Connection

popular articles

QatarEnergy enters Iraq’s 1.25 GW solar project with TotalEnergies
Vietnam’s energy challenges: Towards a sustainable and diversified transition
Gabon and Equatorial Guinea launch their electricity interconnection
ChatGPT founder creates nuclear fusion and recycling company
Air Products to exit three U.S.-based projects, incurring up to $3.1 billion charge

GTT: activity up in 2023

A growing business in 2023 thanks to a strong order book. After a decline last year that penalized the net profit, GTT expects an increase in activities and sales in 2023 thanks to a successful order dynamic and Russian Arctic projects that are still open. The dividend is unchanged at 3.10 euros per share.

Please share:

The French company GTT announced on Thursday that it expects its activity to increase in 2023 thanks to a strong order book, after a decline last year that penalized the net profit.

 

Results for 2022

In 2022, the company reported a net profit of 128.3 million euros, down 4%, linked to a decrease in revenues. Sales fell by 2.4% to 307.3 million euro. CEO Philippe Berterottière explains this “limited decline” by “an unfavorable base effect”. However, this effect is gradually disappearing thanks to the momentum of orders, which increased sales by 14% year-on-year in the fourth quarter.

According to Mr. Berterottière, it is the “additional needs for LNG carriers” caused by “the continuing strong demand for LNG, particularly in Europe” that have enabled this exceptional commercial performance by GTT. In fact, during the year 2021, more than 200 orders totaling 162 LNG carriers have been placed with GTT.

Targets for 2023: 385 – 430 million euros and between 190 and 235 million euros of EBITDA

430 million for the year 2023 while the operating result (EBITDA) should reach between 190 and 235 million against 161 million (-6.4%) in 2022 and this despite the announced withdrawal from the Russian market whose order book is reduced to 81 million for 15 icebreaking LNG carriers. The finalization of the terms and conditions for the design of the GBS subsea tanks is still in progress while other projects for Asian shipyards for Russian Arctic projects are proceeding normally.

Dividend unchanged at 3.10 euros per share

The Board of Directors is proposing an unchanged dividend for the year compared to the previous dividend of 3.10 euros per share, without taking into account the difficult circumstances since 2020.

Register free of charge for uninterrupted access.

Publicite

Latest news

Eos Energy signs 5 GWh storage deal with Frontier Power in the United Kingdom
Atrato Onsite Energy secures £250mn from Barclays to fund solar rollout in the UK
Amplify Energy revises merger agreement with Juniper Capital, secures additional $10 mn
Enertech and Dandelion launch 1,500 residential geothermal systems in the western United States
Matrix Renewables commissions Idaho’s largest solar power plant

Recently published in

Rice and ExxonMobil launch strategic collaboration in sustainable energy research

A master agreement between ExxonMobil and Rice University initiates a series of joint energy research projects focused on technological innovation in water treatment and resource recovery.
SBM Offshore secures USD1.1bn from 13 banks to refinance debt
Dutch group SBM Offshore has secured a new USD1.1bn revolving credit facility from an international banking consortium, extending and enlarging a previous financing agreement.
en_1140290950540-6
SBM Offshore secures USD1.1bn from 13 banks to refinance debt
Dutch group SBM Offshore has secured a new USD1.1bn revolving credit facility from an international banking consortium, extending and enlarging a previous financing agreement.
en_1140290950540-6
Equinor creates new division to consolidate flexible and renewable energy assets
Equinor restructures operations to enhance earnings in growing power markets by merging its renewables and flexible generation assets into a single business unit.
en_1140290983540
Equinor creates new division to consolidate flexible and renewable energy assets
Equinor restructures operations to enhance earnings in growing power markets by merging its renewables and flexible generation assets into a single business unit.
en_1140290983540
Data centre electricity demand driven by AI expected to double by 2030
According to the International Energy Agency, artificial intelligence will drive a global rise in data centre electricity consumption, reaching the current level of Japan’s national use by the end of the decade.
en_1140290985540
Data centre electricity demand driven by AI expected to double by 2030
According to the International Energy Agency, artificial intelligence will drive a global rise in data centre electricity consumption, reaching the current level of Japan’s national use by the end of the decade.
en_1140290985540

