Gaztransport & Technigaz Sa · EURONEXT:GTT
Gaztransport & Technigaz Sa — Q3 2022 Earnings Presentation
15 slides from Gaztransport & Technigaz Sa's earnings presentation, Oct 27, 2022
Slide 1: Q3 2022 Activity Update
Q3 2022 Activity Update TECHNOLOGY FOR A SUSTAINABLE WORLD 1 27•10•2022
Slide 2: Disclaimer
DISCLAIMER This presentation does not contain or constitute an offer of securities for sale or an invitation or inducement to invest in securities in France, the United States or any other jurisdiction. It includes only summary information and does not purport to be comprehensive. No representation,
Slide 3: Q3 2022 Key highlights
Q3 2022 Key highlights Orders and revenues Innovation • Core business: 134 LNGCs ordered in 9M 2022 New milestones achieved in Q3: • LNG as fuel: 42 orders in 9M 2022 • AiPs for the containment system and the basic design of a LH2 vessel • 9M 2022 revenues: €222.0 million, -7.5% Q3 2022 revenues: €7
Slide 4: 9M 2022 orderbook: a new record of orders
9M 2022 orderbook: a new record of orders Order book FY 2021 Sept. 2022 new orders Sept. 2022 deliveries Order book 30 Sept. 2022 LNGC 137 +134 (21) 250 VLEC 6 - (4) 2 FSRU 0 - - 0 FSU 2 - - 2 FLNG 1 - (1) 0 Onshore Storage 12 - - 12 GBS 3 - - 3 134 (26) GTT order book movements ** (core business) 2
Slide 5: LNG demand: strongly rising in Europe
LNG demand: strongly rising in Europe European volumes to increase by 55% in 2022 2021-22 EXPECTED LNG DEMAND EVOLUTION • To substitute Russian piped gas • Mainly fed by rerouting of Chinese volumes / new 140 LNG supply +42 120 100 Chinese volumes decreasing in 2022, but mid -16 80 +1 term outlook r
Slide 6: LNG contracting: activity remains strong in Q3, supported by European demand
LNG contracting: activity remains strong in Q3, supported by European demand LT SPA (>10Y) SIGNED LT SPA SIGNED IN 2022 BY DESTINATION Mtpa 47 Mtpa Mtpa 25 in 9M 22 20 Europe; 6 15 10 Portfolio/Trader; 24 China; 13 5 0 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2
Slide 7: LNG supply & demand: new capacity required
LNG supply & demand: new capacity required LNG SUPPLY & DEMAND BALANCE FORECAST LNG consumption should strongly 800 increase by the end of the decade 700 CAGR 2022-30: +4.6% 600 ~275 Mtpa 500 Still more FIDs(1) required in the Mtpa 400 300 next 3-4 years to fill the coming gap 200 100 0 Supply - Ope
Slide 8: LNG supply: numerous ongoing projects mainly in the US
LNG supply: numerous ongoing projects mainly in the US PROJECT COUNTRY OPERATOR VOLUME (Mtpa) Contracted (SPA) Comments Plaquemines Phase 1 US Venture Global 13 FID in Q2 22 FID(1) in 2022 Corpus Christi Stage III US Cheniere 10 FID in Q2 22 Plaquemines Phase 2 US Venture Global 7 70% Lake Charles U
Slide 9: Dynamic 9M 2022 order intake of LNG fuelled vessels
Dynamic 9M 2022 order intake of LNG fuelled vessels 9M 2022: strong demand for LNG-fuelled 7K + TEU CONTAINERSHIP ORDERS 7K+ containership 100 70% 90 • Increasing market share of LNG fuel up to 62% # 7k+ TEU LNG fuelled orders 60% 80 LNG fuel Market share 70 50% • GTT market share of nearly 50% on L
Slide 10: Innovation: new AiPs reinforcing the attractiveness of GTT solutions
Innovation: new AiPs reinforcing the attractiveness of GTT solutions MULTI-FUEL DIGITAL SOLUTIONS LNGCS ● AiP from Bureau Veritas for the design ● AiP from Lloyd’s Register for the new ● 2 AiPs from Bureau Veritas and DNV for of a LNG-fuelled & “NH3 ready” Very “POWER” digital solution a 174k m3 thr
Slide 11: Elogen: €86m State support confirms relevance of Elogen's positioning
Elogen: €86m State support confirms relevance of Elogen's positioning Final validation in Hy2Tech IPCEI process Elogen’s project consists in: • increasing the intensity of its R&D to develop innovative stacks of PEM electrolysers as well as their components • the construction and start-up of a Gigaf
Slide 12: 9M 2022 Consolidated Revenues
9M 2022 Consolidated Revenues SUMMARY FINANCIALS KEY HIGHLIGHTS in €M 9M 2021 9M 2022 Change 9M revenues in line with expectations, Q3 2022 revenue growth (+4.1% vs Q3 21) Total Revenues 240.0 222.0 -7.5% • 9M 2022 revenues from newbuilds (royalties): Newbuilds 224.3 200.4 -10.7% • €200.4 million, -
Slide 13: Update on GTT Russian exposure
Update on GTT Russian exposure Projects being built in Russia Projects dedicated specifically to LNGC projects for Russia, Arctic conditions, built in Asia built in Asia, able to operate • 15 ice-breaking LNGCs (Zvezda) in all types of conditions • 3 GBS (Saren B.V.(1) for Arctic LNG 2 • 6 ice-break
Slide 14: 2022 Outlook confirmed
2022 Outlook confirmed On February 17, 2022, the Group published the following outlook for 2022: 2022 consolidated revenue estimated in a range of Taking into account some delays in ships Revenue €290M to €320M construction schedules during the first nine months of the year, the Group confirms targe
Slide 15: Q3 2022 Activity update – 27/10/2022
15 Q3 2022 Activity update – 27/10/2022
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