Core Points - GTT has filed its 2024 Universal Registration Document, which includes the Annual Financial Report, with the French stock market authorities on April 25, 2025 [1] - The document is available in French and will soon be available in English on GTT's website [2] - The 2024 Universal Registration Document contains various reports, including the annual financial report, management report, sustainability information, corporate governance report, and details regarding the upcoming shareholders' meeting [4] Financial Agenda - The combined shareholders' meeting is scheduled for June 11, 2025 [4] - The ex-dividend date for the balance of the dividend for the 2024 financial year is June 17, 2025 [4] - Payment of the balance of the dividend for the 2024 financial year will occur on June 19, 2025 [4] - The publication of the 2025 half-year results is set for July 29, 2025, after market close [4] - The 2025 third-quarter results will be published on October 31, 2025, after market close [4] Company Overview - GTT specializes in the design and development of cryogenic membrane containment systems for the transport and storage of liquefied gases [3][5] - The company has over 60 years of experience and is recognized for its innovative technologies used in LNG carriers and other related applications [3][5] - GTT is committed to sustainability and develops solutions to support the transition to a decarbonized future, including systems that enable the use of LNG as fuel [5]

Group 1 - ABO-Group announced its annual report for 2024 and the Annual General Meeting scheduled for May 28, 2025 [1] - The annual report can be accessed on the ABO-Group's official website [1] - ABO-Group was established in 1995 as a consultancy for soil research and has evolved into an international engineering firm specializing in environmental and soil aspects [3][4] Group 2 - The company operates through various semi-independent subsidiaries in Belgium, France, and the Netherlands, employing over 800 experts [4] - ABO-Group provides comprehensive solutions for challenging projects in sectors such as construction, infrastructure, mining, resources, energy, and water [4] - ABO-Group Environment is listed on EURONEXT Brussels and EURONEXT Paris [4]

Financial Data and Key Metrics Changes - In Q1 2025, total revenue increased by 16.8% to $5.2 million from $4.5 million in Q1 2024 [34][35] - Operating income rose by 19.2% to $0.7 million compared to $0.6 million in Q1 2024 [40] - Net income after taxes was $0.91 million or $0.08 per diluted share, up from $0.6 million or $0.06 per diluted share in Q1 2024 [41] Business Line Data and Key Metrics Changes - Marine Technology business revenue decreased by 35.8% to $2.3 million from $3.5 million in Q1 2024 [35] - Engineering business revenue increased by 77% to $1.6 million from $0.9 million in Q1 2024 [12] - Acoustic Sensors & Materials business generated $1.3 million in revenue, contributing 25.2% to consolidated revenue [36][43] Market Data and Key Metrics Changes - The Marine Technology business faced significant headwinds due to U.S. policy changes affecting offshore renewables, leading to weak demand [9][10] - Increased defense spending in Europe, particularly Germany's expected $428 billion, is anticipated to favor the company's products in the medium to long term [11][12] Company Strategy and Development Direction - The company aims to pivot the revenue model of the Marine Technology business to a multi-year, multi-sales model [47] - Focus on increasing the number of defense programs that utilize the company's technologies, particularly Echoscope and DAVD [28][30] - The acquisition of Precision Acoustics is seen as a strategic move to compete for larger defense contracts [31][32] Management's Comments on Operating Environment and Future Outlook - Management expects a quieter Q2 due to customer standstill amid uncertain policy environments, but anticipates a robust Q3 and Q4 [52][55] - The company is optimistic about the long-term impact of increased defense spending in Europe and the U.S. [46][47] Other Important Information - The company has $22.54 million in cash and cash equivalents with no debt as of January 31, 2025 [42] - The gross margin for the Acoustic Sensors & Materials business is expected to be between 57% and 61% on an annualized basis [38] Q&A Session Summary Question: What needs to happen for marine products to recover? - Management noted that customers are currently on standstill due to uncertainty, expecting a quiet Q2 but a robust Q3 and Q4 [52][55] Question: Timeline for tethered and untethered markets? - Management targets $4 million to $4.5 million in revenues for DAVD this year, with significant demand for both tethered and untethered systems [57][60] Question: Impact of market conditions on acoustic solutions? - The acoustic solutions market appears stable, with no significant slowdown observed [72] Question: Status of potential acquisition? - The company is focused on one target for acquisition, pending further understanding of the global policy environment [80][84]

Financial Data and Key Metrics Changes - For 2024, contract revenue increased by 11% year-over-year, adjusted EBITDA rose by 24%, and GAAP EPS nearly doubled year-over-year [6][31] - Adjusted EPS was up 39% compared to the previous year [6][35] - Free cash flow reached $4.49 per share, marking a record level for the company [6] Business Line Data and Key Metrics Changes - Building solutions, utility programs, and municipal civil engineering services saw double-digit percentage increases, contributing to overall revenue growth [31] - Commercial customers now account for 15% of revenue, doubling from the previous year, while state and local government customers represent 44% and utilities 41% of revenue [10][12] Market Data and Key Metrics Changes - Demand for services from commercial customers, particularly related to electricity usage at data centers, is strong due to AI-driven load growth [11] - Organic growth for state and local government clients is at a high single-digit pace, with minimal impact from federal spending cuts [12] Company Strategy and Development Direction - The company aims to expand its commercial services and electrical engineering capabilities through acquisitions, with a focus on the commercial technology sector [9][25] - The recent acquisition of APG enhances the company's expertise in utility-scale electrical engineering, aligning with its strategy to serve commercial data center owners [23][25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in a positive long-term outlook, driven by electric load growth and the company's strong execution [7][19] - The company anticipates net revenue for 2025 to be between $320 million and $330 million, with adjusted EBITDA ranging from $63 million to $67 million, exceeding current consensus estimates [38] Other Important Information - The company generated $72 million in cash flow from operations and added $50 million to its cash balance, resulting in total liquidity of $124 million at year-end [36] - The company is focused on the U.S. market for the foreseeable future, with no immediate plans for international expansion [76] Q&A Session Summary Question: Comments on the LADWP contract and potential startup issues - Management noted that there are no significant startup concerns as the contract is a recompete, and they expect to ramp up activity in the first half of the year [45][46] Question: Funding sources for RENs and project accountability - Funding for RENs comes from surcharges on electricity bills, overseen by the PUC, allowing for simpler contracts compared to IOUs [49][50] Question: Impact of presidential transition on business activity - Management indicated that the change in administration has had minimal impact on business activity, as most work is driven by state and local governments [54][56] Question: Trends in government programs and inquiries - Increased demand for California programs and similar trends in New York were highlighted, along with a rise in upfront study work related to data centers [62][64] Question: Update on software cross-selling and APG's software - The company plans to introduce its software to APG, which currently does not have any, and has seen solid cross-selling opportunities [66][67] Question: Integration of AI into software and expansion into Europe - AI integration into LoadSeer is underway, with a new version expected in the first half of the year, while international expansion is not a current focus [73][76]