Revenues for the first 9 months of 2016

Revenues for the first nine months of 2016: €246m
Order book at 30 September 2016: €393m
Confirmation of 2016 annual targets

Heurtey Petrochem’s revenues for the first nine months of 2016 amounted to €246 million*, down 22% compared with the first nine months of 2015 (-21% at constant exchange rates).
The Gas segment accounted for 23% of revenues, while the Furnaces segment represented 77% (52% in refining, 15% in petrochemicals and 10% in hydrogen). The regional breakdown was 35% from the Americas, 30% from Asia-Oceania, 21% from the Middle East and Africa and 14% from Europe and Russia.
The Group’s order book amounted to €393 million** at 30 September 2016, compared with €455 million at 30 September 2015. It has grown since 31 March 2016 (€323 million) and 30 June 2016 (€340 million). This order book includes only the first phases of a project for a hydroprocessing unit in South America, amounting to €25 million. The following phases of the project, which could represent a total of some €75 million, will be integrated in the Group’s order book as they are released by the client.  
The Gas segment accounted for 51% of orders, and the Furnaces segment for 49% (24% for refining, 19% for hydrogen and 6% for petrochemicals).
The Americas account for 40% of the order book, Asia/Oceania 28%, Middle East/Africa 27%, and Europe/Russia 5%.
The Group confirms its 2016 target of achieving revenues of between €320 and €340 million with a current operating margin rate of around 1%.

* Unaudited figures

** The order book includes €107 million worth of contracts in Venezuela for which the Group does not anticipate any significant movement in the short term.