GTT sets targets for 2016

Gaztransport & Technigaz (GTT) has issued a statement, confirming its targets for 2015 and 2016.

GTT said that it has not experienced any material changes in its operations since its 3Q15 activity report, despite the current volatility of its share price.

Taking into account the high level of its order book, the current pace of vessels' construction, as well as sustained service activity, and subject to any significant delays or cancellations in orders, GTT's management confirmed that it expects the company’s 2015 revenues to be roughly equivalent to 2014 or close to €227 million.

GTT expects a net margin of circa 50% in 2015, and a dividend payout ratio of at least 80% of the net income available for distribution.

The company is also targeting a growth of more than 10% in 2016, compared to 2015. This would represent more than €250 million of revenues.

GTT will release its full year 2015 results on 18 February 2016 (after market close).

Edited from press release by Callum O'Reilly

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