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UPDATE 1-Technip Energies targets 2021 revenue of 6.5-7 bln euros

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PARIS, Jan 28 (Reuters) - Technip Energies, the company resulting from the spin-off of Franco-American energy group TechnipFMC , said on Thursday it aimed for 2021 revenue of between 6.5 billion euros and 7 billion euros.

The group also said in a statement on its Capital Markets Day that it targeted an operating margin of between 5.5% and 6% in 2021.

For 2020, revenue was expected to reach 5.9-6.1 billion euros and the operating margin was seen at between 5.6% and 5.8%.

Medium term, Technip Energies targets single-digit revenue growth at constant currency rates and a 100 basis points increase in operating margin.

“Today, our extensive backlog and a breadth of commercial opportunities provide strong revenue visibility and medium-term margin expansion potential,” CEO Arnaud Pieton said.

At end-June 2020, the company’s backlog stood at 13.2 billion euros.

The group, created four years ago via the merger of Technip and FMC, initially planned to separate its engineering and construction activities from its upstream oil services business during the first half of 2020.

That plan was put on hold due to turbulence in financial markets linked to the coronavirus crisis.

Technip Energies aims to list on the Paris stock market with the spin-off expected to be completed in the first quarter of 2021, subject to regulatory approvals.

Reporting by Sudip Kar-Gupta, Dominique Vidalon, Blandine Henault; editing by Jacqueline Wong and Jason Neely

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