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Combined Shareholders’ Meeting
Posted: 02 May 2005
Technip’s shareholders convened today on the occasion of the Group’s 2005 Combined Annual General Meeting where they considered and voted in favor of a number of resolutions, including: the approval of the Group’s consolidated accounts for the full year 2004 (French GAAP), the payment of a dividend in the amount of EUR 3.30 per share. As EUR 2.00 per share was already paid in advance on December 3, 2004, the additional EUR 1.30 will be paid on May 3, 2005, a 4-for-1 share split with the corresponding division of the nominal share value with effect on May 13, 2005, after the close of the Paris stock market, the renewal of the Board of Directors’ authorization to repurchase up to 10% of the Group’s outstanding share capital.
During his address to shareholders, Daniel Valot, Chairman and CEO, confirmed the Group 2005 targets as published on February 2, 2005: revenues between EUR 4.8 and 4.9 billion, operating margin ratio above 5% and net income pre-goodwill and pre-exceptional at least equal to EUR 138 million. He indicated that first quarter 2005 order intake was approximately EUR 1.8 billion, more than twice the first quarter 2004 amount (EUR 876 million). As a result, the Group’s backlog at March 31, 2005, about EUR 7.3 billion, is considerably higher than the December 31, 2004 amount. Given the order intake outlook for the rest of the year, the Group’s backlog should continue to grow over the coming quarters.
Posted by Editor Pipeline Magazine
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