Gaztransport & Technigaz Sa · EURONEXT:GTT
Gaztransport & Technigaz Sa — Q3 2021 Earnings Presentation
16 slides from Gaztransport & Technigaz Sa's earnings presentation, Oct 28, 2021
Slide 1: Investor Presentation Q3 2021 Activity Update
Investor Presentation Q3 2021 Activity Update 28 October 2021
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 YTD 2021 Key Highlights
Q3 YTD 2021 Key Highlights 9M 2021 Revenues in line with expectations: €240 million, -21% vs 9M 2020 peak, +20% vs 9M 2019 Core business: strong order intake Q3: 26 LNGCs 9M: 40 LNGCs, 2 VLECs and 6 onshore storage, delivery dates spread mainly over the 2023-2025 period LNG as fuel picking up Q3: 8
Slide 4: Strong order book at end-Sept. 2021
Strong order book at end-Sept. 2021 LNGC 122 +40 (44) 118 VLEC 9 +2 (5) 6 FSRU 4 - (2) 1* FSU 2 - - 2 FLNG 1 - - 1 Onshore Storage 6 +6 - 12 GBS 3 - - 3 48 (51) GTT order book 147 143 * movements (core business) Order book FY 2020 New orders at Sept.2021 Deliveries at Sept. 2021 Order book at Sept.
Slide 5: LNG Supply & Demand: new capacity required
LNG Supply & Demand: new capacity required LNG Supply & Demand balance forecast 800 700 600 >300 Mtpa 500 Mtpa 400 300 200 100 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2
Slide 6: China leading the LNG demand growth in 2021
China leading the LNG demand growth in 2021 Main LNG importers demand evolution 60 20% +19%/y 18% 50 16% 14% imports (Mtpa) 40 12% +9%/y 30 10% 8% 20 +4%/y 6% 4% 10 2% - 0%/y 0% Japan China S. Korea India Jan Aug 19 Jan - Aug 20 Jan- Aug 21 %CAGR 19-21 Strong LNG import growth in 2021 on post Covid
Slide 7: Current spot LNG prices, calling for more LNG production facilities
Current spot LNG prices, calling for more LNG production facilities Spot LNG prices Spot LNG Asia Spot LNG Europe Sources: Argus. Market currently extremely tense with spot prices at around $30-40/Mmbtu Economic recovery Low storage levels in Europe Plant maintenance + hurricane shutdown in the US N
Slide 8: Spot charter rates also soaring, underlying the lack of LNG Carriers
Spot charter rates also soaring, underlying the lack of LNG Carriers Spot charter rates 1year charter rates 200k 150k MEGI/XDF 100k DFDE 100k ST 50k 0 0 Sources: GTT, Fearnleys Spot charter rates have soared since end 1 year charter rates show a more general of September 2021 trend of shipping short
Slide 9: In spite of context, LNG long-term contracts remain affordable
In spite of context, LNG long-term contracts remain affordable LNG price of new Long term contracts delivered in Asia 18 16 14 12 $/Mmbtu 10 Henry Hub indexed contracts 8 Oil indexed contracts 6 4 2 0 Sources: GTT interpretation of Woodmackenzie contracts database, Argus, EIA 2011 2012 2013 2014 201
Slide 10: 2021: LNG as fuel containerships picking up strongly
2021: LNG as fuel containerships picking up strongly 10k+ TEU containerships orders 40 200 10k+ TEU containerships orders 180 10k+ TEU LNG fueled orders 35 160 30 140 25 120 20 100 15 80 60 10 40 5 20 0 0 Source : Clarksons. 2016 2017 2018 2019 2020 2021 LNG fueled orders incl GTT orders 10kTEU+ ord
Slide 11: Elogen's new milestone
Elogen’s new milestone Elogen is selected by Storengy to equip HyPSTER, the first green hydrogen storage project supported by the European Union Supply of a 1 MW PEM electrolyser which will allow the production of 400 kg of green hydrogen per day Located in Etrez, France, HyPSTER is a large-scale gr
Slide 12: 9M 2021 Consolidated Revenues
9M 2021 Consolidated Revenues Summary financials Key highlights Change in €M 9M 2020 9M 2021 (%) Total revenues in line with expectations: Revenues 305.6 240.0 -21.5% €240 million (-21% vs 2020, +20% vs 2019) Newbuilds 295.4 224.3 -24.1% % of revenues 97% 94% Newbuilds (royalties):-24% vs 2020 peak
Slide 13: FY 2021 Outlook confirmed
FY 2021 Outlook confirmed GTT revenue(1) 2021 consolidated revenue estimated in a range of €285M to €315M EBITDA 2021 consolidated EBITDA estimated in a range of €150M to €170M Dividend 2021 payout of at least 80% Payment(2) (1) In the absence of any significant delays (2) Subject to approval of Sha
Slide 14: Appendix
GIT Appendix
Slide 15: GTT's strategic roadmap
GTT’s strategic roadmap Technology for a 6. Transformation Hydrogen value chain sustainable world: towards a low Hydrogen carbon future Electrolysers Gas handling technologies Evolution of 2. Improvement GTT systems: NO96 Super+ 1. Intensification Mark III Flex+ 5. Enlargement Offshore Multigas GBS
Slide 16: Contact
Contact: information-financiere@gtt.fr / +33 1 30 23 20 87
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