GTT : Full Year 2025 Results – Strong growth in revenues ( +25 %) and EBITDA ( +40 %) for the third consecutive year

hellenicshippingnews.com · Feb 20, 2026 · Collected from GDELT

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GTT, the technological expert in membrane containment systems used to transport and store liquefied gases, today announces its results for the 2025 financial year. Highlights 45 orders received during the financial year, including 37 orders for LNG carriers, of which 18 in the fourth quarter Order book with 288 units for the core business and 48 units for the LNG as fuel business Record number of final investment decisions in new LNG trains (84 Mtpa) in 2025, expected to lead to a significant increase in the need for new LNG carriers Acceleration and change of scale in the field of marine and digital solutions with the acquisition of Danelec Refocusing of Elogen’s business model and implementation of measures planned as part of the strategic review 2026 guidance: 2026 consolidated revenues between €740 M and €780 M; 2026 consolidated EBITDA between €490 M and €530 M; Dividend policy maintained. Commenting on the results, François Michel, Chief Executive Officer of GTT, said: “GTT is building on the global momentum for liquefied natural gas and posted a record financial performance in 2025 for the third consecutive year. After a period of uncertainty related to the international context that negatively impacted the first part of the year, the fundamentals of LNG demand led to a record volume of investment decisions for new liquefaction units, thus increasing visibility on our growth potential. The strong upturn in LNG carrier orders during the fourth quarter of 2025 and at the beginning of 2026 to meet the rise in LNG demand reaffirmed GTT’s central role in this value chain. We will continue to pay particular attention to the evolving needs of our customers and stakeholders in the energy and maritime transportation industry. The combination of this position and our expertise forms the basis of our innovation strategy, the achievements of which were again recognised by several classification societies throughout the year. The Group has also continued to invest in advanced technologies. Our maritime and digital division was strengthened through the acquisition of Danelec in late July. We are thus expanding our service platform, enabling ship-owners and charterers to benefit from our expertise and assistance to best optimise the operation of their fleet. In financial terms, GTT posted an increase in revenues of 25%. This performance is the result of the particularly significant level of orders received in 2022 and 2023 and the continued commitment of the GTT teams, to whom I would like to give special thanks. EBITDA showed a sharp increase of 40%, confirming the Group’s discipline in terms of cost control and its ability to ensure the profitability of its business”. Group business activity in 2025 Containment systems and services to operations – LNG carriers and ethane carriers: solid performance in a mixed environment in 2025 Following three record years in terms of order intake, and in an uncertain geopolitical environment, GTT achieved a solid commercial performance in its core business over the financial year 2025, with 37 LNG carrier orders and seven very large ethane carrier (VLEC) orders. This momentum confirms the resilience of global demand for LNG transport, supported by massive investment decisions in new liquefaction projects. Delivery of these 37 LNG carriers is scheduled for between 2027 and 2031. Notably, among these 37 LNG carrier orders, six are for ultra-large vessels (271,000 m³ compared with the standard 174,000 m³), placed with the Chinese shipyard Hudong-Zhonghua. These vessels will be fitted with GTT’s NO96 Super+ membrane containment system. The seven VLECs ordered will each offer a total capacity of 100,000 m³, the largest to date for this type of vessel, and will feature GTT’s Mark III membrane containment system. Delivery of these ethane carriers will take place in 2027 and 2028, confirming the growing strength of the ethane market, driven by the expansion of global petrochemicals. Over the period, GTT also received an order for the design of the tanks for one Floating Liquefied Natural Gas unit (FLNG) with a total capacity of 238,700 m³. Ordered by Samsung Heavy Industries, this vessel will be deployed in Africa. In addition, since the beginning of 2026, GTT has announced 14 orders for LNG carriers, four of which have a capacity of 200,000 m3, as well as two orders for VLECs, confirming the momentum seen at the end of the previous year. – LNG as fuel: improving performance in a buoyant market In 2025, GTT recorded a total of 18 orders for the design of cryogenic tanks for new LNG-powered container vessels, up from the 13 orders received in 2024. Among the orders reported in 2025, 12 tanks with a unit capacity of 12,750 m3 were ordered by the Korean shipyard HD Hyundai Heavy Industries and six cryogenic tanks with a unit capacity of 8,000 m3 were ordered by HD Korea