HAVYARD GROUP ASA - Good operational performance, but
challenging market
EBIT of NOK 29.5 million and EBIT-margin of 5.4 % in
second quarter of 2016. EBIT of NOK 48.1 million in
first half of 2016 with an EBIT-margin of 4.8%
Progress on projects in work is on schedule and
execution are expected to be satisfying, with good
results.
Main concern is reduced order book and activity from
second part of 2017, especially related to Havyard
Ship Technology (shipyard).
New contract
Havyard Design & Solutions AS has signed a supply
agreement for delivery of design and equipment for
construction of a Havyard 832 multi-purpose vessel.
The vessel shall be built at Cemre shipyard in Turkey,
and the contract value is in excess of NOK 100 million.
Change in bond loan
The groups bond loan ("Havyard Group ASA 14/17 FRN")
was in bond holders meeting 30 June 2016 agreed to be
extended with 18 months, until December 2018. Parts of
the bond loan is agreed to be converted into shares.
Please see enclosed report and presentation.
For further information, please contact:
Geir Johan Bakke, CEO +47 48 18 00 11
Pål Aurvåg, CFO +47 95 00 50 04
This information is subject of the disclosure
requirements pursuant to section 5-12 of the Norwegian
Securities Trading