Aker Yards ASA reported an EBITDA of NOK 357 million for the first quarter of 2006, an increase of 125 percent compared with the first quarter of 2005. The order intake in the first quarter was NOK 14.3 billion, almost a doubling from the previous quarter, giving a total order backlog of NOK 47.9 billion at the end of the quarter, representing 123 vessels to be built at the groups' 13 yards. Eight vessels were completed and delivered in the first quarter. The activity level is expected to remain high in 2006 and onwards.
Aker Yards had revenues of NOK 5 397 million in the first quarter of 2006, an increase of 57 percent compared with NOK 3 438 million in the corresponding period of 2005. High activity in all three business areas is contributing to the positive development.
Order intake in the first quarter was NOK 14.3 billion, of which Cruise & Ferries and Offshore & Specialized Vessels contributed the major part. The Genesis vessel ordered by Royal Caribbean represented more than half the intake. The order backlog at the close of the first quarter was NOK 47 868 million, compared with NOK 31 487 million at the end of the first quarter 2005.
Aker Yards achieved an EBITDA result of NOK 357 million in the first quarter of 2006, compared with NOK 159 million in the corresponding quarter of 2005. The EBITDA margin for the first quarter of 2006 was 6.6 percent.
The activity level is expected to remain high in 2006 and onwards.
Please find enclosed the full version of the first quarter 2006 report.
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Aker Yards ASA
P.O.Box 1523 Vika
Tel: + 47 24 13 00 00
SVP Corp. Communications and Investor Relations
Tel: + 47 24 13 01 30
Mob: + 47 90 77 78 41
This press release includes and is based, inter alia, on forward-looking information and statements that are subject to risks and uncertainties that could cause actual results to differ. Such forward-looking information and statements are based on current expectations, estimates and projections about global economic conditions, the economic conditions of the regions and industries that are major markets for Aker Yards ASA and its subsidiaries and affiliates (the "Aker Yards Group") lines of business. These expectations, estimates, and projections are generally identifiable by statements containing words such as "expects," "believes," "estimates" or similar expressions. Important factors that could cause actual results to differ materially from those expectations include, among others, economic and market conditions in the geographic areas and industries that are or will be major markets for the Aker Yards Group's businesses, oil prices, market acceptance of new products and services, changes in governmental regulations, interest rates, fluctuations in currency exchange rates and such other factors as may be discussed from time to time. Although Aker Yards ASA believes that its expectations and the information in this Press release were based upon reasonable assumptions at the time when they were made, it can give no assurance that those expectations will be achieved or that the actual results will be as set out in this Press release. Neither Aker Yards ASA nor any other company within the Aker Yards Group is making any representation or warranty, expressed or implied, as to the accuracy, reliability or completeness of the information in the Press release, and neither Aker Yards ASA, any other company within the Aker Yards Group nor any of their directors, officers or employees will have any liability to you or any other persons resulting from your use of the information in the Press release.
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