GTT reports lower nine-month revenue as new LNG orders lift its orderbook
GTT reported €570.1 million in nine-month revenue, down 4.9% year on year, alongside 80 containment-system orders and a €1.8 billion core orderbook.
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French technology group GTT reported nine-month 2026 revenue of €570.1 million on 23 October, 4.9% below the record level reported for the same period of 2025. At the same time, the company said it had received 80 new orders for containment systems, including 71 for LNG carriers, and that its core-business orderbook stood at 299 units valued at €1.8 billion at the end of September. The update covers commercial activity and revenue, rather than a full quarterly earnings statement.
The revenue breakdown shows why the headline and order count moved in different directions. GTT Energy generated €522.0 million, down 9.4% year on year; newbuild revenue was €505.5 million, down 9.5%, and carrier revenue declined 11.4%. The company attributed its lower activity largely to fewer LNG carriers under construction, following lower order intake during the first nine months of 2025. It also said earlier ship deliveries were returning toward initial contractual milestones, shifting less than 2% of nine-month revenue.
Other segments partially changed the mix. GTT Marine generated €47.4 million, up 138.2% from €19.9 million, with the presentation attributing the increase mainly to Danelec’s contribution; it represented eight per cent of group revenue, against three per cent a year earlier. Hydrogen subsidiary Elogen reported €0.7 million, down from €3.7 million, which the company linked to its refocusing on research and development. The release also described additional resources for services and digital offerings.
GTT said the core orderbook increased from €1.6 billion at the end of 2025 to €1.8 billion at the end of September. The presentation records 288 units in the core orderbook at December 2025, 80 new orders over the nine months and 69 deliveries, leaving 299 units at September. LNG-carrier units grew from 261 to 266 after 71 new orders and 66 deliveries. The broader headline of 299 includes multiple vessel and equipment categories, not only LNG carriers.
The update also described GTT Energy’s planned LNG Performance Centre, with Cargo Insights as its first module. The company says it is designed to give shipowners and charterers continuing information about cargo and tank conditions, track LNG properties and energy valuation during voyages, forecast quality at destination and help manage compatibility with import-terminal constraints. The presentation says the broader service platform is intended for rollout in 2027. These are company descriptions of a product offer, not independently verified performance results.
On market context, GTT’s presentation lists 51 million tonnes per annum of liquefaction capacity reaching final investment decision in the first nine months of 2026, following 84 Mtpa in 2025. The presentation notes that its project list is non-exhaustive and draws on GTT, Wood Mackenzie and other named industry sources; it also cautions that market data and forecasts have not been independently verified by GTT. These figures should therefore be read as company-reported industry context.
GTT confirmed its 2026 objectives: consolidated revenue between €740 million and €780 million and EBITDA between €490 million and €530 million, subject to no significant order delays or cancellations. The company’s presentation says 2026 compares with a high 2025 base and that the temporary slowdown in orders in the first half of 2025 is affecting current activity. Its statement cited an uncertain geopolitical context. Those objectives are forward-looking company guidance, not realised results. The release is dated 23 October, the same day as the company’s listed Q3 activity presentation.
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