Paris, April 22, 2026. GTT, the technological expert in membrane containment systems used to transport and store liquefied gases, today announces its revenues for the first quarter of the 2026 financial year.
Consolidated revenues for the first quarter of 2026 amounted to 192.5 million euros, a 1% increase compared with the first quarter of 2025.
Revenues from containment system construction amounted to 172.7 million euros, down -4.3% compared with the first quarter of 2025.
Royalties from LNG and ethane carriers amounted to 160.4 million euros, down -5.9%, due to a smaller number of LNG carriers under construction over the period. This decrease is in line with the gradual end of the effect of the order peak seen in 2022 and the temporary slowdown in orders seen in the first half of 2025.
Royalties from the construction of FSRUs and FLNGs show an increase of +211.8% and +41.7%, respectively, driven by a larger number of units under construction in the first quarter of 2026 compared with the first quarter of 2025.
Royalties generated by the LNG-as-fuel business reached 4.2 million euros in the first quarter of 2026, compared with 6.4 million euros in the first quarter of 2025.
Revenues from services to operations amounted to 5.4 million euros, up +27.5% compared with the first quarter of 2025, driven by an increase in engineering studies and assistance and maintenance services provided by GTT to its customers over the period.
Marine and digital solutions revenues reached 14.4 million euros. Its growth compared with the first quarter of 2025 was driven in particular by Danelec’s contribution of 10 million euros. The GTT Marine division therefore contributes to 7% of the Group’s revenues for the first quarter of 2026, compared with 2% in the first quarter of 2025.
The activity of designing and manufacturing electrolysers (Elogen) did not contribute to revenues in the first quarter of 2026, as no deliveries occurred. This subsidiary is primarily focused on research and development.
Group business activity in the first quarter of 2026
GTT Energy: Strong commercial momentum and activity in line with expectations
Continuing the commercial dynamic seen in the fourth quarter of 2025, GTT recorded a total of 32 orders in the first quarter of 2026.
They include 29 orders for new LNG carriers and two VLECs (Very Large Ethane Carriers). Their delivery is scheduled between the second quarter of 2028 and the fourth quarter of 2029.
GTT also received an order for the construction of a 10,000 m3 onshore storage tank. Designed in cooperation with Shaanxi Yanchang Petroleum & Natural Gas Co. Ltd., this tank will be located near an onshore LNG liquefaction plant. This configuration is a significant step forwards for small-scale LNG infrastructure, which requires optimised energy performance due to the limited land footprint. Its delivery is scheduled for the fourth quarter of 2027.
Over the period, 22 LNG carriers were delivered, a similar level with the first quarter of 2025 (23 LNG carrier deliveries).
The GTT Energy division posted revenues of 178.1 million euros in the first quarter of 2026. This amounted to a decrease of -3.6% due to the reduced number of vessels under construction compared with the first quarter of 2025.
Order book as at March 31, 2026
As of January 1, 2026, GTT’s order book, excluding LNG as fuel, comprised 288 units. The following developments have occurred since January 1:
Deliveries completed: 22 LNG carriers, 1 FSRU;
Orders received: 29 LNG carriers, 2 ethane carriers and 1 onshore storage tank;
As of March 31, 2026, the order book, excluding LNG as fuel, stood at 297 units, broken down as follows:
268 LNG carriers;
23 ethane carriers;
2 FSRUs (Floating Storage and Regasification Units);
3 FLNGs;
1 onshore storage tank
Regarding LNG as fuel, with the delivery of 2 vessels, there were 46 vessels in the order book at March 31, 2026.