Aker Yards ASA reported an EBITDA of NOK 282 million for the third quarter of 2005, which corresponds to an EBITDA margin of 6.7 percent. The margin year to date is 5.8 percent. The order intake in the third quarter was NOK 3.5 billion, giving a total order backlog of NOK 35.5 billion at the end of the quarter, representing 108 vessels to be built at the groups' 13 yards. 12 vessels were completed and delivered in the quarter. For the full year 2005, Aker Yards foresees a growth in revenues to a level in the range of NOK 16-18 bn, and aims to have an EBITDA result above the level of 2004.
Aker Yards had revenues of NOK 4 219 million in the third quarter of 2005, compared with NOK 2 702 million in the corresponding period of 2004. High activity in all three business areas are contributing to the positive development. Aker Yards saw revenues of NOK 11 710 million for the first three quarters of 2005.
Order intake in the third quarter was NOK 3 540 million, of which Cruise & Ferries and Offshore & Specialized Vessels contributed the major part. The order backlog at the close of the third quarter was NOK 35 457 million, compared with NOK 20 342 million at the end of the third quarter 2004.
Aker Yards achieved an EBITDA result of NOK 282 million in the third quarter of 2005, compared with NOK 173 million in the corresponding quarter of 2004. The EBITDA margin for the third quarter of 2005 was 6.7 percent. In the first nine months of 2005, EBITDA was NOK 681 million, compared to NOK 611 million in 2004.
For the full year 2005, Aker Yards foresees a growth in revenues to a level in the range of NOK 16-18 bn, and aims to have an EBITDA result above the level of 2004.
Please find enclosed the full version of the third quarter 2005 report.
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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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