Earnings release
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GTT Technology for a Sustainable World • € 240 million in revenue for the first nine months of 2021 , in line with expectations Significant order intake in the first nine months of 2021 : 48 units for the core business and 25 units for the LNG as fuel business • 2021 targets confirmed Paris - October 28 , 2021. Gaztransport & Technigaz ( GTT ) , an engineering company specialised in the design of membrane containment systems for maritime transportation and storage of liquefied gas , has today announced revenues for the first nine months of 2021 . Commenting on the results , Philippe Berterottière , Chairman and CEO of GTT , said : " With 40 LNG carrier orders , 2 ethane carrier orders and 6 onshore tanks orders , GTT's commercial performance in the first nine months of the year remains strong for our core business . These orders are mainly for delivery dates spread over the 2023-2025 period . In the LNG as fuel segment , new orders were added to those taken in the first half of the year to reach a total of 25 units , a volume that outstrips all orders taken in previous years . GTT's membrane technology has been adopted by several international ship - owners and is becoming increasingly important in a segment that is expected to grow . In terms of innovation , GTT is pursuing its roadmap with new approvals in principle by classification societies concerning notably LNG as fuel technology . From a financial standpoint , revenues for the first nine months of 2021 are in line with our expectations . They are down 21 % compared to the first nine months of 2020 , which recorded an exceptionally high level , but are up by 20 % compared to the first nine months of 2019 . Considering the level of our backlog and shipbuilding schedules , we confirm our revenue , EBITDA and dividend distribution targets for the full year 2021. " Business activity during the first nine months - A high order intake for LNG and ethane carriers GTT's business activity was marked by multiple successes during the first nine months of 2021 , particularly in the field of LNG carriers . With 40 orders for LNG carriers booked in the first nine months of 2021 , GTT's main business activity is at a very high level . Delivery of the vessels is scheduled between the first quarter of 2023 and the third quarter of 2025 . As a reminder , in April 2021 , GTT also received an order from Hyundai Heavy Industries ( HHI ) for the design of the tanks of two very large ethane carriers ( VLEC ) , with total cargo capacity of 98,000 m3 , on behalf of an Asian shipowner . The tanks will integrate GTT's Mark III membrane containment system . Delivery of the vessels is scheduled for the fourth quarter of 2022 and the first quarter of 2023 . 1