Dockwise Ltd. Reports 3Q Results
Monday, November 12, 2007
DOCKWISE Ltd. (DOCK, Oslo Stock Exchange) announced its results for the first nine months of 2007, which ended on 30 September 2007. Revenues increased 13.0% to $206.0m ($182.2m YTD Q3 2006) Adjusted EBITDA increased 43.9% to $101.1m ($70.2m in YTD Q3 2006). Adjusted EBITDA margin amounted to 44.8% (38.6% in YTD Q3 2006). Total order backlog DHL projects of $224m (up 52.4% from Q2 2007). The company received full listing on the Oslo Stock Exchange as of October2, 2007. The EBITDA Q4 2007 is expected to be in line with Q3 adjusted for the impact of Yacht Express.