Gaztransport & Technigaz S.A. (GZPZY) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone. I am very pleased to welcome you all here in Paris and online today for GTC's activity update for the first half of 2026. I am here with Thierry Ochoa, our CFO, and together... S.A. An important figure, of course, for this first half of 2026 is the 65 new orders that we have recorded over the first half of the year, including 56 new LNG carriers, which is very much in line with what we expected the last time we spoke. Second, despite the high pace of deliveries, the sustained commercial momentum led to an increase of our order book amounting to a very high level of 1.9 billion euros on June 30th, amongst the very highest level in the history of the company. Revenue came in as expected at €387 million, EBITDA at €264 million, the EBITDA margin is good, 68.1%, and net income is at €210 million. In view of this performance, the Board of Directors has approved the payment of an interim dividend of €4.30 per share. Now, looking back at the commercial dynamics of GTT Energy, as I was saying, the first half of 2026 is very much in line with our expectations. It contrasts with H1 2025 in several aspects. First, of course, the 56 new LNG carrier orders in the first half versus only 10 in H1 2025. And an important point is that only 18 of those 56 orders are tied to FIDs taken in 25 and in 26. Second, another very good point, we announced orders for LNG-related infrastructure, five onshore tanks, one FLNG and one FSRU, I expect more, which confirms that our membrane technology is... equally well suited for complex projects and onshore applications. Those are key areas for growth in the coming years, as you know, in addition to our core of LNG-C construction, and I will come back to this point later in the presentation. On the FID front, as you know, the...