UPDATE 1-Technip sees 2014 oil major spending growth 5-6 pct

jueves 20 de febrero de 2014 03:00 GYT
 

* Q4 net profit down 9.1 pct vs year-ago at 134.5 mln eur

* Q4 operating margin down 2.1 points to 8.3 pct

* Raises 2013 dividend to 1.85 euro/share

* CEO sees IOC capex growing 5-6 pct in 2014 (Adds details from call, statement)

PARIS, Feb 19 (Reuters) - French oil services group Technip said it expected a slowdown in capital expenditure growth to 5 or 6 percent this year among its international oil company clients as it reported a drop in margins.

Technip, which supplies pipes, platforms and equipment to energy producers, last October cut its full-year sales and margin targets for its subsea business, hit by a fall in currencies including the Brazilian real against the euro.

Shares in Technip have fallen almost 8 percent since Jan. 1, following a 19-percent decline in 2013, on fears its oil and gas majors clients would rein in exploration spending after years of large investment spurred by high oil prices.

"In the previous decade, majors and super majors had double-digit growth rates, and at the moment we're more on a 5-6 percent growth rate," CEO Thierry Pilenko told reporters on a conference call.

The group posted an operating margin of 8.3 percent in the three months to end-December, 2.1 percentage points below the same period a year ago.   Continuación...