News
Q1 2024 revenues: Outstanding growth of 81%; good order momentum continues
2024-04-19
- High level of orders: 25 LNG carriers and 4 very large ethane carriers ordered during the first quarter of 2024
- Revenues amounting to 144.8 million euros, a very strong growth of 81% compared to the first quarter of 2023
- Confirmation of 2024 targets
Paris – April 19, 2024. GTT, the technological expert in membrane containment systems used to transport and store liquefied gases, today announces its revenues for the first quarter of the 2024 financial year.
Commenting on the results, Philippe Berterottière, Chairman and Chief Executive Officer of GTT, said: “With 25 orders for LNG carriers and 4 orders for very large ethane carriers booked in the first quarter of 2024, commercial performance in our core business remains strong. LNG continues to be in very high demand.
GTT is pursuing its constant R&D and innovation efforts with the ambition of being a major technological player in the decarbonisation of maritime transport. As such, we obtained an important new approval in principle during the first quarter in the field of liquid hydrogen transport.
In the area of digital solutions, we completed the acquisition of VPS, a Danish company specializing in ship performance, and its integration into the Group has started.
Moreover, in January 2024, Elogen began construction of its electrolyser manufacturing plant in Vendôme, which is scheduled to start from the fourth quarter of 2025.
Regarding our CSR strategy, GTT published its first dedicated roadmap, demonstrating the Group’s commitment to a sustainable and responsible economy.
From a financial standpoint, revenues for the first quarter of 2024 show a strong increase of 81% compared to the first quarter of 2023. Revenue growth is expected to continue in the coming year, due to the growing number of vessels under construction. In this context, the Group confirms its 2024 targets”.
