10.4)
TOTAL FINANCIAL EXPENSE
(30.7)
(35.6)
Total financial expense composed of interest on loans for \u20ac2.1\u00a0million and \u20ac5.4\u00a0million as of December\u00a031, 2025, and 2024
respectively, as well as lease interest for \u20ac6.1\u00a0million and \u20ac4.3\u00a0million as of December\u00a031, 2025, and 2024, respectively.
Other financial expense included fair value of quoted equity instruments for \u20ac1.8\u00a0million and \u20ac3.0 \u00a0million as of December\u00a031,
2025, and 2024, respectively.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-533": { "value": "
Note 11.Expenses by nature
Operating expenses by nature
Total operating expenses by nature were as follows:
(In millions of \u20ac)
December\u00a031, 2025
December\u00a031, 2024
Employee benefits expenses
(1,667.8)
(1,539.6)
Depreciation and amortization
(121.9)
(110.9)
Purchases, external charges and other expenses
(4,986.1)
(4,618.8)
TOTAL COSTS AND EXPENSES
(6,775.8)
(6,269.3)
", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesByNatureExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-534": { "value": "
Note 12.Payroll staff
As of December\u00a031, 2025, and 2024 , the Technip\u00a0Energies Group employed 18,574 and 17,228 full-time employees, respectively.", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-535": { "value": "
Note 13.Income tax
13.1.Income tax expense
Technip\u00a0Energies\u00a0N.V. is incorporated in the Netherlands. However, for income tax purposes, Technip\u00a0Energies\u00a0N.V. is resident
in France where its effective place of management is located and where some of its main entities operate. Therefore,
Technip\u00a0Energies\u00a0N.V. earnings are subject to tax at the French statutory tax rate of 25.83%.
The following table provides details of current and deferred income taxes recognized for 2025 and 2024:
(In millions of \u20ac)
December\u00a031, 2025
December\u00a031, 2024
Current income tax (expense) profit
(140.7)
(184.4)
Deferred income tax (expense) profit
(10.6)
12.1
INCOME TAX (EXPENSE) PROFIT AS RECOGNIZED
IN THE CONSOLIDATED STATEMENT OF INCOME
(151.3)
(172.3)
Deferred income tax (expense) profit as recognized in other comprehensive
income at opening
8.9
(3.2)
Deferred income tax (expense) profit recognized in other comprehensive
income during the year
(12.3)
12.1
DEFERRED INCOME TAX (EXPENSE) PROFIT AS RECOGNIZED
IN OTHER COMPREHENSIVE INCOME
(3.4)
8.9
Current income tax is mainly composed of corporate income tax due in the jurisdictions where the Group operates, but also
local state taxes and other contributions assimilated to income tax such as the Italian IRAP or the French CVAE. It also
includes taxes withheld on foreign source income when they are not creditable against income tax.
13.2.Income tax reconciliation
The reconciliation between taxes calculated using the statutory tax rate applicable to Technip\u00a0Energies\u00a0N.V. and the amount of
tax effectively recognized in the statement of income is as follows:
(In millions of \u20ac)
December\u00a031,
2025
December\u00a031,
2024
Net profit (loss)
367.1
409.4
Income tax (expense) profit
(151.3)
(172.3)
Profit (loss) before income tax
518.4
581.8
Tax at Technip Energies\u2019 tax rate of 25.83%
(133.9)
(150.3)
Difference between Technip Energies N.V. and affiliates tax rates
28.6
24.8
Non creditable foreign taxes
(9.0)
(11.6)
Other taxes classified as income taxes
(20.6)
(11.0)
Non-deductible expenses for tax purposes
(0.6)
0.2
Net change in tax contingencies
0.8
(3.4)
Adjustments on prior year taxes
(0.4)
2.6
Variation of deferred tax assets not recognized
(27.0)
(29.3)
Share of profit (loss) of equity-accounted investees
1.6
3.1
IFRS adjustments with no tax impact
8.8
1.3
Deferred tax impact related to change in tax rate
0.2
0.6
Other
0.2
0.7
Effective income tax (expense) profit
(151.3)
(172.3)
Effective tax rate
29.2%
29.6%
INCOME TAX (EXPENSE) PROFIT AS RECOGNIZED
IN THE CONSOLIDATED STATEMENT OF INCOME
(151.3)
(172.3)
13.3.Deferred income tax
Significant components of deferred tax assets and liabilities are shown in the following table:
(In millions of \u20ac)
December\u00a031,
2024
Recognized in
Statement of
Income
Recognized in
Statement
of OCI
Net foreign
exchange
difference
Other
December\u00a031,
2025
Tax losses and tax credits
41.5
(5.8)
\u2014
(1.1)
(0.5)
34.1
Foreign exchange derivatives
19.6
(3.7)
(4.8)
0.1
1.0
12.2
Defined benefit pension obligation
36.7
(8.0)
0.9
(0.9)
\u2014
28.7
Contingencies
21.3
(8.6)
\u2014
(2.0)
(0.1)
10.6
Revenue recognition
106.9
21.3
\u2014
(5.7)
1.5
124.0
Intangible and other assets
16.3
(0.8)
\u2014
(0.1)
(0.9)
14.5
Lease liabilities
48.7
8.8
\u2014
(0.8)
(0.3)
56.4
Other
1.1
0.1
(0.3)
(0.2)
0.2
0.9
Offsetting
(138.0)
3.3
(0.4)
\u2014
(21.5)
(156.6)
Total deferred tax assets
154.1
6.6
(4.6)
(10.7)
(20.6)
124.8
Foreign exchange derivatives
(12.3)
1.8
(8.8)
\u2014
(0.8)
(20.1)
Defined benefit pension obligation
(4.7)
(1.6)
(0.2)
0.2
\u2014
(6.3)
Contingencies
(0.1)
\u2014
\u2014
\u2014
\u2014
(0.1)
Revenue recognition
(44.0)
(12.3)
\u2014
4.3
\u2014
(52.0)
Intangible and other assets
(21.9)
0.7
\u2014
2.6
(0.7)
(19.3)
Right-of-use assets
(46.8)
(9.6)
\u2014
0.5
0.2
(55.7)
Other
(12.5)
7.1
(0.5)
\u2014
1.0
(4.9)
Offsetting
138.0
(3.3)
0.4
\u2014
21.5
156.6
Total deferred tax liabilities
(4.3)
(17.2)
(9.1)
7.6
21.2
(1.8)
DEFERRED TAX ASSETS
(LIABILITIES), NET
149.8
(10.6)
(13.7)
(3.1)
0.6
123.0
(In millions of \u20ac)
December\u00a031,
2023
Recognized
in Statement
of Income
Recognized
in Statement
of OCI
Net foreign
exchange
difference
Other
December\u00a031,
2024
Tax losses and tax credits
31.2
0.6
\u2014
1.6
8.1
41.5
Foreign exchange derivatives
8.4
\u2014
11.1
0.1
\u2014
19.6
Defined benefit pension obligation
34.8
1.9
(0.4)
0.4
\u2014
36.7
Contingencies
14.1
6.5
\u2014
0.7
\u2014
21.3
Revenue recognition
83.7
29.0
\u2014
2.8
(8.6)
106.9
Intangible and other assets
16.1
(0.4)
\u2014
0.4
0.2
16.3
Lease liabilities
54.0
(5.0)
\u2014
(0.6)
0.3
48.7
Other
1.9
(1.0)
\u2014
\u2014
0.2
1.1
Offsetting
(107.6)
(11.4)
\u2014
\u2014
(19.0)
(138.0)
Total deferred tax assets
136.6
20.2
10.7
5.4
(18.8)
154.1
Foreign exchange derivatives
(11.0)
(4.5)
2.9
\u2014
0.3
(12.3)
Defined benefit pension obligation
(2.6)
(2.1)
0.1
(0.1)
\u2014
(4.7)
Contingencies
(0.6)
0.5
\u2014
\u2014
\u2014
(0.1)
Revenue recognition
(35.9)
(6.4)
\u2014
(1.8)
0.1
(44.0)
Intangible and other assets
(20.7)
0.2
\u2014
(1.3)
(0.1)
(21.9)
Right-of-use assets
(50.8)
4.0
\u2014
\u2014
\u2014
(46.8)
Other
(0.5)
(11.2)
\u2014
\u2014
(0.8)
(12.5)
Offsetting
107.6
11.4
\u2014
\u2014
19.0
138.0
Total deferred tax liabilities
(14.5)
(8.1)
3.0
(3.2)
18.5
(4.3)
DEFERRED TAX ASSETS
(LIABILITIES), NET
122.1
12.1
13.7
2.2
(0.3)
149.8
13.4.Tax losses and tax credits
Deferred tax assets are recognized for tax losses and tax
credits to the extent that the realization of the related tax
benefit through offset against future taxable profit is
probable.
As of December\u00a031, 2025, and 2024, deferred tax assets
excluded certain tax benefits related to net operating loss
carryforwards, notably in Saudi Arabia and Mexico.
Management believes it is more likely than not that we will
not be able to utilize part of these operating loss carry
forwards.
These unrecognized deferred tax assets amounted to
\u20ac84.6\u00a0million and \u20ac87.8\u00a0million as of December\u00a031, 2025, and
2024, respectively.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-536": { "value": "Deferred income tax
Significant components of deferred tax assets and liabilities are shown in the following table:
(In millions of \u20ac)
December\u00a031,
2024
Recognized in
Statement of
Income
Recognized in
Statement
of OCI
Net foreign
exchange
difference
Other
December\u00a031,
2025
Tax losses and tax credits
41.5
(5.8)
\u2014
(1.1)
(0.5)
34.1
Foreign exchange derivatives
19.6
(3.7)
(4.8)
0.1
1.0
12.2
Defined benefit pension obligation
36.7
(8.0)
0.9
(0.9)
\u2014
28.7
Contingencies
21.3
(8.6)
\u2014
(2.0)
(0.1)
10.6
Revenue recognition
106.9
21.3
\u2014
(5.7)
1.5
124.0
Intangible and other assets
16.3
(0.8)
\u2014
(0.1)
(0.9)
14.5
Lease liabilities
48.7
8.8
\u2014
(0.8)
(0.3)
56.4
Other
1.1
0.1
(0.3)
(0.2)
0.2
0.9
Offsetting
(138.0)
3.3
(0.4)
\u2014
(21.5)
(156.6)
Total deferred tax assets
154.1
6.6
(4.6)
(10.7)
(20.6)
124.8
Foreign exchange derivatives
(12.3)
1.8
(8.8)
\u2014
(0.8)
(20.1)
Defined benefit pension obligation
(4.7)
(1.6)
(0.2)
0.2
\u2014
(6.3)
Contingencies
(0.1)
\u2014
\u2014
\u2014
\u2014
(0.1)
Revenue recognition
(44.0)
(12.3)
\u2014
4.3
\u2014
(52.0)
Intangible and other assets
(21.9)
0.7
\u2014
2.6
(0.7)
(19.3)
Right-of-use assets
(46.8)
(9.6)
\u2014
0.5
0.2
(55.7)
Other
(12.5)
7.1
(0.5)
\u2014
1.0
(4.9)
Offsetting
138.0
(3.3)
0.4
\u2014
21.5
156.6
Total deferred tax liabilities
(4.3)
(17.2)
(9.1)
7.6
21.2
(1.8)
DEFERRED TAX ASSETS
(LIABILITIES), NET
149.8
(10.6)
(13.7)
(3.1)
0.6
123.0
(In millions of \u20ac)
December\u00a031,
2023
Recognized
in Statement
of Income
Recognized
in Statement
of OCI
Net foreign
exchange
difference
Other
December\u00a031,
2024
Tax losses and tax credits
31.2
0.6
\u2014
1.6
8.1
41.5
Foreign exchange derivatives
8.4
\u2014
11.1
0.1
\u2014
19.6
Defined benefit pension obligation
34.8
1.9
(0.4)
0.4
\u2014
36.7
Contingencies
14.1
6.5
\u2014
0.7
\u2014
21.3
Revenue recognition
83.7
29.0
\u2014
2.8
(8.6)
106.9
Intangible and other assets
16.1
(0.4)
\u2014
0.4
0.2
16.3
Lease liabilities
54.0
(5.0)
\u2014
(0.6)
0.3
48.7
Other
1.9
(1.0)
\u2014
\u2014
0.2
1.1
Offsetting
(107.6)
(11.4)
\u2014
\u2014
(19.0)
(138.0)
Total deferred tax assets
136.6
20.2
10.7
5.4
(18.8)
154.1
Foreign exchange derivatives
(11.0)
(4.5)
2.9
\u2014
0.3
(12.3)
Defined benefit pension obligation
(2.6)
(2.1)
0.1
(0.1)
\u2014
(4.7)
Contingencies
(0.6)
0.5
\u2014
\u2014
\u2014
(0.1)
Revenue recognition
(35.9)
(6.4)
\u2014
(1.8)
0.1
(44.0)
Intangible and other assets
(20.7)
0.2
\u2014
(1.3)
(0.1)
(21.9)
Right-of-use assets
(50.8)
4.0
\u2014
\u2014
\u2014
(46.8)
Other
(0.5)
(11.2)
\u2014
\u2014
(0.8)
(12.5)
Offsetting
107.6
11.4
\u2014
\u2014
19.0
138.0
Total deferred tax liabilities
(14.5)
(8.1)
3.0
(3.2)
18.5
(4.3)
DEFERRED TAX ASSETS
(LIABILITIES), NET
122.1
12.1
13.7
2.2
(0.3)
149.8
", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-537": { "value": "
Note 17.Other assets (non-current and current)
Other n on-current assets are as follows:
(In millions of \u20ac)
December\u00a031,
2025
December\u00a031,
2024
Financial assets at amortized cost, gross
66.5
54.9
Impairment allowance of financial assets at amortized cost
(19.6)
(4.2)
Non-current financial assets at amortized cost, net
46.9
50.7
Financial assets at fair value through OCI, gross
144.8
110.6
Fair value adjustment
0.1
2.4
Non-current financial assets at fair value through OCI, net
144.9
113.0
Quoted equity instruments at FVTPL
24.4
24.4
Fair value adjustment
(14.2)
(12.4)
Non-current financial assets at FVTPL, net
10.2
12.0
Derivative assets
14.9
4.3
Other lease receivable
0.6
1.0
Other non-current assets, total
15.5
5.3
TOTAL OTHER NON-CURRENT ASSETS
217.6
181.0
Other current assets are as follows:
(In millions of \u20ac)
December\u00a031,
2025
December\u00a031,
2024
Value added and other tax receivables
271.1
213.0
Other receivables
17.4
71.8
Current financial assets at amortized cost
43.3
\u2014
Prepaid expenses
91.3
53.3
Derivative assets
40.5
15.6
Inventories
60.0
25.7
Other
8.1
13.4
TOTAL OTHER CURRENT ASSETS
531.7
392.8
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-538": { "value": "on-current assets are as follows:
(In millions of \u20ac)
December\u00a031,
2025
December\u00a031,
2024
Financial assets at amortized cost, gross
66.5
54.9
Impairment allowance of financial assets at amortized cost
(19.6)
(4.2)
Non-current financial assets at amortized cost, net
46.9
50.7
Financial assets at fair value through OCI, gross
144.8
110.6
Fair value adjustment
0.1
2.4
Non-current financial assets at fair value through OCI, net
144.9
113.0
Quoted equity instruments at FVTPL
24.4
24.4
Fair value adjustment
(14.2)
(12.4)
Non-current financial assets at FVTPL, net
10.2
12.0
Derivative assets
14.9
4.3
Other lease receivable
0.6
1.0
Other non-current assets, total
15.5
5.3
TOTAL OTHER NON-CURRENT ASSETS
217.6
181.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-539": { "value": "urrent assets are as follows:
(In millions of \u20ac)
December\u00a031,
2025
December\u00a031,
2024
Value added and other tax receivables
271.1
213.0
Other receivables
17.4
71.8
Current financial assets at amortized cost
43.3
\u2014
Prepaid expenses
91.3
53.3
Derivative assets
40.5
15.6
Inventories
60.0
25.7
Other
8.1
13.4
TOTAL OTHER CURRENT ASSETS
531.7
392.8
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-540": { "value": "
Valuation allowances for trade receivables and contract assets have changed as shown in the following table:
December\u00a031, 2025
December\u00a031, 2024
(In millions of \u20ac)
Trade receivables
Contract assets
Trade receivables
Contract assets
Gross amount
1,476.3
382.1
1,173.8
482.3
Opening loss allowance
(77.1)
(1.1)
(142.1)
(0.7)
Change in expected credit loss
(1.1)
0.1
(0.4)
(0.4)
Increase in loss allowance
(22.5)
\u2014
(9.3)
\u2014
Used allowance reversals
6.9
\u2014
12.7
\u2014
Unused allowance reversals
13.5
\u2014
21.9
\u2014
Effects of foreign exchange
3.1
\u2014
(2.3)
\u2014
Other
0.2
\u2014
42.5
\u2014
Closing loss allowance
(77.0)
(1.0)
(77.0)
(1.1)
TOTAL, NET
1,399.3
381.2
1,096.8
481.3
", "dimensions": { "concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-541": { "value": "
Note 20.Other liabilities (non-current and current)
The following table provides a breakdown of other non-current liabilities:
(In millions of \u20ac)
December\u00a031, 2025
December\u00a031, 2024
Subsidies
3.7
3.6
Derivative liabilities
7.8
23.3
Other(1)
155.9
132.2
TOTAL OTHER NON-CURRENT LIABILITIES
167.5
159.1
(1)Including reclassification of negative investments. For further details, please refer to Note\u00a09. Investments in equity affiliates.
