Technip Energies: I'm Buying The Contractor Everyone Needs

Technip Energies is structurally advantaged to capture Middle East energy infrastructure restoration and expansion, especially at Qatar's Ras Laffan hub. TE's Project Delivery segment shows robust revenue growth (+10% YoY in 2025) and maintains stable margins despite industry volatility, with 2026 guidance of €6.3–€6.7bn revenue and ~8% EBITDA margin. High-margin TPS segment profitability improved due to proprietary products and consulting, though some gains are timing-related and may not be permanent.