International Markets to Return to Growth in 2018
International markets will return to growth in 2018, although at a more moderate pace than North America.
That is the view of Doug Pferdehirt, CEO of TechnipFMC, who stated that the Middle East, Asia Pacific, and Europe are ‘positioned for the strongest growth’. In 2018, the company believes that revenues for its North American business will begin to approach the levels achieved at the cycle peak in 2014.
TechnipFMC registered revenues of $3.68 billion in the three month period ended Dec. 31, 2017. The company reported a net loss during this period of $153.9 million. Total revenue for 2017 was $15 billion and total net income was $113.3 million.
“Our full year operational performance is a result of our relentless focus on project execution and our commitment to delivering client success,” Pferdehirt said in a company statement.
“We will balance investment for growth against returning capital to our investors and will continue the dividend and share repurchase activity we initiated last year. Our strong execution performance and market acceptance of our integrated business model and new technologies, combined with our continued focus on cost and efficiency, positions us well to deliver strong performance in 2018,” he added.
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