The following table provides a breakdown of other current liabilities:
(In millions of \u20ac)
December\u00a031, 2025
December\u00a031, 2024
Redeemable financial liability
0.1
0.5
Total current financial liability at FVTPL
0.1
0.5
Accruals on completed contracts
27.5
42.1
Other tax payable
105.4
125.2
Social security liabilities
41.9
57.8
Derivative liabilities
9.3
36.2
Other(1)
95.9
116.2
Total other current liabilities
280.0
377.4
TOTAL OTHER CURRENT LIABILITIES
280.1
377.9
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-542": { "value": "
The following table provides a breakdown of other non-current liabilities:
(In millions of \u20ac)
December\u00a031, 2025
December\u00a031, 2024
Subsidies
3.7
3.6
Derivative liabilities
7.8
23.3
Other(1)
155.9
132.2
TOTAL OTHER NON-CURRENT LIABILITIES
167.5
159.1
(1)Including reclassification of negative investments. For further details, please refer to Note\u00a09. Investments in equity affiliates.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-543": { "value": "
The following table provides a breakdown of other current liabilities:
(In millions of \u20ac)
December\u00a031, 2025
December\u00a031, 2024
Redeemable financial liability
0.1
0.5
Total current financial liability at FVTPL
0.1
0.5
Accruals on completed contracts
27.5
42.1
Other tax payable
105.4
125.2
Social security liabilities
41.9
57.8
Derivative liabilities
9.3
36.2
Other(1)
95.9
116.2
Total other current liabilities
280.0
377.4
TOTAL OTHER CURRENT LIABILITIES
280.1
377.9
(1)As of December\u00a031, 2025, \u201cOther\u201d notably includes \u20ac33.5\u00a0million of payables on tangible, intangible and investments, the short-term portion of
provisions for pensions and other employee benefits for \u20ac13.7\u00a0million, \u20ac13.6\u00a0million of deferred income, a \u20ac11.9\u00a0million liability incurred by Technip
Energies N.V. in relation to the Spin-off, government grants for \u20ac7.1\u00a0million and \u20ac5.0\u00a0million of reclassification of negative investments (for further
details, please refer to Note\u00a09. Investments in equity affiliates). As of December\u00a031, 2024, \u201cOther\u201d notably included \u20ac26.1\u00a0million of payables on
tangible, intangible and investments, \u20ac15.6\u00a0million of deferred income, government grants for \u20ac12.0\u00a0million, a \u20ac11.9\u00a0million liability incurred by Technip
Energies N.V. in relation to the Spin-off, the short-term portion of provisions for pensions, other employee benefits for \u20ac7.0\u00a0million and \u20ac5.7\u00a0million of
reclassification of negative investments (for further details, please refer to Note\u00a09. Investments in equity affiliates).
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-544": { "value": "
Note 21.Accounts payable, trade
Accounts payable, trade amounted to \u20ac 1,402.4\u00a0million and \u20ac 1,517.2\u00a0million as of December\u00a031, 2025, and 2024, respectively.
Accounts payable, trade maturities are linked to the operating cycle of contracts and mature within 12 months.
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-545": { "value": "1402400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers", "entity": "scheme:724500FLODI49NSCIP70", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-546": { "value": "1517200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-547": { "value": "
Note 22.Debt (long and short-term debt)
Long and short-term debt consisted of the following:
December\u00a031, 2025
December\u00a031, 2024
(In millions of \u20ac)
Carrying amount
Fair value
Carrying amount
Fair value
Bonds
601.9
576.5
601.0
560.7
Commercial papers
298.6
300.0
79.9
80.0
Bank borrowings and other
87.3
87.3
50.5
50.5
Financial debts
987.8
963.8
731.4
691.2
Lease liability
256.2
256.2
249.3
249.3
FINANCIAL DEBTS & LEASE LIABILITY
1,244.0
1,220.0
980.7
940.5
The split by maturity as of December\u00a031, 2025 , was as follows:
(In millions of \u20ac)
Maturity
<\u00a01 year
Within 2
years
Within 3
years
Thereafter
Bonds
601.9
4.0
\u2014
597.9
\u2014
Commercial papers
298.6
298.6
\u2014
\u2014
\u2014
Bank borrowings and other
87.3
6.9
0.2
0.1
80.1
Financial debts
987.8
309.5
0.2
598.0
80.1
Lease liability
256.2
61.6
39.5
48.9
106.3
FINANCIAL DEBTS & LEASE LIABILITY
1,244.0
371.1
39.7
646.9
186.4
The split by maturity as of December\u00a031, 2024 , was as follows:
(In millions of \u20ac)
Maturity
<\u00a01 year
Within 2
years
Within 3
years
Thereafter
Bonds
601.0
4.0
\u2014
\u2014
597.0
Commercial papers
79.9
79.9
\u2014
\u2014
\u2014
Bank borrowings and other
50.5
9.9
0.2
0.2
40.2
Financial debts
731.4
93.8
0.2
0.2
637.2
Lease liability
249.3
56.9
43.5
30.6
118.3
FINANCIAL DEBTS & LEASE LIABILITY
980.7
150.7
43.7
30.8
755.5
The movements over the period December\u00a031, 2024, to December\u00a031, 2025, were as follows:
(In millions of \u20ac)
Bonds(1)
Commercial
papers
Bank
borrowings
and other
Lease
liability
Total
Value as of December\u00a031, 2024
601.0
79.9
50.5
249.3
980.7
Increase \u2013 issuance
7.6
260.0
40.8
100.9
409.3
Decrease \u2013 reimbursement
(6.8)
(41.3)
(5.3)
(82.3)
(135.7)
Change in scope of consolidation
\u2014
\u2014
1.7
0.8
2.5
Foreign exchange
\u2014
\u2014
(0.4)
(12.5)
(12.9)
Others
\u2014
\u2014
\u2014
\u2014
\u2014
VALUE AS OF DECEMBER\u00a031, 2025
601.9
298.6
87.3
256.2
1,244.0
(1)Increase of \u20ac7.6\u00a0million mainly includes accrued interests on bonds.
The movements over the period December\u00a031, 2023, to December\u00a031, 2024, were as follows:
(In millions of \u20ac)
Bonds(1)
Commercial
papers
Bank
borrowings
and other
Lease
liability
Total
Value as of December\u00a031, 2023
600.2
79.8
81.2
232.3
993.5
Increase \u2013 issuance
7.6
85.0
327.5
90.2
510.3
Decrease \u2013 reimbursement
(6.8)
(84.9)
(358.0)
(77.2)
(526.9)
Foreign exchange
\u2014
\u2014
(0.2)
4.2
4.0
Others
\u2014
\u2014
\u2014
(0.2)
(0.2)
VALUE AS OF DECEMBER\u00a031, 2024
601.0
79.9
50.5
249.3
980.7
(1)Increase of \u20ac7.6\u00a0million mainly includes accrued interests on bonds.
Commercial paper
Under the commercial paper program, the Technip\u00a0Energies
Group, through its treasury center company T.EN Eurocash
SNC, has the ability to access up to \u20ac750\u00a0million of short-
term financing through commercial paper dealers. The
program is rated \u201cA-2\u201d by S&P Global as of December\u00a031,
2025. The Technip\u00a0Energies Group\u2019s Euro-based commercial
paper borrowings had a weighted average interest rate of
2.17%.
Revolving Facility and Senior unsecured notes
On March\u00a014, 2025, Technip Energies N.V. and T.EN Eurocash
SNC entered into a senior unsecured Revolving Facility with
Cr\u00e9dit Agricole Corporate and Investment Bank, as agent, and
the lenders party thereto. As a result, the Revolving Facility
signed on February\u00a010, 2021 was simultaneously terminated
and replaced.
Total commitments under the 2025 Revolving Facility are
\u20ac750\u00a0million. Subject to certain conditions, the Company may
request the aggregate commitments to be increased by up to
\u20ac250\u00a0million to reach \u20ac1.0\u00a0billion. For further information on
the Revolving Facility, refer to Note 28. Market-related
exposure.
The Revolving Facility provides for an initial five-year tenor
from the signing date with two possible extensions of one year
each. The first extension was successfully completed on
January\u00a016, 2026. Consequently, the termination date of the
Revolving Facility is March\u00a014, 2031.
The Revolving Facility is available in euro only. The Company
does not intend to draw upon the Revolving Facility in the
ordinary course.
The Revolving Facility contains customary covenants,
representations and warranties, mandatory prepayments, and
events of default for investment-grade credit facilities of this
type. It does not include any financial covenant. The
Revolving Facility retained the sustainability arrangements
and the three key performance indicators from the revolving
facility signed in 2021. They shall be updated by March\u00a031,
2026 at the latest.
On May\u00a028, 2021, the Company issued its inaugural
\u20ac600\u00a0million of 1.125% senior unsecured notes due in 2028
(the \u201c Notes\u201d), the proceeds of which were for general
corporate purpose, including the refinancing (which occurred
on May\u00a031, 2021) of \u20ac620\u00a0million drawings under a bridge
facility made available to the Company in connection with
the Spin-off from TechnipFMC. The interest on the Notes is
paid annually on May\u00a028 of each year, beginning on May\u00a028,
2022. The Notes were admitted to trading on the regulated
market of Euronext Paris and rated \u201cBBB\u201d by S&P Global as of
December\u00a031, 2025.
Facility Agreement with the European Investment
Bank
On November\u00a028, 2025, Technip Energies N.V. entered into a
senior unsecured Facility Agreement of \u20ac40\u00a0million with the
European Investment Bank. As part of the EIB\u2019s TechEU
initiative, the financing aims to support Technip Energies\u2019
clean and circular technologies research and development
investments over the period up to 2028, as well as the
Company\u2019s textile recycling subsidiary Reju and its
demonstration hub.
The EIB Facility was fully drawn down on December\u00a019, 2025.
The maturity date of the loan will be December\u00a019, 2039.
The EIB Facility contains customary covenants,
representations and warranties, mandatory prepayments, and
events of default for similar facilities with the European
Investment Bank, and they are largely aligned with that of
the Revolving Facility. The EIB Facility does not include any
financial covenant.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-548": { "value": "
Note 23.Shareholders\u2019 equity
23.1.Shareholders\u2019 equity activity
As of December\u00a031, 2025 , Technip\u00a0Energies\u00a0N.V. had 178,378,708 common shares issued with a nominal value of \u20ac0.01 per
share. After deduction of 2,865,952 treasury shares, the number of shares outstanding is 175,512,756.
Changes in shares outstanding are as follows:
(In number of shares)
Shares issued as of December 31, 2024
178,378,708
Shares cancellation
\u2014
Shares issued as of December 31, 2025
178,378,708
Treasury shares
(2,865,952)
SHARES OUTSTANDING AS OF DECEMBER\u00a031, 2025
175,512,756
Refer to Note 7 for more information about the number of shares considered for the calculation of earnings per share.
23.2.Dividends
(In millions of \u20ac)
2025
Final dividend for the year ended\u00a0 December 31, 2024, of \u20ac0.85 per outstanding common share
150.2
Interim dividend for the year ended\u00a0 December 31, 2025
N/A
TOTAL DIVIDENDS PROVIDED FOR OR PAID
150.2
Dividends paid in cash or satisfied by the issue of shares during the year ended December 31, 2025
Paid in cash
150.2
Satisfied by issue of shares
N/A
TOTAL DIVIDENDS PAID IN CASH OR SATISFIED BY ISSUE OF SHARES
FOR THE YEAR ENDED DECEMBER 31, 2025
150.2
Dividends not recognized at the end of the reporting period
In addition to the above dividends, a dividend of \u20ac1.0 per share amounting to \u20ac176.5 million will be
proposed to the Group\u2019s Annual Shareholder\u2019 Meeting of May 5, 2026, in respect of the financial year
ended December 31, 2025. The aggregate amount of the proposed dividend expected to be paid but not
recognized as a liability as of December 31, 2025, is:
176.5
23.3.Share repurchase
As of December\u00a031, 2025 , treasury shares represent a total of
2,865,952 shares and are deducted from the Group\u2019s
consolidated equity for a total value of \u20ac 79.1\u00a0million.
Liquidity contract
During the year ended December\u00a031, 2025, the Group
disposed of a net number of 123,434 shares for a total net
value of \u20ac 4.2 \u00a0million. On December\u00a031, 2025, the Group held
153,185 own shares deducted from consolidated equity for a
total value of \u20ac3.3\u00a0million. The amount allocated to its
Shares Liquidity Program as of December\u00a031, 2025, was
\u20ac6.6\u00a0million.
Share buy-back program
On May\u00a012, 2025, Technip Energies announced the launch of a
share buy-back program of up to \u20ac45.0\u00a0million, to be used to
fulfill the Company\u2019s obligations under equity compensation
plans.
The program, which provides for the repurchase of up to
1.5\u00a0million shares, has been carried out as per December\u00a031,
2025.
The share buy-back program was decided by the Board of
Directors. It is executed in accordance with the authorization
to repurchase shares granted by the Company\u2019s Annual
General Meeting on May\u00a06, 2025, and pursuant to the
provisions of Article 5 of the Market Abuse Regulation (EU)
596/2014 and Commission Delegated Regulation (EU)
2016/1052.
As of December\u00a031, 2025, 1,265,324 shares have been
purchased. These treasury shares are deducted from
consolidated equity for a total value of \u20ac45.0 \u00a0million.
23.4.Accumulated other comprehensive income (loss)
Accumulated other comprehensive income (loss) is as follows:
(In millions of \u20ac)
Cash flow
hedges
Gains
(losses) on
defined
benefit
pension
plans
Equity
investment
s at FVOCI
Foreign
currency
translation
Accumulated
other
comprehensive
income (loss)
attributable to
Technip\u00a0Energies
Accumulated
other
comprehensive
income/(loss) \u2013
non-controlling
interests
Total
accumulated
other
comprehensive
income/(loss)
Balance as of December 31, 2023
14.2
(8.7)
\u2014
(93.2)
(87.7)
(0.3)
(88.0)
Gross effect before
reclassification to profit or loss
(89.1)
0.5
2.4
42.7
(43.5)
(0.1)
(43.6)
Deferred tax
12.7
(0.1)
(0.5)
\u2014
12.1
\u2014
12.1
Reclassification to profit or loss
11.2
\u2014
\u2014
0.2
11.4
\u2014
11.4
Balance as of December 31, 2024
(51.0)
(8.3)
1.9
(50.3)
(107.7)
(0.4)
(108.1)
Gross effect before
reclassification to profit or loss
140.0
0.1
(2.3)
(130.2)
7.6
0.9
8.5
Deferred tax
(12.6)
(0.2)
0.5
\u2014
(12.3)
\u2014
(12.3)
Reclassification to profit or loss
(22.1)
\u2014
\u2014
(2.1)
(24.2)
\u2014
(24.2)
BALANCE
AS OF DECEMBER 31, 2025
54.3
(8.4)
0.1
(182.6)
(136.6)
0.5
(136.1)
", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-549": { "value": "Shareholders\u2019 equity activity
As of December\u00a031, 2025 , Technip\u00a0Energies\u00a0N.V. had 178,378,708 common shares issued with a nominal value of \u20ac0.01 per
share. After deduction of 2,865,952 treasury shares, the number of shares outstanding is 175,512,756.
Changes in shares outstanding are as follows:
(In number of shares)
Shares issued as of December 31, 2024
178,378,708
Shares cancellation
\u2014
Shares issued as of December 31, 2025
178,378,708
Treasury shares
(2,865,952)
SHARES OUTSTANDING AS OF DECEMBER\u00a031, 2025
175,512,756
Refer to Note 7 for more information about the number of shares considered for the calculation of earnings per share.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-550": { "value": "Dividends
(In millions of \u20ac)
2025
Final dividend for the year ended\u00a0 December 31, 2024, of \u20ac0.85 per outstanding common share
150.2
Interim dividend for the year ended\u00a0 December 31, 2025
N/A
TOTAL DIVIDENDS PROVIDED FOR OR PAID
150.2
Dividends paid in cash or satisfied by the issue of shares during the year ended December 31, 2025
Paid in cash
150.2
Satisfied by issue of shares
N/A
TOTAL DIVIDENDS PAID IN CASH OR SATISFIED BY ISSUE OF SHARES
FOR THE YEAR ENDED DECEMBER 31, 2025
150.2
Dividends not recognized at the end of the reporting period
In addition to the above dividends, a dividend of \u20ac1.0 per share amounting to \u20ac176.5 million will be
proposed to the Group\u2019s Annual Shareholder\u2019 Meeting of May 5, 2026, in respect of the financial year
ended December 31, 2025. The aggregate amount of the proposed dividend expected to be paid but not
recognized as a liability as of December 31, 2025, is:
176.5
", "dimensions": { "concept": "ifrs-full:DisclosureOfDividendsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-551": { "value": "176500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwners", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-553": { "value": "Share repurchase
As of December\u00a031, 2025 , treasury shares represent a total of
2,865,952 shares and are deducted from the Group\u2019s
consolidated equity for a total value of \u20ac 79.1\u00a0million.
Liquidity contract
During the year ended December\u00a031, 2025, the Group
disposed of a net number of 123,434 shares for a total net
value of \u20ac 4.2 \u00a0million. On December\u00a031, 2025, the Group held
153,185 own shares deducted from consolidated equity for a
total value of \u20ac3.3\u00a0million. The amount allocated to its
Shares Liquidity Program as of December\u00a031, 2025, was
\u20ac6.6\u00a0million.
Share buy-back program
On May\u00a012, 2025, Technip Energies announced the launch of a
share buy-back program of up to \u20ac45.0\u00a0million, to be used to
fulfill the Company\u2019s obligations under equity compensation
plans.
The program, which provides for the repurchase of up to
1.5\u00a0million shares, has been carried out as per December\u00a031,
2025.
The share buy-back program was decided by the Board of
Directors. It is executed in accordance with the authorization
to repurchase shares granted by the Company\u2019s Annual
General Meeting on May\u00a06, 2025, and pursuant to the
provisions of Article 5 of the Market Abuse Regulation (EU)
596/2014 and Commission Delegated Regulation (EU)
2016/1052.
As of December\u00a031, 2025, 1,265,324 shares have been
purchased. These treasury shares are deducted from
consolidated equity for a total value of \u20ac45.0 \u00a0million.
", "dimensions": { "concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-552": { "value": "Share repurchase
As of December\u00a031, 2025 , treasury shares represent a total of
2,865,952 shares and are deducted from the Group\u2019s
consolidated equity for a total value of \u20ac 79.1\u00a0million.
Liquidity contract
During the year ended December\u00a031, 2025, the Group
disposed of a net number of 123,434 shares for a total net
value of \u20ac 4.2 \u00a0million. On December\u00a031, 2025, the Group held
153,185 own shares deducted from consolidated equity for a
total value of \u20ac3.3\u00a0million. The amount allocated to its
Shares Liquidity Program as of December\u00a031, 2025, was
\u20ac6.6\u00a0million.
Share buy-back program
On May\u00a012, 2025, Technip Energies announced the launch of a
share buy-back program of up to \u20ac45.0\u00a0million, to be used to
fulfill the Company\u2019s obligations under equity compensation
plans.
The program, which provides for the repurchase of up to
1.5\u00a0million shares, has been carried out as per December\u00a031,
2025.
The share buy-back program was decided by the Board of
Directors. It is executed in accordance with the authorization
to repurchase shares granted by the Company\u2019s Annual
General Meeting on May\u00a06, 2025, and pursuant to the
provisions of Article 5 of the Market Abuse Regulation (EU)
596/2014 and Commission Delegated Regulation (EU)
2016/1052.
As of December\u00a031, 2025, 1,265,324 shares have been
purchased. These treasury shares are deducted from
consolidated equity for a total value of \u20ac45.0 \u00a0million.
