GTT reports full year 2015 results

Gaztransport & Technigaz (GTT) has reported a slight fall in 2015 revenue to €226.5 million, compared to €226.8 million in 2014.

The company’s net margin stood at 51.8% in 2015, compared to 50.9% in the previous year.

GTT received 35 orders throughout 2015, including three floating storage and regasification units (FSRUs), 31 LNG carriers, and an LNG bunker barge. The company also noted several other highlights, including its first licensing agreement with an Indian shipyard, and the cooperation agreements signed for the industrialisation of its Mark V and NO96 Max technologies.

The company has set its 2016 target revenue at more than €250 million, with a net margin of more than 50%.

Philippe Berterottière, Chairman and Chief Executive Officer of GTT, said: "In a volatile environment, our order book was again well-filled, with 35 new orders in 2015. This allows us to once more confirm our revenue target for 2016, at more than €250 million, and to anticipate for the same financial year a net margin of more than 50%. We also aim to distribute, for 2016 and 2017, an amount of dividend at least equivalent to that proposed for 2015.

“Since our stock exchange listing, we have demonstrated that we are able to meet our targets. Our commercial success resides above all in our ability to develop our technologies and to offer shipyards and shipowners the safest, most efficient solutions at the optimum price. The best illustrations of this are the agreements signed with the leading South Korean shipyards for marketing our new Mark V and NO96 Max technologies, and the launch of new services for shipowners. From a financial point of view, we have a strong balance sheet and systematically seek the best trade-off between efficiency and flexibility through strict management of our resources."

Edited from press release by Callum O'Reilly

Read the article online at: https://www.lngindustry.com/lng-shipping/19022016/gtt-reports-full-year-2015-results-2020/