Aqualis ASA: Q1 2017 financial results
Donnerstag, 27.04.2017 07:05 von GlobeNewswire
Aqualis Delivers Strong Operational Performance in Challenging Market and A Turnaround Quarter
Oslo, Norway - April 27, 2017
- Revenues of USD 7.6 million in Q1 2017, increase by 10% from Q1 2016
- Operating profit (EBIT) of USD 0.2 million in Q1 2017 vs. loss of USD 1.5 million in Q1 2016
- Billing ratio for technical staff of 78% in Q1 2017, up from 76% in Q4 2016
- Profitability measures took effect throughout the quarter
- Offshore wind market remains active and new contracts have been secured
- Weak results for ADLER Solar due mainly to weather conditions and project delays
- Order backlog at USD 10.0 million vs USD 6.7 million at the end of Q4 2016
- Bidding activity increasing
- Cash balance of USD 9.6 million at the end of Q1 2017
- Continued solid HSE performance and no lost time incidents (LTIs) during the quarter
David Wells, CEO of Aqualis ASA said:
For further information, please contact:
Investors and financial media;
Kim Boman, CFO, Aqualis ASA
Telephone: +47 959 63 912
Email: kim.boman@aqualis.no
Other media enquiries:
Endre Johansen, Corporate Communications AS
Telephone: +47 41 61 06 05,
Email: endre.johansen@corpcom.no.
About Aqualis ASA
Aqualis ASA (OSE: Aqua) is a public company that, through its subsidiaries and associates, offers energy consultancy services to the global oil and gas, wind and solar sectors. The group employs experienced consultants in 22 offices in 15 countries worldwide. Aqualis ASA operates under three different brands: Aqualis Offshore, Offshore Wind Consultants and ADLER Solar. Aqualis Offshore is a specialized offshore marine and engineering consultancy firm, focusing on the shallow and deep-water offshore segments of the oil and gas industry. Offshore Wind Consultants is a globally focused consultancy providing independent services to the offshore renewables industry. ADLER Solar is a technical and engineering service provider for the global solar industry. Aqualis owns 49.9 percent of ADLER Solar.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Aqualis ASA via Globenewswire