(AOF) – Key points
– World leader in the design of containment systems with cryogenic membranes used for the storage and naval transport of LNG or liquefied natural gas;
– Turnover of € 396 million, 94% achieved in the construction of tanks or stationary vessels and composed of 9 / 10ths of royalties, resulting in margins exceeding 50%;
– Business model of capitalization on the growth of the natural gas markets (25% of energy consumption expected for 2040) and LNG fuel (“Global Sulfur Cap”, incentive for the propulsion of merchant ships by LNG) and extension of the service offering through acquisitions;
– Awaiting sale by Engie of its 40.4% stake in the capital of the company of which Philippe Berterottière is CEO of the 9-member board of directors;
– Very solid balance sheet – shareholders’ equity of € 244 million, no debt and cash flow of € 140 million.
– Innovation strategy with a research & development budget of € 20 million, aimed at strengthening gas management technologies, improving Mark Systems and NO 96 solutions, reducing carbon impacts through artificial intelligence and Smart Shipping (acquisitions of Ascenz, Marorka and OSE) and to participate in the growth of the hydrogen market via the electrolysers of Elogen / 1st French mid-sized company by the number of patent filings, more than 80% of the order book from technologies offered for less than 3 years / validation of technologies intended for GL fuel / partnership with the Marseille incubator Zebox, specializing in maritime transport;
– Environmental strategy of net zero ambition 2025 for the company’s carbon emissions;
– Ramping up of service activities carried out and offers to GBS (seabed, ethane transport, etc.);
– 75 orders taken at the end of September and rapid development in the LNG fuel market, resulting in visibility until 2029.
– Geopolitical risks concentrated on Qatar, Malaysia and Indonesia, which account for more than half of the global LNG liquefaction supply;
– Evolution of market shares in the supply of LNG fuel to merchant ships;
– Ramping up of green hydrogen storage carried by the Elogen subsidiary;
– Decrease of 21% in turnover at the end of September 2021;
– Commitment 2021 of a distribution rate of at least 80%, with interim dividend.
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