{"id":3108,"date":"2016-08-25T09:58:50","date_gmt":"2016-08-25T08:58:50","guid":{"rendered":"http:\/\/aqualisoffshore.com\/2016\/aqualis-asa-q2-2016-financial-results\/"},"modified":"2016-08-25T09:58:50","modified_gmt":"2016-08-25T08:58:50","slug":"aqualis-asa-q2-2016-financial-results","status":"publish","type":"post","link":"https:\/\/abl-group.com\/abl\/all-media\/news\/investor-news\/2016\/aqualis-asa-q2-2016-financial-results\/","title":{"rendered":"Aqualis ASA : Q2 2016 financial results"},"content":{"rendered":"<p class=\"hugin\"><!--more-->Oslo, Norway &#8211; August 25, 2016:<\/p>\n<div class=\"hugin\"><\/div>\n<div class=\"hugin\"><strong>Key highlights<\/strong><\/div>\n<ul class=\"hugin\" type=\"disc\">\n<li class=\"hugin\">\n<div class=\"hugin\">Revenues of USD 8.2 million in Q2 2016 vs USD 11.4 million in Q2 2015<\/div>\n<\/li>\n<li class=\"hugin\">\n<div class=\"hugin\">The activity level and revenues increased in most regions from Q1 2016<\/div>\n<\/li>\n<li class=\"hugin\">\n<div class=\"hugin\">Operating loss (EBIT) of USD 0.8 million in Q2 2016 vs EBIT of USD 0.0 million in Q2 2015<\/div>\n<\/li>\n<li class=\"hugin\">\n<div class=\"hugin\">Results impacted by weak performance at the beginning of the quarter and costs of USD 0.1 million related to provision for legal case. Cost efficiency measures continued to take effect throughout the quarter<\/div>\n<\/li>\n<li class=\"hugin\">\n<div class=\"hugin\">Billing ratio increased from 67% Q1 2016 to 75% in Q2 2016 due to improved operational performance and capacity adjustments<\/div>\n<\/li>\n<li class=\"hugin\">\n<div class=\"hugin\">Order backlog maintained at approximately USD 10 million (3rd consecutive quarter)<\/div>\n<\/li>\n<li class=\"hugin\">\n<div class=\"hugin\">High activity within offshore wind market and new contract wins<\/div>\n<\/li>\n<li class=\"hugin\">\n<div class=\"hugin\">ADLER Solar results impacted by lack of larger projects and introduction of new services<\/div>\n<\/li>\n<li class=\"hugin\">\n<div class=\"hugin\">Cash balance at the end of quarter of USD 11.7 million vs USD 13.2 million a quarter earlier<\/div>\n<\/li>\n<li class=\"hugin\">\n<div class=\"hugin\">Continued solid HSE performance, no lost time incidents during the quarter<\/div>\n<\/li>\n<li class=\"hugin\">\n<div class=\"hugin\">175 employees vs 193 a quarter earlier<\/div>\n<\/li>\n<\/ul>\n<p class=\"hugin\">David Wells, CEO of Aqualis ASA said:<\/p>\n<p class=\"hugin\"><i class=\"hugin\">We have made progress during the quarter to improve our profitability, but not enough. The effects of measures implemented will continue to take effect throughout 2016, and we will continue to take steps to improve our profitability and competitiveness. I am pleased that we managed to improve the activity level in Q2 2016 and increase the billing ratio.<\/i><\/p>\n<div class=\"hugin\"><i class=\"hugin\">The contract visibility is short term and being adaptive and having the ability to respond quickly to market changes is the key to manage the business successfully. The remainder of 2016 and into 2017 is going to be challenging for the oil and gas industry.&#8221;<\/i><\/div>\n<p class=\"hugin\">For more information, please see the attached second quarter 2016 report.<\/p>\n<p class=\"hugin\">Morning program:<\/p>\n<div class=\"hugin\">\n<p>A presentation is scheduled the same day at 8:00 am CET at Swedbank&#8217;s office at Filipstad Brygge 1, 0252 Oslo, Norway.<\/p>\n<p class=\"hugin\">The presentation, held in English, will be webcasted live and available for replay shortly after. To watch the webcast over the internet, please visit Aqualis&#8217; web site, www.aqualis.no, at least 10 minutes early to to download and install any necessary software.