Shipbuilding & Offshore Engineering. These LNG tanks will all be fitted with GTT’s Mark III Flex membrane containment system, together with the “1 barg”1 design, which enables an operating pressure of 1 barg, compared to 0.7 barg previously. This technical innovation addresses forthcoming regulations requiring cold ironing at quayside, confirming its added value for the maritime industry. The vessels will be delivered between the second quarter of 2027 and the fourth quarter of 2028. In the third quarter of 2025, GTT also received an order from Hudong-Zhonghua Shipbuilding Co. Ltd. for the design of tanks for an LNG bunker vessel with a total capacity of 18,600 m³, scheduled for delivery in the first quarter of 2028. – Services for vessels equipped with membrane containment systems Revenues from the services business were maintained at 23 million euros in 2025 (compared to 23.3 million euros in 2024), with the decline in pre-project studies, which are intermittent by nature, being offset by the growth in supplier approvals. These approvals related, in particular, to Chinese shipyard suppliers supporting LNG carrier construction and the structuring of the local supply chain. Marine and digital solutions: a change of scale and a strengthened value proposition The acquisition of Danish company Danelec, a major player in the collection and analysis of maritime data, significantly enhances GTT’s digital offering. Completed on July 31, 2025, this transaction enables GTT to respond more broadly to the needs of ship-owners by now offering products and services aimed at optimising vessel performance and strengthening fleet safety, as well as dedicated applications to players in the LNG value chain. The Group is now the global leader in vessel performance management and has joined the top tier of players in the critical Voyage Data Recorders (VDR) segment, now covering 15%2 of the global fleet. The integration of Danelec, started in August 2025, is progressing as planned. Its aim is to accelerate the growth of the Marine and Digital Solutions division through cross-selling, achieving an estimated 25 to 30 million euros in 2030. GTT’s digital solutions (hardware and software) recorded a solid commercial performance, as demonstrated by the signing of several contracts attesting to the added value of the proposed solutions. The TMS group thus selected Ascenz Marorka to equip its entire fleet of more than 130 vessels (oil tankers, bulk carriers, liquefied gas carriers and container ships) with its Smart Shipping solutions. The digital services offering for LNG market players has also been commercially successful:China Merchants Energy Shipping (CMES) chose Ascenz Marorka to equip eight LNG carriers with a complete suite of onboard systems. In addition, the contract signed with Hudong-Zhonghua Shipbuilding, a long-standing GTT partner, to equip 24 LNG carriers with its Sloshield™ system, highlights the strength of GTT’s integrated offering, combining the digital solutions developed within its Digital division with its historical expertise in the design of cryogenic membrane containment systems. The revenues of GTT’s Marine and Digital Solutions division more than doubled in 2025, reaching 36.1 million euros, compared to 15.6 million euros in 2024. As of December 31, 2025, this division now includes the activities of the subsidiaries Ascenz Marorka, VPS and Danelec, since August 2025. Danelec’s contribution over the five months of the financial year 2025 amounts to 16.1 million euros. Elogen: completion of the business refocusing plan Following the conclusions of the strategic review of its subsidiary Elogen, the Group completed the planned restructuring measures announced at the beginning of the year. A redundancy plan was implemented, resulting in the elimination of 110 positions. The construction of the Vendôme gigafactory was also definitively halted. As such, GTT recorded non-current operating expenses of 45 million euros in the first half of 2025. Elogen’s business is now focused on stack research and development at the world’s highest technological level. As of December 31, 2025, Elogen recorded revenues of 4.6 million euros, down -59.6% compared to December 31, 2024. In line with the action plan resulting from the strategic review, Elogen’s EBITDA was brought to -16.1 million euros as of December 31, 2025, compared to -33.3 million euros at the end of 2024. Continued innovation momentum GTT continued its strong momentum in innovation and investments in research and development. The Group thus filed a total of 68 patents in 2025, a level comparable to that of 2024 (66 filings at the Group level). GTT’s ongoing approach of cutting-edge innovation also resulted in several AiPs3 from classification societies granted in the Group’s various areas of expertise: LNG carriers and ethane carriers: Two AiPs from Bureau Veritas for its optimised containment systems for ethane transport, Mark III SlimTM and NO96 SlimTM. These approvals confirm major advantages: increased tank capacity, reduced costs and optimised construction time. At the Gastec