In addition to producing cryogenic membranes used to transport liquefied natural gas, GTT offers a range of services, inspection, maintenance and repair, which won over the Qatari shipping company Nakilat, whose boats are equipped with French technology.
GTT wins a “significant” services contract, which brings recurrence to its turnover | Photo credits: ©GAZTRANSPORT AND TECHNIGAZ
GTT gained 4% on the stock market two days before the publication of its 2021 accounts. The manufacturer of cryogenic membranes used to transport liquefied natural gas by boat announced last night that it had signed a framework contract for the provision of services (inspection , maintenance, repair, engineering, emergency hotline, etc. with the Qatari shipping company Nakilat, for twenty-six ships equipped with GTT technology.
Thanks to this contract, qualified as ” significant “ by the financial analysis firm Portzamparc, the company is increasing the income from its service offer a little more, which currently represents approximately 5% of turnover and brings recurrence to GTT’s activity.
2021 was a record year in terms of the number of orders, exceeding that of 2019. These multiple deliveries to come give GTT great visibility over the years 2022 to 2024.
Portzamparc recommends buying the value to aim for 88.7 euros.
GTT holds a leading position, in quasi-monopoly, on a growing LNG market. Given the distances between the main production areas (North America, Australia, etc.) and consumption areas (Asia, including China, etc.), transporting gas by LNG carriers remains unavoidable.
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