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Investing.com -- Gaztransport & Technigaz reported first-half 2025 results that exceeded analyst expectations, with revenue rising 32% to €389 million compared to the company-collected consensus of €375 million.
The French engineering company, which specializes in containment systems for liquefied natural gas (LNG), saw strong performance across most business segments. Royalties revenue increased by 35% to €365 million, while the Digital segment grew 36% to €9 million. Services revenue rose 11% to €12 million, though the Electrolysers segment declined 59% to €2.5 million.
EBITDA reached €264 million, up 49% and ahead of the €246 million consensus estimate. EBIT also increased 49% to €257 million, surpassing the expected €238 million. Net income grew more modestly at 6% to €180 million, impacted by a €48 million restructuring charge.
The company maintained a strong financial position with net cash of €360 million, up from €335 million at the end of fiscal year 2024. However, the overall backlog declined to €1.7 billion from €1.9 billion in FY24.
Despite the reduction in total backlog, the company reported increases in future-year allocations. The backlog for 2026 execution stands at €602 million (versus €586 million previously), while 2027 is now €430 million (up from €395 million) and 2028 and beyond reached €317 million (previously €247 million). These improvements may lead to upward revisions in analyst forecasts.
The company will hold an analyst meeting on Thursday in Paris, where additional details about the LNG market environment and potential synergies from the Danelec acquisition may be discussed.
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