15.05.2012
Bergen Group Interim Report Q1 2012
Highlights
• Delays causes low margins in Q1 2012 • First quarter influenced by hull delays from two subcontractors • NOK 870 million in revenue (NOK 954 million in Q1 2011). A negative EBITDA of NOK 5 million (positive NOK 40 million in Q1 2011).
• Offshore with a continued strong profit Margin • NOK 301 million in revenue, an EBITDA Margin of 10.1 %. • The acquisition of the engineering company Origo Process AS completed. • Continued strong order intake and high tender activity.
• Shipbuilding with NOK 1.5 billion in new orders • Two major contracts awarded from Volstad Maritime since New Year. • Increased outfitting activity at Bergen Group Fosen. • A negative EBITDA for the division in Q1 due to delays in hull deliveries. • The first cruise ferry hull for Fjord Line arrived Fosen in late April.
Services performing well in a challenging market situation NOK 211 million in revenue and an EBITDA Margin of 5.6 %. Strategic expansion of activity; service base established at Mongstad. Increased focus on the offshore marked is expected to generate additional activity.
Solid order intake and continued high tender activity New orders of NOK 2 billion in the first quarter. Continued good order intake expected going forward (replacing the sentence above) BOA contracts removed from the order book in the Shipbuilding division.
- more here:
http://www.bergengroup.no/publish_files/Bergen_Group_Interim_Report_Q1_2012.pdf
Bergen Group
http://www.bergengroup.no/
---------------------------------
Bergen Group er en innovativ leverandør av produkter, tjenester og løsninger til offshore og maritim industri.
Konsernet har 1.600 erfarne og motiverte medarbeidere tilknyttet godt etablerte selskaper strategisk plassert i sentrale områder langs Norgeskysten.
Bergen Group er notert på Oslo Børs med tickeren BERGEN
Bergen Group Interim Report Q1 2012
Highlights
• Delays causes low margins in Q1 2012 • First quarter influenced by hull delays from two subcontractors • NOK 870 million in revenue (NOK 954 million in Q1 2011). A negative EBITDA of NOK 5 million (positive NOK 40 million in Q1 2011).
• Offshore with a continued strong profit Margin • NOK 301 million in revenue, an EBITDA Margin of 10.1 %. • The acquisition of the engineering company Origo Process AS completed. • Continued strong order intake and high tender activity.
• Shipbuilding with NOK 1.5 billion in new orders • Two major contracts awarded from Volstad Maritime since New Year. • Increased outfitting activity at Bergen Group Fosen. • A negative EBITDA for the division in Q1 due to delays in hull deliveries. • The first cruise ferry hull for Fjord Line arrived Fosen in late April.
Services performing well in a challenging market situation NOK 211 million in revenue and an EBITDA Margin of 5.6 %. Strategic expansion of activity; service base established at Mongstad. Increased focus on the offshore marked is expected to generate additional activity.
Solid order intake and continued high tender activity New orders of NOK 2 billion in the first quarter. Continued good order intake expected going forward (replacing the sentence above) BOA contracts removed from the order book in the Shipbuilding division.
- more here:
http://www.bergengroup.no/publish_files/Bergen_Group_Interim_Report_Q1_2012.pdf
Bergen Group
http://www.bergengroup.no/
---------------------------------
Bergen Group er en innovativ leverandør av produkter, tjenester og løsninger til offshore og maritim industri.
Konsernet har 1.600 erfarne og motiverte medarbeidere tilknyttet godt etablerte selskaper strategisk plassert i sentrale områder langs Norgeskysten.
Bergen Group er notert på Oslo Børs med tickeren BERGEN
