Kværner ASA: Third quarter results 2013
(Thomson Reuters ONE) -
25 October 2013 - Kvaerner reported operating revenues of NOK 3 383 million in
the third quarter 2013, compared to NOK 2 430 million in the third quarter of
2012. Earnings before interest, tax, depreciation and amortisation (EBITDA)
amounted to NOK 166 million, compared to NOK 109 million in the same quarter
last year. The EBITDA margin was 4.9 percent, up from 4.5 percent in the third
quarter 2012. The order backlog amounted to NOK 26.9 billion at the end of the
third quarter.
"The activity in the third quarter has been very high on all projects. Our main
focus is to deliver these projects as agreed with our customers. We have
completed the last part of the Nordsee Ost project, which included 48 steel
jackets for offshore windmills. Our capacity utilisation is very good through
2013 and into the first quarter of 2014," says Jan Arve Haugan, President & CEO
of Kvaerner.
Order intake in the third quarter 2013 totalled NOK 1 690 million, including the
scope of work of jointly controlled entities. This compares to NOK 1 438 million
in the third quarter 2012. As of 30 September 2013 the order backlog, including
the scope of work of jointly controlled entities, amounted to NOK 26.9 billion.
In addition to the high activity within project execution, Kvaerner is also in
the process of implementing a series of initiatives to further strengthen
efficiency and competitiveness.
"I see strong commitment within the organisation for our improvement processes.
Firstly, we are attacking our own productivity through concrete improvement
measures. Secondly, we are putting efforts on this with our partners and
subcontractors. Through this, we are strengthening our ability to deliver higher
value solutions to the customers than they get from our competitors, while at
the same time improving our own effectiveness and costbase. We expect to see
results of these efforts in the next round of bids, both in Norway and
internationally," Haugan concludes.
In line with the dividend policy, a cash dividend of NOK 0.58 per share was paid
in October 2013.
The full report and presentation can be downloaded below and at
www.kvaerner.com.
ENDS
For further information, please contact:
Investor relations:
Ingrid Aarsnes, SVP Investor Relations, Kvaerner, Tel: +47 67 59 50 46, Mob:
+47 950 38 364
Media:
Odd Naustdal, VP Communications, Kvaerner, Tel: +47 53 41 81 03, Mob:
+47 905 76 079.
About Kvaerner:
With approximately 3 000 HSSE-focused and experienced employees, Kvaerner is a
specialised provider of engineering, procurement and construction (EPC) services
for offshore platforms and onshore plants. Kværner ASA, through its subsidiaries
and affiliates ("Kvaerner"), is an international contractor that plans and
realises some of the world's most demanding projects as a preferred partner for
upstream and downstream oil and gas operators, industrial companies and other
engineering and fabrication contractors.
In 2012, the Kvaerner group had consolidated annual revenues of close to NOK 11
billion and the company had an order backlog at 30 September of almost NOK 27
billion. Kvaerner was publicly listed with the ticker "KVAER" at the Oslo Stock
Exchange on 8 July 2011. For further information, please visit www.kvaerner.com
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Third quarter results 2013 Presentation:
http://hugin.info/134981/R/1738108/583009.pdf
Third quarter results 2013 Report:
http://hugin.info/134981/R/1738108/583005.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Kværner ASA via Thomson Reuters ONE
[HUG#1738108]
Unternehmensinformation / Kurzprofil:
Datum: 25.10.2013 - 07:01 Uhr
Sprache: Deutsch
News-ID 309322
Anzahl Zeichen: 4530
contact information:
Town:
Fornebu
Kategorie:
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