Dockwise Ltd : Q2 & H1 Results 2012

(Press Release)
Tuesday, August 14, 2012

DOCKWISE Ltd. today publishes results for the three month and Half Year periods ended June 30, 2012.

 Financial Highlights Q2 2012

  •  Revenues of USD 97 million (USD 120 million in Q1 2012);
  •  EBITDA of USD 28 million (USD 39 million in Q1 2012)
  • Operating margin of 29% (32% in Q1 2012);
  • Net loss of USD 8 million (Net profit of USD 9 million in Q1 2012); 
  • Cash flow generated from operating activities of USD 10 million (USD 35 million in Q1 2012);
  • Issuance of USD 248 million ordinary shares and USD 50 million preference shares        

Financial Highlights first Half Year 2012

  •  Revenues of USD 216 million (USD 198 million in first half year 2011);
  •  EBITDA of USD 66 million (USD 64 million in first half year 2011);
  • Operating margin of 31% (32% in first half year 2011);Net profit of USD 1 million (adjusted net loss of USD 1 million in first half year 2011); 
  • Cash flow generated from operating activities of USD 45 million (USD 64 million in first half year 2011).

 Strategic Highlights Q2 2012

  •  Acquisition of Fairstar Heavy Transport N.V. for USD 90 million (60.4%):
  • Creates strategic position in Logistics Management Services;
  • 30% addition to current and long term backlog;
  •   Four vessels added to Dockwise fleet, with fifth vessel under commission;
  • Accommodates fleet rejuvenation;
  •  Initiated buy out and delisting procedures following control (99%) as of July 2012.

Commercial Highlights Q2 2012

  •  HYSY 278 successfully delivered first Dockwise cargo;
  •  Total rig transports of 15;
  •  Contract awards of USD 109 million in Q2 2012 include:Hebron topside transportation for Exxon Mobil;USA Big Dog Spar Buoy for BP. Post Q2 2012 events
  •  Sustained bookings of short- term work and high- profile longer term projects:
  •  More than USD 35 million booked for execution in 2012 and beyond;

 Backlog
Autonomous backlog at end Q2 2012 was USD 623 million (Q1 2012: USD 587 million) and USD 810 million including Fairstar as at 30 June 2012 excluding options on contracts:

  • USD 217 million for execution in 2012 (USD  101 million at end Q2 2011 for execution in 2011);
  •  USD 287 million for execution in 2013 (USD 200 million at end Q2 2011 for execution in 2012);
  •  USD 306 million for execution in 2014 and beyond (USD 170 million at end Q2 2011 for execution in 2013 and beyond).

 
 
Table 1: Key figures
Q2 2012          Q1 2012

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

$55M Berth Upgrade in Townsville Port

Townsville contractor CivilPlus Constructions has been awarded the design and construct tender for the primary wharf works component of Port of Townsville’s $55 million Berth 4 Upgrade project.

Container Weighing at Felixstowe Port

The Port of Felixstowe has confirmed that it will offer a container weighing service to ensure UK shippers are able to comply with new international regulations

Aker Joins Johan Sverdrup Phase 2 Study

Aker Solutions will deliver a concept study on a new processing platform for future phases of the Statoil-operated Johan Sverdrup North Sea field, Norway's largest oil find in three decades.

Finance

$55M Berth Upgrade in Townsville Port

Townsville contractor CivilPlus Constructions has been awarded the design and construct tender for the primary wharf works component of Port of Townsville’s $55 million Berth 4 Upgrade project.

Maersk Profit Down 82%

Danish shipping and energy conglomerate Maersk Group delivered a profit of USD 925m for the full year ending December 31st 2015, against USD 5.2bn reported in 2014, a drop of 82%.

I-Tech Gets Large Market Recognition of Selektope

Following the approval of Selektope under the EU’s Biocidal Products Regulation, developer I-Tech reports extraordinary uptake for antifouling coatings that include

 
 
Maritime Careers / Shipboard Positions Naval Architecture Offshore Oil Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
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: 0.1000 sec (10 req/sec)