Earnings release
Page 1
GTT Technology for a Sustainable World H1 2021 results Strong financial results and excellent commercial performance ; annual targets confirmed Key figures for the first half of 2021 Revenues : 165.3 million euros and EBITDA : 96.5 million euros Core business : 26 orders ( 18 LNG carriers , two ethane carriers , six onshore storage tanks ) LNG as fuel : 17 container ship orders • • • • Interim dividend of 1.35 euro per share Highlights Excellent performance of the LNG market resulting in a large number of orders . Continued development of LNG as fuel • Approval of new technologies highlighting the dynamism of GTT's R & D Outlook for 2021 • 2021 targets confirmed in terms of revenue , EBITDA and dividend Paris - July 28 , 2021. Gaztransport & Technigaz ( GTT ) , a technology and engineering company specialising in the design of membrane containment systems for maritime transportation and storage of liquefied gas , today announces its revenues for the first half of the 2021 financial year . Commenting on these results , Philippe Berterottière , Chairman and Chief Executive Officer of GTT , said : " With 18 orders for LNG carriers , two orders for ethane carriers and six orders for onshore storage tanks , the commercial performance achieved in the first half of 2021 was excellent for our core business . On top of this , nine LNGC orders were recorded in July , which shows that the market dynamic remains very positive . In addition , Qatar's decision in February this year to invest in a new gas liquefaction plant , as well as the various other liquefaction projects under construction , represent significant order potential for LNG carriers . New orders for LNG as fuel were also recorded during the first half . The order for 12 container ships in May 2021 , which follows those for nine vessels in 2017 and five in 2019 , confirm the adoption of GTT technology by CMA CGM for the liquefied natural gas propulsion of its vessels . The order from SHI on behalf of Seaspan for five container vessels fuelled by LNG , which are compatible with ammonia , further reflects the efficiency and appeal of our solutions to support the energy transition ship - owners . In terms of innovation , activity is intense . For the second year in a row , GTT is the leading French mid - sized company in terms of the number of patents published by the INPI . During the first half of the year , we obtained several approvals from classification societies to develop new innovative technologies in a wide variety of areas , such as improving the performance of our NO technology or designing a ballast - free bunker vessel . GTT maintains a constant effort on R & D to meet its customers ' energy transition needs and the increased requirements they face . From a financial standpoint , revenues for the first half of 2021 are in line with our expectations . They were down 19 % compared to H1 2020 , which recorded an exceptionally high level following particularly strong order intake , however were up 35 % compared with H1 2019. Margin levels achieved in the first half of 2021 are similar to those of the first half of 2019 and we are continuing to manage the Group with strict cost control . Considering the level of our backlog and shipbuilding schedules , we are confirming our full - year targets for 2021 " . 1