", "dimensions": { "concept": "ifrs-full:DisclosureOfRepurchaseAndReverseRepurchaseAgreementsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-554": { "value": "Accumulated other comprehensive income (loss)
Accumulated other comprehensive income (loss) is as follows:
(In millions of \u20ac)
Cash flow
hedges
Gains
(losses) on
defined
benefit
pension
plans
Equity
investment
s at FVOCI
Foreign
currency
translation
Accumulated
other
comprehensive
income (loss)
attributable to
Technip\u00a0Energies
Accumulated
other
comprehensive
income/(loss) \u2013
non-controlling
interests
Total
accumulated
other
comprehensive
income/(loss)
Balance as of December 31, 2023
14.2
(8.7)
\u2014
(93.2)
(87.7)
(0.3)
(88.0)
Gross effect before
reclassification to profit or loss
(89.1)
0.5
2.4
42.7
(43.5)
(0.1)
(43.6)
Deferred tax
12.7
(0.1)
(0.5)
\u2014
12.1
\u2014
12.1
Reclassification to profit or loss
11.2
\u2014
\u2014
0.2
11.4
\u2014
11.4
Balance as of December 31, 2024
(51.0)
(8.3)
1.9
(50.3)
(107.7)
(0.4)
(108.1)
Gross effect before
reclassification to profit or loss
140.0
0.1
(2.3)
(130.2)
7.6
0.9
8.5
Deferred tax
(12.6)
(0.2)
0.5
\u2014
(12.3)
\u2014
(12.3)
Reclassification to profit or loss
(22.1)
\u2014
\u2014
(2.1)
(24.2)
\u2014
(24.2)
BALANCE
AS OF DECEMBER 31, 2025
54.3
(8.4)
0.1
(182.6)
(136.6)
0.5
(136.1)
", "dimensions": { "concept": "ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-555": { "value": "
Note 24.Pensions and other long-term employee benefit plans
24.1.Description of the Technip\u00a0Energies Group\u2019s benefit plans
Technip\u00a0Energies has two types of retirement plans: defined
benefit plans and defined contribution plans. Depending on
the employing entity, our pension provision encompasses
various defined benefit plans, such as:
\u25a0 End-of-service benefits, to be paid at the termination of
service;
\u25a0 Retirement benefits;
\u25a0 Jubilee benefits;
\u25a0 Post-retirement medical benefits (health care and life
insurance).
The defined benefits obligations are estimated by
independent actuaries using the projected unit credit
actuarial valuation method as per IAS\u00a019 \u201cEmployee
Benefits.\u201d The actuarial assumptions used to determine the
obligations may vary depending on the country, plan duration,
and type of plans. The actuarial estimation is based on usual
parameters such as wage, seniority, age, and assumptions
including discount rate, retirement age, salary increase rate,
life expectancy, staff turnover, and inflation rate.
Plan assets are managed by separate legal entities and
measured at their fair value.
A review of benefit plans is performed for all
Technip\u00a0Energies entities on a yearly basis. Depending on the
collected information, materiality of the plans, or if
significant changes occurred, a full valuation may be
performed. The most material plans are fully evaluated every
year while a rollforward is applied for immaterial plans,
which are fully evaluated every 3 years.
According to IAS\u00a019, Technip\u00a0Energies Group recognized the
funded status of defined benefit plans as an asset or liability
in the consolidated statements. The Group recognized in
Other Comprehensive Income the changes related to
actuarial gains and losses resulting either from actuarial
assumption changes or from experience adjustments. The
Technip\u00a0Energies Group measured its plans\u2019 assets at fair
value as of the date of the consolidated financial statements.
The Technip\u00a0Energies Group has applied this guidance to its
pension and other employee defined benefit plans, which are
primarily located in the Netherlands (36% of Group total
obligations), France (33%), India (12%), the United Arab
Emirates (8%), Italy (3%), and Germany (2%).
In the Netherlands, these obligations are generated by a
legacy-defined benefit plan, which has been closed for new
participants since December\u00a031, 2014. It was agreed that the
entitlement is fixed and that the Company will contribute a
fixed annual amount to the plan assets to finance an
increase of the defined benefit plan pension rights that were
accrued up to December\u00a031, 2014, for a period of 14 years
subsequent to the curtailment of the defined benefit plan.
The Company does not pay any other funding contributions
other than these fixed annual contribution amounts. During
this financing period, the plan continues to pay pension
benefits to the eligible participants as they fall due, using
both the plan assets and the fixed annual contributions
made by the Company. After the 14-year funding period ends,
the Company has no further obligation to contribute to the
plan. However, the plan will continue to pay the remaining
pension benefits from the accumulated plan assets. The
pension provision as of December\u00a031, 2025, represents the
net present value of the remaining annual contribution
payments. The current assets are entirely invested in a Dutch
pension insurance policy.
In France, these obligations are mostly generated by legal or
collectively bargained end-of-career benefit plans and jubilee
plans. The indemnities paid by the French entities when the,
employees retire are calculated based on their Group
seniority and their salary at the time of departure.
The Group obligations with respect to post-employment
health care benefits are not significant.
The Group is expected to pay \u20ac1.4\u00a0million of employer
contribution to the Dutch fund in 2026.
The expected benefit payments (paid by the employer and by the plan assets) for the next 10 years are as follows:
(In millions of \u20ac)
Total expected
benefit payments
France
The Netherlands
Others
2026
16.8
2.1
5.2
9.5
2027
15.6
2.0
5.2
8.4
2028
14.5
1.8
5.2
7.5
2029
13.7
1.3
5.2
7.2
2030
14.0
1.8
5.1
7.1
2031-2035
88.1
32.6
24.6
30.9
TOTAL
162.7
41.6
50.5
70.6
24.2.Net benefit expense recognized in the consolidated statement of income
The net benefit expense recognized in the statement of income is as follows:
(In millions of \u20ac)
December\u00a031,
2025
December\u00a031,
2024
Service cost
15.6
13.1
Interest on DBO
8.6
8.1
Interest on plan asset
(5.5)
(4.0)
Remeasurements of other long-term benefits
1.4
0.5
Special events (curtailment/settlement)
3.0
0.4
DEFINED BENEFIT COST INCLUDED IN THE STATEMENT OF INCOME
23.1
18.1
As of December\u00a031, 2025, the Group recognized \u20ac0.1\u00a0million
of actuarial gains in OCI, including \u20ac2.7\u00a0million generated on
the defined benefit obligation offset by \u20ac2.6\u00a0million actuarial
losses on plan assets.
The actuarial gains of \u20ac2.7\u00a0million are explained by the effect
of changes in financial assumptions in 2025 of \u20ac4.7\u00a0million,
the experience actuarial losses of \u20ac(2.1)\u00a0million and the
effect of the changes in demographic assumptions in 2025 of
\u20ac0.1\u00a0million for all entities of the Group. The losses on the
actuarial return on plan asset of \u20ac(2.6)\u00a0million are mainly
related to the Netherlands asset plans, in which the fair
value is determined as the present value of accrued benefits,
using the year-end 2025 discount rate.
24.3.Defined benefit asset (liability) recognized in the consolidated statement
of financial position
The liability recorded in the statement of financial position is as follows:
December\u00a031, 2025
December\u00a031, 2024
(In millions of \u20ac)
Defined
benefit
obligation
Fair value
of plan
assets
Net
defined
benefit
obligation
Defined
benefit
obligation
Fair value
of plan
assets
Net
defined
benefit
obligation
Defined benefit obligation as of the prior period end date
235.4
(103.1)
132.3
228.1
(103.4)
124.7
Acquisition/divestiture/business combination
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Expense as recorded in the statement of income
28.6
(5.5)
23.1
22.1
(4.0)
18.1
Total current service cost
15.6
\u2014
15.6
13.1
\u2014
13.1
Special events
3.0
\u2014
3.0
\u2014
\u2014
\u2014
Net financial costs
8.6
(5.5)
3.1
8.1
(4.0)
4.1
Actuarial gains of the year
1.4
\u2014
1.4
0.5
\u2014
0.5
Actuarial (gain) loss recognized in other comprehensive
income
(2.7)
2.6
(0.1)
(3.0)
2.2
(0.8)
Actuarial (gain) loss on defined benefit obligation
(2.7)
2.6
(0.1)
(3.0)
2.2
(0.8)
\u25a0 Experience
2.1
2.1
3.1
\u2014
3.1
\u25a0 Financial assumptions
(4.7)
\u2014
(4.7)
(5.2)
\u2014
(5.2)
\u25a0 Demographic assumptions
(0.1)
\u2014
(0.1)
(0.9)
\u2014
(0.9)
Actuarial (gain) loss on plan assets
\u2014
2.6
2.6
\u2014
2.2
2.2
Contributions and benefits paid
(17.8)
(34.6)
(52.4)
(14.6)
2.8
(11.8)
Contributions by employer
\u2014
(44.7)
(44.7)
\u2014
(2.8)
(2.8)
Benefits paid by employer
(7.7)
\u2014
(7.7)
(9.0)
\u2014
(9.0)
Benefits paid from plan assets
(10.1)
10.1
\u2014
(5.6)
5.6
\u2014
Exchange difference and other settlements
(8.4)
3.4
(5.0)
2.8
(0.7)
2.1
DEFINED BENEFIT OBLIGATION
AS OF THE PERIOD END DATE
235.1
(137.3)
97.8
235.4
(103.1)
132.3
As of December\u00a031, 2025, the defined benefit obligation included \u20ac172.1\u00a0million for funded plans (compared to \u20ac113.2\u00a0million in
2024) and \u20ac62.9\u00a0million for unfunded plans (compared to \u20ac122.2\u00a0million in 2024).
The breakdown of the net defined-benefit liability by type of benefit plans is as follows:
(In millions of \u20ac)
December\u00a031,
2025
December\u00a031,
2024
Pension plans
44.6
81.7
End-of-service benefits
41.8
42.4
Other long-term benefits
11.4
8.2
NET DEFINED BENEFIT OBLIGATION
97.8
132.3
The table below presents the liabilities per country:
December\u00a031, 2025
(In millions of \u20ac)
Defined benefit
obligation
Assets
Liabilities
France
61.8
(39.1)
38.5
The Netherlands
83.6
(79.4)
5.1
Other
26.8
(18.7)
54.2
TOTAL
172.2
(137.2)
97.8
24.4.Actuarial assumptions
In 2025, the average duration of the Group\u2019s liability is 11.08
years. The average duration is 14.38 years in France and 11.68
years in the Netherlands.
In the Eurozone, the rates used to discount obligations are
fixed by reference to the yields of bonds issued by
companies within the main iBoxx Corporate AA index
considering the duration of each plan.
In the Eurozone, the inflation rate used to calculate the
obligations is fixed by reference to the long-term inflation
target of 2.0% set by the European Central Bank with an
adjustment to reflect long-term economic forecast.
The following assumptions have been used:
As of December 31, 2025
France
The Netherlands
Weighted-
average rate
Discount rate
3.75%
3.75%
4.18%
Inflation rate
2.00%
2.00%
2.01%
Salary increases
5.85%
2.70%
6.71%
As of December 31, 2024
France
The Netherlands
Weighted-
average rate
Discount rate
3.50%
3.50%
4.05%
Inflation rate
2.00%
2.00%
2.04%
Salary increases
5.86%
2.70%
6.42%
The sensitivity analyses performed and associated variation in the defined benefit obligation are the following ones:
As of December 31, 2025
France
The Netherlands
Weighted-
average rate
Impact of a 50-bps increase or decrease in the discount rate
6.95%
5.37%
5.00%
Impact of a 50-bps increase or decrease in the inflation rate
0.14%
\u2014%
0.18%
Impact of a 50-bps increase or decrease in the salary increase
6.83%
0.06%
2.86%
Asset plan breakdown:
December\u00a031,
2025
December\u00a031,
2024
Equity instruments (shares)
\u2014%
\u2014%
Debt instruments (bonds)
\u2014%
\u2014%
Others
\u2014%
\u2014%
Insured assets
100%
100%
", "dimensions": { "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-556": { "value": "
Note 25.Provisions (non-current and current)
The principles used to evaluate the amounts and types of provisions for liabilities and charges are described in Note 1.
Accounting principles .
Movements in provisions in the year ended December\u00a031, 2025 , were as follows:
(In millions of \u20ac)
December\u00a031,
2024
Increase
Used
reversal
Unused
reversal
Other
December\u00a031,
2025
Contingencies related
to\u00a0contracts (1)
67.6
\u2014
(1.6)
(30.3)
(4.9)
30.7
Litigation
11.5
\u2014
(3.5)
\u2014
2.6
10.6
Restructuring obligations
10.1
0.5
(0.8)
\u2014
(7.8)
2.0
Provisions for claims
8.9
3.7
\u2014
\u2014
\u2014
12.5
Other non-current provisions
2.8
4.9
(0.5)
(3.1)
17.7
21.8
Total non-current provisions
100.8
9.1
(6.4)
(33.4)
7.6
77.6
Contingencies related
to\u00a0contracts (1)
85.7
57.1
(22.5)
(37.4)
4.5
87.4
Litigation
3.4
0.9
(0.2)
\u2014
(2.8)
1.3
Restructuring obligations
4.1
8.7
(9.3)
\u2014
1.0
4.4
Provisions for claims
3.3
8.7
(0.3)
(1.7)
\u2014
10.0
Other current provisions
12.6
6.4
(1.6)
\u2014
(10.3)
7.2
Total current provisions
109.1
81.8
(33.9)
(39.1)
(7.6)
110.2
TOTAL PROVISIONS
209.9
90.9
(40.3)
(72.5)
\u2014
187.9
(1)Provisions for project close-out.
Movements in provisions in the year ended December\u00a031, 2024, were as follows:
(In millions of \u20ac)
December\u00a031,
2023
Increase
Used
reversal
Unused
reversal
Other
December\u00a031,
2024
Contingencies related
to\u00a0contracts (1)
41.0
37.2
\u2014
\u2014
(10.6)
67.6
Litigation
15.2
\u2014
\u2014
(2.3)
(1.4)
11.5
Restructuring obligations
11.3
1.1
(0.8)
\u2014
(1.5)
10.1
Provisions for claims
8.3
0.6
\u2014
\u2014
\u2014
8.9
Other non-current provisions
4.3
0.5
\u2014
(0.6)
(1.4)
2.8
Total non-current provisions
80.1
39.3
(0.8)
(2.9)
(14.9)
100.8
Contingencies related
to\u00a0contracts (1)
130.4
41.9
(0.5)
(101.5)
15.4
85.7
Litigation
3.8
0.8
(1.2)
\u2014
\u2014
3.4
Restructuring obligations
5.2
3.5
(6.5)
\u2014
1.9
4.1
Provisions for claims
0.7
2.6
(0.1)
(0.1)
0.2
3.3
Other current provisions
8.6
2.2
(3.3)
(1.7)
6.8
12.6
Total current provisions
148.7
51.0
(11.6)
(103.3)
24.3
109.1
TOTAL PROVISIONS
228.8
90.3
(12.4)
(106.2)
9.4
209.9
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-557": { "value": "
December\u00a031, 2024
Analysis by category of financial instruments
(In millions of \u20ac)
Carrying
amount
At fair value
through profit
or loss
At amortized
cost
At fair value
through OCI
Level
Other non-current financial assets (excl.
derivatives)
175.8
12.0
50.7
113.1
Level 1
Derivative financial instruments (non-current
and current)
19.8
8.2
\u2014
11.6
Level 2
Trade receivables
1,096.8
\u2014
1,096.8
\u2014
N/A
Cash and cash equivalents
3,846.7
3,846.7
\u2014
\u2014
N/A
TOTAL FINANCIAL ASSETS
5,139.1
3,866.9
1,147.5
124.7
Long-term debt, less current portion
637.6
\u2014
637.6
\u2014
N/A
Derivative financial instruments (non-current
and current)
59.5
0.6
\u2014
58.9
Level 2
Short-term debt
93.8
\u2014
93.8
\u2014
N/A
Accounts payable, trade
1,517.2
\u2014
1,517.2
\u2014
N/A
Other current liabilities (excl. derivatives)
0.5
0.5
\u2014
\u2014
Level 3
TOTAL FINANCIAL LIABILITIES
2,308.6
1.1
2,248.6
58.9
During the financial years 2025 and 2024 , there were no
transfers between Level 1 and Level 2 fair value measurements,
and no transfers into or out o f Level 3 fair value measurements.
Investments \u2014 The fair value measurement of quoted equity
instruments is based on quoted prices that the Technip\u00a0Energies
Group has the ability to access in public markets.
Mandatorily redeemable financial liability \u2014 Management
determined the fair value of the mandatorily redeemable
financial liability using a discounted cash flow model. The key
assumptions used in applying the income approach are the
selected discount rates and the expected dividends to be
distributed in the future to the non-controlling interest holders.
Expected dividends to be distributed are based on the non-
controlling interests\u2019 share of the expected profitability of the
underlying contract, the selected discount rate, and the overall
timing of completion of the project. The fair value measurement
is based upon significant inputs not observable in the market
and is consequently classified as a Level 3 fair value
measurement.
Changes in the fair value of Level 3 mandatorily redeemable
financial liability (Note 20. Other liabilities (non-current and
current)) are presented in the below table. Over the periods
presented, the Technip\u00a0Energies Group consolidated the total
results of the Yamal entities and recorded a mandatorily
redeemable financial liability representing the Group\u2019s dividend
obligation.
(In millions of \u20ac)
December\u00a031,
2025
December\u00a031,
2024
Balance at beginning of the period
0.5
16.0
Add: Expenses recognized in statement of income
\u2014
0.1
Less: Settlements
(0.4)
(16.0)
Net foreign exchange differences
\u2014
0.4
BALANCE AT END OF THE PERIOD
0.1
0.5
Fair value of debt \u2014 The fair values (based on Level 2 inputs) of the Technip\u00a0Energies Group debt, carried at amortized cost,
are presented in Note 22. Debt (long and short-term debt) .
", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-558": { "value": "
Note 27.Related party transactions
Receivables, payables, revenues, and expenses that are included in the condensed consolidated financial statements as
transactions with related parties, defined as Technip Energies\u2019 key management personnel (including Board members and
Executive Committee members) as well as persons and entities related to key management personnel, Technip Energies\u2019 main
shareholders, joint ventures, and associates and post-employment benefit plans were as follows:
27.1.Transactions with related parties
Trade receivables consisted of receivables due from the following related parties:
(In millions of \u20ac)
December\u00a031, 2025
December\u00a031, 2024
JGC Coral Norte
47.3
45.8
CTEP France
21.0
31.6
TTSJV W.L.L.
20.8
15.3
TPIT & DAR Engineering Consulting
17.5
19.3
Others
20.3
14.4
TOTAL TRADE RECEIVABLES
126.9
126.5
Trade payables consisted of payables due to the following related parties:
(In millions of \u20ac)
December\u00a031, 2025
December\u00a031, 2024
CTEP France
38.7
38.3
CTEP Japan
21.3
60.7
TPIT & DAR Engineering Consulting
14.8
21.8
TTSJV W.L.L.
