Aker Yards Reports Strong Growth
Aker Yards ASA reported an EBITDA of NOK 401 million for the fourth quarter of 2006, an increase of 15 percent compared with the fourth quarter of 2005. The EBITDA result for 2006 was NOK 1 443 million, up 40 percent from 2005. Earnings per share (EPS) were NOK 21.77 for the quarter, and NOK 46.56 for the full year. Order intake in the fourth quarter was NOK 8906 million, giving an order backlog of NOK 79,420 million at the end of the quarter, comprising 149 vessels. Aker Yards had revenues of NOK 7 815 million in the fourth quarter of 2006, an increase of 60 percent compared with NOK 4 897 million in the corresponding period of 2005. High activity in all three business areas and the acquisition of new yards contributed to the development.
Aker Yards to Set up in Asia
Aker Yards is taking a strategic position in the fast growing Asian market for offshore vessels by setting up a shipyard in Vietnam. The shipyard will be a joint venture between Aker Yards (70%) and Amanda Group (30%). The Amanda Group with headquarter in Singapore has extensive industrial experience in Vietnam. The shipyard will be located in Vung Tau, centrally located in the heart of Vietnams growing offshore operations. The new yard in Vietnam will strengthen Aker Yards ability to serve its international customers in the region. Aker Yards will invest USD 16 mill over a period of three years. The yard will deliver the first vessel in 2009, and will in full operation have an annual capacity of 3-4 vessels, dependent of vessel type and size.
