Brief: Oceanteam H1 EBITDA Stable At USD 5.6 Mln

Oceanteam ASA

30/08/2019 09:48

Aug 30 (Reuters) - Oceanteam ASA  OTS.OL :
    * H1 EBITDA 2019 WAS EQUAL TO H1 EBITDA 2018 AT USD 5.6
MILLION IN
2018 WHILST MARGIN IMPROVED FROM 44 PERCENT TO 53 PERCENT
    * H1 NET PROFIT FROM CONTINUING OPERATIONS IMPROVED
CONSIDERABLY
FROM A LOSS OF USD (1.5) MILLION IN FIRST HALF OF 2018 TO A
PROFIT OF USD 1.6 MILLION
    * BOTH BOOK VALUE AND FAIR MARKET VALUE SIGNIFICANTLY
OUTWEIGH
SECURED DEBT ON JOINT VENTURE VESSELS
    * SAYS IS NOT OVERLEVERAGED
    * APART FROM JOINT VENTURE DEBT, COMPANY FURTHER ONLY HAS
USD 3.1
MILLION SHAREHOLDER LOANS FOR WORKING CAPITAL PURPOSES AS DEBT
    * IN PART, FINANCIALLY RESTRUCTURING COMPANY IN 2018 HAS
SIGNIFICANTLY CONTRIBUTED TO PROFITABLE RESULT OVER FIRST HALF
OF 2019
    * SAYS MUCH WILL DEPEND ON MARKETS FOR OIL AND GAS SERVICES
AND
OFFSHORE RENEWABLES
    * OUTLOOK FOR H2 REMAINS AS CHALLENGING AS IN THE FIRST SIX
MONTHS; ESPECIALLY FOR THE SHIPPING SEGMENT

Source text for Eikon:  ID:nObi2Br0ja 
Further company coverage:  OTS.OL 

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