Brief: AqualisBraemar Q3 EBIT Swings To Loss Of USD 0.2 Mln

Aqualis ASA

28/11/2019 07:09

Nov 28 (Reuters) - AqualisBraemar ASA  AQUA.OL :
    * Q3 REVENUES OF USD 18.0 MILLION (Q3 2018: USD 18.0 MILLION
PRO-FORMA COMBINED, USD 8.6 MILLION AQUALIS STAND-ALONE) 
    * Q3 ADJUSTED EBIT OF USD 0.3 MILLION (Q3 2018: ADJ. EBIT OF
USD
-0.1 MILLION PRO-FORMA COMBINED) 
    * Q3 OPERATING LOSS (EBIT) OF USD 0.2 MILLION (Q3 2018:
OPERATING
PROFIT OF USD 0.6 MILLION FOR AQUALIS STAND-ALONE)
    * PROCESS OF INTEGRATING THE TWO COMPANIES IS PROCEEDING
WELL, AND
WE ARE AHEAD OF SCHEDULE ON SEVERAL FRONTS
    * AT THE END OF Q3 2019 WE REPORT THAT WE HAVE ACHIEVED
RUN-RATE
COST SYNERGIES OF USD 1.9 MILLION
    * FINANCIAL TARGETS OVER A BUSINESS CYCLE – ORGANIC REVENUE
GROWTH
OF 5 PERCENT 
    * FINANCIAL TARGETS OVER A BUSINESS CYCLE – EBITA MARGIN OF
10
PERCENT (EXCLUDING EFFECTS FROM IFRS 16 LEASES AND ITEMS
AFFECTING COMPARABILITY)
    * FINANCIAL TARGETS OVER A BUSINESS CYCLE – DIVIDEND POLICY
WHERE
THE DIVIDEND CORRESPONDS TO APPROXIMATELY 50-70% OF CONSOLIDATED
PROFIT AFTER TAX EXCLUDING EXCEPTIONAL ITEMS AND NON-CASH ITEMS
    * MARKET OUTLOOK: IMPROVING SHIPPING MARKETS WILL INDIRECTLY
BE
POSITIVE FOR OUR MARINE ACTIVITY
    * MARKET OUTLOOK: CO IS IN STRONG POSITION TO GAIN MARKET
SHARE,
EXPAND AND DEVELOP NEW BUSINESS LINES

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nObiRslqla
    
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