Technip reported that first quarter 2008 revenue increased 8.5%, excluding exchange rate translation impact, when compared to the first quarter revenue for 2007. This was primarily due to the 14% depreciation of the US dollar and associated currencies, which had a negative impact of E112.9 million on group revenue.
Subsea revenue reached E549.1 million in the first quarter of 2008, compared to E576.3 million during the first quarter of 2007. Offshore revenue was E186.8 million, down 16.2%, compared to the same period in 2007. Onshore revenue was E1.08 billion, up 10.8%, compared to E975.6 million during the first quarter 2007.
First quarter 2008 group operating income from recurring activities was E136.9 million, up 26.9%, compared to E107.9 million recorded during the first quarter 2007. Excluding foreign exchange translation impact, operating income year-on-year was up 30.4%.