2.9
3.2
Others
3.2
7.7
TOTAL TRADE PAYABLES
80.9
131.7
Transactions with related parties also included loans to equity affiliates for an amount of \u20ac49.4\u00a0million as of December\u00a031,
2025, and \u20ac13.8\u00a0million as of December\u00a031, 2024 .
CTEP France and CTEP Japan are joint\u00a0ventures established to carry out our performance obligation under the NFE project and
are accounted for using the equity method.
Revenue consisted of amounts with the following related parties:
(In millions of \u20ac)
December\u00a031, 2025
December\u00a031, 2024
JGC Coral Norte
99.9
92.6
CTEP France
50.1
83.5
JGC Coral France
16.9
28.3
JGC Coral Mozambique
12.3
13.0
TPIT & DAR Engineering Consulting
10.3
14.1
TTSJV W.L.L.
9.9
16.1
CTEP Japan
4.8
10.0
Others
31.2
14.0
TOTAL REVENUES
235.4
271.7
Expenses consisted of amounts with the following related parties:
(In millions of \u20ac)
December\u00a031, 2025
December\u00a031, 2024
CTEP Japan
(173.2)
(358.6)
CTEP France
(90.3)
(192.2)
TPIT & DAR Engineering Consulting
(11.6)
(24.9)
Others
(0.9)
(15.9)
TOTAL EXPENSES
(276.0)
(591.6)
Transactions with other related parties
As of December\u00a031, 2025, the Group has contributed \u20ac40.0\u00a0million to fund a portion of its post-employment benefit plans on
French entities.
27.2.Key management personnel remuneration
Technip\u00a0Energies Executive Committee remuneration was as follows for December\u00a031, 2025, and 2024 , respectively:
(In\u00a0millions of \u20ac)
December\u00a031, 2025
December\u00a031, 2024
Salaries and Fringe benefits
7.2
6.7
Annual incentives
5.4
4.1
Long-term incentive awards (1)
9.7
7.7
Pension related benefits
0.4
0.5
TOTAL
22.7
18.9
(1)Includes employer social contributions (30% in 2025; 20% in 2024) on long-term incentive plans vested in the period, measured using the share price
at the vesting date.
The Board of Directors remuneration was \u20ac1.2\u00a0million as of December\u00a031, 2025, compared to \u20ac1.1\u00a0million as of December\u00a031,
2024.
", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-559": { "value": "Key management personnel remuneration
Technip\u00a0Energies Executive Committee remuneration was as follows for December\u00a031, 2025, and 2024 , respectively:
(In\u00a0millions of \u20ac)
December\u00a031, 2025
December\u00a031, 2024
Salaries and Fringe benefits
7.2
6.7
Annual incentives
5.4
4.1
Long-term incentive awards (1)
9.7
7.7
Pension related benefits
0.4
0.5
TOTAL
22.7
18.9
(1)Includes employer social contributions (30% in 2025; 20% in 2024) on long-term incentive plans vested in the period, measured using the share price
at the vesting date.
The Board of Directors remuneration was \u20ac1.2\u00a0million as of December\u00a031, 2025, compared to \u20ac1.1\u00a0million as of December\u00a031,
2024.
", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-560": { "value": "
Note 28.Market-related exposure
28.1.Liquidity risk
The primary objectives of liquidity management consist of
meeting the continuing funding requirements of
Technip\u00a0Energies\u2019 global operations with cash generated by
such operations and Technip\u00a0Energies\u2019 existing commercial
paper program.
Cash pooling and external financing are largely centralized at
T.EN Eurocash SNC. Funds are provided to Technip\u00a0Energies
companies based on an \u201cin-house banking\u201d solution.
The financing requirements of Technip\u00a0Energies companies
are determined based on short and medium-term liquidity
planning. The financing is controlled and implemented
centrally on a forward-looking basis in accordance with the
planned liquidity requirements or surplus. Relevant planning
factors taken into consideration include operating cash flow,
capital expenditures, divestments, margin calls for
derivatives, and the maturities of financial liabilities.
Commercial paper program and credit facility
Under the commercial paper program, Technip\u00a0Energies,
through its treasury center T.EN Eurocash SNC, has the
ability to access up to \u20ac750.0\u00a0million of financing through its
commercial paper dealers. Technip\u00a0Energies had respectively
\u20ac298.6\u00a0million and \u20ac79.9\u00a0million of commercial papers issued
under the facility as of December\u00a031, 2025, and 2024 . Refer
to Note 22. Debt (long and short-term debt) for more details.
The following is a summary of the credit facility as of
December\u00a031, 2025 :
(In millions of \u20ac)
Amount
Debt outstanding
Unused capacity
Revolving credit facility
750.0
\u2014
750.0
As of December\u00a031, 2025, all restrictive covenants were compliant under the Revolving Facility agreement.
Undiscounted financial liabilities
The contractual undiscounted repayment schedule of financial liabilities as of December\u00a031, 2025, was as follows:
(In millions of \u20ac)
2026
2027
2028
2029
2030
2031 and
beyond
Total
Financial debts
309.5
0.2
598.0
\u2014
\u2014
80.1
987.8
Accounts payable, trade
1,402.4
\u2014
\u2014
\u2014
\u2014
\u2014
1,402.4
Derivative financial instruments
9.3
7.0
0.8
\u2014
\u2014
\u2014
17.1
TOTAL FINANCIAL LIABILITIES
AS\u00a0OF DECEMBER\u00a031, 2025
1,721.3
7.2
598.8
\u2014
\u2014
80.1
2,407.4
The contractual undiscounted repayment schedule of financial liabilities as of December\u00a031, 2024, was as follows:
(In millions of \u20ac)
2025
2026
2027
2028
2029
2030 and
beyond
Total
Financial debts
93.8
0.2
0.2
597.2
\u2014
40.0
731.4
Accounts payable, trade
1,517.2
\u2014
\u2014
\u2014
\u2014
\u2014
1,517.2
Derivative financial instruments
36.1
17.1
4.8
1.3
0.1
\u2014
59.4
Redeemable financial liability
0.5
\u2014
\u2014
\u2014
\u2014
\u2014
0.5
TOTAL FINANCIAL LIABILITIES
AS\u00a0OF DECEMBER\u00a031, 2024
1,647.6
17.3
5.0
598.5
0.1
40.0
2,308.5
28.2.Foreign currency exchange rate risk
Technip\u00a0Energies conducts operations around the world in
several different currencies. Many of the Technip\u00a0Energies
Group\u2019s significant foreign subsidiaries have designated the
local currency as their functional currency. Earnings are
therefore subject to change due to fluctuations in foreign
currency exchange rates when the earnings in foreign
currencies are translated into euro. The Technip\u00a0Energies
Group does not hedge this translation impact on earnings. A
10% increase or decrease in the average exchange rates of all
foreign currencies as of December\u00a031, 2025, would have
changed the Technip\u00a0Energies Group\u2019s revenue and profit
(loss) before income taxes attributable to the
Technip\u00a0Energies Group by approximately \u20ac294.7\u00a0million and
\u20ac6.2\u00a0million, respectively. A 10% increase or decrease in the
average exchange rates of all foreign currencies as of
December\u00a031, 2024, would have changed the
Technip\u00a0Energies Group\u2019s revenue and profit (loss) before
income taxes attributable to the Technip\u00a0Energies Group by
approximately \u20ac294.1\u00a0million and \u20ac2.5\u00a0million, respectively.
When transactions are denominated in currencies other than
the respective functional currencies of the applicable
subsidiaries of the Technip\u00a0Energies Group, the Group
manages these exposures through derivative instruments.
The Group primarily uses foreign currency forward contracts
to hedge the foreign currency fluctuations associated with
firmly committed and forecasted foreign currency
denominated payments and receipts. The derivative
instruments associated with these anticipated transactions
are usually designated and qualify as cash flow hedges, and
as such the gains and losses associated with these
instruments are recorded in other comprehensive income
until such time that the underlying transactions are
recognized. Unless these cash flow contracts are deemed to
be ineffective or are not designated as cash flow hedges at
inception, changes in the derivative fair value will not have an
immediate impact on the results of operations since the
gains and losses associated with these instruments are
recorded in other comprehensive income. When the
anticipated transactions occur, these changes in value of
derivative instrument positions will be offset against changes
in the value of the underlying transaction. When an
anticipated transaction in a currency other than the
functional currency of an entity is recognized as an asset or
liability on the statement of financial position, we also hedge
the foreign currency fluctuation of these assets and liabilities
with derivative instruments after netting the
Technip\u00a0Energies Group\u2019s exposures worldwide. These
derivative instruments do not qualify as cash flow hedges.
Occasionally, the Technip\u00a0Energies Group enters into
contracts or other arrangements containing terms and
conditions that qualify as embedded derivative instruments
and are subject to fluctuations in foreign exchange rates. In
those situations, the Technip\u00a0Energies Group enters
derivative foreign exchange contracts that hedge the price or
cost fluctuations due to movements in the foreign exchange
rates. These derivative instruments are not designated as
cash flow hedges.
For foreign currency forward contracts hedging anticipated
transactions, a 10% increase in the value of the Euro on
December\u00a031, 2025, would have changed negatively the net
fair value reflected in the consolidated statement of financial
position by \u20ac80.2\u00a0million.
For certain committed and anticipated future cash flows and
recognized assets and liabilities that are denominated in a
foreign currency, the Technip\u00a0Energies Group may choose to
manage risk against changes in the exchange rates, when
compared against the functional currency, through the
economic netting of exposures instead of derivative
instruments. Cash outflows or liabilities in a foreign currency
are matched against cash inflows or assets in the same
currency such that movements in exchange rates will result
in offsetting gains or losses. Due to the inherent
unpredictability of the timing of cash flows, gains and losses
in the current period may be economically offset by gains
and losses in a future period. All gains and losses are
recorded in the consolidated statement of income in the
period in which they are incurred. Gains and losses from the
remeasurement of assets and liabilities are recognized in
other income (expense), net.
28.3.Interest rate risk
The Technip\u00a0Energies Group is generally financed using the
internal cash pooling system. Cash pooling balances earn and
bear interest under normal market terms and conditions
(rates of interest for specific maturities and currencies).
Individual members of the Technip\u00a0Energies Group that are
not included in the internal cash pool due to legal
restrictions arrange financing independently or with discrete
intercompany loans at arm\u2019s length terms and conditions or
deposit their excess liquidity with leading local banks.
The Technip\u00a0Energies Group assesses the effectiveness of
forward foreign currency contracts designated as cash flow
hedges based on changes in fair value attributable to
changes in spot rates. The Technip\u00a0Energies Group excludes
the impact attributable to changes in the difference between
the spot rate and the forward rate for the assessment of
hedge effectiveness and recognizes the change in fair value
of this component immediately in earnings. Considering that
the difference between the spot rate and the forward rate is
proportional to the differences in the interest rates of the
countries of the currencies being traded, the
Technip\u00a0Energies Group has exposure in the unrealized
valuation of its forward foreign currency contracts to relative
changes in interest rates between countries in its results of
operations.
Based on the Technip\u00a0Energies Group\u2019s portfolio as of
December\u00a031, 2025, the Technip\u00a0Energies Group has material
positions with exposure to interest rates in the United States
of America and the European Union.
The Technip\u00a0Energies Group\u2019s fixed-rate borrowings include commercial paper.
(In millions of \u20ac)
December\u00a031,
2025
December\u00a031,
2024
Bonds (note 22)
601.9
601.0
Commercial paper (note 22)
298.6
79.9
Bank borrowings and other (note 22)
87.3
50.5
TOTAL DEBT
987.8
731.4
Sensitivity analysis as of December\u00a031, 2025
As of December\u00a031, 2025, the net cash position of the
Technip\u00a0Energies Group (cash and cash equivalents, less
financial debts) amounted to \u20ac2,655.7\u00a0million. A 1% (100 basis
points) increase in interest rates would have generated an
additional profit of \u20ac26.6\u00a0million before tax in the net cash
position. A 1% (100\u00a0basis points) decrease in interest rates
would have generated a loss of the same amount.
Sensitivity analysis as of December\u00a031, 2024
As of December\u00a031, 2024, the net short-term cash position of
the Technip\u00a0Energies Group (cash and cash equivalents, less
short-term financial debt) amounted to \u20ac3,115.3\u00a0million. A\u00a01%
(100 basis points) increase in interest rates would have
generated an additional profit of \u20ac31.2\u00a0million before tax in
the net cash position. A 1% (100 basis points) decrease in
interest rates would have generated a loss of the same
amount.
28.4.Credit risk
Valuations of derivative assets and liabilities reflect the value
of the instruments, including the values associated with
counterparty risk. These values must also consider the
Technip\u00a0Energies Group\u2019s credit standing, thus including in
the valuation of the derivative instrument the value of the
net credit differential between the counterparties to the
derivative contract. The methodology includes the impact of
both counterparties and such entity\u2019s own credit standing.
Adjustments to derivative assets and liabilities related to
credit risk were not material for any period presented.
By their nature, financial instruments involve risk, including
credit risk, for non-performance by counterparties. Financial
instruments that potentially subject the Technip\u00a0Energies
Group to credit risk primarily consist of trade receivables,
contract assets, contractual cash flows from debt
instruments (primarily loans), cash equivalents, and deposits
with banks, as well as derivative contracts.
The Technip\u00a0Energies Group manages the credit risk on
financial instruments by transacting only with what
management believes are financially secure counterparties,
requiring credit approvals and credit limits, and monitoring
counterparties\u2019 financial condition. The maximum exposure
to credit loss in the event of non-performance by the
counterparty is limited to the amount drawn and outstanding
on the financial instrument.
The Group has applied the IFRS\u00a09 simplified approach to
measuring expected credit losses, which uses a lifetime
expected loss allowance for all trade receivables and
contract assets.
Credit risk exposure on trade receivables and contract assets using a provision matrix is set out as follows:
December\u00a031, 2025
Days past due
Total
trade
receivables
Contract
assets
(In millions of \u20ac)
Current
Less than
3 months
3 to
12 months
Over
1 year
Net carrying amount
1,086.0
159.5
75.1
78.8
1,399.4
381.2
Weighted average expected
credit loss rate
N/A
N/A
N/A
N/A
0.25%
0.25%
December\u00a031, 2024
Days past due
Total
trade
receivables
Contract
assets
(In millions of \u20ac)
Current
Less than 3
months
3 to 12 months
Over 1 year
Net carrying amount
820.7
131.0
64.0
81.1
1,096.8
481.3
Weighted average expected
credit loss rate
N/A
N/A
N/A
N/A
0.22%
0.22%
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-561": { "value": "Liquidity risk
The primary objectives of liquidity management consist of
meeting the continuing funding requirements of
Technip\u00a0Energies\u2019 global operations with cash generated by
such operations and Technip\u00a0Energies\u2019 existing commercial
paper program.
Cash pooling and external financing are largely centralized at
T.EN Eurocash SNC. Funds are provided to Technip\u00a0Energies
companies based on an \u201cin-house banking\u201d solution.
The financing requirements of Technip\u00a0Energies companies
are determined based on short and medium-term liquidity
planning. The financing is controlled and implemented
centrally on a forward-looking basis in accordance with the
planned liquidity requirements or surplus. Relevant planning
factors taken into consideration include operating cash flow,
capital expenditures, divestments, margin calls for
derivatives, and the maturities of financial liabilities.
Commercial paper program and credit facility
Under the commercial paper program, Technip\u00a0Energies,
through its treasury center T.EN Eurocash SNC, has the
ability to access up to \u20ac750.0\u00a0million of financing through its
commercial paper dealers. Technip\u00a0Energies had respectively
\u20ac298.6\u00a0million and \u20ac79.9\u00a0million of commercial papers issued
under the facility as of December\u00a031, 2025, and 2024 . Refer
to Note 22. Debt (long and short-term debt) for more details.
The following is a summary of the credit facility as of
December\u00a031, 2025 :
(In millions of \u20ac)
Amount
Debt outstanding
Unused capacity
Revolving credit facility
750.0
\u2014
750.0
As of December\u00a031, 2025, all restrictive covenants were compliant under the Revolving Facility agreement.
Undiscounted financial liabilities
The contractual undiscounted repayment schedule of financial liabilities as of December\u00a031, 2025, was as follows:
(In millions of \u20ac)
2026
2027
2028
2029
2030
2031 and
beyond
Total
Financial debts
309.5
0.2
598.0
\u2014
\u2014
80.1
987.8
Accounts payable, trade
1,402.4
\u2014
\u2014
\u2014
\u2014
\u2014
1,402.4
Derivative financial instruments
9.3
7.0
0.8
\u2014
\u2014
\u2014
17.1
TOTAL FINANCIAL LIABILITIES
AS\u00a0OF DECEMBER\u00a031, 2025
1,721.3
7.2
598.8
\u2014
\u2014
80.1
2,407.4
The contractual undiscounted repayment schedule of financial liabilities as of December\u00a031, 2024, was as follows:
(In millions of \u20ac)
2025
2026
2027
2028
2029
2030 and
beyond
Total
Financial debts
93.8
0.2
0.2
597.2
\u2014
40.0
731.4
Accounts payable, trade
1,517.2
\u2014
\u2014
\u2014
\u2014
\u2014
1,517.2
Derivative financial instruments
36.1
17.1
4.8
1.3
0.1
\u2014
59.4
Redeemable financial liability
0.5
\u2014
\u2014
\u2014
\u2014
\u2014
0.5
TOTAL FINANCIAL LIABILITIES
AS\u00a0OF DECEMBER\u00a031, 2024
1,647.6
17.3
5.0
598.5
0.1
40.0
2,308.5
", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-562": { "value": "Foreign currency exchange rate risk
Technip\u00a0Energies conducts operations around the world in
several different currencies. Many of the Technip\u00a0Energies
Group\u2019s significant foreign subsidiaries have designated the
local currency as their functional currency. Earnings are
therefore subject to change due to fluctuations in foreign
currency exchange rates when the earnings in foreign
currencies are translated into euro. The Technip\u00a0Energies
Group does not hedge this translation impact on earnings. A
10% increase or decrease in the average exchange rates of all
foreign currencies as of December\u00a031, 2025, would have
changed the Technip\u00a0Energies Group\u2019s revenue and profit
(loss) before income taxes attributable to the
Technip\u00a0Energies Group by approximately \u20ac294.7\u00a0million and
\u20ac6.2\u00a0million, respectively. A 10% increase or decrease in the
average exchange rates of all foreign currencies as of
December\u00a031, 2024, would have changed the
Technip\u00a0Energies Group\u2019s revenue and profit (loss) before
income taxes attributable to the Technip\u00a0Energies Group by
approximately \u20ac294.1\u00a0million and \u20ac2.5\u00a0million, respectively.
When transactions are denominated in currencies other than
the respective functional currencies of the applicable
subsidiaries of the Technip\u00a0Energies Group, the Group
manages these exposures through derivative instruments.
