GTT kept its 2026 financial targets after nine-month revenue fell 4.9%, as fewer LNG carriers under construction weighed on current activity while a strong order tally supports future work.
Revenue for the nine months ended Sept. 30 was €570.1 million, compared with €599.6 million in the same period of 2025, GTT said in an Oct. 23 release. The French technology group designs membrane containment systems used to transport and store liquefied gases, linking part of its activity to vessel construction.
GTT said low order intake in the first nine months of 2025 left fewer LNG carriers under construction during the current period. Delivery schedules had moved forward in earlier months before shifting back toward initial contract timing; the resulting revenue movement was less than 2% of the period’s total, the company said.
The company logged 80 orders, including 71 new LNG carriers scheduled for delivery between 2028 and 2030. GTT called the total its second-best commercial performance. Its core-business order book contained 299 units valued at €1.8 billion, while its LNG-as-fuel order book included 40 vessels.
GTT reaffirmed its 2026 consolidated revenue target of €740 million to €780 million and earnings before interest, taxes, depreciation and amortization (EBITDA) target of €490 million to €530 million. GTT Energy revenue declined 9.4% to €522 million, while GTT Marine revenue climbed 138.2% to €47.4 million, reflecting contributions from Danelec and its Safety business.
Chief Executive Officer François Michel pointed to final investment decisions for 51 million tonnes per annum of new liquefaction capacity in the first nine months of 2026, following 84 million tonnes per annum signed in 2025. He said the investment figures indicated sustainable demand for LNG. GTT said the Middle East conflict continued to disrupt energy and maritime transport, including passage uncertainty around the Strait of Hormuz, but assessed the near-term effect on its business as limited.
GTT plans to publish its 2026 annual results on Feb. 24, 2027, after market close.
