{"id":4226,"date":"2017-02-17T11:54:25","date_gmt":"2017-02-17T11:54:25","guid":{"rendered":"http:\/\/www.aqualisoffshore.com\/investor-news\/2016\/aqualis-asa-q4-2016-financial-results\/"},"modified":"2017-02-17T11:54:25","modified_gmt":"2017-02-17T11:54:25","slug":"aqualis-asa-q4-2016-financial-results-3","status":"publish","type":"post","link":"https:\/\/abl-group.com\/abl\/all-media\/news\/investor-news\/2017\/aqualis-asa-q4-2016-financial-results-3\/","title":{"rendered":"Aqualis ASA: Q4 2016 financial results"},"content":{"rendered":"<h3 class=\"hugin\">Oslo, Norway &#8211; February 17, 2017<\/h3>\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 6.2 million in Q4 2016, down 29% from Q4 2015<\/div>\n<\/li>\n<li class=\"hugin\">\n<div class=\"hugin\">Operating loss (EBIT) of USD 1.0 million and adjusted operating loss of USD 0.5 million<\/div>\n<\/li>\n<li class=\"hugin\">\n<div class=\"hugin\">Results impacted by goodwill impairments, downsizing related costs and weak market conditions in the oil and gas market<\/div>\n<\/li>\n<li class=\"hugin\">\n<div class=\"hugin\">Billing ratio for technical staff of 76 % in Q4 2016, up from 73% in Q3 2016<\/div>\n<\/li>\n<li class=\"hugin\">\n<div class=\"hugin\">Cost efficiency measures took effect throughout the quarter, but still behind the &#8220;curve&#8221;<\/div>\n<\/li>\n<li class=\"hugin\">\n<div class=\"hugin\">Offshore wind market is strong and new contracts have been secured<\/div>\n<\/li>\n<li class=\"hugin\">\n<div class=\"hugin\">Weak results for ADLER Solar as phase in of cost measures and new services continues<\/div>\n<\/li>\n<li class=\"hugin\">\n<div class=\"hugin\">Order backlog at USD 6.7 million<\/div>\n<\/li>\n<li class=\"hugin\">\n<div class=\"hugin\">Pipeline and bidding activity increasing over the past months<\/div>\n<\/li>\n<li class=\"hugin\">\n<div class=\"hugin\">Cash balance of USD 9.9 million at the end of Q4 2016<\/div>\n<\/li>\n<li class=\"hugin\">\n<div class=\"hugin\">Continued solid HSE performance and no lost time incidents (LTIs) during the quarter<\/div>\n<\/li>\n<\/ul>\n<p>David Wells, CEO of Aqualis ASA said:<br \/>\n<em>&#8220;Whilst the oil and gas market remains weak, we have seen signs of increased tender activity and there are indications that we have either reached or are near the bottom of this recession. Contract visibility remains short term forcing us to take further cost and operational measures to ensure profitability. These will continue to be phased in throughout H1 2017.<\/em><\/p>\n<p><em>We expect 2017 to remain challenging for the oil and gas industry and we need to remain alert and adapting quickly to the opportunities that the market presents to us.&#8221;<\/em><\/p>\n<p>For more information, please see the attached fourth quarter 2016 report.<br \/>\n<a href=\"http:\/\/aqualisbraemar.com\/wordpress\/wp-content\/uploads\/2017\/02\/Q4-2016-report-1.pdf\" target=\"_blank\" rel=\"noopener\">Q4 2016 report<\/a>\u00a0 | \u00a0<a href=\"http:\/\/aqualisbraemar.com\/wordpress\/wp-content\/uploads\/2017\/02\/Q4-2016-presentation-1.pdf\" target=\"_blank\" rel=\"noopener\">Q4 2016 presentation<\/a><\/p>\n<p><strong>Morning program<\/strong><br \/>\nA 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>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>The earnings release concerning the fourth quarter 2016 results and a corresponding slide presentation will be posted on <a href=\"http:\/\/www.newsweb.no\/newsweb\/search.do?headerSearch=&amp;searchCriteria.categoryIds=&amp;selectedPagenumber=1&amp;searchSubmitType=searchtype&amp;searchtype=full&amp;searchCriteria.issuerId=12348&amp;searchCriteria.issuerSign=AQUA&amp;searchCriteria.instrumentShortName=&amp;searchtype.full=Search+&amp;searchCriteria.categoryId=0&amp;searchCriteria.fromDate=01.01.2015&amp;searchCriteria.toDate=today&amp;_searchCriteria.infoRequiredOnly=&amp;_searchCriteria.oamMandatoryOnly=&amp;_searchCriteria.currentVersionOnly=&amp;_searchCriteria.activeIssuersOnly=&amp;searchCriteria.activeIssuersOnly=true&amp;_searchCriteria.osloMarketOnly=\">www.newsweb.no<\/a> and