Aker Yards Reports Growth

Friday, February 16, 2007
Aker Yards ASA reported an EBITDA of $64.8m for the fourth quarter of 2006, an increase of 15 percent compared with the fourth quarter of 2005. The EBITDA result for 2006 was up 40 percent from 2005. Earnings per share (EPS) were $3.5m for the quarter, and $7.5m for the full year. O

The Board of Directors proposes to pay a dividend for 2006 of NOK 18 per share for the year 2006. The pressure on subcontractors is high, and demands a careful follow up in order to reduce the risk of delays on projects. Significant integration processes are ongoing in all three business areas. The order backlog increased from the previous quarter, and order intake in the fourth quarter was NOK 8 906 million. Cruise & Ferries contributed a significant part of the order intake, with the order for two ferries for Stena Rederi AB representing approximately NOK 3 300 million. The order backlog at the close of the fourth quarter was NOK 79 420 million, compared with NOK 38 897 million at the end of the fourth quarter 2005. Aker Yards achieved an EBITDA result of NOK 401 million in the fourth quarter of 2006, compared with NOK 348 million in the corresponding quarter of 2005. The EBITDA margin for the fourth quarter of 2006 was 5.1 percent. The Board of Directors proposes to pay a dividend for 2006 of NOK 18.00 per share. Please find enclosed the full version of the fourth quarter 2006 report.

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