The Group primarily uses foreign currency forward contracts
to hedge the foreign currency fluctuations associated with
firmly committed and forecasted foreign currency
denominated payments and receipts. The derivative
instruments associated with these anticipated transactions
are usually designated and qualify as cash flow hedges, and
as such the gains and losses associated with these
instruments are recorded in other comprehensive income
until such time that the underlying transactions are
recognized. Unless these cash flow contracts are deemed to
be ineffective or are not designated as cash flow hedges at
inception, changes in the derivative fair value will not have an
immediate impact on the results of operations since the
gains and losses associated with these instruments are
recorded in other comprehensive income. When the
anticipated transactions occur, these changes in value of
derivative instrument positions will be offset against changes
in the value of the underlying transaction. When an
anticipated transaction in a currency other than the
functional currency of an entity is recognized as an asset or
liability on the statement of financial position, we also hedge
the foreign currency fluctuation of these assets and liabilities
with derivative instruments after netting the
Technip\u00a0Energies Group\u2019s exposures worldwide. These
derivative instruments do not qualify as cash flow hedges.
Occasionally, the Technip\u00a0Energies Group enters into
contracts or other arrangements containing terms and
conditions that qualify as embedded derivative instruments
and are subject to fluctuations in foreign exchange rates. In
those situations, the Technip\u00a0Energies Group enters
derivative foreign exchange contracts that hedge the price or
cost fluctuations due to movements in the foreign exchange
rates. These derivative instruments are not designated as
cash flow hedges.
For foreign currency forward contracts hedging anticipated
transactions, a 10% increase in the value of the Euro on
December\u00a031, 2025, would have changed negatively the net
fair value reflected in the consolidated statement of financial
position by \u20ac80.2\u00a0million.
For certain committed and anticipated future cash flows and
recognized assets and liabilities that are denominated in a
foreign currency, the Technip\u00a0Energies Group may choose to
manage risk against changes in the exchange rates, when
compared against the functional currency, through the
economic netting of exposures instead of derivative
instruments. Cash outflows or liabilities in a foreign currency
are matched against cash inflows or assets in the same
currency such that movements in exchange rates will result
in offsetting gains or losses. Due to the inherent
unpredictability of the timing of cash flows, gains and losses
in the current period may be economically offset by gains
and losses in a future period. All gains and losses are
recorded in the consolidated statement of income in the
period in which they are incurred. Gains and losses from the
remeasurement of assets and liabilities are recognized in
other income (expense), net.
28.3.Interest rate risk
The Technip\u00a0Energies Group is generally financed using the
internal cash pooling system. Cash pooling balances earn and
bear interest under normal market terms and conditions
(rates of interest for specific maturities and currencies).
Individual members of the Technip\u00a0Energies Group that are
not included in the internal cash pool due to legal
restrictions arrange financing independently or with discrete
intercompany loans at arm\u2019s length terms and conditions or
deposit their excess liquidity with leading local banks.
The Technip\u00a0Energies Group assesses the effectiveness of
forward foreign currency contracts designated as cash flow
hedges based on changes in fair value attributable to
changes in spot rates. The Technip\u00a0Energies Group excludes
the impact attributable to changes in the difference between
the spot rate and the forward rate for the assessment of
hedge effectiveness and recognizes the change in fair value
of this component immediately in earnings. Considering that
the difference between the spot rate and the forward rate is
proportional to the differences in the interest rates of the
countries of the currencies being traded, the
Technip\u00a0Energies Group has exposure in the unrealized
valuation of its forward foreign currency contracts to relative
changes in interest rates between countries in its results of
operations.
Based on the Technip\u00a0Energies Group\u2019s portfolio as of
December\u00a031, 2025, the Technip\u00a0Energies Group has material
positions with exposure to interest rates in the United States
of America and the European Union.
The Technip\u00a0Energies Group\u2019s fixed-rate borrowings include commercial paper.
(In millions of \u20ac)
December\u00a031,
2025
December\u00a031,
2024
Bonds (note 22)
601.9
601.0
Commercial paper (note 22)
298.6
79.9
Bank borrowings and other (note 22)
87.3
50.5
TOTAL DEBT
987.8
731.4
Sensitivity analysis as of December\u00a031, 2025
As of December\u00a031, 2025, the net cash position of the
Technip\u00a0Energies Group (cash and cash equivalents, less
financial debts) amounted to \u20ac2,655.7\u00a0million. A 1% (100 basis
points) increase in interest rates would have generated an
additional profit of \u20ac26.6\u00a0million before tax in the net cash
position. A 1% (100\u00a0basis points) decrease in interest rates
would have generated a loss of the same amount.
Sensitivity analysis as of December\u00a031, 2024
As of December\u00a031, 2024, the net short-term cash position of
the Technip\u00a0Energies Group (cash and cash equivalents, less
short-term financial debt) amounted to \u20ac3,115.3\u00a0million. A\u00a01%
(100 basis points) increase in interest rates would have
generated an additional profit of \u20ac31.2\u00a0million before tax in
the net cash position. A 1% (100 basis points) decrease in
interest rates would have generated a loss of the same
amount.
28.4.Credit risk
Valuations of derivative assets and liabilities reflect the value
of the instruments, including the values associated with
counterparty risk. These values must also consider the
Technip\u00a0Energies Group\u2019s credit standing, thus including in
the valuation of the derivative instrument the value of the
net credit differential between the counterparties to the
derivative contract. The methodology includes the impact of
both counterparties and such entity\u2019s own credit standing.
Adjustments to derivative assets and liabilities related to
credit risk were not material for any period presented.
By their nature, financial instruments involve risk, including
credit risk, for non-performance by counterparties. Financial
instruments that potentially subject the Technip\u00a0Energies
Group to credit risk primarily consist of trade receivables,
contract assets, contractual cash flows from debt
instruments (primarily loans), cash equivalents, and deposits
with banks, as well as derivative contracts.
The Technip\u00a0Energies Group manages the credit risk on
financial instruments by transacting only with what
management believes are financially secure counterparties,
requiring credit approvals and credit limits, and monitoring
counterparties\u2019 financial condition. The maximum exposure
to credit loss in the event of non-performance by the
counterparty is limited to the amount drawn and outstanding
on the financial instrument.
The Group has applied the IFRS\u00a09 simplified approach to
measuring expected credit losses, which uses a lifetime
expected loss allowance for all trade receivables and
contract assets.
Credit risk exposure on trade receivables and contract assets using a provision matrix is set out as follows:
December\u00a031, 2025
Days past due
Total
trade
receivables
Contract
assets
(In millions of \u20ac)
Current
Less than
3 months
3 to
12 months
Over
1 year
Net carrying amount
1,086.0
159.5
75.1
78.8
1,399.4
381.2
Weighted average expected
credit loss rate
N/A
N/A
N/A
N/A
0.25%
0.25%
December\u00a031, 2024
Days past due
Total
trade
receivables
Contract
assets
(In millions of \u20ac)
Current
Less than 3
months
3 to 12 months
Over 1 year
Net carrying amount
820.7
131.0
64.0
81.1
1,096.8
481.3
Weighted average expected
credit loss rate
N/A
N/A
N/A
N/A
0.22%
0.22%
", "dimensions": { "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-563": { "value": "Credit risk
Valuations of derivative assets and liabilities reflect the value
of the instruments, including the values associated with
counterparty risk. These values must also consider the
Technip\u00a0Energies Group\u2019s credit standing, thus including in
the valuation of the derivative instrument the value of the
net credit differential between the counterparties to the
derivative contract. The methodology includes the impact of
both counterparties and such entity\u2019s own credit standing.
Adjustments to derivative assets and liabilities related to
credit risk were not material for any period presented.
By their nature, financial instruments involve risk, including
credit risk, for non-performance by counterparties. Financial
instruments that potentially subject the Technip\u00a0Energies
Group to credit risk primarily consist of trade receivables,
contract assets, contractual cash flows from debt
instruments (primarily loans), cash equivalents, and deposits
with banks, as well as derivative contracts.
The Technip\u00a0Energies Group manages the credit risk on
financial instruments by transacting only with what
management believes are financially secure counterparties,
requiring credit approvals and credit limits, and monitoring
counterparties\u2019 financial condition. The maximum exposure
to credit loss in the event of non-performance by the
counterparty is limited to the amount drawn and outstanding
on the financial instrument.
The Group has applied the IFRS\u00a09 simplified approach to
measuring expected credit losses, which uses a lifetime
expected loss allowance for all trade receivables and
contract assets.
Credit risk exposure on trade receivables and contract assets using a provision matrix is set out as follows:
December\u00a031, 2025
Days past due
Total
trade
receivables
Contract
assets
(In millions of \u20ac)
Current
Less than
3 months
3 to
12 months
Over
1 year
Net carrying amount
1,086.0
159.5
75.1
78.8
1,399.4
381.2
Weighted average expected
credit loss rate
N/A
N/A
N/A
N/A
0.25%
0.25%
December\u00a031, 2024
Days past due
Total
trade
receivables
Contract
assets
(In millions of \u20ac)
Current
Less than 3
months
3 to 12 months
Over 1 year
Net carrying amount
820.7
131.0
64.0
81.1
1,096.8
481.3
Weighted average expected
credit loss rate
N/A
N/A
N/A
N/A
0.22%
0.22%
", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-565": { "value": "
Note 29. Commitments and contingent liabilities
29.1.Contingent liabilities associated with guarantees
In the ordinary course of business, the Technip\u00a0Energies
Group enters into standby letters of credit, performance
bonds, surety bonds, and other guarantees with financial
institutions for the benefit of its customers, vendors, and
other parties.
Most of these financial instruments expire within five years.
Management does not expect any of these financial
instruments to result in losses that, if incurred, would have a
material adverse effect on the Technip\u00a0Energies Group\u2019s
consolidated financial position, results of operations, or cash
flows.
Guarantees consisted of the following:
(In millions of \u20ac)
December\u00a031,
2025
December\u00a031,
2024
Financial guarantees(1)
198.1
211.7
Performance guarantees (2)
2,833.7
2,868.5
MAXIMUM POTENTIAL UNDISCOUNTED PAYMENTS
3,031.8
3,080.2
(1)Financial guarantees represent contracts that contingently require a guarantor to make payments to a guaranteed party based on changes in an
underlying agreement that is related to an asset, a liability, or an equity security of the guaranteed party as primary obligor. These would be drawn
down only if there is a failure to fulfill financial obligations by the primary obligor.
(2)Performance guarantees represent contracts that contingently require a guarantor to make payments to a guaranteed party based on another entity\u2019s
failure to perform under a non-financial agreement. Events that trigger payment are performance-related, such as failure to ship a product or provide
a service.
29.2.Contingent liabilities associated with legal matters
The Group is involved in various pending or potential legal
actions, disputes and proceedings, whether initiated by the
Company or by third parties, any of which could result in
sanctions of a financial, administrative, or criminal nature.
Management is unable to predict the ultimate outcome of
these actions because of their inherent uncertainty. However,
management believes that the most probable, ultimate
resolution of these matters will not have a material adverse
effect on the Technip\u00a0Energies Group\u2019s financial position or
profitability.
Contingent liabilities associated with liquidated
damages
Some of the Technip\u00a0Energies Group\u2019s contracts contain
provisions that require the relevant Technip\u00a0Energies Group
company to pay liquidated damages if the relevant company
is responsible for the failure to meet specified contractual
milestone dates and the applicable customer asserts a
conforming claim under these provisions. These contracts
define the conditions under which the customers of
Technip\u00a0Energies may claim for liquidated damages. Based
upon the evaluation of Technip\u00a0Energies Group\u2019s
performance and other commercial and legal analysis,
management believes that the Group has appropriately
recognized probable liquidated damages as of December\u00a031,
2025, and 2024, and that the ultimate resolution of such
matters will not materially affect its consolidated financial
position, consolidated results of operations, or consolidated
cash flows.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-564": { "value": "
Note 29. Commitments and contingent liabilities
29.1.Contingent liabilities associated with guarantees
In the ordinary course of business, the Technip\u00a0Energies
Group enters into standby letters of credit, performance
bonds, surety bonds, and other guarantees with financial
institutions for the benefit of its customers, vendors, and
other parties.
Most of these financial instruments expire within five years.
Management does not expect any of these financial
instruments to result in losses that, if incurred, would have a
material adverse effect on the Technip\u00a0Energies Group\u2019s
consolidated financial position, results of operations, or cash
flows.
Guarantees consisted of the following:
(In millions of \u20ac)
December\u00a031,
2025
December\u00a031,
2024
Financial guarantees(1)
198.1
211.7
Performance guarantees (2)
2,833.7
2,868.5
MAXIMUM POTENTIAL UNDISCOUNTED PAYMENTS
3,031.8
3,080.2
(1)Financial guarantees represent contracts that contingently require a guarantor to make payments to a guaranteed party based on changes in an
underlying agreement that is related to an asset, a liability, or an equity security of the guaranteed party as primary obligor. These would be drawn
down only if there is a failure to fulfill financial obligations by the primary obligor.
(2)Performance guarantees represent contracts that contingently require a guarantor to make payments to a guaranteed party based on another entity\u2019s
failure to perform under a non-financial agreement. Events that trigger payment are performance-related, such as failure to ship a product or provide
a service.
29.2.Contingent liabilities associated with legal matters
The Group is involved in various pending or potential legal
actions, disputes and proceedings, whether initiated by the
Company or by third parties, any of which could result in
sanctions of a financial, administrative, or criminal nature.
Management is unable to predict the ultimate outcome of
these actions because of their inherent uncertainty. However,
management believes that the most probable, ultimate
resolution of these matters will not have a material adverse
effect on the Technip\u00a0Energies Group\u2019s financial position or
profitability.
Contingent liabilities associated with liquidated
damages
Some of the Technip\u00a0Energies Group\u2019s contracts contain
provisions that require the relevant Technip\u00a0Energies Group
company to pay liquidated damages if the relevant company
is responsible for the failure to meet specified contractual
milestone dates and the applicable customer asserts a
conforming claim under these provisions. These contracts
define the conditions under which the customers of
Technip\u00a0Energies may claim for liquidated damages. Based
upon the evaluation of Technip\u00a0Energies Group\u2019s
performance and other commercial and legal analysis,
management believes that the Group has appropriately
recognized probable liquidated damages as of December\u00a031,
2025, and 2024, and that the ultimate resolution of such
matters will not materially affect its consolidated financial
position, consolidated results of operations, or consolidated
cash flows.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-566": { "value": "Contingent liabilities associated with guarantees
In the ordinary course of business, the Technip\u00a0Energies
Group enters into standby letters of credit, performance
bonds, surety bonds, and other guarantees with financial
institutions for the benefit of its customers, vendors, and
other parties.
Most of these financial instruments expire within five years.
Management does not expect any of these financial
instruments to result in losses that, if incurred, would have a
material adverse effect on the Technip\u00a0Energies Group\u2019s
consolidated financial position, results of operations, or cash
flows.
Guarantees consisted of the following:
(In millions of \u20ac)
December\u00a031,
2025
December\u00a031,
2024
Financial guarantees(1)
198.1
211.7
Performance guarantees (2)
2,833.7
2,868.5
MAXIMUM POTENTIAL UNDISCOUNTED PAYMENTS
3,031.8
3,080.2
(1)Financial guarantees represent contracts that contingently require a guarantor to make payments to a guaranteed party based on changes in an
underlying agreement that is related to an asset, a liability, or an equity security of the guaranteed party as primary obligor. These would be drawn
down only if there is a failure to fulfill financial obligations by the primary obligor.
(2)Performance guarantees represent contracts that contingently require a guarantor to make payments to a guaranteed party based on another entity\u2019s
failure to perform under a non-financial agreement. Events that trigger payment are performance-related, such as failure to ship a product or provide
a service.
29.2.Contingent liabilities associated with legal matters
The Group is involved in various pending or potential legal
actions, disputes and proceedings, whether initiated by the
Company or by third parties, any of which could result in
sanctions of a financial, administrative, or criminal nature.
Management is unable to predict the ultimate outcome of
these actions because of their inherent uncertainty. However,
management believes that the most probable, ultimate
resolution of these matters will not have a material adverse
effect on the Technip\u00a0Energies Group\u2019s financial position or
profitability.
Contingent liabilities associated with liquidated
damages
Some of the Technip\u00a0Energies Group\u2019s contracts contain
provisions that require the relevant Technip\u00a0Energies Group
company to pay liquidated damages if the relevant company
is responsible for the failure to meet specified contractual
milestone dates and the applicable customer asserts a
conforming claim under these provisions. These contracts
define the conditions under which the customers of
Technip\u00a0Energies may claim for liquidated damages. Based
upon the evaluation of Technip\u00a0Energies Group\u2019s
performance and other commercial and legal analysis,
management believes that the Group has appropriately
recognized probable liquidated damages as of December\u00a031,
2025, and 2024, and that the ultimate resolution of such
matters will not materially affect its consolidated financial
position, consolidated results of operations, or consolidated
cash flows.
", "dimensions": { "concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-567": { "value": "
Note 30.Auditor\u2019s remuneration
Auditor \u2019s remuneration as of December\u00a031, 2025 , and 2024 is as follows:
(In millions of \u20ac)
December\u00a031,
2025
December\u00a031,
2024
Fees payable to Technip Energies\u2019 auditors for the audit of the consolidated and
company financial statements
(1.6)
(1.7)
Fees payable to Technip Energies\u2019 auditors for the audit of\u00a0its\u00a0subsidiaries
(3.6)
(3.7)
TOTAL FEES PAYABLE FOR AUDIT SERVICES
(5.2)
(5.4)
Audit related
\u2014
\u2014
Tax fees
(0.1)
(0.1)
All other fees
(0.7)
(0.8)
TOTAL FEES PAYABLE FOR OTHER SERVICES
(0.8)
(0.9)
Of the total fees billed, an amount of \u20ac 0.5\u00a0million relates to PricewaterhouseCoopers Accountants NV for audit services and
sustainability assurance services. The remainder relates to other firms within the PwC network. Other services are mainly
comprised of sustainability assurance services.", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-568": { "value": "
Note 31.Companies included in the scope of the consolidated
financial statements
The principal subsidiaries, associates and joint ventures included in Technip\u00a0Energies\u2019 scope of consolidation as of
December\u00a031, 2025, are listed below:
31.1.Principal subsidiaries
Company Name
Address
Interest held in %
as of December\u00a031,
2025
AUSTRALIA
T.EN Australia and New Zealand Pty Ltd
Level 7, 1 William Street, Perth WA 6000
100
BRAZIL
Ecovyst Catalyst Technologies Brazil
Ltda.
Rio Claro, State of S\u00e3o Paulo, at Rua P 6, n\" 1.223, room 1, Vila
Paulista, CEP 13506-870, Brazil
100
BELGIUM
Rely SA
Avenue du Boulevard 21, 1210 Brussels
60
CHINA
Shanghai T.EN Trading Co. Ltd.
