News
Key figures for the first half of 2017
> 13 orders received during the first six months of the year
> Growth in revenues from services partially offsets the slowdown in revenues from royalties
> Interim dividend payment of 1.33 euro per share
Highlights
> Rapid FSRU[1] growth
> New technologies
> New services offered
Outlook
> Confirmation of revenue, net margin and dividend objectives
Paris – July 20, 2017. Gaztransport & Technigaz (GTT), an engineering company specialised in the design of membrane containment systems for maritime transportation and storage of liquefied gas, hereby presents its results for the first half of 2017.
Condensed income statement for H1 2017
(in thousands of euros, except for EPS) | H1 2016 | H1 2017 |
Revenues | 116,880 | 111,346 |
Operating profit before allocations for depreciation of fixed assets (EBITDA[2]) | 73,746 | 74,614 |
EBITDA margin (on revenues, %) | 63.1% | 67.0% |
Operating income (EBIT)[3]) | 72,123 | 73,013 |
EBIT margin (on revenues, %) | 61.7% | 65.6% |
Net income | 60,514 | 61,226 |
Net margin (on revenues, %) | 51.8% | 55.0% |
Net earnings per share[4] (in euros) | 1.63 | 1.65 |
While commenting on these results, Philippe Berterottière, Chairman and Chief Executive Officer of GTT, stated that: "In a challenging market, GTT experienced very robust commercial activity during the first half of the year with 13 vessel orders, thereby contributing to the reconstruction of our order book. The services business has grown significantly in its various elements. Operationally, we continued our development efforts by providing the market with new technologies intended for related segments, such as LPG transportation and marine gravity based storage. The margin levels achieved during H1 2017 demonstrate a good control of expenses at all levels of the income statement. These performances have enabled us to confirm our revenues, net margin and dividend outlook for the whole of the 2017 financial year."
[1] Floating Storage Regasification Unit
[2] EBITDA corresponds to EBIT plus depreciation on fixed assets under IFRS.
[3] EBIT means "Earnings Before Interest and Tax”
[4] For the first half of 2017, earnings per share were calculated based on the weighted average number of shares outstanding (excluding treasury shares), i.e. 37,051,563 shares.
