Full Year 2024 Gaztransport et Technigaz SA Earnings Call Transcript
Key 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.
- 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.
Good morning, ladies and gentlemen. Thank you very much for joining us for this presentation on the 2024 results of GTT. With me, there is Thierry Hochoa; the group CFO; there is Clémence Granveau who is Head of [CSR], there is Jean-Baptiste Boutillier, who is VP Innovation; there is Anouar Kiassi, with DP Digital and in charge of Ascenz Marorka.
There is, of course, Jean-Baptiste Garnier, who is investor relationship that you know very well. And we have also the chance to have some other fellows from GTT. We have Karim Chapot who is VP Technical for GTT.
Well, I would like to start with some key highlights of year 2024. The core business order book amounts to EUR1.9 billion. So it's a very high level with 332 units. For LNG as a fuel, we have an order book of 50 units, amounting to EUR48 million. In 2024, our revenues amounted to EUR641 million, which represents an increase of 50% compared to 2023.
The EBITDA amounted to EUR388 million,
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