GTT’s revenue up on strong LNG market

GTT's revenue up on strong LNG market
Image courtesy of GTT / Roland Mouron

French liquefied natural gas containment system specialist, GTT, on the back of LNG market growth, reported an 11.9 percent rise in revenue for the first six months of the year 2018. 

Revenues totaled 127.2 million euros ($148.2 million) during the first half of this year compared to 113.7 million euros recorded in the first half of 2017, GTT said in its half-year report.

Speaking of the results, Philippe Berterottière, chairman and CEO of GTT, said, “the first half of 2018 was characterized by the growth in the LNG market, with a very satisfying number of orders for LNG carriers, which confirms the trends that began last year.”

GTT’s order book, which comprised 89 units at January 1, 2018, saw several changes during the period under review. The company has made 25 deliveries in the period, of which 24 were LNG carriers and 1 FSRU, while receiving orders for 18 LNG carriers and 2 FSRUs.

Currently, the order book stands at 84 units with 66 LNG carriers, 13 FSRUs, 2 FLNGs, 2 onshore storage tanks and 1 barge.

Based on the order book, GTT has confirmed its objectives for the 2018 financial year expecting a consolidated revenue of 235 to 250 million euros.

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