<\/p>\n<p class=\"hugin\">The earnings release concerning the second quarter 2016 results and a corresponding slide presentation will be posted on www.newsweb.no and on Aqualis&#8217; web site <a href=\"http:\/\/www.aqualis.no\" target=\"_blank\" rel=\"noopener\">www.aqualis.no<\/a>.<\/p>\n<p class=\"hugin\"><a href=\"http:\/\/aqualisbraemar.com\/wordpress\/wp-content\/uploads\/2016\/08\/Aqualis-Q2-2016-Report.pdf\" rel=\"\">Aqualis Q2 2016 Report<\/a><\/p>\n<p class=\"hugin\"><a href=\"http:\/\/aqualisbraemar.com\/wordpress\/wp-content\/uploads\/2016\/08\/Aqualis-Q2-2016-Presentation.pdf\" rel=\"\">Aqualis Q2 2016 Presentation<\/a><\/p>\n<p class=\"hugin\">For further information, please contact:<\/p>\n<p class=\"hugin\"><strong>Investors and financial media:<\/strong><br class=\"hugin\" \/>Kim Boman, CFO, Aqualis ASA<br class=\"hugin\" \/>Telephone: +47 959 63 912<br class=\"hugin\" \/>Email:\u00a0<a href=\"mailto:kim.boman@aqualis.no\"><span class=\"s3\">kim.boman@aqualis.no<\/span><\/a><\/p>\n<p class=\"hugin\"><strong>Other media enquiries:<\/strong><br class=\"hugin\" \/>Endre Johansen, Corporate Communications AS<br class=\"hugin\" \/>Telephone: +47 41 61 06 05, <br class=\"hugin\" \/> Email:\u00a0<a href=\"mailto:endre.johansen@corpcom.no\"><span class=\"s3\">endre.johansen@corpcom.no<\/span><\/a><\/p>\n<p class=\"hugin\"><strong>About Aqualis ASA<\/strong><br class=\"hugin\" \/>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: AqualisBraemar, Offshore Wind Consultants and ADLER Solar. AqualisBraemar is a specialised 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.<\/p>\n<div id=\"suggestion-block\" class=\"hugin\">\n<div class=\"hugin\" style=\"float: none;\">This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[11],"tags":[],"sector":[],"service":[],"company":[],"class_list":["post-3108","post","type-post","status-publish","format-standard","hentry","category-11"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.6 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Aqualis ASA : Q2 2016 financial results - ABL<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/abl-group.com\/abl\/all-media\/news\/investor-news\/2016\/aqualis-asa-q2-2016-financial-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Aqualis ASA : Q2 2016 financial results\" \/>\n<meta property=\"og:url\" content=\"https:\/\/abl-group.com\/abl\/all-media\/news\/investor-news\/2016\/aqualis-asa-q2-2016-financial-results\/\" \/>\n<meta property=\"og:site_name\" content=\"ABL\" \/>\n<meta property=\"article:published_time\" content=\"2016-08-25T08:58:50+00:00\" \/>\n<meta name=\"author\" content=\"George Lenox\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"George Lenox\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/abl-group.com\\\/abl\\\/all-media\\\/news\\\/investor-news\\\/2016\\\/aqualis-asa-q2-2016-financial-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/abl-group.com\\\/abl\\\/all-media\\\/news\\\/investor-news\\\/2016\\\/aqualis-asa-q2-2016-financial-results\\\/\"},\"author\":{\"name\":\"George Lenox\",\"@id\":\"https:\\\/\\\/abl-group.com\\\/abl\\\/#\\\/schema\\\/person\\\/1a54a8404066452ce3b217824eadc7f5\"},\"headline\":\"Aqualis ASA : Q2 2016 financial results\",\"datePublished\":\"2016-08-25T08:58:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/abl-group.com\\\/abl\\\/all-media\\\/news\\\/investor-news\\\/2016\\\/aqualis-asa-q2-2016-financial-results\\\/\"},\"wordCount\":540,\"publisher\":{\"@id\":\"https:\\\/\\\/abl-group.com\\\/abl\\\/#organization\"},\"articleSection\":[\"2016\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/abl-group.com\\\/abl\\\/all-media\\\/news\\\/investor-news\\\/2016\\\/aqualis-asa-q2-2016-financial-results\\\/\",\"url\":\"https:\\\/\\\/abl-group.com\\\/abl\\\/all-media\\\/news\\\/investor-news\\\/2016\\\/aqualis-asa-q2-2016-financial-results\\\/\",\"name\":\"Aqualis ASA : Q2 2016 financial results - 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