Sinopec and Aramco strengthen their alliance for the Yanbu complex expansion

Sinopec and Saudi Aramco have signed a framework agreement to expand the Yanbu complex, aiming to establish an integrated refining and petrochemical platform with high industrial capacity.
Fusion Fuel targets UK with £50mn acquisition in fuel distribution
Fusion Fuel has signed a letter of intent to acquire a UK-based fuel distribution company valued at £50mn, as part of its strategy to expand its presence across the energy value chain.
en_1140290946540-6
Fusion Fuel targets UK with £50mn acquisition in fuel distribution
Fusion Fuel has signed a letter of intent to acquire a UK-based fuel distribution company valued at £50mn, as part of its strategy to expand its presence across the energy value chain.
en_1140290946540-6
SBM Offshore sells FPSO Cidade de Paraty in $400 million leaseback deal
SBM Offshore finalises a non-recourse leaseback agreement worth $400 million for FPSO Cidade de Paraty, transferring ownership to a consortium of Chinese lessors for an eight-year period.
en_1140290954540-5
SBM Offshore sells FPSO Cidade de Paraty in $400 million leaseback deal
SBM Offshore finalises a non-recourse leaseback agreement worth $400 million for FPSO Cidade de Paraty, transferring ownership to a consortium of Chinese lessors for an eight-year period.
en_1140290954540-5
Viridien secures 2,400 km² seismic reprocessing contract in Algeria with Sonatrach and PTTEP
Viridien will reprocess two 3D seismic datasets in the Berkine Basin for the Hassi Bir Rekaiz consortium over a 13-month period.
en_1140290970540
Viridien secures 2,400 km² seismic reprocessing contract in Algeria with Sonatrach and PTTEP
Viridien will reprocess two 3D seismic datasets in the Berkine Basin for the Hassi Bir Rekaiz consortium over a 13-month period.
en_1140290970540

Copper producers bet on growth as investment strategies diverge

Mining companies are turning to copper production to drive growth from 2025, marking a strategic shift in capital allocation, according to Wood Mackenzie.
Autoliv secures energy supply with two European renewable contracts
Swedish manufacturer Autoliv signs two 12-year renewable power purchase agreements with Alight and Eurowind Energy to ensure stable supply and anticipate volatility in European energy markets.
en_1140290944540-4
Autoliv secures energy supply with two European renewable contracts
Swedish manufacturer Autoliv signs two 12-year renewable power purchase agreements with Alight and Eurowind Energy to ensure stable supply and anticipate volatility in European energy markets.
en_1140290944540-4
Avangrid bets on advanced technologies to modernise American energy grids
Avangrid brought together over 150 energy stakeholders in Cambridge during its annual forum to accelerate the development of technological solutions involving artificial intelligence, storage, and infrastructure resilience.
en_1140290949540-4
Avangrid bets on advanced technologies to modernise American energy grids
Avangrid brought together over 150 energy stakeholders in Cambridge during its annual forum to accelerate the development of technological solutions involving artificial intelligence, storage, and infrastructure resilience.
en_1140290949540-4
BP initiates succession of chairman Helge Lund ahead of expected 2026 departure
British oil group BP has confirmed the planned departure of its chairman of the board Helge Lund, launching a transition process expected to conclude in 2026.
en_1140290948540-4
BP initiates succession of chairman Helge Lund ahead of expected 2026 departure
British oil group BP has confirmed the planned departure of its chairman of the board Helge Lund, launching a transition process expected to conclude in 2026.
en_1140290948540-4

ExxonMobil appoints Matt Crocker as head of its Product Solutions division

ExxonMobil has announced the upcoming retirement of Karen McKee and the appointment of Matt Crocker as president of the Product Solutions division, marking a key change in the group’s governance effective 1 May 2025.
The French PPA market reaches 2 GW led by photovoltaic dominance
France now counts over 100 long-term electricity purchase agreements, totalling 2 GW, mainly driven by the rise of photovoltaics and the expansion of hybrid and multi-buyer models.
en_1140291022540
The French PPA market reaches 2 GW led by photovoltaic dominance
France now counts over 100 long-term electricity purchase agreements, totalling 2 GW, mainly driven by the rise of photovoltaics and the expansion of hybrid and multi-buyer models.
en_1140291022540
Repsol sells 49% stake in Spanish wind and solar portfolio to Schroders Greencoat
UK-based manager Schroders Greencoat acquires a minority stake in ten Repsol renewable assets in Spain, valued at €580mn, reinforcing its investment strategy in the European energy transition.
en_1140291013540
Repsol sells 49% stake in Spanish wind and solar portfolio to Schroders Greencoat
UK-based manager Schroders Greencoat acquires a minority stake in ten Repsol renewable assets in Spain, valued at €580mn, reinforcing its investment strategy in the European energy transition.
en_1140291013540
Plenitude finalises EIP’s 10% stake acquisition through €800mn capital injection
Swiss fund Energy Infrastructure Partners increases its stake in Plenitude to 10% after a total €800mn investment, confirming a post-transaction equity valuation of €8bn.
en_1140291003540
Plenitude finalises EIP’s 10% stake acquisition through €800mn capital injection
Swiss fund Energy Infrastructure Partners increases its stake in Plenitude to 10% after a total €800mn investment, confirming a post-transaction equity valuation of €8bn.
en_1140291003540

