Aker Yards Announces 3Q Results

Wednesday, November 07, 2007
Aker Yards ASA reported an EBITDA result of $37.83m for the third quarter of 2007, compared to $57.5m in the corresponding quarter of 2006. The fast growth in the heated environment has, as previously announced, resulted in operational challenges. Significant operational improvement measures are under implementation. The very high loading will continue until next summer, and will gradually be taken down to a more normalized level. Both revenues and profit are expected to increase in the fourth quarter, mainly as a result of normal seasonal fluctuations between the quarters. Aker Yards saw 15.4 percent increase in revenues in the third quarter compared to the corresponding period of 2006. The EBITDA margin for the third quarter of 2007 was 2.7 percent. Earnings per share (EPS) were $0.03 for the quarter, compared with $0.19 in the same period in 2006. After the end of the third quarter, the STX Group of Korea announced it had acquired a 39.2 percent stake in Aker Yards.

People & Company News

MN100: Klüber Lubrication NA LP

The Company: Klüber Lubrication is one of the world’s leading manufacturers of specialty lubricants, offering high-end tribological solutions to virtually all industries and markets worldwide.

Grand Bahama Shipyard Adds Four Executives

Grand Bahama Shipyard Limited (GBSL), a Caribbean shipyard providing retrofit, refurbishment and revitalization to cruise and commercial vessels, has added four

MN100: Voith Turbo

The Company: Voith Turbo specializes in the design, manufacture and servicing of high performance driveline equipment. From drive components to electronic drive systems,

Cruise Ship Trends

Pods Versus Water Lubricated Props

Thordon Bearings has called on the marine industry to investigate the characteristics of both conventional seawater-lubricated propeller shaft systems and podded

Grand Bahama Shipyard Adds Four Executives

Grand Bahama Shipyard Limited (GBSL), a Caribbean shipyard providing retrofit, refurbishment and revitalization to cruise and commercial vessels, has added four

MV Werften Begins Building Crystal’s New Cruise Ships

The first two of four Rhine class river cruise ships are simultaneously under construction at MV WERFTEN in Wismar. Delivery of the 7-star vessels Crystal Bach

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Salvage Ship Electronics 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: 0.0807 sec (12 req/sec)