Aker Kvaerner Posts Record High Results

Monday, July 31, 2006
Aker Kvaerner reported record high operating results in the period. The EBITDA for the second quarter of $119m, is an increase of 66 percent compared to the second quarter of 2005. New contract awards in the Subsea, Product & Technology segment and growth in existing contracts, resulted in a $2.5b order intake and an order backlog of $9b at the end of June 2006. Revenues in the second quarter totaled $2.3b, an increase of 44 percent compared with the same quarter last year, reflecting strong markets and high activity in all reporting segments. EBITDA for the three-month period was $119m represents an increase of 66 percent from $71m in the second quarter 2005. The quarterly EBITDA margin was 5.2 percent compared to 4.5 percent in the second quarter last year. Cashflow from operating activities was $27.5m in the second quarter, reflecting a $205.6m increase in net current operating assets. Cash and bank deposits at the end of June amounted to $1b. The liquidity buffer, including undrawn credit facilities of $357m, was a comfortable $1.4b. The company's market capitalization was $5b, an increase of $1.5b from year end 2005. A total of 25 million Aker Kvaerner shares were traded on the Oslo Stock Exchange during the second quarter, which constitutes 45 percent of total outstanding shares.

Maritime Today


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

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

People & Company News

Dynasafe Promotes Chas Reid

Dynasafe BACTEC Limited has appointed Chas Reid to International Marine Services Director.   Kevin Kneebone MD, Dynasafe BACTEC said, “Chas has over the last

Amazon Expands Logistics Reach in China

Amazon.com Inc is aggressively expanding its logistics operations in China as part of a broader effort to control the rising cost of shipping billions of packages.

OTC Names 2016 Award Winners

The 2016 Offshore Technology Conference (OTC) will honor this year’s Distinguished Achievement Award recipients on Tuesday, 3 May, in Houston.   As part of the

Ports

Obama’s Budget ‘Grossly Imbalanced’ For US Ports -AAPA

Landside freight transportation funds would increase; navigation, port security and emission reduction funds would drop    The American Association of Port Authorities

Port of Oakland Plans for Terminal Closure

Port of Oakland sets plan to shift cargo when terminal closes; ships move to neighbor berths; Saturday and night gates to help cargo flow   The Port of Oakland

N.Korea Shipper Skirts UN Sanctions, Gets Port Access

A U.N.-blacklisted North Korean shipping company continues to evade sanctions through its use of foreign-flagged ships, name changes and other means of obfuscation,

 
 
Maritime Contracts Maritime Standards Navigation Pipelines Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction
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: 0.0873 sec (11 req/sec)