GTT’s 2015 revenue flat

France’s Gaztransport & Technigaz (GTT), maker of LNG containment systems, posted a revenue of 226.5 million euros, down 0.13 percent as compared to the year before.

GTT’s earnings before taxes (EBITDA) amounted to 142.2 million euros,  as compared with 142.3 million euros in 2014.

Net income rose from 115.4 million euros in 2014 to 117.3 million euros in 2015, for a net margin in 2015 of 51.8 percent, slightly higher than the announced targets, GTT said in a statement on Thursday.

In 2015, GTT booked 35 new orders, which include 31 orders for LNG carriers, 3 orders for FSRUs, and one order for an LNG bunkering barge.

“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 euros, and to anticipate for the same financial year a net margin of more than 50%,” Philippe Berterottière, CEO of GTT, said.

South Korea’s Fair Trade Commission enquiry

GTT said it was was notified on January 29 by the Korean Fair Trade Commission (KFTC) that an enquiry had been opened.

Although GTT does not have any precise information to-date, it is believed that the enquiry may concern “possible abuse of dominant position in connection with the Korean shipyards’ LNG carrier construction business“, GTT said.

“GTT believes that its business practices are compliant with the relevant Korean competition laws and intends to fully cooperate with the KFTC,” the company added.

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LNG World News Staff