GTT: share price rises, strong growth in 1st half

(CercleFinance.com) - GTT shares rose sharply on Friday morning on the Paris Stock Exchange, following the announcement of strong growth in sales and earnings for the first half of the year, accompanied by sustained order intake.


The French engineering group, specializing in transportation systems for liquefied gases, reported sales of €295 million for the first six months of the year, up 66% year-on-year.

Operating income before non-recurring items (Ebitda) jumped by 70% to 177 million euros.

Net income for the period came to 170.3 million euros, compared with 84 million euros in the first half of 2023, an increase of 102.7%.

In its press release, the company also reports a "very high" level of orders, including 52 LNG carriers and four large-capacity ethane tankers ordered in the 1st half.

For 2024, GTT confirms that it is targeting sales in the range of 600 to 640 million euros, with an Ebitda of between 345 and 385 million euros.

The company also plans to distribute a dividend for 2024 corresponding to a minimum payout ratio of 80% of consolidated net income9.

Its interim dividend stands at 3.67 euros per share, up 98% on the 2023 interim dividend, in line with the increase in net income.

On the Paris Bourse, the GTT share gained over 3% on Friday morning following these announcements, bringing its gains since the start of the year to over 11%.

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