Brief: AKVA Says Expected EBIT For Q4 Is Below Minus 100 MNOK

Akva ASA

07/02/2020 07:27

Feb 7 (Reuters) - Akva Group ASA  AKVA.OL :
    * LOSS IN Q4 IS SIGNIFICANT,
    * UNDERLYING CAUSES OF LOSSES IS AMONGST OTHERS DUE TO COST OVERRUNS IN PROJECTS
    * EXPECTED EBIT FOR Q4 IS BELOW MINUS 100 MNOK AND FOR FULL YEAR 2019 EXPECTATION IS AN EBIT
OF
AROUND 60 MNOK.
    * EARLIER EXPECTED PRELIMINARY EBIT FOR Q4 TO BE IN RANGE OF MINUS 25 MNOK TO MINUS 30 MNOK
    * AN EXTERNAL REVIEW IS ABOUT TO BE STARTED TO EVALUATE AND IDENTIFY GAPS IN COMPETENCE, AND
THEN
STRENGTHEN ORGANIZATION
    * A REVIEW HAS BEEN CONDUCTED TO BENCHMARK ORDER BOOK WITH REGARDS TO MARGIN EXPECTATIONS
    * IT IS REASONABLE TO ASSUME NORMAL MARGINS IN PROJECTS CURRENTLY IN ORDER BOOK, WHICH
INCLUDES
AMONGST OTHERS LARGER ORDERS FOR RAS FACILITIES IN NORWAY AND INTERNATIONALLY

Source text for Eikon:  ID:L8N2A71NA 
Further company coverage:  AKVA.OL 

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