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 Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

GTT Earns Five AIPs for Multi-gas Membranes

Gaztransport & Technigaz (GTT), designer of membrane containment systems for the maritime transportation and storage of LNG (Liquefied Natural Gas) announced five

‘Green’ Hybrid-powered Research Vessel Christened

The Maritime Aquarium at Norwalk christened a larger, “greener” new research vessel on Friday, September 26 in preparation for launching a new era in examining,

WCI to Move Offices to Washington DC

In an effort to better facilitate WCI’s lobbying work on Capitol Hill, we will be moving offices from Arlington, Virginia to 499 S. Capitol Street, SW, Suite 401,

Finance

Norvestor to Become PG’s Largest Shareholder

Norvestor VI, L.P., a fund advised by Norvestor Equity AS, announced it has signed an agreement to invest in Ing Per Gjerdrum AS including its subsidiaries PG Hydraulics AS and PG Construction AS.

GasLog Closes First Option Vessels Dropdown

GasLog Ltd.  announced today the closing of the sale of two modern liquefied natural gas (“LNG”) carriers, the Methane Jane Elizabeth and Methane Rita Andrea,

Brent Holds Above $97, Eyes Worst Quarter Since 2012

Brent crude futures hovered above $97 a barrel on Tuesday, aided by firm U.S. and Chinese data, but the oil benchmark was on track for its deepest quarterly drop

 
 
Maritime Contracts Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Repair
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: 0.2092 sec (5 req/sec)