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 Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Navy

Northrop Grumman Navigation Systems for Canadian Navy

Northrop Grumman Corporation's Sperry Marine business unit has been selected to design and supply gyrocompass navigation systems for 12  Kingston Class coastal

Maritime Tension Dominates Southeast Asia Summit

Southeast Asian leaders edged closer to open criticism of China's land reclamation in the disputed South China Sea at a regional summit on Monday, as the Philippines

BIMCO Welcomes EU Decision on Migrants

BIMCO has stated today that it appreciates the new efforts by EU leaders to reduce increasing reliance on merchant shipping to rescue the growing numbers of

Finance

Scorpio Bulkers Sells Three Vessels

Scorpio Bulkers has agreed to sell two new capesize bulk carriers and an ultramax for a combined $111m to an unknown buyer.   The two capes are currently under

Hung Hom Dredging Kicks Off

Marine works involving dredging operations will be carried out near the Hong Kong Coliseum, Hung Hom for the next ten months, according to mardep.gov.hk.   The

US Designates Three Marine Highway Projects

U.S. Transportation Secretary Anthony Foxx has designated three new Marine Highway Projects.   The Mississippi and Illinois Rivers, previously designated as the M-55 and M-35,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Sonar
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: 0.1854 sec (5 req/sec)