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

Navy

HII Acquires Engineering Solutions Division

Huntington Ingalls Industries (HII) has acquired the Engineering Solutions Division of The Columbia Group, a designer and builder of unmanned underwater vehicles

NASSCO to Christen Third MLP, Lewis B. Puller

Shipbuilder General Dynamics National Steel & Shipbuilding Co. – NASSCO – will christen the USNS Lewis B. Puller (MLP 3 AFSB) Saturday, February 7, 2015 in San Diego.

ThyssenKrupp: Submarine Unit Not For Sale

German industrial group ThyssenKrupp is not in talks to sell its submarine unit nor is it in talks to sell its stainless steel unit VDM, its chief executive said on Friday.

Finance

Shippers Must Monitor Greek Government Changes

Moore Stephens says shipping must monitor developments in wake of Greek government change   International accountant and shipping adviser Moore Stephens says

Chevron Scraps 2015 Share Repurchase Program

Chevron Corp halted its 2015 share repurchase program on Friday, a move to conserve cash amid tumbling oil prices.   The company's shares extended loses on the news,

Marquette Transportation Reportedly for Sale

Marquette Transportation Company LLC, a U.S. towboat operator, is exploring a sale that could value it at more than $1 billion and has attracted the interest of

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.2689 sec (4 req/sec)