- Revenues from royalties up 9.4%
- Cooperation agreement for industrialisation of NO96 Max technology
- Targets for 2016 confirmed
Paris, April 12, 2016 - GTT (Gaztransport & Technigaz), an engineering company specialised in the design of membrane containment systems for the transportation and storage of liquefied gas, announces its revenues for the first quarter of 2016.
Key figures for the first quarter of 2016
(in thousands of euros) | Q1 2015 | Q1 2016 | Change |
Revenues from operating activities | 54,685 | 58,555 | +7.1% |
From royalties | 50,612 | 55,360 | +9.4% |
LNGC / VLEC[1] | 44,365 | 49,922 | +12.5% |
FSRU[2] | 3,446 | 4,435 | +28.7% |
FLNG[3] | 2,218 | 633 | -71.5% |
Onshore storage | 584 | 192 | -67.1% |
Barge | - | 177 | |
From services | 4,073 | 3,195 | -21.6% |
Philippe Berterottière, Chairman and Chief Executive Officer of GTT, commented: “Revenues generated in the first quarter of 2016 are in line with our expectations, despite some delays in shipbuilding milestones. In a particularly unfavourable global economic environment, the shipbuilding sector has been adversely affected by a wait-and-see attitude on the part of operators and charterers and we have received no new orders in the first quarter of 2016. However, with 111 units in the order book as at 31 March, we continue to enjoy good revenue visibility out to 2020. In financial terms, we also have a strong balance sheet and our strict financial management allows us to combine efficiency and flexibility. This is why we confirm our targets for 2016, in terms both of revenues and net margin. In addition, the long-term trends remain extremely positive. Demand for liquefied natural gas should remain sustained at global level and the emergence of new sources of supply favours its transport by ship, which is, of course, good news for GTT.”
[1] VLEC: Very Large Ethane Carrier
[2] FSRU: Floating Storage and Regasification Unit
[3] FLNG: Floating Liquefied Natural Gas vessel
Investor Relations Contact
information-financiere@gtt.fr / + 33 1 30 23 42 26
Media Contact
press@gtt.fr / +33 1 30 23 42 24