Room 1904, 19th Floor, Xuhui Vanke Center 55\u00a0Ding\u2019An\u00a0Road
200030,\u00a0Shanghai
100
T.EN Chemical Engineering (Tianjin) Co.
Ltd.
521 Jing Jin Road, Beichen District, 300400, Tianjin
100
T.EN Engineering Consultant (Shanghai)
Co. Ltd.
Room 1902, 19th Floor, Xuhui Vanke Center 55 Ding\u2019An Road
200030, Shanghai
100
FRANCE
Clecel SAS
2126 boulevard de La D\u00e9fense Immeuble Origine CS 10266
92741 Nanterre Cedex
100
T.EN Marseille
Technop\u00f4le de Ch\u00e2teau Gombert 306 Rue Albert Einstein BP
94 13382 Marseille Cedex 13
100
Gygaz SNC
2126 boulevard de La D\u00e9fense Immeuble Origine CS 10266
92741 Nanterre Cedex
92.5
Middle East Projects International (T.EN
MEPI) SAS
2126 boulevard de La D\u00e9fense Immeuble Origine CS 10266
92741 Nanterre Cedex
100
Processium SA
30 rue Marguerite Immeuble \u201cle 380\u201d 69100 Villeurbanne
99.84
Reju SAS
2126 boulevard de La D\u00e9fense Immeuble Origine CS 10266
92741 Nanterre Cedex
100
Safrel SAS
2126 boulevard de La D\u00e9fense Immeuble Origine CS 10266
92741 Nanterre Cedex
100
South Tambey LNG SNC(1)
5 place de la Pyramide, Tour Ariane Paris La D\u00e9fense 92800
Puteaux
50
T.EN Corporate Services SAS
2126 boulevard de La D\u00e9fense Immeuble Origine CS 10266
92741 Nanterre Cedex
100
T.EN Eurocash SNC
2126 boulevard de La D\u00e9fense Immeuble Origine CS 10266
92741 Nanterre Cedex
100
Technip Energies France SAS
2126 boulevard de La D\u00e9fense Immeuble Origine CS 10266
92741 Nanterre Cedex
100
T.EN Engineering SAS
2126 boulevard de La D\u00e9fense Immeuble Origine CS 10266
92741 Nanterre Cedex
100
T.EN Net SAS
2126 boulevard de La D\u00e9fense Immeuble Origine CS 10266
92741 Nanterre Cedex
100
T.EN Ing\u00e9nierie R\u00e9gionale pour
Industries SAS
4 rue Pierre Gilles de Gennes 76130 Mont-Saint-Aignan
100
Yamgaz SNC(1)
2126 boulevard de La D\u00e9fense Immeuble Origine CS 10266
92741 Nanterre Cedex
50
T.EN Loading Systems SAS
Route des Cl\u00e9rimois 89100 Sens
100
Company Name
Address
Interest held in %
as of December\u00a031,
2025
GERMANY
Taclov GmbH
Friesstrasse 20 60388 Frankfurt am Main
100
T.EN Zimmer GmbH
Friesstrasse 20 60388 Frankfurt am Main
100
INDIA
RELY GH2 PTX SERVICES INDIA PRIVATE
LIMITED
B-22 Okhla Industrial Area, Phase-1 110020 New Delhi
60.4
T.EN Global Business Services Private
Limited
B-22 Okhla Industrial Area, Phase-1 110020 New Delhi
100
Technip Energies India Limited
B-22 Okhla Industrial Area, Phase-1 110020 New Delhi
100
ITALY
T.EN Italy Solutions S.p.A.
68, Viale Castello della Magliana 00148 Roma
100
Technip Energies Italy S.p.A.
68, Viale Castello della Magliana 00148 Roma
100
INDONESIA
PT Ecovyst Catalyst Technologies
Indonesia
JL Rembang industri raya no.24, pandean, rembang,
kabupaten pasuruan
99.97
JAPAN
Technip Energies Japan GK
Level 10, Hulic Minatomirai 1-1-7, Sakuragi-cho, Naka-ku
Yokohama-shi, Kanagawa
100
MALAYSIA
Genesis Energies Malaysia Sdn. Bhd.
Suite 13.03, 13th Floor, Menara Tan & Tan 207 Jalan Tun Razak
50400 Kuala Lumpur
100
T.EN Far East Sdn. Bhd.
Suite 13.03, 13th Floor, Menara Tan & Tan 207 Jalan Tun Razak
50400 Kuala Lumpur
100
Technip Energies (M) Sdn. Bhd.
Suite 13.03, 13th Floor, Menara Tan & Tan 207 Jalan Tun
Razak 50400 Kuala Lumpur
100
MEXICO
Technip De Mexico S. De R.L. De C.V.
Blvd. Manuel \u00c1vila Camacho 36, Piso 10, Oficina 1058 Lomas De
Chapultepec I Secci\u00f3n. C. P. 11000, Alcald\u00eda Miguel Hidalgo
Ciudad de M\u00e9xico
100
TP Oil & Gas Mexico, S. de R.L. de C.V.
Calle Novena 357 Lote 8 Y 7 FRACC. De La Manzana 74,Seccion
Primera Baja California, 22800, Ensenada
100
MOZAMBIQUE
T.EN Mo\u00e7ambique, Limitada
Vladmir Lenine Avenue, 1123, 7th Floor Maputo
100
NETHERLANDS
T.EN Netherlands B.V.
Afrikaweg 30, 2713 AW, Zoetermeer
100
T.EN Power B.V.
Afrikaweg 30, 2713 AW, Zoetermeer
100
Technip Energies International B.V.
Afrikaweg 30, 2713 AW, Zoetermeer
100
Ecovyst International B.V.
Oosterhorn 36, 9936 HD Farmsum, Netherlands
100
Ecovyst International Cooperatie U.A.
Oosterhorn 36, 9936 HD Farmsum, Netherlands
100
Ecovyst Zeolites B.V.
Oosterhorn 36, 9936 HD Farmsum, Netherlands
100
New Dutch Catalyst Holdco 1 B.V.
Oosterhorn 36, 9936 HD Farmsum, Netherlands
100
New Dutch Catalyst Holdco 2 B.V.
Oosterhorn 36, 9936 HD Farmsum, Netherlands
100
New Dutch Catalyst Holdco 3 B.V.
Oosterhorn 36, 9936 HD Farmsum, Netherlands
100
NORWAY
Genesis Energies Norway AS
Genesis Energies Norway AS v/ Kjell Haver Regnskapsservice
Welhavens vei 5 4319 Sandnes
100
Inocean AS
Bryggegata 9, NO-0250, Oslo
100
Inocean Marotec AS
Bryggegata 9, NO-0250, Oslo
100
Kanfa AS
Philip Pedersens Road 7, 1366 Lysaker
100
OMAN
TEN Engineering Muscat SPC
Office 308 - Omana Plaza Commercial Building Plot n\u00b0159
(WGS-84) Suhar Industrial City Falaj Al Qabail PC 322
100
Company Name
Address
Interest held in %
as of December\u00a031,
2025
POLAND
Inocean Poland Sp. Z.o.o.
Stanislawa Dubois Street, No. 23, lok. Places. Szczecin 71610
100
T.EN Polska Sp. Z.o.o.
UI. Promyka 13/4, No. 13, suite 4, 01-604 Warsaw
100
SAUDI ARABIA
Technip Saudi Arabia Limited
P.O. Box 60159, Riyadh 11545
100
TPL Arabia Limited
Dhahran Center Bldg., Suite # 501, P.O. Box 30893, Al Khobar
31952
100
SENEGAL
T.EN Senegal SAS
Almadies Immeuble SCIA 2, Route du M\u00e9ridien Pr\u00e9sident, Dakar
100
SINGAPORE
Technip Energies Singapore Pte. Ltd.
8 Cross Street #21-05 Manulife Tower, 048424, Singapore
100
SPAIN
Technip Energies Iberia, S.A.
Building n\u00b08 \u2013 Floor 4th Pla\u00e7a de la Pau s/n, World Trade
Center \u2013 Almeda Park \u2013 Cornell\u00e0 de Llobregat, 08940
Barcelona
100
SWEDEN
Inocean AB
Gardatorget 1, Goteborg
100
SWITZERLAND
Engineering Re AG
Vulkanstrasse 106, 8048 Z\u00fcrich
100
THAILAND
Technip Energies (Thailand) Ltd
20th Floor, Suntower, Building A 123 Vibhavadee-Rangsit Road,
Jomphon Jatujak, Bangkok 10900
100
UNITED ARAB EMIRATES
T.EN Middle East FZE
Office No. LB14414 P.O. Box 262274 Jebel Ali Free Zone, Dubai
100
UNITED KINGDOM
Cybernetix S.R.I.S. Limited
100 Fetter Lane, London, EC4A 1ES
100
Genesis Oil & Gas Consultants Limited
100 Fetter Lane, London, EC4A 1ES
100
Genesis Energies Consultants Ltd
100 Fetter Lane, London, EC4A 1ES
100
T.EN E&C Limited
100 Fetter Lane, London, EC4A 1ES
100
T.EN PMC Services Limited
100 Fetter Lane, London, EC4A 1ES
100
T.EN UK Holdings Limited
100 Fetter Lane, London, EC4A 1ES
100
Ecovyst Catalyst Technologies UK
Limited
The Apex, 2 Liverpool Rd, Warrington WA5 1AA,
Cheshire
100
UNITED STATES
Badger Licensing LLC
c/o Corporation Service Company 251, Little Falls Drive
Wilmington, Delaware 19808
100
T.EN WORKFORCE SOLUTIONS
c/o CT Corporation System 3867 Plaza Tower Dr Baton Rouge,
Louisiana 70816
100
T.EN Energy & Chemicals International,
Inc.
c/o CT Corporation System 3867 Plaza Tower Dr Baton Rouge,
Louisiana 70816
100
T.EN Process Technology, Inc.
c/o CT Corporation System 3867 Plaza Tower Dr Baton Rouge,
Louisiana 70816
100
T.EN S&W Abu Dhabi, Inc.
c/o Corporation Trust Center 1209 Orange St. Wilmington,
Delaware 19801
100
T.EN S&W International, Inc.
c/o CT Corporation System 3867 Plaza Tower Dr Baton Rouge,
Louisiana 70816
100
T.EN Stone & Webster Process
Technology, Inc.
c/o Corporation Trust Center 1209 Orange St. Wilmington,
Delaware 19801
100
Technip Energies USA, Inc.
c/o Corporation Trust Center 1209 Orange St. Wilmington,
Delaware 19801
100
Taclov LLC
Almaden Research Center CA 95120-6099, 650 Harry Road,
San Jose
52.59
Company Name
Address
Interest held in %
as of December\u00a031,
2025
Advanced Materials & Catalysts LLC
850 New Burton Road, Suite 201, Dover, Delaware 19904
100
Ecovyst International Holdings Inc.
850 New Burton Road, Suite 201, Dover, Delaware 19904\u00a0
100
Delpen Corporation
850 New Burton Road, Suite 201, Dover, Delaware 19904\u00a0
100
(1)Technip Energies has an ownership interest in both Yamgaz SNC and South Tambey LNG of 200,002 shares (of total outstanding shares), or 50.0005%.
It obtained a majority interest and voting control over Yamgaz SNC and South Tambey and consolidated both entities effective December\u00a031, 2016.
", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-569": { "value": "
Note 32.Subsequent events
The Board of Directors has decided to propose at the Annual
General Meeting of Shareholders of May\u00a0 5, 2026, the payment
of a dividend of \u20ac 1.0 per share, which represents
\u20ac 176.5 \u00a0million for the 2025 financial year based on the
number of shares outstanding less the expected number of
treasury shares held at the dividend record date.
On February 28, 2026, a series of military strikes and
retaliatory actions occurred across the Middle East, involving
Iran, the United States, Israel and several regional countries.
As at the date of this Annual Report (March 10, 2026), the
strikes are ongoing and Technip Energies is monitoring the
situation closely.
The Company operates in this region (as disclosed in Note 3.
and Note 4.) and continues to assess potential implications
on its projects, working closely with its clients. The
Company\u2019s primary focus remains the safety of its personnel
and the continuity of its operations. This subsequent event is
non adjusting for the December 31, 2025 financial
statements.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-570": { "value": "1.0", "decimals": 2, "dimensions": { "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "f-571": { "value": "176500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwners", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-572": { "value": "
8.2.1.Company balance sheet
Company balance sheet
(In\u00a0millions of \u20ac)
Before appropriation of profit
Notes
December 31,
2025
December 31,
2024
ASSETS
Tangible fixed assets
\u2014
\u2014
Financial fixed assets
8.2.4.1
4,164.3
3,385.3
Deferred tax assets
8.2.4.2
0.4
0.4
Total non-current assets
4,164.7
3,385.7
Other receivables
8.2.4.3
226.4
167.8
Total current assets
226.4
167.8
TOTAL ASSETS
4,391.1
3,553.5
EQUITY AND LIABILITIES
Shareholders' equity
Issued share capital
1.8
1.8
Share premium reserve
900.7
900.7
Other reserves
29.2
35.3
Legal reserves
(23.1)
(101.4)
Retained earnings
961.3
853.6
Profit of the period
363.8
390.7
Total equity
8.2.4.4
2,233.6
2,080.7
Provisions
8.2.4.5
10.6
10.1
Non-current liabilities
8.2.4.6
637.9
597.0
Loans and borrowings
8.2.4.6
1,357.8
720.9
Other current liabilities
8.2.4.7
151.3
144.9
Total current liabilities
1,509.0
865.8
TOTAL EQUITY AND LIABILITIES
4,391.1
3,553.5
8.2.2.Company income statement
Company income statement
(In\u00a0millions of \u20ac)
Notes
2025
2024
Revenue
8.2.4.8
193.7
189.8
General and administrative expenses
8.2.4.9
(257.9)
(263.7)
Operating profit/(loss)
(64.2)
(73.9)
Financial income
8.2.4.10
5.5
4.1
Financial expense
8.2.4.10
(34.0)
(39.6)
Profit/(Loss) before tax
(92.7)
(109.4)
Income tax (expense)/income
8.2.4.11
28.0
34.0
Result of Group companies
428.5
466.1
PROFIT/(LOSS)
363.8
390.7
8.2.3.General
The Company financial statements are part of the 2025
financial statements of Technip\u00a0Energies\u00a0N.V.
The Company was a private limited liability company
(besloten vennootschap met beperkte aansprakelijkheid)
incorporated under the laws of The Netherlands on
October\u00a016, 2019, with a sh are capital of \u20ac0.01 at this date.
Following the signature of the contribution agreement with
TechnipFMC plc on January\u00a031, 2021, TechnipFMC\u2019s Onshore/
Offshore business was contributed to Technip\u00a0Energies\u00a0N.V.
in exchange for 4,499,999 ordinary shares of \u20ac0.01 issuance
in the share capital of Technip\u00a0Energies. At that date,
Technip\u00a0Energies\u00a0N.V. was converted into a public limited
liability company (Naamloze Vennootschap) incorporated and
operating under the laws of the Netherlands. On February\u00a06,
2021, new shares were created by reserve allocation, with the
new number of shares amounting to 175,313,880 with a
nominal value of \u20ac0.01 each.
Listing and first admission to trading on Euronext in Paris of
ordinary shares in the share capital of Technip\u00a0Energies\u00a0N.V.
took place on February\u00a016, 2021.
Technip\u00a0Energies\u00a0N.V. is registered at the Chamber of
Commerce with registration number 76122654 and it has its
statutory seat in Amsterdam, the Netherlands.
The Company has no establishment in the Netherlands. The
Company\u2019s address is: 2126, boulevard de La D\u00e9fense
CS10266 92741 Nanterre, France.
Technip\u00a0Energies\u00a0N.V. costs are mainly comprised of
management activities and costs of the headquarters office
in Nanterre (France) parts of which are recharged to Group
companies.
Management fees and other corporate recharges are
recognized in the financial year in which services are
rendered to the entities and the costs are incurred.
Principles for the measurement of assets and
liabilities and the determination of the result
The standalone financial statements were prepared in
accordance with the statutory provisions of Part 9, Book\u00a02 of
the Dutch Civil Code and the firm pronouncements of the
Raad voor de Jaarverslaggeving. Technip\u00a0Energies\u00a0N.V. uses
the option provided in section\u00a02:362 (8) of the Dutch Civil
Code in that the principles for the recognition and
measurement of assets and liabilities and determination of
result (hereinafter referred to as principles for recognition
and measurement) of the Company financial statements of
Technip\u00a0Energies\u00a0N.V. are the same as those applied for the
consolidated financial statements. These principles also
include the classification and presentation of financial
instruments, being equity instruments or financial liabilities.
The consolidated financial statements are prepared
according to the IFRS Accounting standards as adopted by
the European Union (EU). Reference is made to the Notes to
the consolidated financial statements (8.1.6. Note
1.\u00a0Accounting principles) for a description of these principles.
In case no other policies are mentioned, refer to the
accounting policies as described in the accounting policies in
the consolidated financial statements of this Annual Report.
For an appropriate interpretation, the Company financial
statements should be read in conjunction with the
consolidated financial statements.
Investments in consolidated subsidiaries
Consolidated subsidiaries are all entities (including
intermediate subsidiaries) over which the Company has
control. The Company controls an entity when it is exposed,
or has rights, to variable returns from its involvement with
the subsidiary and has the ability to affect those returns
through its power over the subsidiary. Subsidiaries are
recognized from the date on which control is transferred to
the Company or its intermediate holding entities.
They are derecognized from the date that control ceases.
Investments in consolidated subsidiaries are measured at net
asset value, inclusive of the carrying value of the Group\u2019s
value of goodwill. Net asset value and its associated goodwill
is based on the measurement of assets, provisions, and
liabilities, and determination of profit based on the principles
applied in the consolidated financial statements.
Investments with significant influence
(associates) and joint ventures
The same accounting method, as applied on the investments
in consolidated subsidiaries, is used for joint ventures and for
investments over which Technip\u00a0Energies N.V. exercises a
significant influence on operational and financial policies.
The Company determines at each reporting date whether
there is any objective evidence that investments in the
associates and joint ventures are impaired. If this is the case,
the Company calculates the amount of impairment as the
difference between the recoverable amount of the associate
and its carrying value and recognizes the amount adjacent to
\u201cshare of profit/(loss) of associates\u201d in the income
statement. As goodwill is included in the carrying amount of
the investments in associates, it is not separately tested for
impairment.
Results on transactions, involving the transfer of assets and
liabilities between Technip\u00a0Energies\u00a0N.V. and its participating
interests or between participating interests themselves, are
not incorporated insofar as they are deemed to be
unrealized.
