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4TH QUARTER 2005 - CONTINUED STRONG PERFORMANCE
14.2.2006

Aker Yards ASA reported an EBITDA of NOK 343 million for the fourth quarter of 2005, which corresponds to an EBITDA margin of 7.0 percent. The margin for the full year 2005 was 6.2 percent. The order intake in the fourth quarter was NOK 7.8 billion, giving a total order backlog of NOK 38.9 billion at the end of the year, representing 112 vessels to be built at the groups' 13 yards. 8 vessels were completed and delivered in the 4th quarter. The activity level is expected to increase at the yards in 2006. The Board of Directors proposes to pay a dividend for 2005 of NOK 15.50 per share.

Aker Yards had revenues of NOK 4 896 million in the fourth quarter of 2005, compared with NOK 3 849 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 16 607 million for the whole year 2005.
 
Order intake in the fourth quarter was NOK 7 771 million, of which Cruise & Ferries and Offshore & Specialized Vessels contributed the major part. The order backlog at the close of the fourth quarter was NOK 38 897 million, compared with NOK 23 366 million at the end of the fourth quarter 2004.
 
Aker Yards achieved an EBITDA result of NOK 343 million in the fourth quarter of 2005, compared with NOK 173 million in the corresponding quarter of 2004. The EBITDA margin for the fourth quarter of 2005 was 7.0 percent. In 2005, EBITDA was NOK 1 024 million, compared to NOK 743 million in 2004.
 
The activity level is expected to increase at the yards in 2006.
The Board of Directors proposes to pay a dividend for 2005 of NOK 15.50 per share.
 
Please find enclosed the full version of the fourth quarter / preliminary annual 2005 report.
 
 
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Contact information:
 
Aker Yards ASA
Fjordalleen 16
P.O.Box 1523 Vika
0117 Oslo
Norway
Tel: + 47 24 13 00 00
 
Investor relations:
Tore Langballe,
SVP Corp. Communications and Investor Relations
Tel: + 47 24 13 01 30
Mob: + 47 90 77 78 41
 
 
 
 
Disclaimer
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.
 

 
   
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