(BFM Stock Exchange) – The membranes specialist for the transport of liquefied gases has delivered highlights increased under 2024 and a gross operating income forecast significantly above expectations for 2025.

Quality value, both in terms of its execution and its positioning, Gazransport and Technigaz (GTT) signs one of the most beautiful routes in the Parisian square in recent years. The title has taken 85% over three years.

The specialist in cryogenic membranes for the transport of natural gas and in particular liquefied natural gas (LNG), however, saw an obstacle disturbing its stock market: the departure of its general manager, Jean-Baptiste Choimet. The title lost 7.5% in two sessions following this announcement which surprised the market on February 10.

Certain analysts, however, put his departure into perspective, judging that the leader was mainly paid for the broken pots for the Elogen subsidiary, specializing in the manufacture of electrolysis for the production of green hydrogen. In loss, this subsidiary had not obtained significant orders in 2024 and GTT had decided, last week, to restructure this company with the potential deletion of 110 positions. However, Jean-Baptiste Choimet had led Elogen between 2020 and 2024, before then taking over the general management of GTT.

The independent AlphaValue design office expected that its departure does not change much in the file, the investment thesis remaining “intact” on GTT in view of the quality of the company.

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Strong increase in results

The annual results published this Friday, February 21 give grain to Moudre in AlphaValue. Over the age of 2024, GTT gave income of 641 million euros, up 50% over a year, after an increase of 39% in 2023.

Growth registered 56.4% for the heart of the company’s hearts of the company, namely the fees paid within the framework of the constructions of ethaniers and methaniers.

The contracts made by GTT with the shipyards provide that they use the group’s technology to build tanks in ships, this for fees of fees

At the end of December, the GTT command book is 332 units including 322 minors and ethaniers. This represents a total of almost 1.9 billion euros in future turnover (including 675 million euros for 2025).

On the other account lines, the gross operating profit (EBITDA) was established at 388.1 million euros up 65.5% over one year for a corresponding margin of 60.5%. The operating profit registered at 374.3 million euros, up 67.5% over one year, for an operating margin rate of 58.4% against 52.3% in 2023. He jumped 72.7% over one year at 347.8 million euros.

For 2025, GTT announced count on income between 750 million euros and 800 million euros and an EBITDA located between 490 million and 540 million euros.

The projection of EBITDA for 2025 is significantly higher than expectations, the consensus located at 477.9 million euros, notes Oddo BHF. The broker thus appreciates the prospects he deems “extremely solid”.

Trump in support?

GTT has also announced that it would offer its shareholders to distribute a dividend of 4.36 euros per share, up 72% over a year.

On the Paris Stock Exchange, the GTT action jumped 17% around 3:20 p.m., signing the highest increase in SBF 120.

While the company recorded 84 orders of Lightners and Ethaniers last year, Oddo BHF expects that the year 2025 is still rich on the commercial level.

“The dynamics of the new orders should continue given the needs for the liquefaction units under construction (60/85 units), new FID (final investment decisions, editor’s note) expected and reinforced by the new Trump administration as well that by the renewal market, “explains the broker.

President Donald Trump said several times that he wanted to revive US LNG exports, which had been blocked by a moratorium issued by the Biden administration. Such a project should revive the projects of liquefaction units and therefore translate into more needs for Lnown and membranes built by GTT.