Taxation
Corporate tax is payable on taxable profits at amounts
expected to be paid, or recovered, under the tax rates and
laws that have been enacted or substantively enacted at the
balance sheet date. Reference is made to Notes
8.2.4.2.\u00a0Deferred tax asset and 8.2.4.11. Income tax of
Technip\u00a0Energies company financial statements.
8.2.4.Notes to the Company financial statements
The accompanying notes are an integral part of the Company financial statements.
8.2.4.1.Financial fixed assets
The movements in the financial fixed assets are as follows:
(In millions of \u20ac)
Investments
in
subsidiaries
Investments
in
associates
and joint
ventures
Quoted
equity
instruments
at FVTPL
Other
investments
Loans
Deposits
Total
Balance at January 1, 2024
3,065.2
70.1
15.0
18.7
2.7
9.2
3,180.9
Result of Group companies
477.9
(11.8)
\u2014
\u2014
\u2014
\u2014
466.1
Acquisitions
\u2014
\u2014
\u2014
1.5
\u2014
\u2014
1.5
Capital increase
70.5
\u2014
\u2014
\u2014
\u2014
\u2014
70.5
Divestments and capital repayments
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Purchase of deposits through liquidity
contract
\u2014
\u2014
\u2014
\u2014
\u2014
1.4
1.4
Share in other comprehensive income
(1.3)
3.5
\u2014
\u2014
\u2014
\u2014
2.2
Change in quoted equity instruments
at FVTPL
\u2014
\u2014
(3.0)
\u2014
\u2014
\u2014
(3.0)
Interest accrued/paid
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Foreign currency variations
(20.0)
(2.2)
\u2014
\u2014
\u2014
\u2014
(22.2)
Dividends received
(293.0)
(56.1)
\u2014
\u2014
\u2014
\u2014
(349.1)
Loans
\u2014
\u2014
\u2014
\u2014
40.0
\u2014
40.0
Other transactions with
non\u2011controlling interests
(2.0)
(0.5)
\u2014
\u2014
\u2014
\u2014
(2.5)
Other
(0.6)
\u2014
\u2014
\u2014
\u2014
\u2014
(0.6)
Movements
231.5
(67.1)
(3.0)
1.5
40.0
1.4
204.3
BALANCE AT DECEMBER 31, 2024
3,296.7
3.0
12.0
20.3
42.7
10.6
3,385.3
(In millions of \u20ac)
Investments
in
subsidiaries
Investments
in associates
and joint
ventures
Quoted
equity
instruments
at FVTPL
Other
investments
Loans(1)
Deposits
Total
Balance at January 1, 2025
3,296.7
3.0
12.0
20.3
42.7
10.6
3,385.3
Result of Group companies
470.5
(4.0)
\u2014
\u2014
(38.0)
\u2014
428.5
Acquisitions
6.1
\u2014
\u2014
4.0
\u2014
\u2014
10.1
Capital increase
797.6
\u2014
\u2014
\u2014
\u2014
\u2014
797.6
Divestments and capital repayments
(2.2)
\u2014
\u2014
\u2014
\u2014
\u2014
(2.2)
Purchase of deposits through
liquidity contract
\u2014
\u2014
\u2014
\u2014
\u2014
(4.0)
(4.0)
Share in other comprehensive
income
1.5
(4.0)
\u2014
0.2
\u2014
\u2014
(2.3)
Change in quoted equity instruments
at FVTPL
\u2014
\u2014
(1.8)
\u2014
\u2014
\u2014
(1.8)
Interest accrued/ paid
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Foreign currency variations
(30.1)
3.3
\u2014
\u2014
\u2014
\u2014
(26.8)
Dividends received
(429.4)
(45.2)
\u2014
\u2014
\u2014
\u2014
(474.6)
Loans
\u2014
\u2014
\u2014
\u2014
53.9
\u2014
53.9
Other transactions with
non\u2011controlling interests
(153.5)
154.3
\u2014
\u2014
\u2014
\u2014
0.7
Movements
660.4
104.4
(1.8)
4.2
15.9
(4.0)
779.0
BALANCE AT DECEMBER 31, 2025
3,957.1
107.4
10.2
24.5
58.6
6.6
4,164.3
(1) The share of profit represents the impairment loss of \u20ac38.0 million recognized on the loan issued to one subsidiary.
All receivables included under the financial assets fall due in more than one year.
An overview of the Company\u2019s direct investments is given below:
Subsidiaries
Company Name
Address
Interest held in %\u00a0as
of\u00a0December 31, 2025
AUSTRALIA
T.EN Australia and New-Zealand Pty Ltd
1120 Hay St, West Perth WA 6005
100
BRAZIL
Genesis Brasil Oil & Gas Engenharia
Ltda(1)
Av. Presidente Vargas 3131, 20210 Rio de Janeiro
44.85
CHINA
T.EN Chemical Engineering (Tianjin) Co.,
Ltd.
10th Floor \u2013 Yunhai Mansion 200031 Shanghai
100
COLOMBIA
T.EN Colombia, S.A. (2)
Calle 38 # 8-62 Piso 3 Santafe de Bogota D.C.
7.2
FRANCE
Clecel SAS
2126 Boulevard de La D\u00e9fense Immeuble Origine-CS 10266
92741 Nanterre Cedex
100
T.EN Marseille SAS
Technop\u00f4le de Ch\u00e2teau-Gombert 13382 Marseille Cedex 13
100
Middle East Projects International SAS
(T.EN Mepi)
2126 Boulevard de La D\u00e9fense Immeuble Origine-CS 10266
92741 Nanterre Cedex
100
Reju SAS
2126 Boulevard de La D\u00e9fense Immeuble Origine-CS 10266
92741 Nanterre Cedex
100
Safrel
2126 Boulevard de La D\u00e9fense Immeuble Origine-CS 10266
92741 Nanterre Cedex
100
T.EN Catering Services SAS
2126 Boulevard de La D\u00e9fense Immeuble Origine-CS 10266
92741 Nanterre Cedex
100
T.EN Corporate Services SAS
2126 Boulevard de La D\u00e9fense Immeuble Origine-CS 10266
92741 Nanterre Cedex
100
T.EN Eurocash SNC
2126 Boulevard de La D\u00e9fense Immeuble Origine-CS 10266
92741 Nanterre Cedex
96
Technip Energies France SAS
2126 Boulevard de La D\u00e9fense Immeuble Origine-CS 10266
92741 Nanterre Cedex
100
T.EN Engineering SAS
2126 Boulevard de La D\u00e9fense Immeuble Origine-CS 10266
92741 Nanterre Cedex
100
T.EN NET SAS
2126 Boulevard de La D\u00e9fense Immeuble Origine-CS 10266
92741 Nanterre Cedex
100
SCI les Bessons(3)
Technop\u00f4le de Ch\u00e2teau-Gombert 13382 Marseille Cedex 13
0.03
ITALY
Technip Energies Italy S.P.A.
Viale Castello Della Magliana 68, 00148 Roma
100
Technologie Progetti Lavori S.P.A.
Viale Castello Della Magliana 68, 00148 Roma
100
MALAYSIA
T.EN Far East Sdn Bhd
Suite 13.03, 13th Floor 207 Jalan Tun Razak 50400 Kuala
Lumpur
100
T.EN Consultant (M) Sdn. Bhd
Suite 13.03, 13th Floor 207 Jalan Tun Razak 50400 Kuala
Lumpur
27.18
Technip Energies (M) Sdn. Bhd.
Suite 13.03, 13th Floor 207 Jalan Tun Razak 50400 Kuala
Lumpur
30
MEXICO
T.EN de Mexico S. de R.L. de C.V.
Blvd. Manuel \u00c1vila Camacho 36, Piso 10, Torre Esmeralda II,
Col. Lomas de Chapultepec, Miguel Hidalgo, 11000, Ciudad
de M\u00e9xico, Mexico
99.99
NETHERLANDS
Technip Energies International B.V.
Afrikaweg 30, 2713 AW, Zoetermeer
100
Subsidiaries
Company Name
Address
Interest held in %\u00a0as
of\u00a0December 31, 2025
NORWAY
Inocean AS
B Ryggegata 3 0250 Oslo
100
Kanfa AS
Nye Vakas vei 80 1395 Hvalstad
100
PANAMA
T.EN Overseas S.A.
East 53rd Street Marbella, Humboldt Tower 2 nd Floor
Panama
100
SAUDI ARABIA
Technip Saudi Arabia Ltd.
Dhahran Center Building Suite 501 Dhahran Road Al-Khobar,
31952 Saudi Arabia.
100
SINGAPORE
Technip Energies Singapore Pte. Ltd.
149 Gul Circle - 629605 Singapore
100
SPAIN
Technip Energies Iberia, S.A.
Building n\u00b0 8 - Floor 4 th Pla\u00e7a de la Pau s/n World Trade
Center - Almeda Park - Cornell\u00e0 de Llobregat 08940
Barcelona
100
SWITZERLAND
Engineering Re AG
Vulkanstrasse 106 8048 Zurich
100
VENEZUELA
Inversiones Dinsa CA
Avenida Principal de La Urbina, calle 1 con calle 2, Centro
Empresarial INECOM, piso 1, oficina 1-1 La Urbina, Minicipio
Sucre, 1070, Caracas, Venezuela
100
VIETNAM
T.EN Vietnam Co., Ltd.
7F, Centec Tower Building 72-74 Nguyen Thi Minh Khai Street
and 143-145B Hai Ba Trung Street, Ward 6, District 3, Ho Chi
Minh City
100
(1)Technip Energies N.V. controls Genesis Oil & Gas Brasil Engenharia Ltda through Technip Energies International B.V.
(2)Technip Energies N.V. controls T.EN Colombia, S.A. through Technip Energies Italy S.p.A.
(3)Technip Energies N.V. controls SCI Les Bessons through T.EN Marseille SAS.
Associates and joint ventures
Company Name
Address
Interest held in\u00a0%\u00a0as
of\u00a0December 31, 2025
BOSNIA AND HERZEGOVINA
Petrolinvest, D.D. Sarajevo
Tvornicka 3 71000 Sarajevo
33.01
PORTUGAL
TSKJ Servicos de Engenharia Lda
Avenida Arriaga, numero trinta, terceiro andar - H, Freguesia
da S\u00e9, Concelho do Funchal, 9000-064, Funchal, Portugal
25
Quoted equity instruments
Company Name
Address
Interest held in\u00a0%\u00a0as
of\u00a0December 31, 2025
FRANCE
Mc Phy Energy SA
1115, route de Saint Thomas 26190 La Motte Fanjas
2.45
MALAYSIA
Malaysia Marine & Heavy Engineering
Holdings Bhd
PLO 3, Jalan Pekeliling Pasir Gudang, 81700 Malaysia
8.5
Other investments
Company Name
Address
Interest held in\u00a0%\u00a0as
of\u00a0December 31, 2025
CANADA
EVOK Fund II
1410-1130 West Pender Street
Vancouver, BC Canada
27.3
FRANCE
Oceanide
Zone industrielle Bregaillon, BP 63, 83500 La Seyne sur Mer
23.1
GERMANY
HY2GEN AG
Klingholzstra\u00dfe, 65189 Wiesbaden
8.33
SPAIN
Exponential Renewables S.L (X1 winds)
Avenida Pedralbes, 18 - 20 esc. B P. 3 PTA. 1 08034,
Barcelona
16.31
8.2.4.2.Deferred tax asset
The tax rate utilized to compute deferred taxes depends on the
location of the underlying transaction. Although registered in the
Netherlands, Technip\u00a0Energies\u00a0N.V. is tax resident in France, so
that the transactions are taxed using the French tax rate.
Technip\u00a0Energies\u00a0N.V. earnings are subject to the French
statutory rate, which is 25.83% from 2021. Technip\u00a0Energies\u00a0N.V.
is the head o f the French tax consolidated group.
As of December\u00a031, 2025, the balance of deferred tax assets
amounts to \u20ac0.4\u00a0million consisting of deferred tax asset on
pension.
As of December\u00a031, 2024, the balance of deferred tax assets
amounts to \u20ac0.4\u00a0million consisting of deferred tax asset on
pension.
8.2.4.3.Other receivables
(In millions of \u20ac)
December 31,
2025
December 31,
2024
Amounts owed by Group Companies
133.9
123.2
Current income tax receivables(1)
30.2
2.3
Other debtors
49.4
29.8
Prepaid expenses
12.9
12.5
TOTAL
226.4
167.8
(1)Income tax installments paid in 2025 exceeded the final tax due. This balance will be refunded to Technip\u00a0Energies\u00a0N.V. by the French tax authority by
September\u00a02026.
Other receivables fall due in less than one year. The fair value of the receivables reasonably approximates the book value, due
to their short-term character.
8.2.4.4.Shareholders\u2019 equity
Changes in outstanding shares are as follows:
(In number of shares)
Ordinary Shares
Treasury Shares
Number of shares at January 1, 2024
181,583,893
4,502,859
Purchase of shares - Share-based payment
\u2014
1,375,455
Purchase of shares - Share buy-back
\u2014
3,205,185
Delivery of shares - Share-based payment
\u2014
(2,089,201)
Cancellation of shares
(3,205,185)
(3,205,185)
Net purchase of shares through liquidity contract
\u2014
(32,084)
Number of shares at December 31, 2024
178,378,708
3,757,029
Purchase of shares - Share-based payment
\u2014
1,265,324
Delivery of shares - Share-based payment
\u2014
(2,279,835)
Net purchase of shares through liquidity contract
\u2014
123,434
NUMBER OF SHARES AT DECEMBER 31, 2025
178,378,708
2,865,952
Share capital
As of January\u00a01, 2024, Technip\u00a0Energies N.V. had 181,583,893
common shares issued with a nominal value of \u20ac0.01 per
share. As of December\u00a031, 2024, Technip\u00a0Energies N.V. had
178,378,708 common shares issued, as a result of the
cancellation of 3,205,185 shares following Share buy-back
program completion in December 2024. The number of
common shares remains unchanged as of December\u00a031, 2025.
Treasury shares
In 2025 and 2024, a total of respectively 2,279,835 and
2,089,201 shares were delivered to Group employees
subsequent to the vesting of share incentive plans.
In 2025 and 2024, Kepler Chevreux on behalf of
Technip\u00a0Energies\u00a0N.V. carried out sale purchase and sale
transactions pursuant to a liquidity agreement to enhance
the liquidity of Technip\u00a0Energies\u2019 shares admitted to trading
on Euronext Paris by maintaining a reasonable average daily
turnover reducing bid-ask spread and monitoring volatility.
The cash resource initially allocated to the liquidity
agreement was \u20ac9.0\u00a0million. On December\u00a031, 2025, the
Group held 153,185 shares in the capital of the Company as
well as a cash amount of \u20ac6.6\u00a0million.
As of January\u00a01, 2024, the Group held 4,502,859
Technip\u00a0Energies shares representing a total value of
\u20ac53.6\u00a0million.
On February\u00a029, 2024, the Technip\u00a0Energies Group launched
a share buy-back program of up to \u20ac100.0\u00a0million, with up to
\u20ac70\u00a0million to be used to purchase common shares for
cancellation and up to \u20ac30\u00a0million to be used to fulfill the
Company\u2019s obligations under equity compensation plans. As
of December\u00a031, 2024, 4,580,640 shares have been
purchased, of which 3,205,185 shares were cancelled.
In addition, during 2025, the Group acquired 1,265,324 shares
to cover share incentive plans granted to Group employees.
At the end of the year, the Group held 2,865,952
Technip\u00a0Energies shares representing a total value of
\u20ac79.1\u00a0million.
The movements in shareholders\u2019 equity are as follows:
(In millions of \u20ac)
Issued
share
capital
Share
premium
Other
reserves
Legal
reserve
Retained
earnings
Profit of
the period
Total
Balance at January\u00a01, 2024
1.8
970.6
19.3
(10.8)
616.9
296.8
1,894.8
Appropriation of the result of\u00a0preceding year
\u2014
\u2014
\u2014
\u2014
296.8
(296.8)
\u2014
Capital decrease
\u2014
(69.9)
\u2014
\u2014
\u2014
\u2014
(69.9)
Net profit of the year
\u2014
\u2014
\u2014
\u2014
\u2014
390.7
390.7
Translation reserve change of\u00a0the year
\u2014
\u2014
\u2014
43.0
\u2014
\u2014
43.0
Cash flow hedges change of\u00a0the year
\u2014
\u2014
\u2014
(65.1)
\u2014
\u2014
(65.1)
Other change of\u00a0the year
\u2014
\u2014
\u2014
\u2014
2.2
\u2014
2.2
Dividends
\u2014
\u2014
\u2014
\u2014
(101.5)
\u2014
(101.5)
Value of Employee services
\u2014
\u2014
18.4
\u2014
\u2014
\u2014
18.4
Treasury shares
\u2014
\u2014
(2.5)
\u2014
(26.4)
\u2014
(28.9)
Non distributable share in\u00a0profit and other
gains regarding associates and joint ventures
\u2014
\u2014
\u2014
(68.5)
68.5
\u2014
\u2014
Other transactions with non\u2011controlling
interests
\u2014
\u2014
\u2014
\u2014
(2.5)
\u2014
(2.5)
Other
\u2014
\u2014
\u2014
\u2014
(0.5)
\u2014
(0.5)
Movements
\u2014
(69.9)
15.9
(90.6)
236.6
93.9
185.9
BALANCE AT DECEMBER 31, 2024
1.8
900.7
35.3
(101.4)
853.6
390.7
2,080.7
(In millions of \u20ac)
Issued
share
capital
Share
premium
Other
reserves
Legal
reserve
Retained
earnings
Profit of
the period
Total
Balance at January\u00a01, 2025
1.8
900.7
35.3
(101.4)
853.6
390.7
2,080.7
Appropriation of the result of\u00a0preceding year
\u2014
\u2014
\u2014
\u2014
390.7
(390.7)
\u2014
Net profit of the year
\u2014
\u2014
\u2014
\u2014
\u2014
363.8
363.8
Translation reserve change of\u00a0the year
\u2014
\u2014
\u2014
(132.4)
\u2014
\u2014
(132.4)
Cash flow hedges change of\u00a0the year
\u2014
\u2014
\u2014
105.6
\u2014
\u2014
105.6
Other change of\u00a0the year
\u2014
\u2014
\u2014
\u2014
(2.1)
\u2014
(2.1)
Dividends
\u2014
\u2014
\u2014
\u2014
(150.2)
\u2014
(150.2)
Value of Employee services
\u2014
\u2014
16.9
\u2014
\u2014
\u2014
16.9
Treasury shares
\u2014
\u2014
(23.0)
\u2014
(26.2)
\u2014
(49.2)
Non distributable share in\u00a0profit and other
gains regarding associates and joint ventures
\u2014
\u2014
\u2014
105.1
(105.1)
\u2014
\u2014
Other transactions with non\u2011controlling
interests
\u2014
\u2014
\u2014
\u2014
0.6
\u2014
0.6
Movements
\u2014
\u2014
(6.1)
78.3
107.7
(26.9)
153.0
BALANCE AT DECEMBER 31, 2025
1.8
900.7
29.2
(23.1)
961.3
363.8
2,233.6
Difference in equity and profit/loss between the Company and consolidated financial statements
As of December\u00a031, 2025, and 2024, there is no difference between the consolidated equity and Company equity.
