Aqualis ASA : Fourth quarter and preliminary annual results 2014
(Thomson Reuters ONE) -
25 February 2015 - Marine and offshore engineering consultancy group Aqualis ASA
(Aqualis) reported revenues of USD 10.1 million in the fourth quarter 2014. EBIT
was negative at USD 0.9 million, while profit after tax ended at USD 1.2
million.
"It was a solid quarter in most our oil and gas regions, but the results were
adversely impacted by lower than expected activity levels from our Brazil
operations following the fall-out from the Petrobras corruption scandal.
However, this was partly offset by very strong performance in the marine and
renewables sectors," says David Wells, CEO of Aqualis ASA.
Operating revenues were USD 10.1 million in the fourth quarter of 2014. Earnings
before interest and tax (EBIT) was negative at USD 0.9 million. Profit after tax
was positive at USD 1.2 million, including an unrealised foreign exchange gain
of USD 2.1 million. Aqualis had a net operating cash flow of USD 0.6 million in
the fourth quarter. The order backlog was USD 19.7 million at the end of the
quarter.
At the end of December, the company had 196 full time equivalent employees - an
increase of 19 percent from the end of the previous quarter.
"We are still gaining market share from our competitors. As a result, we
continue to expand our workforce. Furthermore, during the fourth quarter we have
observed a noticeable increase in available high-quality senior engineers and
mariners in the market. We aim to capitalise on this and continue to selectively
pick staff that will add value to our business," says David Wells.
Full-year results
Consolidated operating revenues for 2014 was USD 31.9 million. EBIT was negative
at USD 2.1 million. EBIT adjusted for USD 1.4 million in one-off costs related
to restructuring and listing was negative 0.7 million. Profit after tax adjusted
for costs related to restructuring and listing was USD 1.1 million. Net cash
flow from operating activities was USD 0.4 million. As of 31 December 2014, the
group had cash and cash equivalents of USD 21.8 million and no interest-bearing
debt.
As a relatively new company, Aqualis had limited operational activity in 2013.
Please find enclosed the interim report and presentation for the fourth quarter
and preliminary full-year results 2014 or see www.newsweb.no
ENDS
For further information, please contact:
Investors
Christian Opsahl, CFO, tel: +47 901 101 53, email: christian.opsahl(at)aqualis.no.
Media
Endre Johansen, Corporate Communications AS, tel: +47 41 61 06 05, email:
endre.johansen(at)corpcom.no.
About Aqualis ASA
Aqualis ASA (OSE: Aqua) is a public company that, through its subsidiaries,
offers marine and engineering consultancy services to the offshore oil, gas and
renewable sectors globally. The group employs approximately 196 experienced
consultants across 13 offices in 10 countries worldwide. Aqualis ASA operates
under three different brands: Aqualis Offshore, Tristein and Offshore Wind
Consultants. Aqualis Offshore is a specialized offshore marine and engineering
consultancy firm, focusing on the shallow and deep-water offshore segments of
the oil and gas industry. Tristein is a provider of marine operations for the
offshore oil, gas and wind industries. Offshore Wind Consultants is a globally
focused consultancy providing independent services to the offshore renewables
industry.
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Aqualis ASA - Q4 2014 report:
http://hugin.info/162549/R/1896810/673048.pdf
Aqualis ASA - Q4 2014 presentation:
http://hugin.info/162549/R/1896810/673049.pdf
This announcement is distributed by GlobeNewswire on behalf of
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(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: Aqualis ASA via GlobeNewswire
[HUG#1896810]
Datum: 25.02.2015 - 07:30 Uhr
Sprache: Deutsch
News-ID 373990
Anzahl Zeichen: 4682
contact information:
Town:
Oslo
Kategorie:
Business News
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