Gaztransport and Technigaz GTT.PA (GTT) reported on Friday an 81% increase in its turnover in the first quarter, driven by continued good momentum in orders.
Sales of the naval engineering group stood at 144.8 million euros in the first quarter after 79.9 million euros a year ago.
“With 25 orders for LNG carriers and 4 orders for large capacity ethane carriers recorded in the first quarter of 2024, commercial performance in our main activity remains strong. Demand for LNG [gaz naturel liquéfié] remains very strong”, declared Philippe Berterottière, chairman and CEO of the group, in a press release.
GTT also announced in a separate press release the appointment of Jean-Baptiste Choimet to the position of general manager as part of the implementation of the group’s new governance. Philippe Berterottière will be reappointed as chairman of the board of directors. The new governance will take effect on June 12, 2024.
The group confirmed its annual objectives, namely a consolidated turnover in the range of 600 to 640 million euros, a consolidated Ebitda of 345 to 385 million euros and a dividend corresponding to a minimum distribution rate of 80% of consolidated net income.
(Writing by Alban Kacher, editing by Kate Entringer)