on Aqualis&#8217; web site <a href=\"http:\/\/www.aqualisbraemar.com\/\">www.aqualisbraemar.com<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<p>For further information, please contact:<\/p>\n<p><strong>Investors and financial media<\/strong><br \/>\nKim Boman, CFO, Aqualis ASA<br \/>\nTelephone: +47 959 63 912<br \/>\nEmail: kim.boman@aqualis.no<\/p>\n<p><strong>Other media enquiries<\/strong><br \/>\nEndre Johansen, Corporate Communications AS<br \/>\nTelephone: +47 41 61 06 05<br \/>\nEmail: endre.johansen@corpcom.no.<\/p>\n<p><strong>About Aqualis ASA<\/strong><br \/>\nAqualis 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 21 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","protected":false},"excerpt":{"rendered":"<p>Oslo, Norway &#8211; February 17, 2017 Key highlights Revenues of USD 6.2 million in Q4 2016, down 29% from Q4 2015 Operating loss (EBIT) of USD 1.0 million and adjusted operating loss of USD 0.5 million Results impacted by goodwill impairments, downsizing related costs and weak market conditions in the oil and gas market Billing [&hellip;]<\/p>\n","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":[12],"tags":[],"sector":[],"service":[],"company":[],"class_list":["post-4226","post","type-post","status-publish","format-standard","hentry","category-12"],"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: Q4 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\/2017\/aqualis-asa-q4-2016-financial-results-3\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Aqualis ASA: Q4 2016 financial results\" \/>\n<meta property=\"og:description\" content=\"Oslo, Norway &#8211; February 17, 2017 Key highlights Revenues of USD 6.2 million in Q4 2016, down 29% from Q4 2015 Operating loss (EBIT) of USD 1.0 million and adjusted operating loss of USD 0.5 million Results impacted by goodwill impairments, downsizing related costs and weak market conditions in the oil and gas market Billing [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/abl-group.com\/abl\/all-media\/news\/investor-news\/2017\/aqualis-asa-q4-2016-financial-results-3\/\" \/>\n<meta property=\"og:site_name\" content=\"ABL\" \/>\n<meta property=\"article:published_time\" content=\"2017-02-17T11:54:25+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=\"2 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\\\/2017\\\/aqualis-asa-q4-2016-financial-results-3\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/abl-group.com\\\/abl\\\/all-media\\\/news\\\/investor-news\\\/2017\\\/aqualis-asa-q4-2016-financial-results-3\\\/\"},\"author\":{\"name\":\"George Lenox\",\"@id\":\"https:\\\/\\\/abl-group.com\\\/abl\\\/#\\\/schema\\\/person\\\/1a54a8404066452ce3b217824eadc7f5\"},\"headline\":\"Aqualis ASA: Q4 2016 financial results\",\"datePublished\":\"2017-02-17T11:54:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/abl-group.com\\\/abl\\\/all-media\\\/news\\\/investor-news\\\/2017\\\/aqualis-asa-q4-2016-financial-results-3\\\/\"},\"wordCount\":489,\"publisher\":{\"@id\":\"https:\\\/\\\/abl-group.com\\\/abl\\\/#organization\"},\"articleSection\":[\"2017\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/abl-group.com\\\/abl\\\/all-media\\\/news\\\/investor-news\\\/2017\\\/aqualis-asa-q4-2016-financial-results-3\\\/\",\"url\":\"https:\\\/\\\/abl-group.com\\\/abl\\\/all-media\\\/news\\\/investor-news\\\/2017\\\/aqualis-asa-q4-2016-financial-results-3\\\/\",\"name\":\"Aqualis ASA: Q4 2016 financial results - 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