GTT confirms its targets for 2015 and 2016

PARIS, Dec. 23, 2015 (GLOBE NEWSWIRE) -- GTT (Gaztransport & Technigaz), the world leader in design and engineering of containment systems for maritime transportation and storage of LNG (Liquefied Natural Gas), confirms its targets for 2015 and 2016.

In an environment which is still contrasted and in light of the current volatility of its share price, GTT specifies that it has not experienced any material changes in its operations since its third quarter 2015 activity announcement on October 19, 2015.

Taking into account the high level of the order book, the current pace of vessels' construction, as well as sustained service activity, and subject to any significant delays or cancellations in orders, GTT's management can therefore confirm its targets, namely:

  • In 2015:
  • Revenues roughly equivalent to 2014, or close to €227 million.
  • A net margin of circa 50%,
  • A dividend payout ratio of at least 80% of the net income available for distribution.
    • In 2016:
  • A revenue growth of more than 10% vs 2015, which represents more than €250 million of revenues.

Financial Calendar

  • Release of 2015 full year results on February 18, 2016 (after market close)

Investor Relations Contact / + 33 1 30 23 42 26

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About GTT

GTT (Gaztransport & Technigaz) is the world leader in cryogenic membrane containment systems used for the transport and the storage of LNG (Liquefied Natural Gas). For over 50 years, GTT has offered to its customers technologies which allow them to optimize storage space and reduce the construction and operation costs of ships or tanks equipped with these systems. GTT operates in several sectors: LNGCs (Liquefied Natural Gas Carriers) and VLECs (Very Large Ethane Carriers), Multi-gas carriers, FLNGs (Floating Liquefied Natural Gas units), FSRUs (Floating Storage and Regasification units), onshore storage tanks and the use of LNG as a fuel.

GTT is listed in Compartment A of Euronext Paris (ISIN FR0011726835, Ticker GTT) and forms part of the SBF 120 and MSCI Small Cap indices, among others.

Important notice
The figures presented here are those customarily used and communicated to the markets by GTT. This message includes forward-looking information and statements. Such statements include financial projections and estimates, the assumptions on which they are based, as well as statements about projects, objectives and expectations regarding future operations, profits, or services, or future performance. Although GTT management believes that these forward-looking statements are reasonable, investors and GTT shareholders should be aware that such forward-looking information and statements are subject to many risks and uncertainties that are generally difficult to predict and beyond the control of GTT, and may cause results and developments to differ significantly from those expressed, implied or predicted in the forward-looking statements or information. Such risks include those explained or identified in the public documents filed by GTT with the French Financial Markets Authority (AMF), including those listed in the "Risk Factors" section of the GTT base document (in French) registered with the AMF on April 27, 2015 under number R.15-022, and the half-yearly financial report released on July 21, 2015. Investors and GTT shareholders should note that if some or all of these risks are realised they may have a significant unfavourable impact on GTT.

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Source: GTT