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Koninklijke Boskalis Westminster NV H1 Net Operating Profit At EUR 34.5 Million


Thursday, 16 Aug 2018 

Aug 16 (Reuters) - Koninklijke Boskalis Westminster NV ::H1 NET OPERATING PROFIT: EUR 34.5 MILLION.H1 EBITDA: EUR 167 MILLION.OUTLOOK FOR 2018 * MARKET PICTURE UNCHANGED.H1 ORDER BOOK: EUR 3.9 BILLION.H1 REVENUE: EUR 1.2 BILLION.OUTLOOK 2018: PROFIT OUTLOOK: SHARP IMPROVEMENT IN NET OPERATING PROFIT COMPARED TO H1.SAYS OFFSHORE CONTRACTING ACTIVITIES SUCH AS SEABED INTERVENTION AND CABLE-LAYING ALSO MADE A GOOD CONTRIBUTION TO RESULT.LOOKING AHEAD WE ARE MODERATELY OPTIMISTIC.CAPITAL EXPENDITURE IN 2018 IS EXPECTED TO BE AROUND EUR 250 MILLION.SAYS RESULT OF TOWAGE & SALVAGE IS NOT EXPECTED TO MATERIALLY CHANGE IN SECOND HALF OF YEAR.SAYS EXPECTS A SHARP IMPROVEMENT IN NET OPERATING PROFIT IN SECOND HALF OF 2018 RELATIVE TO FIRST HALF YEAR.SAYS CAPITAL EXPENDITURE IN 2018 IS EXPECTED TO BE AROUND EUR 250 MILLION, EXCLUDING ACQUISITIONS.SAYS AT END OF PERIOD BOSKALIS HAD A MODEST NET DEBT POSITION OF EUR 239 MILLION AND COMFORTABLY MET ITS FINANCIAL COVENANTS.TERMINATES LOSS-MAKING LOW-END TRANSPORT ACTIVITIES.OFFSHORE ENERGY: OLDER TRANSPORT VESSELS AT LOW END OF MARKET ARE LOSS-MAKING, CO TO EXIT THIS MARKET SEGMENT.OFFSHORE ENERGY: EXITING LOW END SEGMENT WILL RESULT IN IMPROVEMENT IN OPERATING RESULT OF OVER EUR 25 MILLION ON ANNUAL BASIS..H1 EBITDA EUR 199 MILLION IN COMPANY-COMPILED CONSENSUS.H1 REVENUE EUR 1.1 BILLION IN COMPANY-COMPILED CONSENSUS. 

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