TechnipFMC plc
For the period ended Mar 31, 2024. Filed Apr 26, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed Apr 26, 2024
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Inbound Orders and Order Backlog
Inbound orders -Inbound orders represent the estimated sales value of confirmed customer orders received during the reporting period.
| Inbound Orders | ||
|---|---|---|
| Three Months Ended March 31, | ||
| (In millions) | 2024 | 2023 |
| Subsea | $2,403.8 | $2,536.5 |
| Surface Technologies | 370.6 | 322.4 |
| Total inbound orders | $2,774.4 | $2,858.9 |
Order backlog -Order backlog is calculated as the estimated sales value of unfilled, confirmed customer orders at the reporting date. Backlog reflects the transaction price for products and services for which we have a material right, but work has not been performed. See Note 4 for further details.
| Order Backlog | ||
|---|---|---|
| (In millions) | March 31,2024 | December 31,2023 |
| Subsea | $12,455.5 | $12,164.1 |
| Surface Technologies | 1,037.0 | 1,066.9 |
| Total order backlog | $13,492.5 | $13,231.0 |
Subsea - Subsea backlog of $12,455.5 million as of March 31, 2024 increased by $291.4 million compared to December 31, 2023, and was composed of various subsea projects, including Petrobras Buzios 6, Mero II, and, Mero 3 HISEP®; TotalEnergies Mozambique LNG and GirLiFlex; ExxonMobil Uaru; AkerBP Utsira High; Azule Energy Agogo; Shell Sparta, Husky West White Rose; Equinor Raia and Rosebank; ENI Merakes East; Woodside Trion and OMV Berling.
Surface Technologies - Order backlog for Surface Technologies as of March 31, 2024 decreased by $29.9 million compared to December 31, 2023. Surface Technologies’ backlog of $1,037.0 million as of March 31, 2024, was composed primarily of projects in the Middle East, namely Aramco and ADNOC. The remaining backlog was composed of various projects in the rest of the world.
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