Dolphin Group 1Q 2013 Results

MarineLink.com
Tuesday, May 28, 2013

Quarterly highlights - Q1 2013
• Revenues of $69.1 million, compared to $34.6 million in Q1 2012
• EBITDA of $22.9 million(33.1%) , improved from $2.6 million in Q1 2012
• EBIT of $13.8 million (20%), compared to negative $3.1 million in Q1 2012
• Net Income before tax of $10.6 million, compared to negative $1.4 million in Q1 2012
• Dolphin fleet were primarily allocated to exclusive contract work worth $60 million and with limited Multi-Client (MCS) investments of $4.8 million for the quarter
• Strong margin contribution from the high capacity 3D vessels Polar Duke and Polar Duchess, though less contribution from the lower capacity vessels
• Encouraging organic growth in Dolphin processing, external contract revenues of $1.9 million for Q1 confirming market acceptance.

Q1 2013 subsequent events
• Dolphin increase Loan Facility to $73 million to accommodate purchase of equipment for Geo Atlantic, to be delivered in January 2014
Seismic vessel capacity expansion on track, the high capacity 3D vessel, M/V Sanco Swift, is scheduled for delivery in July 2013

Atle Jacobsen, Dolphin Group CEO, commented, “Dolphin continues to deliver solid earnings from a fleet, which is soon to be doubled in size. We experience improved market conditions ahead and Dolphin becomes an even more attractive service provider as major clients experience our efficient operations with modern high capacity vessels. We see effective day-rates continue to increase, however for our clients, Dolphin vessels provide more seismic volume data for less money, which enable clients to better assess their overall exploration and production risks."

Further Atle Jacobsen (CEO) and Erik Hokholt (CFO) will give a presentation of the quarterly results at Hotel Continental, Stortingsgaten 24-26, and Oslo at 9:30 a.m. (CET). The presentation is open to the public.

The company’s full results and presentation can be viewed online here.

www.dolphingeo.com
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter February 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

SunEdison Restrained from 'Unusual' Asset Transfers

Solar company SunEdison Inc said a U.S. court has restrained the company from making any unusual asset transfers until a hearing in a lawsuit brought on by investors

Maersk to Scrap Ships at India's Alang Beaches, NGO Dismayed

Maersk Line said on Friday it had chosen four shipbreaking yards along India's Alang beaches to handle an increase in vessels that need to be scrapped, to the dismay

Teknotherm Marine Moves HVAC Arm to Bergen

Maritime heating, ventilation and air conditioning (HVAC) firm Teknotherm Marine has established a new subsidiary is established with the name Teknotherm Marine HVAC AS.

Finance

Brazil's CEEE to sell stakes in Wind Farms, Dams

Brazil's Companhia Estadual de Energia Elétrica (CEEE), a power utility controlled by the state of Rio Grande do Sul, will sell assets including stakes in wind farms,

DP World Bolsters Investment in India

DP World Pvt. Ltd, the world’s fourth biggest container port operator majority owned by the Dubai government, has plans to invest over $1 billion in India for augmenting its port-related operations.

SunEdison Restrained from 'Unusual' Asset Transfers

Solar company SunEdison Inc said a U.S. court has restrained the company from making any unusual asset transfers until a hearing in a lawsuit brought on by investors

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Navigation Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair 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: 0.1122 sec (9 req/sec)