Gaztransport & Technigaz Sa · EURONEXT:GTT
Gaztransport & Technigaz Sa — H1 2026 Earnings Presentation
36 slides from Gaztransport & Technigaz Sa's earnings presentation, Jul 29, 2026
Slide 1: H1 2026 Results
H1 2026 Results 29 July 2026
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: Agenda
Agenda 01 02 03 04 05 Key GTT Energy GTT Marine Financials Outlook & Figures Conclusion 3
Slide 4: Key figures
1 Key figures
Slide 5: H1 2026 Key figures
H1 2026 Key figures 65 New orders Core business* order book of which 56 LNGC 306 units / €1.9 Bn EBITDA €264 M Revenues €387 M EBITDA Margin 68% Net income Interim dividend €210 M €4.30 per share * containement systems to transport and store liquefied gases FY 2025 Results Presentation – 20 February
Slide 6: Energy
2 Energy
Slide 7: GTT Energy: Strong commercial dynamic
GTT Energy: Strong commercial dynamic LNGC orders by quarter 29 56 orders for LNGCs 27 • c.18 tied to FIDs taken in 2025 and 2026 A diversified mix of 65 orders over 18 the period • 56 LNGC • 5 Onshore storage tanks 9 9 • 2 VLEC • 1 FLNG • 1 FSRU 1 Q1 Q2 Q3 Q4 Q1 Q2 2025 2026 H1 2026 Results Present
Slide 8: GTT Energy: continued momentum for FIDs
GTT Energy: continued momentum for FiDs VOLUME Contracted Start LNG PROJECT * COUNTRY OPERATOR (Mtpa) (SPA) date FIDs in 2025 10 Projects Mainly USA East -- 84 Mtpa -- ‘27 to ‘31 Qatar North Field West Qatar Qatar Energy 16 2033 CP2 Phase 2 USA East Venture Global c.7 2028 37 FIDs in 2026 Commonweal
Slide 9: GTT Energy: the uncertain situation in the Middle East is not disrupting LNG market fundamentals
GTT Energy: the uncertain situation in the Middle East is not disrupting LNG market fundamentals LNG PRODUCTION CAPACITY Short term effects are not affecting long-term fundamentals BY GEOGRAPHY (Mtpa) • 3% of LNG capacity production damaged, 20% of total supply currently unavailable • Increase of sh
Slide 10: GTT Energy: Long term LNG demand revised upwards
GTT Energy: Long term LNG demand revised upwards Long term LNG supply/demand forecasts keep increasing Wood Mackenzie Q2 26 CAGR 2026-2035: c.5% Q1 25 in dotted line in central scenarios +50 Mtpa Shell c.80% of LNG demand increase to Q2 26 Q1 25 in dotted line come from Asia Growing need in MENA reg
Slide 11: GTT Energy: Gas and LNG growing in the energy mix
GTT Energy: Gas and LNG growing in the energy mix EVOLUTION OF GLOBAL ENERGY MIX ASIAN ENERGY MIX 2025 & 2050 2025 1% 3% 9% 11% 40% 4% Asia still represents c.85% 4% of worldwide coal demand 8% 35% 20% 30% 26% 9% Gas 7% 25% Oil 20% 22% Wind & Solar 15% Coal 47% Hydro & Bioenergy 10% 29% (Gas of whic
Slide 12: Long term estimates for GTT orders
Long term estimates for GTT orders ESTIMATED GTT CUMULATED ORDERS OVER 2026-2035 LNGC c.550 units ULEC/VLEC Between 25 & 40 units FSRU Up to 10 units(1) FLNG Up to 10 units Onshore tanks c.30 units (1) Exclude conversion of existing LNG carriers into FSRU H1 2026 Results Presentation – 29 July 2026
Slide 13: GTT Energy: shipyard capacity continues to expand
GTT Energy: shipyard capacity continues to expand SHIPYARDS’ LNGC SLOTS 100+ Korean and Chinese shipyards continue to increase capacity c.90 • Strong ambitions with new docks in China • Korea largely focusing on LNGCs c.70 c.55 GTT is engaging with other countries willing to set up LNGC production o
Slide 14: GTT Energy: first orders secured for new 3-tank design
GTT Energy: first orders secured for new 3-tank design World’s first LNGCs with 3-tank Lower maintenance expenditures configuration • 4 orders by BW LNG Improved filling range through optimised local reinforcements • To be built by HD Korea Shipbuilding & Offshore Engineering (HD KSOE1) • Deliveries
Slide 15: GTT Energy: Delfin FLNG 1, first US FLNG
GTT Energy: Delfin FLNG 1, first US FLNG World’s largest production capacity Delfin FLNG 1 4.4 Mtpa 180k m3 of capacity • 1st FLNG ordered for the USA 8 tanks in 2 rows • 8th FLNG with GTT’s membrane technology World’s largest FLNG by production capacity Suitable for demanding • 4.4 Mtpa of LNG prod
Slide 16: GTT Energy: overview of GTT's GST membrane
GTT Energy : overview of GTT’s GST membrane Compelling advantages vs traditional onshore storage tank solutions • Compatible with LNG, Ethane and Ammonia • Allows for tanks exceeding 300,000 m³ GTT’s robust track record • +10% to +25%¹ additional net volume in the same concrete envelope • 40+ LNG on
Slide 17: Marine
Gi 1 Marine
Slide 18: GTT Marine: H1 '26 key figures
GTT Marine: H1 ’26 key figures Integration: Key figures: • On track, unified software platform concept presented at Posidonia 2026 H1 2026 Revenue €31.8 M Key software & hardware contract won: • 3-year commitment • Suite of solutions including data collection, performance, voyage optimisation and LN
Slide 19: Financials
4 Financials
Slide 20: H1 2026 orderbook highlighting continuum of strong order momentum
