In This Article:
-
Revenue: EUR641 million, a 50% increase compared to 2023.
-
EBITDA: EUR388 million, a 65% increase compared to 2023.
-
Free Cash Flow: EUR338 million, a 54% increase compared to the previous year.
-
Dividend Proposal: EUR7.5 per share, an 80% increase compared to the previous year.
-
Order Book: Core business order book at EUR1.9 billion with 332 units.
-
EBITDA Margin: 61% in 2024, up from 55% in 2023.
-
Digital Activities Revenue: EUR16 million, an 85% increase compared to last year.
-
Electrolysers Revenue: EUR11 million in 2024.
-
Guidance for 2025 Revenue: Expected between EUR750 million and EUR800 million.
-
Guidance for 2025 EBITDA: Expected between EUR490 million and EUR540 million.
Release Date: February 21, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
-
Gaztransport et technigaz SA (GZPZY) reported a significant increase in revenues, amounting to EUR641 million in 2024, a 50% rise compared to 2023.
-
The company's EBITDA increased by 65% to EUR388 million, showcasing strong operational performance.
-
Free cash flow saw a substantial increase of 54%, reaching EUR338 million, indicating robust financial health.
-
The company plans to propose a dividend of EUR7.5 per share, an 80% increase from the previous year, reflecting strong shareholder returns.
-
Gaztransport et technigaz SA (GZPZY) has a strong order book with 332 units, including 306 LNG carriers, indicating a healthy pipeline of future business.
Negative Points
-
The company reported an EBITDA loss of EUR33.3 million for its Elogen division, highlighting challenges in this segment.
-
There is uncertainty regarding the timeline for the first sales of new technologies, such as the GTT next one, which may take up to two years.
-
The hydrogen transportation market is developing slower than expected, potentially delaying future orders for hydrogen carriers.
-
The company faces competition from alternative technologies like Type B and Type C tanks, which may impact its market share in LNG-as-a-fuel.
-
There are concerns about the protection of intellectual property, especially with the expansion of shipbuilding activities in Chinese shipyards.
Q & A Highlights
Q: When do you expect to have your first sales of the new technologies, such as GTT Next and the 200,000 LNG Carriers? A: Philippe Berterottiere, CEO, stated that the marketing for GTT Next has begun, and the first order is expected within the next two years. The 200,000 LNG Carriers, being an evolution of existing designs, could see orders within the next 12 months.