- GTT, a leading provider of membrane containment systems for liquefied gases, announced today robust financial results for the first half of 2024.
- The company reported a 66% increase in revenues to €295 million and a 70% surge in EBITDA to €177 million compared to the same period in 2023.
GTT’s strong financial performance was driven by a record-breaking order intake. The company secured 52 LNG carriers, four large-capacity ethane carriers, one FSRU, and one FLNG in the first half of the year, demonstrating the continued high demand for LNG transportation solutions.
Focus on Innovation and Sustainability
GTT highlighted its commitment to research and development, with new approvals obtained for liquid hydrogen transport and the finalization of its latest membrane containment technology, GTT NEXT1. The company also emphasized its progress in the digital solutions space through the integration of VPS and new commercial successes in weather routing solutions.
GTT’s subsidiary, Elogen, is advancing its electrolyzer production plans with the construction of a new manufacturing plant in Vendôme, scheduled to commence operations in the fourth quarter of 2025.
Financial Performance and Outlook
Based on the strong order book and financial performance, GTT confirmed its revenue and EBITDA objectives for the full year 2024. The company declared an interim dividend of €3.67 per share, reflecting the improved results.
About GTT
GTT is a world leader in membrane containment systems for the transport and storage of liquefied gases. The company designs and equips LNG carriers, providing innovative technologies that optimize the transportation and storage of liquefied gases while ensuring safety and efficiency.
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Source: GTT
