Kværner Profits Slip, Bulging Order Book

Press Release
Wednesday, February 13, 2013

Kværner ASA issue fourth quarter and preliminary annual financial results 2012.

Kvaerner reported operating revenues of NOK 2 930 million in the fourth quarter 2012. Earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to NOK 119 million, resulting in an EBITDA margin of 4.1 percent. The order backlog amounted to NOK 21 262 million.

Operating revenues in the fourth quarter 2012 amounted to NOK 2 930 million, compared with NOK 3 004 million for the fourth quarter 2011. Full year operating revenues totalled NOK 10 748 million, compared with NOK 13 295 for the full year 2011. The reduction from last year is mainly due to significant decrease in operating revenue from the International business area and the Downstream & Industrials segment.

The order intake in the fourth quarter totalled NOK 2 444 million compared to NOK 1 136 million in the fourth quarter 2011. At 31 December 2012, the order backlog amounted to NOK 21 262 million, which is a doubling from year end 2011.

"The record high order backlog provides a good foundation for the activity level over the next years. Furthermore, it provides us with a strong basis to optimise our execution and improve our competitiveness", says Jan Arve Haugan, President & CEO of Kvaerner.
 
Kvaerner is a specialised provider of engineering, procurement and construction (EPC) services for offshore platforms and onshore plants.

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

People & Company News

HK's COSCO International Reports Strong Profit Growth

For the  six months ended 30th June 2014, shipping services provider COSCO International has announced that its 2014 Interim Results show strong profit growth with Net Profit up 45% YOY.

Maersk Drilling Rig Team Train Local Talent

Maersk Drilling says that its 'Mærsk Deliverer' rig team has initiated seven local acceleration programmes in Angola. The goal is to train and develop local talent

BWTS SeaCURE Gains USCG AMS Acceptance

Evoqua Water Technologies LLC says that its SeaCURE Ballast Water Treatment System (BWTS) has been granted AMS Acceptance in all salinities. System highlights

Finance

HK's COSCO International Reports Strong Profit Growth

For the  six months ended 30th June 2014, shipping services provider COSCO International has announced that its 2014 Interim Results show strong profit growth with Net Profit up 45% YOY.

Asia–U.S. Container Lines to Introduce Freight Increase

The Transpacific Stabilization Agreement (TSA) informs that member container shipping lines are proposing an across-the board general rate increase (GRI) of at

Star Bulk to Acquire 34 Drybulk Vessels

Star Bulk entered into a definitive agreement with Excel Maritime Carriers Ltd., and as a result, will acquire 34 drybulk vessels for an aggregate of 29.917 million

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Salvage Ship Repair Winch
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: 0.1170 sec (9 req/sec)