Legal reserves
The legal reserves can be broken down as follows:
(In millions of \u20ac)
December 31,
2025
December 31,
2024
Translation reserve
(182.7)
(50.3)
Cash flow hedges
54.5
(51.1)
Non distributable share in profit and other gains regarding associates
and\u00a0joint ventures
105.1
\u2014
TOTAL
(23.1)
(101.4)
The reserve for translation differences concerns all exchange
rate differences arising from the translation of the net
investment in foreign entities.
Proposed appropriation of result
Article\u00a010 of the Articles of Association stipulates, among
other things, that the Board of Directors shall annually
decide which part of the profit shall be allocated to the
reserves. The remaining part of the profit shall be at the
disposal of the Annual General Meeting. The profit
attributable to the equity holders of the Company for fiscal
year 2025 amounts to \u20ac363.8\u00a0million. The Board of Directors
proposes to add an amount of \u20ac187.3\u00a0million to retained
earnings and to present for approval to the Annual General
Meeting of the Company its proposal to distribute in cash a
dividend amount of \u20ac1.0 per share, which represents
\u20ac176.5\u00a0million.
8.2.4.5.Provisions
(In millions of \u20ac)
December 31,
2025
December 31,
2024
Provisions for pensions and other employee benefits
1.5
1.7
Other provisions
4.2
\u2014
Provisions for lawsuits and legal matters (1)
4.9
8.4
TOTAL PROVISIONS
10.6
10.1
(1)In connection with the Spin-off, Technip\u00a0Energies\u00a0N.V. and TechnipFMC entered into a Separation and Distribution Agreement on January\u00a07, 2021.
Pursuant to this agreement, certain lawsuits and provisions were transferred to Technip\u00a0Energies\u00a0N.V.
All provisions can be classified as non-current (longer than one year), except \u20ac2.6\u00a0million that will be paid in 2026. For more
information on provisions for lawsuit and legal matters, please refer to Note 25. Provisions (non-current and current) of the
consolidated financial statements.
8.2.4.6.Loans and borrowing
(In millions of \u20ac)
December 31,
2025
December 31,
2024
Bonds
594.0
594.0
Accrued interest - Bonds (non-current)
3.9
3.0
Bank credit lines (non-current)
40.0
\u2014
TOTAL NON-CURRENT LIABILITIES
637.9
597.0
Accrued interest - Bonds (current)
4.0
4.0
Accrued interest - Bank borrowing
0.1
0.1
Financial debts and liabilities with Group companies(1)
1,353.7
716.7
TOTAL LOANS AND BORROWING (CURRENT)
1,357.8
720.9
(1)Current account with Group cash pooling entity bearing interests at Libor +0.40%.
Refer to Note 22. Debt (long and short-term debt) for more details and notes of the consolidated financial statements.
8.2.4.7.Other current liabilities
(In millions of \u20ac)
December 31,
2025
December 31,
2024
Trade payables
21.7
16.6
Amounts owed to Group companies(1)
64.1
64.9
Payroll costs and social security charges
6.0
6.9
Tax consolidation payable to Group companies
35.3
5.8
Other creditors(2)
24.2
50.7
TOTAL CURRENT LIABILITIES
151.3
144.9
(1)The balance consists of Technip Energies Group trade payables.
(2)Including liability in relation to the Spin-off amounting to \u20ac11.9\u00a0million in 2025 and in 2024. Technip\u00a0Energies N.V. and TechnipFMC entered into a
Separation and Distribution Agreement on January\u00a07, 2021. Pursuant to this agreement, certain liabilities were transferred to Technip\u00a0Energies N.V.
The other current liabilities fall due in less than one year. The fair value of other current liabilities approximates the book
value, due to their short-term character.
8.2.4.8.Revenue
Revenue comprises management fees and other corporate costs recharged to Group companies.
8.2.4.9. General and administrative expenses
(In millions of \u20ac)
2025
2024
Employee benefits
(37.0)
(32.9)
Services rendered by subsidiaries
(163.9)
(170.0)
External fees and other
(56.1)
(59.5)
Restructuring costs
(1.0)
(1.3)
TOTAL GENERAL AND ADMINISTRATIVE EXPENSES
(257.9)
(263.7)
Wages and salaries
(In millions of \u20ac)
2025
2024
Wages and salaries
(7.9)
(9.1)
Social security charges
(11.8)
(5.1)
Costs with respect to Long-Term Incentive awards (1)
(16.9)
(18.4)
Pension contributions
(0.4)
(0.3)
TOTAL EMPLOYEE BENEFITS
(37.0)
(32.9)
(1)The cost with respect to Long-Term Incentive awards is related to all Group employees.
8.2.4.10.Financial income and expenses
(In millions of \u20ac)
2025
2024
Interest Income/(charges) (1)
(28.0)
(35.8)
Foreign exchange gain/(loss)
(0.6)
2.9
Revaluation of quoted equity instruments
(1.8)
(2.9)
Other financial Income/(expenses)
1.9
0.3
TOTAL FINANCIAL INCOME AND EXPENSES
(28.5)
(35.5)
(1)Including \u20ac(27.3)\u00a0million in 2024 and \u20ac(18.9)\u00a0million in 2025 relating to Group entities.
8.2.4.11.Income tax
Income tax is calculated based on the income before taxes,
taking into account temporary and permanent differences.
Technip\u00a0Energies\u00a0N.V. net income is subject to the French
statutory rate, which is 25.83% from 2021.
The French companies of the Group form a tax consolidated
group headed by Technip\u00a0Energies\u00a0N.V. According to French
tax law, Technip\u00a0Energies\u00a0N.V. is solely liable toward French
tax authorities for the corporate income tax due for the
entire tax consolidated group. However, every French affiliate
member of the French tax consolidated group is liable
toward Technip\u00a0Energies\u00a0N.V. for the corporate income tax
resulting from the taxation of its share in the consolidated
group taxable income. Therefore, every French affiliate
member of the French tax consolidated group recognizes a
corporate income tax liability based on their taxable profit.
Income tax reconciliation
The reconciliation between taxes calculated using the statutory tax rate applicable to Technip\u00a0Energies and the amount of tax
effectively recognized in the income statement is as follows:
(In millions of \u20ac)
Notes
2025
2024
Profit/(Loss) before taxation
8.2.2.
(92.7)
(109.4)
French standard rate
25.83%
25.83%
Theoretical income tax income/(expense)
23.9
28.2
Effects of:
Benefit of the tax consolidation
12.6
8.8
Change in quoted equity instruments at FVTPL
(0.3)
2.9
Gains/Losses on purchase/disposal of financial assets
\u2014
\u2014
Equity compensation
3.3
(0.6)
Share of expense allocated to dividends received
(1.7)
(0.9)
Other taxes classified as income taxes
(9.2)
(4.5)
Others
(0.6)
0.1
TAX (EXPENSE)/INCOME
8.2.2.
28.0
34.0
EFFECTIVE TAX RATE
30.2%
31.1%
8.2.4.12.Commitments and contingencies
Company and bank guarantees
Technip\u00a0Energies\u00a0N.V. has issued guarantees for contractual
obligations to complete and deliver projects for the account
of several Group companies, and fulfillment of other
obligations. Guarantees given by Technip\u00a0Energies\u00a0N.V.
consist of bank guarantees for a total amount of
\u20ac1,192.4\u00a0million and parental company guarantees for a total
amount of \u20ac37,821.9\u00a0million as of December\u00a031, 2025. In
2024, bank and parental company guarantees amounted to
\u20ac1,012.3\u00a0million and \u20ac37,714.5\u00a0million respectively.
Contingent liabilities
Technip\u00a0Energies\u00a0N.V. committed to provide all the requisite
financial support to ensure that the subsidiaries listed below
can continue as a going concern and meet all liabilities and
obligations as they fall due. This support is provided for at
least the next twelve months from the date that the
Directors approved and signed the most recent financial
statements:
Cybernetix S.R.I.S Limited
T.EN Marseille SAS
Genesis Energies Consultants Ltd
Technip Energies (M) Sdn.Bhd.
Genesis Oil & Gas Consultants Ltd
T.EN E&C Ltd
Reju SAS
T.EN PMC Services Ltd
T.EN UK Holdings Limited
T.EN Vietnam Co., Ltd.
8.2.4.13.Board of Directors remuneration
Remuneration cost of Executive Director
The total remuneration cost of the Executive Director amounted respectively to \u20ac8,937.2\u00a0thousands in 2025 and \u20ac6,840.1\u00a0thousands
in 2024.
(In thousands of \u20ac)
Arnaud Pieton
2025
2024
Wages and fringe benefits
961.1
959.2
Annual incentives
1,134.0
1,042.3
Social security charges
4,040.1
1,898.5
Costs with respect to Long-Term Incentive awards
2,550.7
2,689.0
Pension contributions
251.3
251.1
TOTAL REMUNERATION COST
8,937.2
6,840.1
The 2024 annual incentive was paid in 2025. The annual incentive for 2025 will be paid in 2026.
Remuneration cost of Non-Executive Directors
(In thousands of \u20ac)
2025 NON-EXECUTIVE DIRECTORS
Directors
Salaries and
fringe
benefits
Annual
incentives
Long-Term
Incentive
awards
Pension-
related
benefits
Total 2025
Arnaud Caudoux (Audit, Nomination and
Governance) (1)
\u2014
\u2014
\u2014
\u2014
\u2014
Colette Cohen (Compensation, Sustainability Chair)
133.0
\u2014
\u2014
\u2014
133.0
Stephanie Cox (Compensation, Sustainability)
114.0
\u2014
\u2014
\u2014
114.0
Simon Eyers (Audit Chair, Sustainability)
138.0
\u2014
\u2014
\u2014
138.0
Alison Goligher (Compensation Chair, Nomination and
Governance)
133.0
\u2014
\u2014
\u2014
133.0
Joseph Rinaldi (Non-Executive Chair, Nomination and
Governance Chair)
350.0
\u2014
\u2014
\u2014
350.0
Francesco Venturini (Audit)
105.0
\u2014
\u2014
\u2014
105.0
Ma\u00eblle Gavet (Sustainability)
105.0
\u2014
\u2014
\u2014
105.0
Matthieu Malige (Audit)
105.0
\u2014
\u2014
\u2014
105.0
TOTAL
1,183.0
\u2014
\u2014
\u2014
1,183.0
(1)Mr.\u00a0Arnaud Caudoux waived his cash and equity remuneration because of the policies of his employer, Bpifrance.
(In thousands of \u20ac)
2024 NON-EXECUTIVE DIRECTORS
Directors
Salaries and
fringe
benefits
Annual
incentives
Long-Term
Incentive
awards
Pension-
related
benefits
Total 2024
Arnaud Caudoux (Audit, Nomination and
Governance) (1)
\u2014
\u2014
\u2014
\u2014
\u2014
Colette Cohen (Compensation, Sustainability Chair)
132.5
\u2014
\u2014
\u2014
132.5
Stephanie Cox (Compensation, Sustainability)(2)
114.0
\u2014
\u2014
\u2014
114.0
Simon Eyers (Audit Chair, Sustainability) (3)
131.7
\u2014
\u2014
\u2014
131.7
Alison Goligher (Compensation Chair, Sustainability,
Nomination and Governance) (4)
138.5
\u2014
\u2014
\u2014
138.5
Joseph Rinaldi (Non-Executive Chair, Nomination and
Governance Chair)
250.0
\u2014
\u2014
\u2014
250.0
Francesco Venturini (Audit)
105.0
\u2014
\u2014
\u2014
105.0
Marie-Ange Debon (Audit Chair)(5)
43.7
\u2014
\u2014
\u2014
43.7
Nello Uccelletti (Compensation)(6)
37.4
\u2014
\u2014
\u2014
37.4
Ma\u00eblle Gavet (Sustainability)
67.6
\u2014
\u2014
\u2014
67.6
Matthieu Malige (Audit) (7)
67.6
\u2014
\u2014
\u2014
67.6
TOTAL
1,088.0
\u2014
\u2014
\u2014
1,088.0
(1)Mr.\u00a0Arnaud Caudoux waived his cash and equity remuneration because of the policies of his employer, Bpifrance.
(2)Ms.\u00a0Stephanie Cox was appointed as member of the Compensation Committee with effect at the close of the 2024 Annual General Meeting.
(3)Mr.\u00a0Simon Eyers was appointed as Chair of the Audit Committee with effect at the close of the 2024 Annual General Meeting.
(4)Ms.\u00a0Alison Goligher ceased to be a member of the Sustainability Committee after the 2024 Annual General Meeting.
(5)Ms.\u00a0Marie-Ange Debon ceased to be the Chair of the Audit Committee after the 2024 Annual General Meeting.
(6)Mr.\u00a0Nello Uccelletti ceased to be a member of the Compensation Committee after the 2024 Annual General Meeting.
(7)Ms.\u00a0Ma\u00eblle Gavet and Mr.\u00a0Matthieu Malige were appointed Directors at the 2024 Annual General Meeting.
No payments for termination were made either in 2024 or in 2025 to any Board members. For an explanation of the
Remuneration Policy, see the Remuneration report in chapter\u00a0 6.
8.2.4.14.Number of employees
There were respectively 10 and 12 employees in Technip\u00a0Energies\u00a0N.V. as of December\u00a031, 2025, and December\u00a031, 2024, These
employees are located outside of the Netherlands.
8.2.4.15.Independent audit fees
For the audit fees relating to the procedures applied to Technip\u00a0Energies\u00a0N.V. and its consolidated group entities by accounting
firms and external independent auditors, reference is made to Note 30. Auditor\u2019s remuneration of the consolidated financial
statements.
8.2.4.16.Events after end of reporting
A dividend of \u20ac1 per share, which represents \u20ac176.5\u00a0million based on the number of shares outstanding less the expected
number of treasury shares held at the dividend record date, will be proposed at the Annual General Meeting on May\u00a05, 2026.
Refer to Note 32. Subsequent events of the consolidated financial statements for additional information on subsequent events.
Nanterre, France
March\u00a010, 2026
Executive Committee
\u25a0 Arnaud Pieton, Chief Executive Officer
\u25a0 Marco-Tiziano Barone, Chief Legal Officer
\u25a0 Magali Castano, Chief People Officer
\u25a0 Lo\u00efc Chapuis, President Project Delivery & Services
\u25a0 Patrik Frisk, President Adjacent Business Models and Chief
Executive Officer of Reju
\u25a0 Benjamin Lechuga, Chief Strategy & Sustainability Officer
\u25a0 Jesse Stanley, President Technologies & Products
(effective March 16, 2026)
\u25a0 Bruno Vibert, Chief Financial Officer
Board of Directors
\u25a0 Joseph Rinaldi, Chair of the Board
\u25a0 Arnaud Pieton, Chief Executive Officer
\u25a0 Arnaud Caudoux
\u25a0 Colette Cohen
\u25a0 Stephanie Cox
\u25a0 Simon Eyers
\u25a0 Ma\u00eblle Gavet
\u25a0 Alison Goligher
\u25a0 Matthieu Malige
\u25a0 Francesco Venturini
8.2.5.Appropriation of result
Articles of Association governing profit
appropriation
With regard to the appropriation of results, Article\u00a010 of the
Articles of Association provides as follows:
\u25a0 10.1 Profit and loss. Distributions on Shares:
\u2022 10.1.1 Distribution of dividends pursuant to this
Article\u00a010.1 will take place after the adoption of the
Annual Accounts, which show that the distribution is
allowed.
\u2022 10.1.2 The Company may make distributions on Shares
only to the extent that its Shareholders\u2019 equity exceeds
the sum of the paid-up and called-up part of the
capital and the reserves, which must be maintained by
Dutch law or the Articles of Association.
\u2022 10.1.3 The Board may determine that any amount out of
the profit will be added to the reserves.
\u2022 10.1.4 The profit remaining after application of
Article\u00a010.1.3 will be at the disposal of the General
Meeting.
\u2022 10.1.5 The General Meeting may only resolve to make a
distribution on Shares in kind or in the form of Shares
at the proposal of the Board.
\u2022 10.1.6 Subject to the other provisions of this Article\u00a010.1,
the General Meeting may, at the proposal of the Board,
resolve to make distributions on Shares to the debit of
one or several reserves, which the Company is not
prohibited from distributing by virtue of Dutch law or
the Articles of Association.
\u2022 10.1.7 For the purpose of calculating the amount of any
distribution, Shares held by the Company shall not be
taken into account. No distribution shall be made on
Shares held by the Company, unless those Shares are
encumbered with a right of usufruct or a right of
pledge.
\u25a0 10.2 Interim distributions:
\u2022 10.2.1 The Board may resolve to make interim
distributions on Shares if an interim statement of
assets and liabilities shows that the requirement of
Article\u00a010.1.2 has been met.
\u2022 10.2.2 The interim statement of assets and liabilities
referred to in Article\u00a010.2.1 relates to the condition of
the assets and liabilities on a date no earlier than the
first day of the third month preceding the month in
which the resolution to distribute is published. This
interim statement must be prepared on the basis of
generally acceptable valuation methods. The amounts
to be reserved under Dutch law and the Articles of
Association must be included in the statement of
assets and liabilities. This statement must be signed by
the Directors. If one or more of their signatures are
missing, this absence and the reason for this absence
must be stated.
\u25a0 10.3 Notices and payments:
\u2022 10.3.1 Any proposal for a distribution on Shares must
immediately be published by the Board in accordance
with the regulations of the stock exchange where the
Shares are officially listed at the Company\u2019s request.
The notification must specify the date when and the
manner in which the distribution will be payable or \u2013 in
the case of a proposal for distribution \u2013 is expected to
be made payable.
\u2022 10.3.2 Distributions will be payable on the day
determined by the Board.
\u2022 10.3.3 The persons entitled to a distribution shall be
the relevant Shareholders, holders of a right of
usufruct on Shares and holders of a right of pledge on
Shares, at a date to be determined by the Board for
that purpose. This date shall not be earlier than the
date on which the distribution was announced.
\u2022 10.3.4 Distributions which have not been claimed upon
the expiry of five years and one day after the date
when they became payable will be forfeited to the
Company and will be carried to the reserves.
\u2022 10.3.5 The Board may determine that distributions will
be made payable in euro or in another currency.
", "dimensions": { "concept": "ifrs-full:DisclosureOfConsolidatedAndSeparateFinancialStatementsExplanatory", "language": "en", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-573": { "value": "1.0", "decimals": 2, "dimensions": { "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare", "entity": "scheme:724500FLODI49NSCIP70", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } } } }