Aker Releases 3Q Results

Thursday, October 26, 2006
Aker Yards ASA reported an EBITDA of NOK 304 million for the third quarter of 2006, an increase of 7.8 percent compared with the third quarter of 2005. Challenges on three RoRo container vessels gave a negative result effect in the quarter of approximately NOK 60 million for the business area Merchant Vessels.

Additionally, capacity costs related to low capacity utilization in France resulted in a negative effect of NOK 90 million in the quarter, slightly more than anticipated. Order intake in the third quarter was NOK 19 995 million, giving an order backlog of NOK 77 519 million at the end of the quarter, comprising 150 vessels.

Aker Yards had revenues of NOK 6 505 million in the third quarter of 2006, an increase of 54 percent compared with NOK 4 219 million in the corresponding period of 2005. High activity in all three business areas and the acquisition of new yards contributed to the development.

The order backlog increased by NOK 16 912 million from the previous quarter, and order intake in the third quarter was NOK 19 995 million. Further, currency fluctuations resulted in an upward adjustment of the backlog.

Cruise & Ferries contributed a significant part of the order intake, with the order for two post panama cruise vessels for NCL representing approximately NOK 12 billion. The order backlog at the close of the third quarter was NOK 77 519 million, compared with NOK 35 457 million at the end of the third quarter 2005.

Aker Yards achieved an EBITDA result of NOK 304 million in the third quarter of 2006, compared with NOK 282 million in the corresponding quarter of 2005. The EBITDA margin for the third quarter of 2006 was 4.7 percent. Challenges on three ro-ro container vessels gave a negative result effect in the quarter of approximately NOK 60 million. Additionally, capacity costs related to low utilization in France gave a negative effect of NOK 90 million in the quarter.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Navy

Austal Delivers LCS 8 to US Navy

Austal Limited (Austal) (ASX:ASB) delivered the future USS Montgomery (LCS 8) to the U.S. Navy, during a ceremony held aboard the ship at Austal USA’s shipyard in Mobile, Alabama, USA on 23 June.

Prince Charles Places Final Section of UK Aircraft Carrier

The second of the largest warships ever built for the U.K. Royal Navy, the Queen Elizabeth Class carrier HMS Prince of Wales, was given the royal seal of approval when HRH The Prince of Wales,

US Navy Accepts Delivery of Future USS Montgomery

The U.S. Navy has accepted delivery of future USS Montgomery (LCS 8) during a ceremony on June 23 at the Austal USA shipyard in Mobile, Ala.   Marking the official

Finance

VEB Guarantees $3 Bln of Yamal LNG Debt

Russian development bank VEB said on Friday it had provided a guarantee for $3 billion of debt to the Yamal liquefied natural gas (LNG) project, led by Russian gas firm Novatek.

US Oil Drillers Cut Rigs after 3 Weeks of Additions

U.S. oil drillers cut rigs this week for a 20th week this year after three weeks of additions, according to a closely followed report on Friday, as crude prices

World Stocks Tumble as Britain Votes for EU Exit

Global capital markets reeled on Friday after Britain voted to leave the European Union, with $2 trillion in value wiped from equity bourses worldwide, while money

 
 
Maritime Contracts Maritime Security Navigation Offshore Oil Pipelines Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0846 sec (12 req/sec)