Brief: Philly Shipyard Q3 EBITDA Loss Narrows To USD 6.4 Mln

Philly Shipyard ASA

02/11/2020 07:04

Nov 2 (Reuters) - Philly Shipyard ASA  PHIY.OL :
    * Q3 EBITDA LOSS USD 6.4 MILLION VERSUS LOSS USD 7.4 MILLION
YEAR
AGO
    * EXPECTS IT WILL CONTINUE TO INCUR OPERATING LOSSES IN 2020
AND
INTO 2021 DUE TO THE SHIPYARD OPERATING AT LESS THAN FULL
CAPACITY DURING THE RAMP UP OF PRODUCTION FOR THE NSMV PROGRAM
    * Q3 OPERATING REVENUES AND OTHER INCOME $13.9 MILLION
VERSUS $3.7
MILLION YEAR AGO
    * IT IS EXPECTED THAT EMPLOYMENT AT PHILLY SHIPYARD WILL
REACH
FULL CAPACITY IN THE SECOND HALF OF 2021.
    * CONTINUES TO EXPLORE A VARIETY OF OTHER GOVERNMENT AND
COMMERCIAL PROJECTS
    * MAIN FOCUS IS SECURING AWARDS FOR THE THREE OPTION VESSELS
(NSMVS 3, 4 AND 5) IN THE NSMV PROGRAM.

Source text for Eikon:  ID:nGNEbtZPmr 
Further company coverage:  PHIY.OL 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 778 51 10;))