{"id":937,"date":"2014-10-29T08:00:33","date_gmt":"2014-10-29T08:00:33","guid":{"rendered":"http:\/\/aqualis.no\/?p=937"},"modified":"2014-10-29T08:00:33","modified_gmt":"2014-10-29T08:00:33","slug":"aqualis-asa-third-quarter-results-2014","status":"publish","type":"post","link":"https:\/\/abl-group.com\/abl\/all-media\/news\/investor-news\/2014\/aqualis-asa-third-quarter-results-2014\/","title":{"rendered":"Aqualis ASA : Third quarter results 2014"},"content":{"rendered":"

<\/p>\n

29 October 2014 – Marine and offshore engineering consultancy group Aqualis ASA\u00a0(Aqualis) reported revenues of USD 10.7 million in the third quarter 2014.\u00a0Adjusted EBIT was USD 0.3 million. Order backlog stood at USD 22 million at the\u00a0end of the third quarter.<\/p>\n

“We continue our geographical expansion as well as growth in revenues and\u00a0consultants. We signed important contracts and frame agreements during the\u00a0quarter, and were successfully listed as a fully-fledged marine and offshore\u00a0engineering group. Our order book also developed positively. In sum, it has been\u00a0a solid and eventful quarter,” says David Wells, CEO of Aqualis ASA.<\/p>\n

Operating revenues were USD 10.7 million in the third quarter of 2014. Adjusted\u00a0earnings before interest and tax (EBIT) was USD 0.3 million. EBIT was negative\u00a0at USD 1.1 million after USD 1.4 million in one-off costs related to corporate\u00a0restructuring and listing on the Oslo stock exchange. Operating cash flow,\u00a0adjusted for one-off items, was positive at USD 0.2million. As of 30 September\u00a02014, the group had cash and cash equivalents of USD 21.4 million and no\u00a0interest-bearing debt.<\/p>\n

A key milestone in the third quarter was the signing of a contract with Saudi\u00a0Aramco, the world’s largest energy company, for rig moving services in the\u00a0Arabian Gulf.<\/p>\n

At the end of the third quarter, Aqualis’ order backlog from fixed contracts was\u00a0USD 22 million – an increase of 16 percent from the previous quarter. More than\u00a050 percent of this work is scheduled for completion from 2015 and onwards.<\/p>\n

“We have a healthy work backlog and we foresee continued strong activity levels\u00a0in all market segments going forward. As a result, we expect continued growth in\u00a0Q4 and throughout 2015,” says David Wells.<\/p>\n

Aqualis ASA Q3 2014 report<\/a><\/p>\n

Aqualis ASA Q3 2014 presentation<\/a><\/p>\n

ENDS<\/p>\n

For further information, please contact:<\/p>\n

Investors
\nChristian Opsahl, CFO
\nTel: +47 901 101 53
\nE-mail: christian.opsahl@aqualisbraemar.com<\/a><\/p>\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":[3],"tags":[],"sector":[],"service":[],"company":[],"class_list":["post-937","post","type-post","status-publish","format-standard","hentry","category-3"],"yoast_head":"\nAqualis ASA : Third quarter results 2014 - 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\/2014\/aqualis-asa-third-quarter-results-2014\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Aqualis ASA : Third quarter results 2014\" \/>\n<meta property=\"og:url\" content=\"https:\/\/abl-group.com\/abl\/all-media\/news\/investor-news\/2014\/aqualis-asa-third-quarter-results-2014\/\" \/>\n<meta property=\"og:site_name\" content=\"ABL\" \/>\n<meta property=\"article:published_time\" content=\"2014-10-29T08:00:33+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=\"1 minute\" \/>\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\\\/2014\\\/aqualis-asa-third-quarter-results-2014\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/abl-group.com\\\/abl\\\/all-media\\\/news\\\/investor-news\\\/2014\\\/aqualis-asa-third-quarter-results-2014\\\/\"},\"author\":{\"name\":\"George Lenox\",\"@id\":\"https:\\\/\\\/abl-group.com\\\/abl\\\/#\\\/schema\\\/person\\\/1a54a8404066452ce3b217824eadc7f5\"},\"headline\":\"Aqualis ASA : Third quarter results 2014\",\"datePublished\":\"2014-10-29T08:00:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/abl-group.com\\\/abl\\\/all-media\\\/news\\\/investor-news\\\/2014\\\/aqualis-asa-third-quarter-results-2014\\\/\"},\"wordCount\":298,\"publisher\":{\"@id\":\"https:\\\/\\\/abl-group.com\\\/abl\\\/#organization\"},\"articleSection\":[\"2014\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/abl-group.com\\\/abl\\\/all-media\\\/news\\\/investor-news\\\/2014\\\/aqualis-asa-third-quarter-results-2014\\\/\",\"url\":\"https:\\\/\\\/abl-group.com\\\/abl\\\/all-media\\\/news\\\/investor-news\\\/2014\\\/aqualis-asa-third-quarter-results-2014\\\/\",\"name\":\"Aqualis ASA : Third quarter results 2014 - 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