Kværner ASA Announces Consolidated Earnings Results for the Second Quarter and Six Months of 2018; Provides Earnings Guidance for 2018
For the six months, the company reported total revenue and other income of NOK 3,740 million against NOK 3,056 million a year ago. EBITDA was NOK 283 million against NOK 327 million a year ago. Operating profit was NOK 230 million against NOK 275 million a year ago. Profit before tax was NOK 204 million against NOK 278 million a year ago. Profit from continuing operations was NOK 153 million NOK 0.57 basic and diluted per share against NOK 202 million NOK 0.76 basic and diluted per share a year ago. Net profit attributable to equity holders of the parent company - Kværner ASA were NOK 157 million or NOK 0.59 basic and diluted per share against NOK 223 million or NOK 0.84 basic and diluted per share a year ago. Cash flow from operating activities was NOK 322 million against cash flow used in operating activities of NOK 85 million a year ago. Capital expenditure was NOK 100 million against NOK 17 million a year ago. Adjusted EBITDA was NOK 293 million against NOK 321 million a year ago.
The company maintains the outlook for 2018 with full year gross revenue of more than NOK 7 billion and full year EBITDA margins lower than in 2017.