Bourbon: net loss rises in H1.
(CercleFinance.com) - Bourbon has reported a net loss that has increased 63% to 170.
1 million euros over H1 2017, impacted by 50 million unrealised FX losses, and adjusted EBITDA that is down 55.7% at 59.6 million euros.
Again compared to the same period in 2016, the maritime services group saw its adjusted sales decline by 23.3% to 459 million euros. Cost control measures led to a 15.1% fall in direct and general costs.
“In this context, utilization rates can be expected to stabilize in the Subsea and Crew boats segments. The Deepwater offshore and Shallow water offshore segments will see a slight upturn in activity, however at prices that are expected to remain under heavy pressure,” the group warned.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
1 million euros over H1 2017, impacted by 50 million unrealised FX losses, and adjusted EBITDA that is down 55.7% at 59.6 million euros.
Again compared to the same period in 2016, the maritime services group saw its adjusted sales decline by 23.3% to 459 million euros. Cost control measures led to a 15.1% fall in direct and general costs.
“In this context, utilization rates can be expected to stabilize in the Subsea and Crew boats segments. The Deepwater offshore and Shallow water offshore segments will see a slight upturn in activity, however at prices that are expected to remain under heavy pressure,” the group warned.
Copyright (c) 2017 CercleFinance.com. All rights reserved.