TotalEnergies strengthens its global portfolio with three renewable acquisitions

TotalEnergies has completed strategic acquisitions in the wind, solar and hydropower sectors across Europe, Africa and Canada, thereby reinforcing its integrated power business in several key markets.
Trinasolar ISBU secures 30 MW solar deal with Equinix in Japan
Trinasolar ISBU will supply solar electricity to Equinix for 20 years through an agreement centred on the 30 MW Yufutsu Abira project in Hokkaidō Prefecture.
en_1140290952540-2
Trinasolar ISBU secures 30 MW solar deal with Equinix in Japan
Trinasolar ISBU will supply solar electricity to Equinix for 20 years through an agreement centred on the 30 MW Yufutsu Abira project in Hokkaidō Prefecture.
en_1140290952540-2
TerraForm Power settles $34.5mn lawsuit with former executive after nine-year litigation
TerraForm Power reached a $34.5mn court settlement with its former chairman Carlos Domenech, nine years after his dismissal, ending a case tied to SunEdison's financial management.
en_1140290946540
TerraForm Power settles $34.5mn lawsuit with former executive after nine-year litigation
TerraForm Power reached a $34.5mn court settlement with its former chairman Carlos Domenech, nine years after his dismissal, ending a case tied to SunEdison's financial management.
en_1140290946540
Sinopec reports USD 6.74 bn net profit and 75% payout ratio
Chinese group Sinopec reported annual revenue of CNY 3,070 bn and net profit of CNY 48.94 bn, achieving record performance across its oil, gas and chemical segments.
en_1140290945540
Sinopec reports USD 6.74 bn net profit and 75% payout ratio
Chinese group Sinopec reported annual revenue of CNY 3,070 bn and net profit of CNY 48.94 bn, achieving record performance across its oil, gas and chemical segments.
en_1140290945540

Eesti Energia launches €200mn takeover bid to regain control of Enefit Green

Estonian state-owned energy group Eesti Energia plans to acquire all shares in its subsidiary Enefit Green in a voluntary takeover bid worth over €200mn, set to begin on April 8.
The European Union integrates Orano’s battery recycling project into its industrial strategy
Orano's French hydrometallurgy project has been designated as strategic by the European Commission under the Critical Raw Materials Act, aimed at securing the supply of critical raw materials.
en_1140290951540-21
The European Union integrates Orano’s battery recycling project into its industrial strategy
Orano's French hydrometallurgy project has been designated as strategic by the European Commission under the Critical Raw Materials Act, aimed at securing the supply of critical raw materials.
en_1140290951540-21
TotalEnergies cuts emissions by 2.9% in 2024 and stays on course
TotalEnergies reported a 2.9% drop in emissions for 2024, reaffirming its climate strategy ahead of a key general meeting.
en_1140290958540-20
TotalEnergies cuts emissions by 2.9% in 2024 and stays on course
TotalEnergies reported a 2.9% drop in emissions for 2024, reaffirming its climate strategy ahead of a key general meeting.
en_1140290958540-20
Shell selects McDermott for three-year global framework agreement in engineering
Shell Global Solutions International B.V. has awarded McDermott a three-year framework agreement for engineering, procurement and project management services across several strategic markets.
en_1140290956540-19
Shell selects McDermott for three-year global framework agreement in engineering
Shell Global Solutions International B.V. has awarded McDermott a three-year framework agreement for engineering, procurement and project management services across several strategic markets.
en_1140290956540-19

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS