Technip Energies S/Adr

Good afternoon, this is the conference operator. Welcome and thank you for joining the Technic Energy's third quarter 2026 results conference call. As a reminder, all participants are in listen-only mode. After the presentation, there will be an opportunity to ask questions by pressing star and 1 on your telephone keypad. At this time, I would like to turn the conference over to Marion Vaison, Director of Investor Relations. Please go ahead, madam.

Thank you, Maria. Hello, and welcome to Technip Energies financial results for the first nine months, 2026. On the call today, our CEO, Arnaud Pieton, will discuss our nine-month performance and business highlights. This will be followed by CFO, Bruno Vibert, who will share more details on our financials. Arnaud will then return for the outlook and conclusion before opening for questions. And before we start, I would urge you to take note of the forward-looking statements on slide three. I will now pass the call over to Arnaud.

Thank you Marion and welcome everyone to our results presentation for the first nine months of 2026. Let me begin with the key highlights. Our nine-month performance demonstrates the resilience of our execution model amid prolonged disruption to the operating environment in the Middle East. We delivered year-over-year revenue growth through disciplined execution and close coordination with our customers. As anticipated, profitability meaningfully recovered from the second quarter and we achieved our highest ever quarterly EBITDA in Q3. We confirm our full year guidance. I want to draw your attention on a key feature of Technip Energies. Quarter after quarter, we have consistently generated strong free cash flow regardless of context. On the commercial front, building on an exceptional first half in project delivery, Our order intake for the first nine months reached an impressive 14 billion euros. This has taken our backlog to 24.5 billion, close to record levels. Together, these results show that we are managing the near-term environment effectively while reinforcing our long-term growth strategy. Let me now turn to the Middle East situation and how we have stabilized our operational and financial performance. Our teams moved quickly to adapt to this complex operating environment, establishing alternative logistical routes that have enabled us to operate safely and to keep our projects moving forward. The situation is currently stable, with good operational progress translating into solid cash generation. The rate at which incremental costs are being incurred remains contained and in line with recent trends. They relate mainly to two areas. First, logistics, including alternative routes, standby fees, and the storage of equipment at marshaling yards. Second, the resequencing of activities resulting from these constraints. together with the associated impact on operational efficiency. Logistics remains a key area of focus, particularly for critical equipment that cannot be transported over land due to weight and height restrictions. Looking ahead to 2027, access through the Strait of Hormuz for large equipment will become increasingly important for sustaining execution on a small number of projects. In parallel, our contracts provide strong protection and discussions to reach commercial resolutions are progressing. Overall, thanks to the tenacity and adaptability of our teams, operations are stable, financial impacts remain contained, and we continue to make good progress in a disrupted environment. While we continue to manage these near-term constraints, our order intake is reinforcing confidence in the medium-term outlook for Technip Energies. Year-to-date, order intake has exceeded 14 billion. For context, this is nearly 75% higher than the average full-year order intake since 2023. Project delivery orders, particularly in the first half, were strong and diversified across end markets and geographies. Technologies, products, and services, or TPS, is also benefiting from renewed demand, particularly in the traditional markets of ethylene, hydrogen, and fertilizers. The book-to-bill ratio over the last six months for TPS has remained above one, supporting the outlook for this segment. Overall, this performance validates our approach of pursuing selective growth in project delivery while enriching the TPS portfolio and increasing its contribution over time. Alongside our core priorities, We are advancing adjacent business models that leverage our differentiated capabilities and can enhance the durability of our earnings. Let me begin with Reju, the most mature of these ventures, which continues to advance. Its technology has been tested and proven, with our Frankfurt demonstration plant producing high-quality recycled polyethylene, or RPET, which has now been converted into commercial products by several brands. Substantial funding has also been secured through the Dutch government to support Reju's first plant at industrial scale. Agreements are secured for textile waste feedstock while discussions are progressing for off-tech agreements supporting a potential final investment decision in 2027. Turning to sustainable aviation fuel, we are establishing Rebound, a joint venture to develop a major project in France. For this landmark alcohol-to-jet project, Technip Energies will act as lead developer and engineering services provider alongside Airbus, Safran and Terraeus. This partnership model reflects a firm conviction that decarbonization can advance when producers, and consumers invest together. We believe sustainable aviation fuel represents an attractive long-term market for where Technic Energies holds a leading position across all major pathways. So in conclusion, Reju and Rebound demonstrate how we can translate our differentiation into new sources of through-cycle earnings. With that, I will pass the call to Bruno to take you through our financial performance in more detail.