Revenues for the first nine months of 2016 up 12%


  • Order book of 103 units at September 30, 2016
  • Confirmation of targets for 2016

Paris, 12 October 2016 - GTT (Gaztransport & Technigaz), an engineering company specialised in the design of membrane containment systems for the maritime transportation and storage of liquefied gas, announces its first nine months’ revenues for 2016.

Key figures

(in thousands of euros)

9M 2015

9M 2016


Revenues from operating activities








From Royalties




LNG carrier / Ethane carrier












Onshore storage








From services





Philippe Berterottière, Chairman and Chief Executive Officer of GTT, commented: “In an environment where the LNG market is still troubled, we are observing some wait-and-see attitude on the part of charterers and operators, restricting the number of new orders for LNG carriers. However, although it has yet to be confirmed, some market indicators have improved:  the charter rates for vessels have recently picked-up and current LNG price should favour the development of this energy source towards coal. On the other hand, it appears that our latest technology, Mark V, generates a strong interest in the market, as illustrated by the latest order from SHI for a LNGC that should be equipped with it. With 103 units at end-September 2016, our order book remains at a high level. The current pace of vessel construction and our services’ activity enable us to confirm our revenue and net margin targets for 2016.”

Change in revenues

Revenues for the first nine months of 2016 were up 11.6% on the same period in 2015.

  • Revenues related to royalties came out at €167.7 million, sharply up (+14.4%) on the first nine months of 2015. Royalties from LNG / ethane carriers increased by 18.0% to €151.3 million, and royalties from FSRU were up 19.6% to €14.3 million. Other royalties, totalling €2.2 million, stemmed from FLNGs, offshore tanks, and one barge.
  • Revenues related to services amounted to €9.0 million, mainly generated by maintenance contracts for ships in service, engineering studies and supplier approvals. The 23.2% decrease compared to the first nine months of 2015 is notably due to the fact that the studies activity was particularly dynamic last year.

Order book

Since January 1, 2016, the GTT order book, which then comprised 118 units, has changed, with:

  • 2 new LNG carriers orders
  • 17 deliveries: 15 LNG carriers, 1 FSRU, and 1 FLNG

At September 30, 2016, the order book stood at 103 units:

  • 91 LNGCs and ethane carriers[3]
  • 7 FSRUs[4]
  • 2 FLNGs
  • 2 onshore storage tanks
  • 1 LNG bunker barge

2016 outlook

The Company confirms its targets, namely:

  • 2016 revenues at around 240 million euros,
  • A 2016 net margin above 50%,
  • A dividend amount[5], for 2016 and 2017, at least equivalent to that paid with respect to 2015.

Financial calendar

  • Release of 2016 full-year results on February 23, 2017 (after market close)
  • Shareholders’ Meeting: May 18, 2017


[1] Floating Storage and Regasification Unit

[2] Floating Liquefied Natural Gas vessel

[3] Includes the conversion of an order for an LNG carrier into one for an FSRU

[4] In the absence of any significant delays or cancellations in orders

[5] Subject to approval of Shareholders’ meeting