H1 2026 orderbook highlighting continuum of strong order momentum Order book Dec. 2025 H1 2026 new orders H1 2026 deliveries Order book June 2026 LNGC 261 +56 (45) 272 VLEC/ULEC 21 +2 (1) 22 FSRU 3 +1 (1) 3 FLNG 3 +1 - 4 Onshore - +5 - 5 GTT order book movements +65 (47) (core business) 306 288 Orde
Slide 21: Core business Orderbook: €1.9 Bn of secured revenues
Core business(1) Orderbook: €1.9 Bn of secured revenues ORDER BOOK BY YEAR OF DELIVERY (UNITS PER YEAR) In units As at June 2025 As at June. 2026 94 97 98 90 89 The core business orderbook 69 stands at 306 units, split as such: 50 40 (2) 26 ➢ 272 LNG carriers 47 ➢ 22 VLEC/ULEC 2026 2027 2028 ≥2029 ➢
Slide 22: H1 2026: Consolidated Revenue
H1 2026: Consolidated Revenue in €m H1 2026 H1 2025 Change (%) GTT Energy: -6% YoY Total revenue 387.3 388.7 -0.4% Newbuilds revenue: -6% YoY • Mostly linked to LNGC and Ethane carriers GTT Energy 355.5 376.8 -5.7% (-7%), with less LNGC under construction, partly Newbuilds 344.7 364.8 -5.5% compensa
Slide 23: H1 2026: Financial Performance
H1 2026: Financial Performance EBITDA flat YoY SUMMARY CONSOLIDATED ACCOUNTS • 68.1% margin representing €264m in €m H1 2026 H1 2025 Change (%) − GTT Energy EBITDA at €264.3m − GTT Marine EBITDA at €5.7m Total Revenues 387.3 388.7 -0.4% − Hydrogen (Elogen) EBITDA at €-6.4m EBITDA 263.6 264.5 -0.3% •
Slide 24: Outlook & Conclusion
5 Outlook & Conclusion
Slide 25: 2026 Outlook
2026 Outlook Revenues(1) • 2026 to be compared with a high base of 2025 (effect of 2022 orders peak) 2026 consolidated revenue estimated in a • 2026 activity impacted by the temporary slowdown of range of €740M to €780M order entries in the first half of 2025 EBITDA • Implied EBITDA margin at a top
Slide 26: Key take-aways
Key take-aways Solid commercial dynamic and solid results • 65 orders secured over the period • Order book on record levels (€1.9bn) • €387 M revenue • €264 M EBITDA, EBITDA margin at 68.1% Strong LNG demand fundamentals • Forecast revised upwards to support energy security and meet growing energy n
Slide 27: Q&A
Q&A 27
Slide 28: Appendices
Appendices
Slide 29: GTT Marine: major contract in H1 2026
GTT Marine: major contract in H1 2026 3-year commitment Key software Suite of solutions including data collection, performance, voyage PETRONAS & hardware optimisation and LNG software specific to Petronas’ LNGC chartered LNGC contract chartered fleet fleet Fundamental bricks for GTT energy software
Slide 30: Continued momentum for FIDs, led by the US
Continued momentum for FIDs, led by the US FID volume by country1, Mtpa 84 After 84 Mtpa decided in 2025, a total of 37 Mtpa new liquefaction 56 capacity has reached FID this 61 year 39 37 37 32 37 Of which 21 Mtpa in the USA 29 31 27 • CP2 Phase 2 Yearly average 23 23 9 21 21 • Commonwealth LNG 25
Slide 31: Continuous improvement of Boil-off rate
Continuous improvement of Boil-off rate Boil-off rate of GTT technologies(1) 0.15% 0.15% Boil-off rate (%/d) 0.125% 0.10% Enabling better 0.085% 0.085% energy efficiency 0.07% 0.07% by halving boil-off rate in a decade Mark III Mark III Mark III NO96 NO96GW NO96 NO96 GTT Flex Flex+ L03+ Super+ Next1
Slide 32: Innovation GTT NEXT1 brings reliability and performance to the next level
Innovation GTT NEXT1 brings reliability and performance to the next level Benefits for GTT stakeholders: Stainless Steel corrugated Primary Membrane (same as MarkIII) Invar Secondary Membrane • For charterers: lower consumption and optimum compatibility (same as NO96) to new systems or alternative f
Slide 33: GTT Strategic Ventures: Investing in a sustainable world
GTT Strategic Ventures: Investing in a sustainable world Q3 22 Q4 22 Q3 23 Q2 24 Q2 24 Developer of an Finnish specialist in Norwegian specialist in French designer of automated wind- management of Cargo Cryogenics expert and multi-gas & emission an energy assisted propulsion and maritime fleets lea
Slide 34: An attractive business model supporting high cash generation
An attractive business model supporting high cash generation INVOICING AND REVENUE RECOGNITION % of contract (1) 10000 c. 9 to12 months studies c. 18 months royalties Delivery Business model supports high cash generation • Contracts with shipyards are in Euros 8000 Ship • Revenue is recognized pro-r
Slide 35: Glossary
Glossary The following abbreviations have been used throughout this document BOR Boil Off Rate FSU Floating Storage Unit MEGI M-type, Electronically Controlled Gas Injection APAC Asia-Pacific GBS Gravity Based Structure Mtpa Million tons per annum CAGR Compound Annual Growth Rate GHG Greenhouse Gase
Slide 36: Contacts
CONTACTS GTT is a technology and engineering group with expertise in the design and development of Investor relations contact: cryogenic membrane containment systems for use in the transport and storage of liquefied information-financiere@gtt.fr gases. Over the past 60 years, the GTT Group has desig
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