GTT’s nine-month revenue drops

GTT's nine-month revenue drops
Image courtesy of GTT

GTT, the French maker of LNG containment systems, reported a revenue of €168.5 million ($199 million) for the first nine months of the year, 4.6 percent down from the corresponding period in 2016. 

Commenting on the result, the company’s chairman and CEO, Philippe Berterottière, said, “third-quarter sales activity was marked by a new order for an FSRU, highlighting the market’s appetite for this type of solution.”

The company noted in its report that 14 new orders have been booked since January 2017, namely eight LNG carriers, five FSRUs and 1 FLNG. GTT made deliveries for 21 LNG and ethane carriers, two FSRUs and 1 FLNG.

The order book at September 30, 2017, stood at 86 units, consisting 70 LNG carriers, 11 FSRUs and 2 FLNGs, two onshore storage tanks and 1 LNG bunker barge.

GTT additionally, confirmed its targets for 2017, with revenue range 225-240 million euros with a net margin ratio above 50 percent.

1 EUR = 1.18136 USD

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