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    Aker Yards reports increased order backlog

    Yard News // November 26, 2004
    Aker Yards in Norway has reported EBITDA of NKr 176 million in the third quarter, which corresponds to an EBITDA margin of 6.5 per cent. The margin so far this year is 7.2 per cent."

    Operations are developing according to plan, and the order intake in the third quarter was NKr 6.7 billion," said the company, noting that guidance for the full year 2004 has been increased to an EBITA margin level above 4 per cent before non-recurring items. The backlog is significantly improved, but the Group is still not at full capacity utilization.

    Aker Yards had operating revenues of NKr 2,702 million in the third quarter of 2004, compared with NKr 4,005 million in the corresponding period in 2003. The decrease is primarily a result of reduced activity in the market segments cruise and ferries andOSVs. The Group saw revenues of NKr 8,664 million in the first three quarters of the year.

    Order intake in the third quarter was NKr 6,684 million. The order backlog at the end of the third quarter was NKr 20,342 million, compared with NKr 17,016 million in the same period last year.

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