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Significant recovery in activity: +18.8%
Sharp increase in EBITDA (+19.3% sequentially) to 142.1 million euros
Net loss, Group share of 21.4 million euros owing to the change in the dollar exchange rates, generating 30.5 million euros in net financial expenses
Paris, August 31, 2011
« We have arrived at the end of a downturn that has lasted since late 2008, and the market for modern offshore vessels is now turning around. BOURBON has every chance of being the first to benefit from this new turn of events thanks to a high-performance modern fleet and a worldwide network. BOURBON's operating income for the period is up 19.9% over the first half of the previous year and 145% over the previous six-month period. Net income is affected by the sharp fall in the dollar (down 11 cents) over the period. Utilization rates of the industry's modern vessels are gradually increasing as a prelude to the improvement in average daily rates we are expecting by year-end 2011 and in 2012,
» says BOURBON Chief Executive Officer Christian Lefèvre. « In this context of recovery, which is starting to be reflected in our operating figures, BOURBON is actively moving ahead with its BOURBON 2015 Leadership strategic plan
».
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Introduction (duration: 1 min)
M. Christian Lefèvre, Chief Executive Officer
Financial Results (duration: 18 min)
M. Laurent Renard, Executive Vice President Finance & Administration
- BOURBON Financial Results (10 min)
- Marine and Subsea Services Activities Results (4 min)
- Balance sheet at June 30th, 2011 (2 min)
- Conclusion (1 min)
Activities (duration: 20 min)
M. Gaël Bodénès, Executive Vice President and Chief Operating Officer
- Focus on BOURBON Key factors (4 min)
- Focus on First Half activities (4 min)
- Operational key data (3 min)
- Market key data (6 min)
- Conclusion (1 min)
Outlook (duration: 10 min)
M. Christian Lefèvre, Chief Executive Officer
- A market reversal benefiting modern fleets (2 min)
- Estimates of investments by the oil companies raised for 2011-2015 (1 min)
- Petroleum contractors are the first to benefit from the increase in investments by the offshore oil & gas sector (1 min)
- BOURBON gears up to improve its performance (1 min)
- BOURBON Outlook: Strong capacity to grow and generate EBITDA (3 min)
- Conclusion (1 min)
Questions & Answers (duration: 20 min)
Strategy
BOURBON’s new strategic plan for 2015 continues a voluntary growth policy. Its purpose: making the Group the world leader in offshore oil and gas marine services.