Aker Yards ASA reported an EBITDA of NOK 159 million for the first quarter of 2005, which corresponds to an EBITDA margin of 4.6 percent. The order intake in the first quarter was NOK 11.4 billion, giving a total order backlog of NOK 31.5 billion at the end of the quarter. Aker Yards confirms its guidance for 2005 that foresees a growth in revenues compared with 2004, and aims to have an EBITDA result somewhat above the level of 2004.
Aker Yards had revenues of NOK 3 438 million in the first quarter of 2005, compared with NOK 2 645 million in the corresponding period of 2004. The increase is primarily a result of growing activity in Merchant Vessels, and in Offshore & Specialized Vessels
Order intake in the first quarter was NOK 11 445 million. The order backlog at the close of the first quarter was NOK 31 487 million, compared with NOK 18 282 million at the end of first quarter 2004. The order backlog in Cruise & Ferries is now NOK 13 971 million. The order intake continues to improve in all business areas.
Aker Yards achieved an EBITDA of NOK 159 million in the first quarter of 2005, compared with NOK 222 million in the corresponding quarter of 2004. The EBITDA margin for the first quarter of 2005 was 4.6 percent.
For the full year 2005, Aker Yards foresees a growth in revenues, compared with 2004, and aims to have an EBITDA result somewhat above the level of 2004.
Please find enclosed the full version of the first quarter 2005 report.
--------------- END -----------------
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.
Aker Yards ASA undertakes no obligation to publicly update or revise any forward-looking information or statements in the press release, other than what is required by law.
The Aker Yards Group consists of many legally independent entities, constituting their own separate identities. Aker Yards is used as the common brand or trade mark for most of these entities. In this press release we may sometimes use "Aker Yards," "Group, "we," or "us," when we refer to Aker Yards companies in general or where no useful purpose is served by identifying any particular Aker Yards company.