GTT Q1 Revenue Climbs 31 Percent

GTT (Gaztransport & Technigaz), world leader in the design of membrane containment systems for the maritime transportation and storage of LNG, reported Q1 2014 revenue of €59.1 million, up 31.1% compared to the same quarter in 2013.

Philippe Berterottière, President and Chief Executive Officer of GTT, commented: “GTT delivered a good performance during the first quarter 2014, driven by the dynamism of both LNGC and FPSO segments. GTT also recorded its first orders in the bunkering segment. Moreover, our successful initial public offering shows the investors trust in our business model and in our unique positioning, at the heart of the LNG industry. This strong momentum is also reflected by the launch of Mark V, NO 96 Max and the opening of our training center, recently announced during the Gastech exhibition in Seoul.”

GTT confirmed its forecasts stated during its initial public offering for the financial year 2014:

– revenue of a minimum amount of EUR 223 million, being the amount of revenue associated with the company’s order book, the provision of services and orders received by the company in 2014; and

– a net margin on revenues of c. 50%.

Press Release, April 14, 2014; Image: GTT