GTT releases H1 2018 results

Key figures for the first half of 2018:

• 21 orders received during the first six months of the year
• 12% growth in revenues linked to royalties
• Interim dividend payment of €1.33 per share

Highlights:

• LNG market strong
• Growth in LNG fuel
• New partnerships

Outlook:

• Confirmation of revenue, EBITDA, and dividend objectives

Commenting on the results, Philippe Berterottière, Chairman and CEO of GTT, declared: "The first half of 2018 was characterised by the growth in the LNG market, with a very satisfying number of orders for LNG carriers, which confirms the trends that began last year. In the field of LNG fuel, the success recorded by GTT confirmed the attraction of ship-owners for its membrane technologies. After the order for nine giant container carriers from CMA CGM at the end of last year, in January the Group obtained one order for a bunker ship to be operated by TOTAL to supply the LNG to these container carriers. In early July, GTT obtained a major success with the order of LNG tanks intended for the future Ponant icebreaker cruiser. In this particular case, GTT will be responsible for the construction of these tanks, thereby offering its partners a true turnkey solution. From a financial perspective, the cost reductions implemented in 2017 place us in a favourable position to manage closely the effects of the increase in activity. These elements lead us to confirm our revenues, EBITDA and dividend objectives for FY 2018 as a whole."

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/27072018/gtt-releases-h1-2018-results/